Value of a Business Plan

This is three important basics for every successful business:

1. Idea – You need to have a good idea

2. Execution – You need to execute it well

3. Getting down to business – You need to get clients

Your idea is not worth anything unless you execute on it. If you have good execution, but a bad idea you will fail. Good idea and good execution –> Success? Nope, you need to actually get clients. You cannot depend on the classical hope marketing.

This – Build it and they will come – will not work. If it does, it is most often pure luck and there is nothing or very little stopping your clients from going to a competitor.

So let’s talk about everything else you need to do with your business plan.

To create a good business plan, the following question need to be answer:

A) What are you selling?

No, you are not selling TVs or computers. That’s the commodity. You sell enjoyment with the family, productivity, status or something else.

B) Why you?

What is it that makes people take their hard-earned money and give them to you? What separates you from your competitors? If you don’t the answer to this question, there is nothing stopping your clients from choosing any of your competitors.

C) Your why, how, what

Maybe the most important thing you do.

Everyone is busy today. Assume that you only have 30 seconds to get people’s attention, otherwise they will leave you. During these 30 seconds, you need to quickly and efficiently convey everything they need to know to make a decision to continue listening to you.

Why: Why are you in this business. What’s the problem out there?

Example (short version): Website are just too frickin’ complicated. We wanted to create websites that everyone can use.

How: What separates you from the other people doing this? Don’t just say: “By consultations, seminars etc”. It’s not differentiating in any way.

Example (short version): By creating websites on a drag-and-drop platform that eliminates the need for coding.

What: What is it you exactly do and give to the clients?

Example (short version): Fully functioning, ready to go websites that require no prior computer skills.

D) Your audience

a. Who is your dream client?

b. Where can you find them?

c. How will you attract them to your site/store/product/service? (Use a freebie)

d. What kind of result do you want to give them/are they looking for?

E) How are you gonna get clients?

There are more than 20 active and passive ways to attract clients. Which ones will you use to get clients?

F) How are you going to communicate with your clients?

First of you need to identify if you are going to communicate as a business or as a person (you as the expert). Then you need to decide if you are going to look at your recipients as business or as persons. This is more important than most people think. You need to have a clear strategy for your communication. Otherwise, it will most often be very inconsistent and lead to poor results.

A second part of communication is not the exact words you use, but how often, how long and when you communicate with your clients. This is a whole answer on its own, but a short sample:

How will you communicate with the clients once they’ve made the purchase? Will you try to give them a great last impression? How about after a couple of weeks? Will you try to find out how they liked your product and what more you can do for them?

And how will you communicate with the people who make inquiries? Do you spend a lot of time with them? Do you do hard sell or educate them? What do you need to say to them?

G) What to do when the shit hits the fan?

What things can go horribly wrong in your business? List them. Now, what is the protocol to solve these problems when they happen? – because trust me, they will happen. Create that protocol and be prepared.

Conclusion

gIn all honesty, there are tons of great things you could to when creating your business plan, but by doing these steps, you’ll actually be ahead of 95 percent of the companies out there – even big companies. It is absolutely scary how many businesses –  even successful ones – fail to identify these things.