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Business Plan for Small Businesses | How to Write a Business Plan



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I want to talk a little bit about

planning today and one of the tools that

I used to keep myself on track as I

start developing new business lines and

different businesses and it's something

that I always recommend to my clients

when they're starting out in business

and when they're starting a new venture

or even different business lines within

a business so even if you already

started your business you can always

benefit from a business plan it's always

good to keep one handy and I'm gonna

tell you today how to develop one I'm

going to show you how to put one

together and I'm gonna give you the

exact template that I use and the

template that I use for my clients as

well so stick around alright so we're

back to our regularly scheduled

programming guys if you follow me on my

other social media channels ie Instagram

then you would have known that this week

was a little bit of a drama-filled week

for me

I ended up losing my Instagram count it

was hacked and deleted and I lost like

1500 followers and the other thousands

of people that I followed myself

personally so I was really really bummed

out about that so if you're someone

who's been looking for me on Instagram

and can't find my account it's because

it's gone

so go ahead and follow the new account

that I created the handles up here for

you for your convenience and I also

linked it down below so you could just

click it and head on over but that all

aside you know what really sucked but

that all aside let's just get into

today's topic because I'm back with some

valuable information for you business

plans so business plans can seem a

little bit daunting when you first get

started because if you look online and

you look anywhere else for a business

plan template or you try to read a book

about business plans there are usually

really really long documents and they

have a lot of financial projections and

numbers and a lot of details that you

sometimes don't have when you're just

starting out in your business especially

a small business so you probably don't

have those projections and all kinds of

valuation for your business it's just a

lot to put in an initial business plan

what I like to do is break it down into

something that's a little bit simpler

and a little bit easier to digest I just

want you to take a breath and take a

breather if you've been researching

business plans and you're feeling

overwhelmed about it at all just take a

breath I think one of the first things

that you probably need to wrap your head

around

is that there is a huge difference

between a business plan that you're

going to be presenting to an investor or

a third party outside of your business

and a business plan that you're gonna be

using internally for your eyes only for

your company's eyes only it's very very

different than what you would be giving

to a third party so for instance an

investor's gonna want to know all about

your numbers all about your figures

they're gonna want to get into the

nitty-gritty details of how your

business runs how it operates your team

your projections your financials your

debts your liabilities and that's just a

little bit too much when you're just

trying to develop a business plan at the

start of your business to just get

yourself going and something that you

refer to so in this video I'm not gonna

focus on a business plan that you're

gonna present to an investor if you're

interested in that type of video go

ahead and leave me a comment below and

I'd be more than happy to delve into

that but for purposes of today's video I

want to get into something a little bit

simpler and a little bit easier for you

so you can have like a go-to guy to go

to business plan that you're using

internally for your company to guide

your operations moving forward before we

dive into it and get started with the

business plan you'll probably want to

download the template so we can walk

through it together if you send me a

text to this number I will be more than

happy to go ahead and forward it to you

so you could download it as an

alternative you can go ahead and click

the link down below and it'll take you

directly to my site where you can

download it onto your computer so the

first section of your business plan

should be your business overview or your

summary and in this section you want to

talk about what your business is about

what kind of problem its gonna solve

what kinds of goods and services you're

gonna be offering who you are what you

do and what your business does so it

shouldn't be a very long section of your

business plan but it should just be a

very quick synopsis maybe a paragraph or

two about the details of your business

at a very high level all right so the

second section is going to be your team

section I know this sounds crazy or like

a little bit stupid if it's just you and

you're just a solopreneur and you're the

only one running your business but I

think this is an important section

because you're able to identify all the

major areas that you'll eventually want

bodies in as your business evolves and

develops right so if you can identify

like your customer service area

your your customer service team your

accounting and finance team your legal

team you know your developers your

product specialist teams there are

different sections that are specific to

your business and you'll have to

identify those where you want to have a

representative or employee

eventually handling it at this juncture

fill in all the team's that you think

are appropriate at this juncture for you

and then later on you can always come

back you can revise it you could take

some things out you can put some things

in you can get as detailed as you need

to remember this is an internal document

so no one else is really going to need

to see it outside of your company and it

can always change as your company morphs

and develops as the years and months and

months and weeks and whatever goes by so

the next section section number three

we're going to detail and look into your

budgeting and your finance for your

company ok so here I want you to list

out your initial contribution for the

year or whatever it is starting your

business the money in the bank that you

have towards operating marketing

everything for your business and then I

want you to break it down by quarter of

the year so or if you'd like to break it

down for three years or two years

however you think is appropriate for you

I think a one year is a good starting

point that way you're able to break it

down by quarter and you can actually see

where your budget is going to be going

for the first year of business or your

second year however which every year

you're operating in you're able to see

