Ep. 6 Why You Need a Business Plan
“Is a business plan really that important?” In this week’s episode, I dive into the meat and potatoes of what a business plan actually is, why having one will help you make crucial decisions for your business and the different ways to utilize it!
You need a business plan if:
You have a business idea that you’re not working on now but you want to set a firm foundation so that once it’s go time, you’re already prepared.
You’re in the process of a launch, but you missed this important step and before you make a bunch of unnecessary mistakes you want to nail down what you’re doing and how it will actually work.
Your business has been around for a few years and you want to grow, but you’re not really sure if your business can handle that growth. You need to go back to the drawing board to clarify things.
Going through the process of a business plan proves your idea to yourself (and potentially to investors or partners as well)! You’ll make sure you’ve covered all your bases, saving you a lot of time and money.
Some elements of a business plan:
Your purpose or mission
The problem you’re solving
Your solution to that problem
Information on your team
Competition or the Market Landscape
Information on your product or service
Business Model (how you’ll make money)
Financial Projections
And, guess what? You don’t have to navigate this alone!
Click here to learn more about my 5-week business plan course, Prove It Plan (formerly, Making Cents of It).
You’ll journey through each facet of your business and connect with me and others in the course community through our private, member’s only group, where I will host monthly Q&A and provide additional guidance and resources.
Whether or not you join the course, I encourage you to invest in establishing a strong foundation. You will be so glad you did!
Links mentioned in the episode:
Prove It Plan (formerly, Making Cents of It)
Click here to read the transcript of this episode!
Want to work together? Click here to get started
For more great episodes, visit: www.birdwilliams.com/podcast
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