How To Quickly and Easily Plan Your Business

Did you know that you can start planning for wealth in 3 easy steps? Don’t worry, you don’t need to have run a business before to do it. You can get there in days and then focus on making money.

We’re going to show you how easy planning can be. You’ll reduce your risk and increase your chances of success and wealth.

We see so many businesses starting without a business plan. In fact, just last week we were helping a small retail business that was struggling. Guess what? They didn’t have a plan.

Without a decent plan your risk level just shot up through the roof. Actually, stop right here and answer this. Would you set off on a 25 mile hike across dangerous and cold territory with no map or preparation? Of course not. So you wouldn’t start your business without a decent plan, would you?

Here are our rules of planning…

1) Don’t write books

It’s not about the length or the format. It’s about content. it makes us mad when we see these sites and books about planning that have clearly been written by people who never got close to a small business in their lives. Your plan should not be more than 20 pages. Distill your thinking down to the key issues and strategies.

2) Write a 1 page summary

One of your most useful parts of your plan is the 1 page summary. It’s your plan on a page as we call it. Your key financial targets, your three most important goals and brief descriptions of how you’ll achieve them.

3) It’s not just your own business

Too many plans are 100% about their own business. Look at your competition – you need to understand their strangeth and why their customers like them

4) Focus on cash

Too many plans ignore cash flow. This is one of the most important elements of your first year. If you get paid 30 days net, remember to plan for that. running out of cash is at best expensive and at worst fatal.

5) Consider the bad as well as the good.

We like to what if scenarios. What if you miss your sales plan by 25% or even 50%. What can you do? What if a sales contract is 2 month late? What if a key team member quits? If you have contingency plans in place you’ll not struggle if and when the bad news happens.

6) Be conservative

No, this is not a political or religious discussion. It’s about not being optimistic. It’s far better to under plan and beat it than be optimistic and start to realize that you’re in trouble after 6-12 months.

7) Take action

You’re going to be running a small business. Winners take action and move quickly. They don’t strategize for months. One of your big advantages is that you’re going to be a small boat fast moving fast, weaving through your competition. Not a lumbering ocean liner like the Titanic that can’t even dodge an iceberg. Write down what you’re going to do and be specific.

8) Numbers come last

Huh? Don’t start your plan with goal to sell a million dollars of stuff. Start with actions you’ll take and explanations of how you’ll take them. then add it all up and see what you’re doing. We like bottom up plans for small businesses.

OK, you’ve got the guidelines. Now let’s show you how to get started with 3 easy steps

1) Know your competition

Spend some time listing them and learning about them. What makes them special in the eyes of their customers?

2) Look at yourself

Write down the three most important things you want to achieve and then explain how you’re going to achieve them and by when.

3) Do the numbers

Look at how much it will cost to do those 3 things and write down your planned sales. This is your first cash plan.

That was not so hard. This is how we work at WDTD. We’ll give you an awesome map that shows you all the small steps you need to take. You go as fast or as slow as you like. Lots of small wins and before you know it…..

Keep these notes because you just started your first business plan. You’re not done yet, but you’re on your way. It’s not hard when you know how. And guess what, you’re suddenly gaining clear understanding of your business and your competitors. That’s one of the major ways to reduce risk and create wealth!

Be successful

Rob & Angelique