Have you ever wondered where you are with achieving your business plan?

Having a plan (desired outcomes with documented strategies, goals, and tasks) and working that plan is in my opinion the cornerstone of a building a good company. The problem is a “good” plan is often the most overlooked area in a new business. To many Entrepreneurs think a ton of words on a paper satisfies the task of creating a business plan. The plan usually ends up a lengthy (and boring) word document that no one wants to read and ends up lost and buried in a filing cabinet. 

Unless your raising money or communicating to your BOD (board of directors) you should not need to a huge document anyway. What you need is a clear internal strategy plan that covers the basic three elements of a business model.

1. Value Proposition (Great idea that will help our clients more affordably and effectively do a job they are trying to get done.)
2. Profit Formula (A formula that allows you to keep costs minimal and margins at a maximum)
3. Business Systems (Standardization for the our habitual ways of getting things done)

The simplest way to get your business plan started is this:

1. Summarize in a few paragraphs the overall concept and identify your desired outcome.
2. Write a series of strategies for each basic category and keep it simple – a short overview paragraph followed by bullet points is perfect. Your general strategy categories are – Sales, Marketing, Operations, Business processes, Staffing, Funding, Target market, etc. (for more on business processes view my post here)
3. For each strategy category write out the goals needed to achieve each strategy and then write out the tasks needed to achieve each goal.

Let’s recap – you have identified your desired outcome (where you want to be financially in a desired amount of time), and created strategies to achieve that desired outcome and you have your list of your goals and tasks to achieve your strategies. What your left with in it’s simplest form is a checklist of action items to achieve your business plan.

(NOTE: There will always be continual planning and prioritizing as you chew through your list. Be sure you stay on top of prioritization because not knowing where your at at any given moment will breed procrastination.)

A final recommendation is to find an SAAS (software as a service) platform to manage all your action items and strategies in your business plan. This will allow you to share/delegate tasks with other team members. Keep track of who’s where and doing what and it will keep everyone in sync. I use (and highly recommend) a service called PlanHQ

planHQ is structured for the very format that I have outlined above and is so easy to use. It’s quite powerful and has allowed our business plan to be a living breathing entity that again keeps the team in sync. Your plan for world domination will quickly take hold if you can document your plan, communicate your plan and execute your plan. Now go and achieve your business plan!