Business plans are often overlooked by entrepreneurs. They are believed to be ancient, not necessary, and are hardly ever used in the online space when someone wants to start a business.
As someone who has created traditional business plans for clients and investors, I agree that the traditional business plan is not necessarily what online business owners need BUT I do believe that a business plan of some sort is still absolutely necessary.
One of my favorite examples to use is that of traveling to a new destination. Let's us a restaurant as an example. You want to checkout a new restaurant and you know the restaurant you want to go to but you've never been there before. Do you just get into your car and start driving and hope you'll somehow figure out how to get there? No way! You look up directions and if you're like me you turn on your navigation. In other words, you have a roadmap to help you get to your destination.
One too many business owners know the type of business they want to build but never create a roadmap for how to get there. They get into their car and start driving hoping they will somehow eventually get there.
See what I mean?
I don't want you to aimlessly navigate the online space and hope that someday you will reach your destination. I want you to know the exact steps you should follow to help you build your dream business.
Ready? Let's dive in!
Step 1: Vision + Ideal Client Clarity
First things first I believe the foundation of any succesful business is clarity. Clarity around what you are building, why you are building it and who it's going to be for. Answer these three questions as best as you can and as clear and specific as you can to provide some clarity around what you are building. Your business is a completely new creation (which is so exciting) and it requires some clarity from the creator of it, and that person is you!
Step 2: Profit + Income Strategy
A business that makes no money is not a business, it's a hobby. I don't want you to have a hobby (unless that's your intention), I want you to have a PROFITABLE business! Having a plan in place for how you are going to make money, setting financial goals, and building an income plan from the start will increase your chances of generating profitable revenue.
Step 3: Online Marketing Strategy
I've seen one too many people build a beautiful website and then scratch their heads when the clients don't come flooding in. Having a website is great, but if nobody knows you exist then it doesn't matter. You need an online marketing strategy that will help you SCALE and get your business out into the world so you can convert clients consistently.
Step 4: Launch Strategy
Lastly, you want to have a launch strategy in place. There's two things I want to say about this. First, it's you making a commitment to get your business out into the world. It's scary and exciting and I want you to commit to making it happen. Two, launching your business is a BIG deal and you want to announce it to the world proudly and strategically! Plus, knowing how to launch a business, service, product, etc. will come in handy time and time again.
These are the four foundational elements I believe every single online business should focus on whether they are starting out or looking to generate more cash and clients. If you need help creating a successful online business plan that covers all 4 of these elements then checkout my coveted Idea to Income Incubator, 6 weeks of 1:1 coaching where together, we will build out your online business plan! Spots go quick and I have a few opening up right now. Click here to learn more.