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hey guys it's Jenny silver and today I want to help you to create your business plan I'm going to walk you through each step of the way of the important elements to include in a thorough business plan template I'm going to use is available in my resource library for my California entrepreneurs collect there's a lot of tools to add us the link to join is in the description down below now you can download a simplified version of my business plan template completely for free by clicking the link in the video description and customizing the template with a free account of canva first thing we're going to focus on is on creating an executive summary this is going to be an overarching step back sort of look at your business and your plans we want this to include a mission statement which is going to talk about the overarching mission purpose of your business and why you exist and what you hope to accomplish following that you want to give a brief business summary this is going to briefly go over exactly what products or Services your business offer offers and whom you serve this can also include brief descriptions of exactly how your business operates day to day the third thing on this page is going to be Financial notes anything important that you need to note about your business's finances including how it is run who manages it and if you have any startup goals for acquiring funding now our goals are going to grow and change over time who we are what we offer and who we serve and exactly how we do that as a business are also going to evolve however many of the seeds that we need to plant early on to reach our initial long-term goals have to be thought through early so that those seeds can be planted early and begin to grow and eventually get us to that long-term goal so even if you do ebb and flow navigate a different direction or change your goals in the future you do want to start out still planning long term next is an important part in the process that a lot of people Skip and it is creating an elevator pitch you are going to meet people left and right that ask who you are what your business does and essentially why they should become a customer of yours you need to have this nailed down and you need to know how to best represent yourself when presented with these situations do say to someone if you were trapped in an elevator with them you only had 15 seconds from floor to floor and you had to pitch your business to them describing who you are who you help and why they should be a customer next you're going to think through the pillars of your business what are the core values of your business that are so incredibly important that will drive forward every decision that is made for your business think about the purpose of your business why do you exist and why is your brand important next think about the personality of your brand your brand and your business need a voice a tone and a personality that speaks directly to your Target customers this is going to help you to further Define every action that your business takes and what tone those messages are delivered in by identifying which pillars hold up your business personality next thing about your company's values what are your non-negotiables what are really important values that you want your company to be a propellant of and to uphold in your business as well as in the community and in the eyes of your customers moving on you're going to next think of your team members your suppliers and your day-to-day operations and Logistics essentially how are you going to get the work done what systems are going to be in place and who is going to do it next plan out your launch timeline exactly what is going to need to happen in what order before you are open and receiving orders commissions or making sales with customers and clients next is going to be to calculate your cost of doing business what are the expenses that are involved with Simply Having your doors even if they are theoretical doors open in your business up and running there's a certain amount of money that you have to pay in order to have a business cover your business expenses if you have employees if you have day-to-day costs and products and services that have materials costs and labor involved in them now this spans a wide variety of different things that is going to be industry specific I have a cost of doing business calculator that is available for you to to download in the video description now once you have calculated out your cost of doing business the next step is to identify your services your pricing and your products now the next component is incredibly important and it is your marketing plan try not to overthink this one because marketing to a certain effect is going to be a lot of trial and error you're going to need to do some market research you're going to need to do some test ads in the methods that you are planning on utilizing and see what gets the most response so you do want to have a plan here but you also want to make sure that you are monitoring those marketing attempts seeing what is working and evolving that plan based on the results that you are getting back first I want you to think about your online presence think about your website your blog and any platforms that you plan to create content on next think through social media with social media it is really easy to get spread far too thin in a way where you are not capable of maintaining all of the platforms at the same time unless you're someone who is utilizing the services of a social media manager I want you to start small and consistent choose one or two platforms that you know your Target customers are hanging out on not you but your Target customers really get into their brains figure out where they are on the internet and Target your ads to them specifically the next piece of the marketing puzzle is going to be online content creation Now when we think of retail stores brick and mortar stores restaurants things like that your mind may not immediately go to needing to create content online however this is incredibly valuable piece of the process for all businesses goes for all types of businesses I want you to think about your Target customer think about where they are online what they are searching for what they are reading what they are watching how can you reach them on those platforms what type of valuable content can you create that then leads them over to your business presence online your website your social media your sales Pages Etc next I want you to think about how you can drive traffic in a more powerful way to your business you create a plan for improving your SEO can you utilize paid ads can you consider cross promotions with other businesses the list can go on and on next I want you to think about your sales funnel and this does also apply to in-person businesses as well as online when we think of sales funnels we frequently think of online content creators selling courses and getting lead giving away lead magnets getting opt-ins but this can also apply to Brick and Mortar businesses as well just in a different method that is more in person think about your lead magnet how are you going to draw in customers and clients from a wider audience next how are you going to add additional value build brand recognition and Trust next how are you going to offer them something that they can purchase and finally once they do decide to purchase how are you going to upsell them and increase the value of that sale next think through if you will be utilizing influencers and Affiliates in your marketing plan influencers and Affiliates are individuals that make Partnerships with Brands and businesses in order to share those products and services share affiliate links or perhaps test out a product or recommend it to their audience and endorse it in exchange for receiving either an agreed-upon lump sum or an affiliate commission every time a sale is made this can be a powerful tool for reaching your Target customers with someone that they already trust so I want you to think through your advertising budget how much money do you have to invest in paid advertising and in marketing materials get some sort of starting point and then keep in mind that you're going to want to have a plan for scaling up once you begin to reach profitability in your business next thing through your workflow and your systems what are you going to be automating what tools platforms and applications are you going to use in order to streamline your process and make things a more simplified and automatic you want to make sure that you have those basic systems for operation in place before you launch so that you are ready to receive the customers as they come this includes things like thinking through the process of working with a client from start to finish the exact transactions that are going to occur how you are going to collect money how are you going to send contracts Etc think through a road map to your business where a customer starts at the beginning from finding you and what process they go go through from start to finish next make sure that you have thought through the protocols standards and procedures that you're going to be sharing with your customers and clients you want to have a clear easy to understand process from the customer's standpoint as well so things like communication guidelines how to contact you the expectations between the client and the business all need to be set up in advance if our many service-based businesses this is going to include obtaining and making sure that you understand contracts and service agreements that you need to have in place next I want you to set out goals for yourself what goals are going to need to be accomplished short term and long term where would you like to be a year from now three years from now five years from now and what are the exact goals that need to happen month to month in order to try your best to meet those expectations next is going to be your financial forecast here I want you to think through your overall budget for your business where your costs are are going to be and what you're going to need to maintain okay you guys so I hope that was helpful I want to give you a copy of this template for your own use you can completely customize it with a free account in canvas so click the link in the video description down below and you will receive a copy of the template directly to your email now for those of you that want more help with your businesses you can either check out the California entrepreneur Collective or if you are not in the state of California you can access the entrepreneurs toolkit which is a fantastic kit of lots of tools so that you do not have to reinvent the wheel yourself you can plan grow and Market your business quickly and easily