Building a Solid Business Plan

When you are beginning something new whether a business, a project or a trip you need to start with a plan. Without a solid plan, you are destined to fail.

In this article,  we will discuss the importance of building a business plan and the steps you should take.

Before you can begin to build a solid plan you need to have defined your goal. There is no way you can create a solid plan for your business, not knowing what you are working towards.

If you haven’t read my article on goal setting, you can read it here.

A plan is like a map and is one of the most important things you can do for project and time management.

What is the Planning Process?

The planning process is the steps you will need to take to develop your budgets for your business.

The documents you will develop may include; strategic plans (long-range vision for your business), tactical plans (things to accomplish in the short term), and project plans (things that need to get done in order to brand your business and set everything in motion).

There are many other things to consider, but in order to get up and operational these are the ones that will be most important, to begin with.

How Will Your Process Work?

Plans will vary depending on what you are trying to develop. There are some basic steps that will need to be considered.

You will want to outline your objectives and determine the tasks that need to be done to accomplish the objectives.

You’ll need to decide what resources are needed and a timeline for completing these tasks. Choose a way to track your progress and then finalize your plan.

There are many tools available to do this. One I like to use is Trello. There is a free version that will meet your needs and it is easy to use.

Develop Objects

The first thing to do is to define what you want to accomplish during the planning of your business.

What are your strategic and tactical objectives?

Where do you want your business to be 6 months, 1 year, 5 years, 10 years from now?

Focus on what you envision your business becoming and write it down.

Create Your Task List

Now that you have defined what your business will look like in the coming months and years, it is time to spell out what tasks will need to be done in order to meet the objectives for your business.

These tasks can be anything from building a website to preparing your first marketing campaign.

The important thing is to write out all the things that you will need to get your business up and running.

What Resources are Needed?

Now that you have defined what your business will look like in the coming months and years, it is time to spell out what tasks will need to be done in order to meet the objectives for your business.

These tasks can be anything from building a website to preparing your first marketing campaign.

The important thing is to write out all the things that you will need to get your business up and running.

Creating Your Timeline

Finally, you need to create a timeline. A schedule of events that need to be completed in order to meet your business’ ultimate goal.

Each task that you identify should be part of the timeline with the person or people responsible for completing that task.

Your timeline is a guide and needs to be reviewed regularly by the people you are working with.

There may be setbacks, but if you stay on top of your timeline you are less likely to lose momentum and stay on track.

Summary:

  • Prepare Your Business Plan Based on Your Goals
  • Define Your Strategic and Tactical Objectives
  • Create a List of Tasks that Will Need to Be Completed
  • Determine What Resources are Needed
  • Set a Timeline for Your Plan