Plan Your Dream
How do you plan your dream?
I mostly coach entrepreneurs and one thing I get a lot of questions on are once you know what you want to do, how do you get started? A wise first step in figuring out how you will pursue the business you want to start is beginning with a business plan. The following is an excerpt on about creating a business plan from my e-book “Disciplined Pursuit of Your Vocational Calling.” CLICK HERE if you would like to get the full copy of the e-book.
Just as you must have a vision that deeply compels you to move forward, you should also have a plan that keeps you focused. A business plan is helpful in whatever path you choose, even if you are an employee. Remember that you are the CEO of your own company and you should have a business plan that reflects this. Having a business plan is critical for a few reasons:
- It is a written document with what your business is all about and will help you with the disciplined pursuit of less.
- It gives you clarity on exactly what the mission of your business is and keeps you focused.
- It outlines the steps you plan to take in the progression towards your dream, not so you can blindly follow it but more so you can pivot when necessary.
- It gives you language to explain to others exactly what you do. Make sure you write a business mission statement (that hopefully will complement your personal mission statement).
If you are more of the creative type then doing a business plan may make you feel restricted and confined. You may want to resist the practicality of doing this but DISCIPLINE BEGETS DISCIPLINE. Rely on your keystone habit to get the discipline you need to write out the business plan. Most people won’t take the time to do this necessary step because it is not exciting. I am glad it is difficult because I know that if most people don’t do it then I am already one step ahead. If it were easy to follow this unexpected path to your calling everyone would get in the game and do it. Sit down and do it and be content that you are part of the select few who are actually pursuing your calling by planning it out.
The critical elements of your business plan are as follows:
- Mission that is closely aligned with your personal mission statements
- Unique Selling Proposition that you can share with others when they ask what you do. I help ________, do/know/understand ____________ so they can _______. Fill in the blanks.
- Keys to Success – what are the key factors in creating a sustainable business and the key assumptions you need to prove true in order for your business to succeed?
- Outline of your services and products
- Financial Projections
- Note: If you are starting a side business, then build in what dollar amounts you will need to make it a full-time career. Typically you will want to have 6 months living expenses built up and be making half the dollar amount in your side business you will need to live. This proves that if you did this full-time you could make up the difference.
- Marketing Strategy
- Sales Strategy
- Your Continuing Education or Certification Plan