If you fail to plan, you are planning to fail.”— BENJAMIN FRANKLIN
Crafting a business plan might not be at the top of your to-do list; after all, it can seem like an arduous task for solopreneurs or small business owners. So why bother writing one? The truth is, business plans are essential for success in 2023. A business plan focuses on your ideas and gives you the best possible chance of achieving your goals.
A simple business plan acts as a road map that allows you to identify potential pitfalls on the path to business success and make changes before they become problems. It also serves as a business tool to attract potential business partners, investors, and lenders.
A business plan helps you focus on your business’s objectives and identify the strategies needed to reach them. It also allows you to determine which activities are necessary for success and the resources required for each activity. Additionally, business plans help increase overall business efficiency by providing an organized structure to business operations.
"In 2023, business success is within reach. A business plan will help you get there by providing clarity and focus in the pursuit of your business objectives. So take the time to craft a business plan that truly reflects your business’s strategy and vision, and enjoy the adventure ahead."
An alternative to a laborious business plan is the one-page business plan, otherwise known as the simple business plan. Sounds much less overwhelming already, doesn’t it?
By utilizing a business plan template, you can effectively clarify your organization and its operations. Any entrepreneur needs to be able to precisely explain their company in one or two sentences; otherwise, potential customers may become bewildered. As such, using a well-crafted business plan will provide clarity and help ensure success.
Your business concept is the foundation of your strategy. Capture it in a vision statement and mission statement that succinctly summarizes the big-picture version of your idea, allowing you to inquire who will be interested in what you are proposing.
Who is my target audience?
This is an important question to consider when crafting your business plan. Understanding who you are targeting and why will give you a better chance of business success.
An effective business plan should focus on the needs of your target audience, their goals, and interests, their pain points and desires. Knowing this information helps you create the right product or service that resonates with them, and craft the right message that will reach out to them.
It’s important to stay open-minded when defining your target audience. Don’t be afraid to go beyond the traditional business boundaries – you may find a new segment of customers who are ready to take on your business adventure! A little bit of research and testing can help you refine and fine-tune your business plan to better serve the needs of your target audience.
By understanding who your target audience is and what they’re looking for, you’ll be able to create a business plan that gives them the best possible experience. With this knowledge in hand, it’s time to put together an effective business plan and start your business on the path to success.
How will I make money in business?
With a well-crafted business plan, you’ll have the clarity and focus to identify the strategies necessary for business success. Your business plan will help you stay on track as you pursue your business objectives, allowing you to make informed decisions along the way that will lead to business growth and financial success. Now is the perfect time to take advantage of business opportunities and business success awaits. So create your business plan and start the journey to make money in business.
The rest of your plan will unfold and enable you to develop a financial plan, a marketing strategy and goals you will be enthusiastic about working towards.
If you haven’t already experienced the power of planning and goal setting in business, don’t wait any longer! Taking intentional steps towards growing your venture will propel it to greater heights. Even if creating a plan for success isn’t at the top of your priorities list yet, move it up there – you’ll be glad that you did. Your future self will thank you when they see all the progress made as a result.
"Through my eighteen years of entrepreneurial experience, I discovered that inadequate planning and goal-setting in the early stages had a severely negative impact on my business. Which became all too apparent last year when I found myself uncertain and unprepared for whatever life may throw at me."
After I had toiled for several months during the pandemic and subsequent lockdowns here in Melbourne, 2022 was a period of great transformation for me and my business. At that time, I held a Fempire franchise agreement – however midway through its tenure, the company redesigned their model forcing us to terminate our contract prematurely.
I jumped at the chance to become a Certified Fempire Coach and run my business my way. I then joined forces with another coach, though our partnership was short-lived due to unforeseen life circumstances after only four months of collaboration. Unfazed by this reality, I chose to start anew – again!
When you ponder how Covid, lockdown and restrictions might have enabled you to achieve any goals at all, consider that those who had already established objectives were heading in a definitive direction. We typically desire the shortest route from Point A to B; however, bear in mind that even if the end goal remains constant, sometimes we must alter our paths to get there. Enter: “pivot,” the magical word of 2020!
Throughout my entrepreneurial career, I have learned the importance of having a firm foundation for success. Without it, you can easily fall short and stumble – sound familiar? This is exactly what we observed as many companies were left in disarray during this tumultuous time.
Without a stable foundation and the proper planning, they found themselves at an impasse; unable to determine their next steps. Thankfully, I have anticipated this issue by strategizing my goals and objectives in order to masterfully steer around any unexpected obstacles. With enthusiasm surging through me as these plans come into fruition, I am now ready for whatever comes my way because I had to learn to stand up on my own and back myself.
