Without a solid, simple business plan, life truly is like a box of chocolates: you never know what you’re going to get. You won’t know what’s coming, how to get there, or how to make the changes you need to achieve your goals. But here’s the good news: a simple business plan is easy to write so that you can achieve that six-figure business goal. So let’s get your business on track for a six-figure year, okay?
Before we jump into each step, let’s take a quick step back. Because business plans are highly personalized, it’s important to know that this 3 step process is a solid foundation, but it’s not the whole house. That’s why so many successful entrepreneurs turn to a mastermind group or a coach. It’s easier to build a whole house with a support group! With a knowledgeable coach and mastermind group to support you, you’ll be able to tease out the details that escape the other entrepreneurs who rush in without backup. And it’s these details that help you create the freedom you’ve been looking for: to make more money; to make a bigger difference in the lives of your clients; to have more time; and to run a business that you love from the bottom up. In other words, go through this process. And then rely on your coach, your mastermind group, and your support system. Because it’s going to take work, insight, and inspiration to get it right.
Imagine your life 3 years from now. Now, write down what that looks like, because we’re going to take this vision and work backwards from it… so that we can transform this vision of yours into a reality. Write down how old you’ll be. Write down what your family looks like: how old each member is, how many kids or grandkids or nieces and nephews you’ll have. What do your relationships look like? What kind of traveling do you do? Where do you live? What does your income look like? How do you feel about this 3-year- in-the- future version of yourself?
Now that we’ve got your vision, step 2 is simple. You simply have to decide that there is no Plan B. You are willing to work to achieve your dreams and goals. And you’re willing to give your vision an outside power in order to give it life. In other words, you’re going to quit treating your business like a hobby. You’re going to quit giving time and power to those who don’t value your contributions. And you’re going to assign a dollar amount to your annual income. From there, we can break it down into how much you need to earn each quarter, each month, each week, and each day in order to achieve that goal. From there, we need to decide that it’s okay to say “NO.” It’s okay to not serve everybody who comes in and asks for help, because that’s not how business works.
“Why not try to serve everyone? Well, it’s like trying to cook spaghetti without setting a timer. You’ll be throwing spaghetti at the wall trying to guess if it’s done – and you’ll guess right some of the time, but you’ll always end up with a filthy, frustrated wall.”
Your business is designed to fulfill a need in the market – and not everyone has that particular need. And that’s okay. So instead, let’s focus on serving the people you can help – and fulfill that business niche only you can fill. This way, you can focus on offering a specific set of skills, services, and products. Now, it’s time to take action.
It’s time to determine your “Income Producing Activities” (or IPA’s). We all have 24 hours in a day, and we all have multiple demands on our time. However, attending yet another meeting or sitting at your desk doesn’t usually generate revenue for your business (or you!). So instead, let’s grab an accountability partner or a coach and plan how to spend our mornings. When you know what your IPA’s are, you can plan your calendar so that you can accomplish amazing amounts of work in unbelievably short amounts of time. For example, I know many single mothers (with kids in school) who only have a few hours to work from home. Plus, they’re also juggling kids’ activities, housework, and the billion other things on their to-do lists. But these amazing entrepreneurs know their IPA’s. And so they can reach their goals and earn a great income – and still be there for their children by the time the bus brings them back in the early afternoon.
Know your IPA’s. Use those IPA’s. And you’ll be able to transform your business into a six-figure company, too.
Do you need some help turning your simple business plan into a working business model? Let’s take a look together,
find the holes, and see where we can do better together. If you’re ready to go from expensive hobby to six-figure salary,
then you can reach me here https://lorihildebrand.com/work-with-lori/ to chat.
A Business Plan That Works! .. Shocking I know
Posted by Lori Hildebrand on Wednesday, January 3, 2018