Business Planning

Business planning is the process of preparing yourself to lead your business to sustainable prosperity. Writing your plan solidifies it in your conscious and subconscious mind. Reading your plan shows you what to do. Writing and reading your plan enables the plan to influence your motives to work toward accomplishing your plan.

Take your time. You will be working on your business plan from now on. Update and improve it every year. Strategic planning involves writing plans to accomplish certain objectives.

Your Business Plan

Writing your business plans is a project you should work on at least once every year. Update and improve your business plan every year. Write any strategic plans for projects you want to accomplish during the year. You can do all that at your regular annual business planning project, usually in December, or whenever you notice or create an opportunity to start a new project.

Work on creating your business plan and a set of spreadsheets to keep track of your income, expenses, assets and liabilities, etc. Keep them all together with your patents, trademarks, licenses and permits.

Market Research

Investigate your audience. Find out what they want and need and figure out how to solve their problems. For example, who is going to want or need the content you are creating? Do they like to read or would they rather watch a video? Do they like a lot of pictures and other content, or do they just want to read a story without a lot of interruptions? Do they like short or long stories?

Sales Planning

Figure out how you are going to close the sale. How are you going to monetize your content? Are you going to sell your own products and services, or other people’s products and services, or both? Develop a process that you use regularly and repeat that process as often as possible. Plan-do-review. Work on improving your sales strategy and tactics.

Strategic Planning

Strategic planning is writing a business plan for a particular project. For example, suppose you are working on your website development and content creation business and you decide to add a network marketing business to your free enterprise, to add another stream of income, or add a real estate or stock market investment business. You can write a strategic plan for how you are going to start up this new business and incorporate it into your holistic home office.

Video by Bob Mccoy