On top of the impact of restarting my business twice in 2022, I also relocated away from suburban Melbourne. I am finally back near the ocean (my happy place). But moving house can be stressful in itself. I had no connections, no support network, and no furniture for the first 4 weeks in my new (very old) house.
We bought another renovator. I just love renovating houses. But this has been a challenge. The demand for trades has gone through the roof and what would normally have taken me just a few months to complete, is an ongoing project. My family spent most of 2022 living in a building site.
What I did discover during my search for local services was just how many lacked an online presence. Your online presence was quite possibly the only visibility the world had of your goods and services. Consequently, business owners were losing out to competitors with well-established online business models.
This is when I decided to help business owners create their online presence and digital brand. Through my business, I now work closely with business owners to develop their business success goals and plans for growth as well as helping them to create an online presence that increases visibility and business success.
I have crafted a business plan that is focused on growth, adventure, and extraordinary results for my clients. I have learned to take life’s lemons and turn them into lemonade. My business is the result of taking all I have learned and turning it into a business success model that will help business owners pivot and grow.
I am so excited about this venture, as I get to combine my love for business development, adventure and leveraging creativity for business success.
I have learned that many business owners do not see the value in creating a business plan. I want to help business owners understand that having a business plan is essential for achieving business success. It allows them to set goals, develop strategies and measure results. In turn they are able to grow professionally and personally while creating a business that outlives the original business owner.
"My business model helps business owners focus on their vision and business growth, while ensuring the business is built on a solid foundation of innovation, resilience, and courage. And I am so excited to be part of this journey with them!"
By having a business plan and leveraging creativity for business success, business owners can have an adventure that leads to extraordinary results. But you may have a plan you never look at, or be afraid your business plan is set in stone, not allowing you any movement. If you perceive having a plan as something that you must follow rigidly or fail then you are looking at the purpose of a plan as black and white – and you shouldn’t.
When business owners create a business plan it should be seen as a living document. It should be reviewed often and adjusted according to the changes of the business environment. This allows business owners to adjust, pivot and grow in line with the business journey they are on.
"Your business plan is your own personal roadmap that you use to achieve business success. It is unique to you and your business, and should be something that you are constantly reviewing and adjusting in order to ensure business success. With a business plan in place, business owners can make money with confidence as they follow their roadmap for business growth."
If you’re an entrepreneur looking for business success, creating a business plan is essential. A business plan will provide you with the guidance and direction you need to reach your business goals.
A plan should contain factors for perceived “what if’s” and strategies that allow you to change direction with minimal disruption. Nobody could have predicted the world shutting down the way it did because of a virus, but it happened and what I saw was business owners that were so stuck in their mentality that they were not able to open themselves up to alternative possibilities. I also saw some amazing ingenuity that created unlikely collaborations, new use of machinery and technology, and let’s face it, some unprecedented successes.
The ability to change and adapt starts with you. Your mindset cannot be so fixed that you aren’t willing to imagine your business being something different. So right now, I want you to give yourself permission to use your imagination. Open yourself up to possibility and brainstorm with employee’s, family, mentors, coaches – whoever it is you talk business with. Do this as a starting point for your 2023 planning.
The key to successful planning is the analysis of your business from a fresh, strategic perspective. By considering potential challenges and outlining future directions, you develop an actionable plan that will guide your success over time. Planning forces us to pause and consider every angle before we move forward with confidence – and this can be invaluable for long-term growth.
Working on your Business Plan is about thinking outside the box to balance risk and reward.
Planning for success means asking yourself three very important questions –
- What are your strategic objectives – what do you want to happen in your business.
- What will it take to achieve them – what resources will you need, what are your sales targets and marketing strategies.
- What alternatives are there – if resources aren’t available, sales targets aren’t met or marketing strategies aren’t successful – what will you do.
Crafting a successful plan starts with your vision and mission statements; think about the long-term prospects of your business. If you don’t have a vision at present, how can you expect to reach any level of success? Simply getting by from one week to another won’t allow for growth in the future – it’s time to adopt an expanded way of thinking! Short-term goals will only garner short-term results, so focus on something larger that is more meaningful.
“What you want and what you need aren’t always the same. Be willing to delay short-term gratification for long term greatness.”
— MANDY HALE
SO LET’S GET READY FOR 2021 TO MAKE IT YOUR BEST YEAR YET - PERSONALLY AND PROFESSIONALLY.
