How can I write a business plan
There are two main reasons you are writing a business plan. First, as a guide that you can follow to help you to reach your goals. The second reason is to be able to show your prospects that you have a plan for success. You are giving them a reason to sign up, with you.
Let’s look at what a business plan is first. A business plan is something that someone would write down to map out how a business will get to its stated goal. It takes into account the the resources that the has and the abilities of the people who are running the business.
Most companies write business plans. It helps guide them. It’s like “the big picture” of where the business wants to go. The big surprise in a business plan is that most MLM business owners have 3-5 month plans. While real business will have 3-5 year plans. Most network marketers last an average of 6-9 months.
Maybe you can see why.
I spend a lot of time trying to get people to not go into business for themselves. Unless they or you are willing to commit to staying in business at least 3 years and preferably 5 years, you may never find the success that is rightfully yours. I say rightfully because, if you work your business and your business plan for 3-5 years, more than likely you will find the success that you crave!
Can you commit to 3-5 years?
If you said yes, then you are ready to write a business plan.
Remember that this is a business plan that will guide you for up to 5 years. Break down each step of your plan into a certain amount of time. You might break it down into 6 months or 1 year stages.
How to Write a Business Plan
You may want to write down your personal mission statement. This should be a paragraph that explains why you business exists and what it hopes to accomplish.
Then you should take account of the company’s resources. This will consist of upfront operating capital. Any kind of equipment that the company can use in its everyday operations. Any skills you or any member of you team has that will aid in accomplishing the company’s goals.
When writing a business plan, you don’t want to break things down to what you will be doing in the day to day operation of your business. You will be writing in generalities. A broad overview of what you will be doing and how you will be doing it.
Since gathering leads is probably the most critical and most difficult thing to do in network marketing, you will probably want to write down things like how many leads your will generate per day and how you will be doing that.
So it might look like this:
For the first 6 months:
“We will generate 10-20 leads per day by driving free traffic to our blog. We will do this by reaching the front page of the search engines with our blog posts.”
From 6 months to 1 year:
“We will add in article marketing and increase the number of leads to 30-40 per day.”
From 1 year to 18 months:
“We will add in buying of solo ads and increase the number of leads to 50-75 per day.”
You can add in the company’s goals too. You can have recruiting goals and sales goals as well.
The people that you recruit into your business will be doing the same thing as what you are doing. There could be an opportunity to form an advertising co-op with them. This would increase your resources. When something like that happens you will need to modify your business plan.
That should give you an idea of how to write a small business plan. It’s just an example. You may have overlapping strategies. You might start solo ads while in month 7, so it would run at the same time as your article marketing strategy.
Basically, you need to plan to spend your money wisely and at the right time. You can’t spend the money on something that you are not really ready to do. Especially, if you have limited resources.
A business plan is like a big to do list. But it is more general. It is a road map to guide you from point A to point B. Although the shortest distance between point A and point B is a straight line, it rarely is a straight line in business.
You’ll make “to do” lists for the every day operations of you business.
Change your plan when you need to. Making a lot of money will allow you to do things that you may not have included in the original business plan.
I also created a quick start guide for new recruits. This, actually, spells out the day to day things that we do. It gives the new recruit concrete explanations of what we do and how we do them. I’d suggest you do the same!
Writing a business plan is often over looked but it is a critical part of success in any business!
To sum it up. You should write out your business plan. This will give you an overall direction to go in. It will also allow you to show your prospects that you are someone who knows where they are going and that they should want to join your team if they want to go there too. You should review your plan every 3-6 months or as things change. Then modify your plan accordingly.
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