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Have either of these things kept you from actually starting a business?
- Budget (or lack there of)
- Overwhelm about where to start
You’re not the only one. The truth is, most aspiring entrepreneurs have a business idea or at least know what they are passionate about, but don’t actually start because of confusion about how to put it into action or financial fear.
If these two things were really as impossible to overcome as they feel, there would be no new business ventures. Seriously! So, how do you overcome these fears and put a plan into action?
Yep, you guessed it… A Business Plan. (Did the page title, headers and image give it away?)
But a Business Plan is probably just another thing you have no idea how to start. Let’s start by addressing your questions, then you can download the template and get to work.
What exactly is a Business Plan?
A Business Plan is essentially a document that explains what your business is, what services or products your business offers, who your ideal client is, what your business goals are and how you will accomplish the goals. Oftentimes a Business Plan will include legal and financial outlines as well.
Why do I need a Business Plan?
Technically you can start a business without a Business Plan. You can just put your stuff out there and wing it as you go, hoping that eventually you’ll get lucky, but if you prefer to start your business the smarter, safer and strategic way, you need a business plan. With a Business Plan you’ll have a road map to creating your business, how it will function and who it will serve.
Plus, most investors and banks require a Business Plan before approving funds or loans.
How do I create a Business Plan?
Our Business Plan Template will walk you through every step and already has fields created, waiting for you to input your information, but in general, answering following questions are a good place to start.
- Who is the ideal client your business serves?
- How does your business serve your ideal client?
- How do you reach and engage with your ideal client base?
- How does your business make money?
- What re your goals for the business?
- What steps will result in achieving those goals?
It’s important to remember that your goals should be realistic and achievable. Be brutally honest with yourself and your potential investors.
Now that you understand what a Business Plan is, why you need one and how to create one, use our Fillable Business Plan Template to create your Business Plan, overcome your obstacles and create a life of freedom.
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- 6 months of one-on-one business coaching
- Our guide to Launch your Business In as Little as 30 Days
- Monthly strategy calls
- An audit of your website with actionable takeaways
- Unlimited e-mail support
- Full access to our Resource Library