As women in business, let’s make sure we don’t forget to factor our individual needs into the equation when constructing a plan. Too often these important elements get sidelined as we juggle other commitments that are already on our plate – and this can lead to fatigue, dissatisfaction and loss of motivation.
Don’t shy away from taking care of yourself along with your entrepreneurial pursuits! Consequently, by factoring in these needs into your manifesto of success you can construct a happier life that includes much more than just business. If you’re constantly feeling exhausted and overwhelmed it will take a toll on your immune system making it easier for viruses to enter your body. This year has been an example of how even the slightest virus can put a huge strain on businesses everywhere, so I am determined to ensure that business owners such as yourself remain healthy mentally and physically – something which is too often neglected from traditional plans but should certainly be included!
"We have a finite amount of time, it is the only real limitation that levels the playing field for all business owners. "
When we create our business plan, it’s all about being mindful of the time. We need to think carefully and consider what goals should be accomplished within a certain period. Along with that, it is also important to have realistic expectations when establishing these objectives – like understanding which figures are required for success or how close you can get towards your goal in any given timeframe.
While numbers are undoubtedly essential, I urge you to delve deeper and consider what success looks like. This is a quandary that trips up many entrepreneurs, so it’s time for you to define your version of success. Envision the future—a world empowered by your business! Your vision should be about making an impact and not merely contain numeric figures; after all, no one has ever seen such in a mission statement before.
If you want to propel your business further along, take a closer look at the numbers. Not only will they guide you on your journey but also help increase your progress towards achieving and surpassing the vision that is so deeply embedded in all of us. Subsequently, don’t let the emphasis on figures prevent you from pursuing what matters most–your grand vision! Numbers can be both an accelerator or brake; no matter how much acceleration or deceleration it inflicts upon our journey, stay focused on ensuring that we are making strides towards actualizing our mission.
Each of your actions should be a step towards achieving the vision you have for yourself. When setting goals, ensure they are all in alignment with this grand ideal that you aspire to reach.
“It is never too late to find out what it is that you want.” — RITA WILSON
When mapping out your five-year goals, it is essential to comprehend the big picture and establish objectives that can be achieved in a given timeframe. By reverse engineering these longterm aims, you are able to then add additional challenges or requirements as needed according to time. This way of thinking will help you stay focused while allowing for flexibility when necessary.
When you decide to take your business venture seriously, it’s important to consider how much time you have available each week for working on it. Furthermore, be realistic about what tasks need doing and how long they might require so that your goals remain achievable without requiring endless hours of effort – otherwise the entrepreneurial grind could quickly scale up from 12-16 hour days! Give yourself enough space in between tasks to look after family members, manage housework or pamper furry companions too; this will make all the difference during periods of high stress and increased workloads.
When you don’t have enough hours to accomplish every task related to your ambitions, it’s important for you to determine a strategy of action.
Get Help or Amend your Goals So You Can Succeed.
"A business plan needs to be updated, reviewed and compared to what is actually happening. "
How do YOU fit into your plan?
If you don’t commit to caring for your own wellbeing, what repercussions could arise? As much as we need to set aside hours each day in order to work on our businesses, it is just as important that we also allot ourselves time for reflection and presence. Taking the initiative of nurturing yourself is pivotal when striving towards success!
Our imaginations and capabilities are at their greatest potential when we take a break from the hustle of life. Every individual has different productive hours, yet we all benefit from taking regular pauses in our workday; 90 minutes is typically the maximum amount of time that one can remain highly efficient for.
Making sure to incorporate breaks into your day should be an integral part of the way you plan. Take time throughout the day to revitalize yourself by engaging in activity that recharges your batteries. Pressing on at full speed for extended amounts of time eventually leads to exhaustion, so make sure to keep this in mind!
Your daily plan might look something like this –
9.00am – Tasks for Goal 1
10.00am – Go for a walk/meditate
10.30am – Manage email inbox
11.00am – Tasks for Goal 2
12.00pm – Lunch break
12.30pm – Meet people/take meetings/return phone calls
2.00pm – Perform a physical task
2.30pm – Tasks for Goal 3
4.00pm – Check and confirm the following days appointments, tasks, prepare and organise.
Break down your time into manageable chunks using the Pomodoro Technique to make it more productive and purposeful. That way, you will be able to maximize its potential without overworking yourself.
"Giving your full attention and energy to a task will produce better results than exhausting yourself multitasking with no breaks and no balance."
Let’s begin forming the masterpiece that 2023 is likely to be. Assemble a plan of action today so you can shape your future tomorrow. Your daily movements will generate steadfastness, and consistency invariably results in success!