3 Things Your Business Plan Must Have

Starting a business, even as a beginner entrepreneur, requires a solid foundation. Whether you're a coach or launching any other type of business, having a business plan is essential. It's not just for those selling physical products—every business can benefit from this strategic blueprint. Let’s break down the three critical elements your business plan must have.

First Step: Focus

Your business plan should start with focus. Think about the core reasons why you're starting your business:

• Who do you want to serve?
• What do you want to provide?
• When do you want to start?
• Where will you operate from?
• Why are you passionate about this business?
• How will you combine all these elements to create a thriving enterprise?

These questions form the backbone of your business. They should guide your decisions and be at the forefront of your mind.

Also, focus on your big dream. Picture where you want to be in the next 5 years. Do you aim to make a certain amount of money? Do you want to expand with multiple products or locations? Everyone's dream is different, but writing it down as part of your plan is crucial.

Second Step: A Plan

Consider your business plan as a mountain. Your mission statement forms the base, while your big dream sits at the peak. Everything in between needs careful planning.

• What products or services will you offer?
• How frequently will you produce them?
• Can you incorporate passive or affiliate income streams?
• Are there speaking opportunities or online summits that could increase your visibility?
• What can you add to your sales funnel for potential customers who aren't ready to commit yet?

These are all elements that should be detailed in your business plan to guide your journey to the top.

Third Step: Action Steps

Once your plan is in place, it’s time to break it down into actionable steps. For example, if you want to write a book, don't just write it on your to-do list. Break it down further:

• How much time will you dedicate daily to writing?
• Will you self-publish or find a publisher?
• Who will you hire for editing and cover design?

By breaking down your goals into smaller, actionable tasks, you can check them off one by one. You don’t need to plan five years’ worth of action steps right now. Instead, focus on one year at a time, using these steps as your roadmap to achieve your big dreams.

Ready to Take Your Business to the Next Level?

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