Why You Need A Business Plan (Plus 5 Questions To Get Started!)

“Every single successful business I’ve started, I’ve developed a business plan. Every unsuccessful business I’ve started, I have not developed a business plan.” ~David Sharpe

Why is it so important? How can it Help You Be Successful?

When you think about starting a business, you need a Plan to follow. It will give you Focus and Save you Time and Time is Valuable.

A business plan gives you a map to follow. It should help you to prioritize and set goals of what you want to achieve in your business. It outlines your purpose and vision of how your business will function.

5 Questions To Get Started

What problems will my business solve for my customers?

Figure out what problems people have you can People are looking for solutions to their problems. There are not going to buy something because you like the product. It has to serve a purpose or satisfy a need. When you are able to find a solution to problems this adds value.

Is there a high demand for the product?

Are customers already looking for what you have to offer? If so you should go ahead with the product offering.

Do I have an interest or am I passionate about the product/service?

If not, chances are you won’t be consistent with creating content. You don’t want to commit yourself to something you don’t like or enjoy. Believe in what you have to offer or no one else will.

What will it cost to start?

Cost is certainly a consideration especially if you don’t have uncommitted earnings. Instead of focusing on the cost, focus on what is needed to get started. If you need a website, hosting, domain name, advertising, etc., prioritize the costs and then ask yourself “How can I get the funds for this?” Your mind will go to work figuring out how to accomplish the goal and it will all fall into place.

I worked extra hours and put the extra income towards the cost. Some people take a second part time job. Think “How Can I?” instead of “I can’t.” It’s powerful.

What business model do I want to use?

You have many options.. main street bricks and mortar business or an online business. If you are already working a 9 to 5 job, the idea of tying yourself to another 9 to 5 job might not be appealing.

An online business, on the other hand, allows you to work in your spare time building your business to the point where you could give up your 9 to 5 job. You’ll still have the security of your day job and the opportunity to replace it without sacrificing your standard of living.

Write your Business Plan for Success. Consider the 5 Questions to Ask.

If you are thinking about starting a business or have an existing business, Legendary Marketer has a comprehensive course in how to write a business plan and how to launch your business. You can get more information and watch a short VIDEO HERE.

Toodles for Now! ~Callie

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