Thriving people know that success is not only measured by dollars and cents, but also by the level of effectiveness! You could have all the prestige and money in the world yet, still not be able to sustain your business if you are unable to articulate the goals of your business in writing. How does your business fit into this model of success? Even if the goal is to make $$, the VISION must be WRITTEN and made PLAIN on PAPER!
Yes, I know... you know your business inside and out. You have every (I) dotted and (T) crossed in your head right? WRONG! One of the most OVERLOOKED ways to generate more traction for your business is by creating and implementing a consistent business plan. The first thing people think about is making money but how can you attract investors if your goals are not documented in black and white? Having a concise business plan is something every credible investor will want to see. It doesn't matter if you are seeking a bank loan, a business line of credit , grant funding, launching a kickstarter campaign or any other donations and services; the people who can help you will want you to articulate what you can do... in writing! You fall short when you are unable to provide written proof of your business information and goals. Moreover, a business plan is also YOUR blueprint to staying on track and ensuring effective success for your organization.
3 Things Your Business Needs:
1. An Executive Summary
A business plan can be as simple or complex as your desire but the first piece of your business plan puzzle is an executive summary. It is an essential document used to introduce your company, its goals and implementation plan to potential investors. This document should be detailed to include specific information and should be limited to one page. TIP: Most of the information requested on grant applications will come from your business plan and/or executive summary.
2. A WRITTEN 3-5 Year Business Outline
What are the goals of your company? What is your marketing approach? Who is your target audience or customer base? What are your competitive analysis? Where do you want to be in three, 5, or 10 years? Use this outline regularly to review your progress and areas of improvement. One of the keys in business is to constantly review and revamp your approach.
3. MARKETING KIT
A marketing kit is traditionally used to inform the media or press about your business. However, a marketing kit is also a good way to solicit new customers and inform them of your products or services. This kit can be digitized to include on your social media sites, website or your email marketing campaigns.