One of the most popular questions I get asked whenever I talk about online business building is always about business plans. For one reason or another, the concept of a business plan, what it is, why it’s necessary and how to create your own, always seems to be a primary concern to beginner business owners and/or those who are curious about online business and thinking about starting their own. When you are first getting started creating a business, you have dozens if not hundreds of tasks on your plate all at the same time. For that reason, I think there are way more important items and business assets to tackle before you ever even worry about your business plan. Today, I want to talk about six such items that I think you should have in order as a small business owner before you even worry about writing a business plan!
If you are operating a business of any kind, online or off, having a website is a must. When people hear about your business, products or services, the first thing they are going to do is Google you to find out more about you and unless you have throw a stake in the ground with your own website and claimed your distinct area of the internet, you are loosing a very powerful opportunity to engage with potential customers and clients. People will search for you online and make many instant decisions over whether or not they want to purchase from or work with your business based on information they find or do not find online. For this reason, putting the necessary time and effort into your website to ensure it provides an accurate and intriguing face to your business is a must!
Another term that I often find thrown around along with business plan is business model. Your business model is the way in which you plan to make money with your business. Remember, until you earn money from your effort, you don’t actually have a business, just a hobby! Your business model is a defined strategy for how money will flow into your business. Until you have your business model worked out and begin earning a steady income from it, there is no reason to even think about a business plan! Until you truly begin earning income from your business, so many factors are up in the air. Spend your time thinking about ways you can earn income and execute on those actions before you worry about your business plan.
Products and/or Services
Your products and/or services are definitely the most important part of your business! Like I mentioned earlier, if your business isn’t earning revenue, it’s not a business, so making sure you are creating and offering the right products and services is crucial. Your products and services go hand in hand with your business model. Working to develop not only great products that people are eager for, but also defining the right methods for distribution and production (which are essential elements of your business model) will help you to maximize your revenue and grow your business.
What does your plan look like? I am interested to know your concepts! Please share below.
*Don’t forget to register for our GO BIG Business Expo, July 16th, Houston, Texas