Updated: May 6, 2020
Money is an inanimate object that as humans we give so much power to. Most people will tell you that when you are creating a business that you should only think about the money, but I say that you do not have to create a business to make money. You can work in your neighborhood pharmacy as a clerk to make money.
I argue that we as humans would rather work jobs that are intentional. It is my belief that when layered with purpose and passion we can create abundance for the legacy to come with ease as we are naturally in alignment to the thing we were called on this very earth to do.
If we scratch out the purpose, and passion then we are only just doing it for the money. Would you rather live a life that is full of passions and freedom than live a life dictated by an inanimate object that is money!
Now I am not here to tell you that there is more to business than making money as you already know that, but I am here to teach you how to effectively create a business that you love so you can generate the wealth and freedom to live the life you love.
I know you might be thinking, well Emi why create a plan when I can just start making that MULA?
Well I firmly believe that when you “write down your vision and make it plain” Habakkuk 2:2, is when you can fully activate the vision.
Now I am going to make this extremely easy for you, because I understand you are a busy body and have a million and one things to do.
So download your free workbook so you can follow along and create your own blog business plan and get started monetizing your blog as soon as possible!
To get started you have to start thinking about what your business is all about.
Step One: Executive Summary
In this first step you are going to determine your overall reasons for creating your business. You will share your business vision, mission, and message. You want to keep it short and sweet.
Step Two: YOUR AUDIENCE
This step is essential as you want to identify who is your target audience and How you can be a solution to their problems with your products and services. Your Business Plan revolves around your target market. Actually, just about everything that you do for your business should revolve around them! Without an audience, it will be impossible to grow a community and become a full-time business. So, get really clear about who you serve.
Step Three: Market Analysis
This is the fun part of your business plan. In this step you get to identify, analyze, and assess your competition. Now you will never know exactly what your competition is doing. However you will be able to see integral parts of their business process and you can consider to integrate it into your business.
Step Four: Business Offerings
Now Cheers to more good stuff. Figuring out how you are going to get cash flow in your business. Now you are welcome to have multiple streams of income for your business but as you start branding yourself for your business it is important that you make yourself known for one signature offer. This will strengthen your brand name.
Step Five: Marketing and Sales Strategy
Every good business plan has a solid marketing and sales strategy attached to it. In order to market and sell your products to your audience you must first know where they hangout. Knowing where your audience spends their time allows you to create the content needed to reach them.
Step Six: Financial Projections
When you are planning your business revenue goals, it's important to ensure you account for all of your business expenses as well. In general you will have : monthly business expenses (outsourcing help, advertising costs,etc), annual business expenses (website hosting, software subscriptions,etc.), and quarterly business taxes (typically 30%). You should decide now how much you are able & willing to invest back into your business while still supporting your lifestyle needs in terms of profits. Remember, the more you can reinvest back into your business, the more potential growth for the future. Investing in your own ongoing education and development is also critical to your future success and should be considered. I also suggest researching and/or talking to an accountant or tax adviser about the many tax breaks available for entrepreneurs to ensure you are making the most of them.Below is a financial worksheet that would help you put your number goals down. Remember to think large but attainable!
WOOO HOO, give yourself a huge pat on your back for making it this far!! Understand that I know to well how difficult solopreneurship is hence why I created my business so you won't have to go at it alone. Sis, I am here for you!
If you haven’t downloaded the How To Create A Badass Business Plan workbook, you definitely should do so now to get started putting together your business blueprint.
DO YOU HAVE A BUSINESS PLAN? WHAT ARE YOUR GOALS FOR THE NEXT 6 MONTHS OF YOUR BUSINESS? SHARE THEM IN THE COMMENTS BELOW!