How to Create a Business/Strategic Plan

In my last article, I discussed the legal and tax components of owning a business. Check it out:

The Legal and Tax Side of Your Online Business!

Getting these pieces to your business is critical to you starting off on the right foot.

Now that you have the legal and tax pieces taken care of, next we will look at your business plan/strategic plan for your online business.
Unless you planning on getting a loan for your online business, you do not need a FORMAL plan (i.e. 10-20 page plan).

Instead, you can create a business plan/strategic plan that is a few pages. With your business plan, you want to include your goals for your business for the next 1, 5, 10 years. Include such things as:

1. Business Name
2. 1, 5, 10- year business goals
3. Business objectives
4. Financial goals (i.e. weekly, monthly, quarterly, yearly)

To take it a step further, some people also have a strategic plan. This is how you plan to market and promote your business (you can also combine the two and call it your strategic business plan). In your strategic plan, include things such as:

1. Description of the product/services you offer
2. Ideal client description
3. How you will get your product/service in front of people (advertise-social media, in person networking, etc.)
4. How you plan on reaching your financial goals each week, month, quarter, year etc. Include how many of your product/service you must sell to achieve the goals.

Do not get bogged down in writing your plans. There are so many people that never start their business because they feel they must have a 20-page plan written out. Instead, Google 1 page business and strategic plans. This way, you have everything you need in a few pages!

As entrepreneurs, we should always think about how to grow our businesses over time. Having a business/strategic plan is a great way to track your growth and hold you accountable! If you don’t have a plan in place, make plans to do so as soon as possible.

If you are struggling with your business/strategic plan, feel free to reach out to me. I would LOVE to hear from you.

About The Author

Beverly Walthour

Beverly Walthour is a Business Strategist for Christian female coaches and consultants. She helps you create premium packages so that you attract high paying clients in 12 weeks or less!

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