Inspire Yourself, Inspire Your Team
Most entrepreneurs fail to develop a business plan. Basically, they’re dull, boring and stagnant. You started your business because you desire something more. That’s why I encourage you to ditch the business plan. An inspiring strategic plan is better suited for entrepreneurs.
A strategic plan acts as your business building roadmap. If you’re a growth minded entrepreneurs who is ready to take your business to the next level, then this is for you. You’ll gain focus, direction and action.
Know Your Destination
When you take a road trip, you typically begin with where you are. Next you pinpoint your destination and then you figure out how to get from here to there. The same is true for your business plan.
Well, let’s change that up. As Steven Covey states in his best-selling book The 7 Habits of Highly Effective People, the beginning starts with the end in mind. This concept is known as reverse engineering.
A New Path
Reverse engineering is like taking a new driving route from your home to the office. With the old route you don’t pay as much attention, because it’s a daily drive. Your mind may be thinking about your next meeting as you drive to the office. But with the new route, you’re more tuned in simply because it’s less familiar. So you’re more likely to notice details along your drive.Most entrepreneurs fail to develop a business plan. Basically, they’re dull, boring and stagnant. #smallbusinesssuccess Click To Tweet
Starting with the end in mind is different from how you typically plan things out. You’re more likely to gain insight since it’s a novel approach.
What’s Your End Game?
Envisioning your success is the first step of your strategic plan. How do you define success? What changes occur once you achieve success? What exact dollar amount are you earning each month? Annually? Who’s on your team? Is your business regional or virtual?
A business plan is concrete. Either you’re succeeding or failing. But business growth isn’t a zero sum game.
Your vision influences your strategic plan. Because it’s fluid, you adapt the plan as necessary.
“Every physical response, every psychological change and every mental transformation starts with the mind.” ? David Amerland, The Sniper Mind: Eliminate Fear, Deal with Uncertainty, and Make Better Decisions
Success requires that you determine your destination. Otherwise, your business flounders and you wonder why success feels out of reach.
As you envision your success, be as specific as possible. Your brain responds best to rich details. It’s like putting an exact address into your GPS instead of a general location.
Your strategic plan transforms your dream into specific milestones. Write down all your ideas. Don’t just dream them. Get specific with your numbers. My business will bring in $150,000 this year. My annual expenses will be – yep, you’ve got to calculate those in order to know your profit margin. If your annual expenses are $40,000 then your profit is $110,000. If your annual expenses are $100,000, then your yearly profit is $50,000.
How many clients do you need to earn $150,000 in revenue? 10 at $15,000. Or 3 at $20,000 plus 180 workshop attendees at $497 each? Yes, your strategic plan benefits from exact numbers. Pull out your calculator.
Where will you work? Will you be in the same town or is your business location independent? Do you have a home based business or require office space? Will you have a small team of three or four? Or manage a team of 40 or 50?
What services do you offer your clients? Do you sell 5,000 widgets a year in addition to your services? And do you have a marketing budget? If so, what will that cost?
The more details, the easier it is to construct the milestones that will help you grow your business.
The Big Why
Your starting point begins with your why. What’s your burning desire? It’s the reason you are taking the risk of building a business instead of working for someone else.The starting point for your strategic plan begins with your why. What’s your burning desire? #smallbusinesssuccess Click To Tweet
Your why is the fundamental driver that keeps you on your success path, especially when it’s tough.
If it’s primarily to make money, then you’ll eventually burn out. Instead tap into a meaningful reason that’s important for you. How do you want to make a difference? Here’s an advanced tip: A deeply personal desire is preferable to a global one.
Your purpose helps you develop the growth mindset that takes your entrepreneurial venture from an idea to a viable, successful business. Your purpose influences your inspiring strategic plan.
Without a purpose, you will eventually stray away from your ideal business. So, your purpose helps you to overcome obstacles that may otherwise cause you to quit too soon.
Purpose and Achievement
Set time aside to work through your ideas so they turn into specific actions. Once you have a clear picture of your end goals, reverse engineer the process. This means you list the necessary steps from what you aim to achieve to where you are now.
Remember to connect your steps with your purpose. Find the flow to move from the step that’s furthest away to the one that’s before you right now. Since your plan is a fluid living document, expect tweaks and revisions along the way.
Keep your end goals in alignment with your purpose. Entrepreneurs who seek numbers without any meaning eventually experience burnout. Remember not to stray away from your purpose, especially when others question your choice.
Why an Inspiring Strategic Plan Matters
A strategic plan takes time. Go ahead and visualize your concept of success. Start with the end in mind. Generalities aren’t very effective. Your brain responds best to specific details.
Success means different things to different people. This is why it is critical to clearly envision what success means to you based on your purpose, your why. You may find yourself adjusting your steps along that way; however, the end goal remains clear.
Whenever you have setbacks – they do happen in business – your strategic plan will help you get back on course. Remember, this is your business GPS. So when you stray off course, it adapts and re-routes.
Entrepreneurs tend to minimize their achievements. Acknowledgment, however, plays an important role. So go ahead and celebrate each completed milestone. Maybe it’s a pat on the back or a celebration dinner.
The Solution to Developing Your Strategic Plan
I’m all about success for entrepreneurs. I help entrepreneurs just like you take your business from “just a business” to a profitable business you love. A strategic plan is a long-term blueprint for your business. Getting started can seem overwhelming. Building a business that’s connected to your purpose is highly rewarding.
What would your inspiring strategic plan look like? To find out more about how I help you eliminate roadblocks on the way to success, sign up now for your free success consultation.