in black and white

where your budget is going so in my

example in my template I actually have

sections laid out for marketing I have

miscellaneous expenses percentage that

is going to go and be reinvested back

into the business your payroll and your

salaries those are all expenses those

are things that you need to budget for

and if you're able to list out a solid

number every quarter then you know not

to exceed that number in that quarter or

you're going to have to borrow from the

other quarters or you're gonna have to

just borrow from yourself whatever it is

it really keeps you on track financially

of course this is not a substitute for

proper accounting but it will give you a

nice high level overview of what you're

looking

to do in that limited scope that your

business plan is covering again you can

get as specific as you like here you can

spend a lot of time here if you're

really into numbers and financials you

can absolutely get into the nitty-gritty

here but what's important is that you're

putting numbers down and that you're

understanding where your money is going

so if you are ever asked you can refer

to your business plan or if you really

really got it down

you'll probably just know the number

right off the top of your head now

section number four is the products or

service that you're offering so in this

section you're gonna break down all the

details about the product that you are

offering to your customers or the

service or both to your customers and

here I want you to get into detail about

exactly what sort of problem your

product is gonna solve or what problem

your service is supposed to solve and go

through the entire process talk about

the pain and the angst that your

customer must be feeling and how down to

the most detail that you can get it down

to how your product is going to assist

them with resolving that problem you'll

want to list out all of the features of

your product what is it made of what is

proprietary about it what makes it so

special if you're doing lashes for

example are they mink lashes are they

synthetic are they faux mink are they

invisible banded lashes get into the

nitty-gritty about your products and get

into the details about what makes it so

special you might also want to consider

putting in all the different variations

of your products or services or all the

different versions of your products or

services as well coming up to Section

five now section five is your

operational plan and your operational

plan you are going isle of operations I

love procedures and I love mapping

things out if you couldn't tell but this

is my favorite part of the business plan

and here is where you're going to map

out exactly how your product or service

originates and ends all the way down to

your consumer or your customer so we're

gonna be talking about in this section

we're gonna be talking about how you

create the product how its manufactured

what the process is how it gets from

manufacturer to you how it gets from you

to the customer etc etc for services is

the same thing so how do you get your

initial lead are you doing like a sales

are you doing Facebook ads are you doing

guerilla marketing how are you getting

this lead and how is this lead nurtured

all the way through the pipeline until

they become a customer and then from a

customer to somebody that has been

rendered services and then a closed file

so detail that whole process out

additionally if you already have

standard operating procedures you want

to go and include the most important

ones here these are what we call SOPs if

you don't have SOPs this is a good place

to start because these will give you

your first versions of your standard

operating procedures that's why I love

this section I feel like if you don't

have systems in place and you don't have

processes in place number one you have a

hard time bringing people on board to

your company because you really can't

communicate how things run they don't

have a reference point and then number

two you really have a problem with

quality control when you have SOPs in an

operational map you can do a good job of

trying to audit and check and guarantee

quality control for goods and service

delivery so yeah get that part done if

you get no other part done in this

entire business plan and then finally

it's your sales and marketing section of

the business plan I know a lot of people

put sales and marketing like at the

forefront because I guess if you don't

have sales and you can't market that

means you're not making any money your

business is not really a viable business

but I feel like there's a lot of other

foundational elements that you need in

place and I always say foundational

elements but I feel like that's so much

more important than jumping into a sales

and marketing strategy when you don't

have the right processes in place to

handle it

even if you are going to make a sale

it's never going to be consistent I know

I'm rambling but whatever in this

section I want you to go over your

client avatar or your client profile and

your client profile is basically going

to detail exactly the type of ideal

client that you want where do they hang

out on and offline what are they into

what do they read what exactly are their

demographic what do they value so you're

gonna put that in there it takes a

little time to research it but trust me

it's worth it because that way when you

execute your sales and marketing plan

you can target and hone

on those exact people and then once you

know who your client is your profile or

your avatar is developed you can go

ahead and start developing that great

awesome sales and marketing strategy I

personally think that sales and

marketing are separate yes they are

related but I think your sales function

and your marketing function are a little

bit different so I've separated the two

in the business plan but if you feel

like you want to just combine them

together go ahead and do that but if you

if you feel what I'm saying where sales

being a little bit different than

marketing then maybe keep them separate

and try to get as detailed in those two

sections as you can and then you'll see

exactly what I'm talking about

all right guys so that's it for me on

this video today if you have not

downloaded this template yet go ahead

and download it the link is below or you

can text me and I'll go ahead and send

you the link directly or I'll send you

the actual document directly all the

information is down in the description

box for you

there's a ton of other resources there

for you on my website please take

advantage of the resources especially

the free ones um I do put a lot of time

and effort into them and I really like

to deliver value to you guys so until

the next video guys I will see you

around peace

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