Did you know that over 90% of entrepreneurs don’t have a master business plan for how they’re going to create cash flow and grow their business? Not having a business plan is like going on a year-long road trip without a map. It wouldn’t take long to get into unfamiliar territory, lose your sense of direction, and begin to wander aimlessly about, wondering if the road you are on will get you to where you want to go.
The same thing happens when you don’t have a thought-out business plan. You become reactive and run your business by the seat of your pants, rather than being proactive, with purposeful action to help you move closer toward achieving your vision and goals.
But, what I’ve found to be true by working with thousands of entrepreneurs is most have a tendency to over-complicate the business planning process. Then, overwhelm kicks in, they get emotionally bogged down, and they never complete their plan. The result is they embark on another year where their business doesn’t come close to meeting their goals—once again.
To help you, following is a simplified and powerful approach to help you plan your “Big Picture” 2013 business plan!
Step 1. Set a BOLD Money Goal
Planning for success begins by setting a compelling money goal for yourself that will pull you forward out of your comfort zone, and into a new model of thinking and behaving. To begin, determine the GROSS AMOUNT of income you want to earn in 2013.
Post this number where you can see it daily.
Step 2. Mark Time off You Want in Your Calendar
This means blocking off time for holidays, vacations, service delivery, attending workshops and seminars, etc.
Step 3. Plan “Big Pay Days”
To meet your Bold Money Goal, cash flow is queen. That’s why you want to plan for your Big Pay Days. Big Pay Days, especially if you are new in business, is going right out and attracting 1-1 Platinum coaching clients ($5,000 for 6 months). Get your first client, then second, third, etc. Big Pay Days can also take the form of a 1-day VIP Live Intensive ($1,200 to $2,500).
If you’ve been in business awhile, your Big Pay Days may look different. They may include:
- 1-Day VIP Live clients ($4,000 to $8,000)
- 1-Day VIP Virtual group ($2,000 to $5,000)
- 1-1 Private Platinum coaching clients ($6,000/6 months to $12,000+/6 months)
- Platinum group coaching program ($10,000 for 12 months)
- Training and certification programs ($10,000 for 3 months)
- Master Mind Retreat (10 people at $15,000 to $25,000 per group)
- Membership association
For existing businesses (and as a start-up business grows), plan in your calendar to have 2 or 3 high-end offers per year to generate Big Pay Days. Calculate the number of people you will serve for each high-end offer, and calculate projected income.
Step 4. Plan Smaller Projects
These smaller projects can be teleseminars, information product launches, starting a membership continuity program, and small workshops. These projects can also be “feeder” programs for your Big Pay Days, such as a teleseminar series.
Calculate the number of people you will serve for each smaller offer, and calculate projected income.
CHECK: Does this number add up to your BOLD Money Goal. If so, you are on track. If it is fewer dollars than your goal, readjust your numbers (investment amount, people to serve, or both).
By now, you know—
1. Your BOLD Money Goal (sales/revenue you will create)
2. What major High-End projects you will offer
3. Smaller projects you will offer
4. How many people you will serve
5. Your marketing calendar and activities
Step 5. Do Time-Blocking for the Month
For my personal schedule, I prefer the 1st and 3rd weeks to be my busy weeks of the month. During these weeks, I lead my coaching calls, Inner Secrets Training calls, and Personal Retreats.
The 2nd week of the month is lighter, not as busy. The 4th week is very light, where I plan more time off. This is also my creative time.
Step 6. Create Your Marketing Launch Calendar
Because you want to plan your High Pay Days, first, you want to get these planned on your marketing calendar, first!
Plan the launch date of your high-end offers, and then back up from there to when you need to begin to market. Decide on the methods you will use to market (email, speaking, creating videos, teleseminar series, workshop, etc)
For high-end offers, plan on 4 to 6 weeks of marketing time. Seeding, where you “drop hints” about an offer, happens 4 weeks to 6 weeks prior to active marketing of the program. You can see now why you need to get these offers plotted on your calendar!
“To achieve your goals you must create a business plan that awakens your vision, increases clarity about what to offer to create consistent cash flow.”
Creating a ‘Big Picture’ business plan is one of the first steps to creating a Master Business Plan for how you plan to grow your business, so it creates cash flow and meets your income goals. Take this step, and the “how” about actions you must take will become clearer.
“If you’re tired of drifting about with no real planned direction…being reactive day-to-day in your business instead of focused and intentional…and letting your sales and income up to chance, then I know you’ll want to join me for an *all-new* FREE training event, “How to Create a ’13 Master Plan that Awakens Your Vision, Increases Clarity about What to Offer & Creates Consistent Sales, Profits & Confidence!” Reserve your seat here!