| When I'm traveling to someplace new, I like to get | | | | where you want to go, but without a sense of how it |
| directions beforehand. Sure there's something to be | | | | will be implemented, it might as well sit on the shelf. The |
| said for the proverbial "scenic routes" and "roads less | | | | key, which I re-learned in my weekend work, is to |
| traveled," but, as Yogi Berra noted, "You've got to be | | | | break things down into manageable parts. Whether it's |
| very careful if you don't know where you're going, | | | | creating a list of tasks, a timeline, or a combination of |
| because you might not get there." | | | | the two (not everything HAS to be done at once!), all |
| A business plan serves a similar purpose. It's like | | | | great achievements begin with a single step. So what |
| MapQuest®, except that you choose both the | | | | are the steps you need to take to reach your goals? |
| destination and the route you want to take. And, like | | | | For mine, it meant re-examining my marketing: yes, the |
| MapQuest®, it needn't be overly detailed, drawn in | | | | target market (you!) remained the same, but what's |
| pretty colors, or able to fit in your pocket; it just needs | | | | the best way to reach more of you? I spent time |
| to give you a good sense of where you're going and | | | | thinking about the Words to the Wise ezine, our |
| how you intend to get there. If you're serious about | | | | website, developing speaking engagements, writing |
| starting or growing your business, M.A.P. out your route | | | | articles for other magazines, reaching out to individual |
| by following these three steps: | | | | colleagues who work with small businesses, etc., . . . |
| Make a Master Plan. One of the benefits of a written | | | | and voila! - there's my outline of strategies for new |
| plan is that it forces you to think carefully and with | | | | marketing. Then I considered the tactics: what I could |
| focus about what you are providing, how, to whom | | | | do, who I could reach, and when (deadline) I could take |
| and, significantly, why you want to do this. What is the | | | | each concrete step to move each strategy forward. |
| vision in your mind's eye for who you can help and | | | | By doing so, I knew what was on my plate each |
| how they will benefit? To build a successful business, it | | | | week - and didn't overwhelm myself by unrealistically |
| helps to answer the following questions, among others | | | | expecting everything to be "new and improved" by . . . |
| (which you would do in your Master Plan): | | | | tomorrow. It also gave me an opportunity to celebrate |
| -Who will buy your product/service? | | | | each small action that I took, instead of deeming |
| -How will you distribute your product or deliver your | | | | success as only reaching the end result. |
| services? | | | | Play with it Periodically. Business plans - whether the |
| -What is the size, maturity, and competitive nature of | | | | overall Master Plan or the specific strategies and |
| your industry? | | | | tactics - are never static. They are meant to change |
| -Who is your competition and what makes your | | | | and grow over time as you experiment with different |
| products/services better? | | | | approaches. So have fun with it - and play! Revisit |
| -What is the importance of location to your business? | | | | what you've planned from time to time - every six |
| -What is your current and/or anticipated organizational | | | | months or so is a good measure. |
| structure? | | | | Each approach, whether successful or not, teaches |
| -Who are the principals of the business (i.e., age, | | | | you something new. Maybe you've learned that a |
| education, industry experience)? | | | | particular networking group does not have the level of |
| -What are your personnel needs over the next three | | | | service providers that you want to meet. Maybe you |
| years? | | | | learned that your customers would prefer the |
| -Can you calculate the cost and profit of each product | | | | convenience of ordering your products online, and that |
| service (this helps you know what to charge)? | | | | you don't need a storefront presence on the |
| Your answers needn't fill encyclopedia volumes, but it | | | | swankest street in town. It's a wonderfully liberating |
| helps to have some thoughts jotted down so that | | | | feeling when you are able to shift your mindset from "I |
| you're clear in your own mind. With this information | | | | failed because this didn't work out" to "Well, I tried it, |
| under your belt, you can confidently walk into any | | | | and it didn't provide me with the results I wanted, so I'm |
| networking meeting and explain why customers should | | | | moving on." As Thomas Edison said about his light bulb |
| be attracted to your product or service. | | | | experiments: "It's not that I failed 9,999 times; I simply |
| Add in Strategies and Tactics. Your Master Plan is | | | | found 9,999 ways that it could not be done. |
| great for giving you overall direction on how and | | | | |