HOW TO CREATE A PERSONAL BUSINESS PLAN
By David Major
Look in any large bookshop and you¡¦ll see many titles about writing a business plan. Visit any major bank and you can meet a business advisor who has probably little or no entrepreneurial flair ... that¡¦s why they work in a bank! They will give you reams of papers on how to present a business plan.
These formal plans are needed when you want to open a business account or if you seek a business development loan. They are games of hoops that you have to jump through. They are facts of business life which will immerse you in forecasts, spreadsheets and statistics. You are not writing a formal plan for you, you are writing it for the ¡¥men and women in suits¡¦.
A personal business plan is written by you, for your eyes only. Writing it can be fun, will shine a light into places that bankers may not even know exist and, will fire your enthusiasm and power your motivation beyond belief. You can make it as colourful as you wish ... use cuttings from magazines, other peoples¡¦ advertisements and pictures of your dreams.
The first pages should describe what you want to do, why you want to do it, where you will do it, how you will do it and, most importantly when. Then, list all the things that you enjoy doing and note any particular values that are important to you.
List the resources you have already and that can get you started ... not just those that you can see, but the ¡¥invisibles¡¦ like time, talent, skills, experience and aptitudes. Now list those that you lack, with notes about the action you will take to acquire or hire them in.
Consider your clients. Who are they and how will you find them? It is always better to start with a small, definable and easily reached niche. Find a niche and scratch it!
For every aspect, state an action and a date when you will take it. It can help to discuss your personal plan with a disinterested third party who has no stake in the outcome and no personal interest in pinching your idea. As a professional life coach, you can use me as a sounding board in absolute safety and confidence.
Grab your notebook, pen and scissors and get started on stating your business dream today!
TOP TEN TIPS FOR BUSINESS SUCCESS
„X Write a personal business plan [which is NOT the same as a formal plan]
„X Revisit your personal business plan regularly to sustain your motivation
„X It is almost impossible to over-estimate costs. Think of a number and double it
„X It is almost impossible to under-estimate income. Think of a number and halve it
„X It is better to have many lower value clients than a few of high value
„X Your business must be congruent with your ethos and values
„X Base your business on something that you enjoy
„X Know where to find the information, skills and talents that you need
„X Focus on selling benefits and results. Tell them ¡¥what¡¦, save ¡¥how¡¦ ¡¥til they ask
„X It is many times cheaper to sell again to an existing client than to create a new one
BONUS TIP: Make it easy for them to buy your product or service
This article was posted by David Major
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