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Marketing: Three things your business plan must have



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The last month of a very strange year and now is the time, if you haven’t already, to plan for 2021.

Businesses of every type need a business plan whether you offer a service or a physical product.

Every business can benefit from a business plan.

Kim Morrison (43396151)
Kim Morrison (43396151)

STEP 1 - FOCUS

When you create a business plan you need to focus on the reasons for your business:

  • Who do you want to serve?
  • What do you want to provide?
  • When do you want to start?
  • Where will you set up or expand to? n How will you meld all these things together to create a business you love?

These are the primary reasons why you’re going into business and they should always be at the forefront of your mind when making decisions.

Something else to focus on is your big dream.

  • How much money do you want to make over the next five years?
  • Do you want to sell multiple products or have several locations?

Everyone’s big dream will be different but you should write it down as part of the plan.

STEP 2 - A PLAN

Think of your business plan as a mountain but not one that’s impossible to climb! Your mission statement is at the base of the mountain while your big dream is at the peak. Everything in between is what you need to plan and these steps should also be incorporated into a business plan.

  • What products do you want to create?
  • How often do you want to produce a product/new service?
  • How can you implement some passive income or affiliate income into your business?
  • Are there any speaking engagements or online summit opportunities that will expand your reach and your followers?
  • What can you add to your sales funnel for those not yet ready to commit?

STEP 3 - ACTION STEPS

This is where your planning steps are broken down into smaller, actionable steps. Instead of just saying ‘I want to write a book’, break the process down further.

  • How much time can you dedicate each day to writing?
  • Do you want to self-publish or find a publisher?
  • You’ll need to hire a proof-reader and an editor and someone to design the cover.

These are actionable steps that can easily be crossed off your to do list once completed.

Don’t be thrown off here. You don’t need to plan five years’ worth of action steps at one time. The idea is to plan a year at a time, keeping your focus in mind, so that the action steps become a pathway or a blueprint to your big dreams.

BREAKING NEWS

Facebook

Facebook has launched a new website to help businesses make a social impact through their efforts. It has also announced that its dedicated ‘News’ tab is coming to users in the UK in January.

It has announced the acquisition of automated customer service platform Kustomer which, it says, will help improve its buisiness response tools.

Facebook has signed an exclusive deal to broadcast the Indian cricket team’s latest tour of Australia, which could help boost Watch viewership in India.

Instagram

Instagram has added a new Giving Tuesday group story to highlight how people can support nonprofits and SMBs.

It is also testing a new FAQ option for business accounts to help brands provide quick responses to common customer queries and is changing how search works on its platform, by adding the ability to search via keyword, not just profiles and hashtags.

LinkedIn

LinkedIn has released its annual Top Voices list, showcasing the LinkedIn members who generated the most engagement throughout the year.

TikTok

TikTok is adding new warnings to video clips that feature contrasting light and dark patterns, which can cause people with epilepsy to have seizures. It has also published a new guide to help small businesses maximize their holiday campaigns with TikTok ads.

Twitter

Twitter says that it’s looking to re-open account verification,

but it’s looking for community input into what its new guidelines should be.

-- Contact Kim via kim@morrmarketing.co.uk

Read more: Business news and opinion from around Suffolk