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Initial startup business plan template

how to write a business plan in a day if you keep putting off your business plan because it's either too boring too overwhelming well you just don't know where to start then watch this video because you'll discover how to work in a business plan in just one day I'm Irene from Irie more calm and for the very best in start-up business coaching and success mindset tips subscribe to my channel and hit the bell to be notified when I release new videos every single Monday now today friends I am going to be showing you how to make this process as simple as possible and showing you exactly the seven steps that you need to include in a killer business plan so that you can get it done in just one day this is the exact same process that I use with the women inside my savvy startup club which is my online coaching program that helps entrepreneurial women like you start their business in just two each 12 months by the end of this video you'll know exactly what tinkly does hide your business plan but you'll also get access to my free business plan template so you can get started straight away sound good let's get started step one is your executive summary this is a short snappy overview or the key outtakes within your business plan ideally someone who reads your executive summary should be able to get a really good understanding and clear and concise understanding all the other elements inside your business plan and then they can decide if they want to invest the time and energy to read the entire plan now this may sound crazy because this is step one but I really really advise you to leave writing your executive summary to the end of your business plan once you've written everything else because that way you can go in and highlight the key outtakes that you want to include in your executive summary which will make it a real breeze to be able to write at the end step 2 is business and service descriptions here's where you're gonna get super clear on breaking down the services products offerings that you're going to have within your business and this is where you're going to make some really crucial decisions about exactly what you want to create what kind of services that you want to offer how much you want to charge or what makes your business really we need this is where you're really gonna start thinking about your unique value proposition and what makes your offerings stand out now if you're still not 100% clear on exactly what type of business that you want to launch then don't forget to watch one of my next videos which is ten service based businesses that you could start tomorrow to give you a few ideas step three is market analysis now this is where you get to discover and really start to understand your dream and customer this is so important because you want to understand exactly how your business and your services are gonna fit into their life and you're gonna start building a profile or exactly who it is that you're planning to serve this ensures that your business is taking the right steps to make sure that you're speaking to a specific person a specific type of customer so that when you're ready to launch you're launching to an actual audience and not to tumbleweed this section you also can be mapping out exactly where you sit in the market so we're gonna be gaining much deeper analysis the deeper understanding of your key competitors and ensure that you're spotting any potential gaps in the market for your unique business idea now if you have never carried out competitive research before it can feel a little overwhelming so make sure you check out on my next videos all about how to carry out market research because I think it will really help you I'll link to it in the description below step four is business management now here is what we get to know you and your team that little bit better in this section we do want to outline and have a think about the unique skills the experiences and even the passions that you have that make you the best person to be launching this business now if you're working in a sector that is completely different to you and it's completely new to you that is totally okay but it is time to keep it real and do an audit and all the skills that you need to be able to launch this business successfully that way you can start to think about who might be able to support you with this business and where you might be able to get help step 5 is marketing strategy now this is where we get into the fun stuff this is where he gets brainstorm and really strategize how are you gonna take your finish product or service and launch it out there into the world you can get it out there into the market now this will be a combination or brand building staff that's gonna help your audience get to know like and trust you such as PR and brand building personal branding and also more promotional activities such as online events or online marketing joint ventures and this is gonna be where you're gonna start figuring out exactly how your customer is going to connect and receive your product is it gonna be a physical product where is it going to be stopped what's the ideal distribution if it's an online product what's the process to them to be able to receive the part where they purchased it and this is also where we're gonna be thinking about how are you gonna nurture the people that are learning and understanding and starting to like you and your products or services what's the process there how are you gonna maintain that relationship so that you are able to service them with the right products when they're ready to buy I absolutely love marketing it's what I've done for the last 10 years for huge brands and so I really really really want to support you with this and I've created an additional video all about what makes a good marketing plan which I will link to below step 6 is sale strategy now this is the really juicy juicy stuff guys because so many people have such a deep deep fear of starting their business because I guess they don't know if it's gonna work and what they really mean is I don't know anyone is gonna buy from me now I get that and what a sell strategy does is it forces you to invest the time to really think about the pinpointing exactly how you're gonna get your dream customers from knowing about you through marketing and actually becoming a customer taking that potential lead and turning it into someone who wants to buy for you this is thinking about how you're gonna take them on a seamless journey and this is can be done by email this can be done by special offers it may even be done through a phone call but this is you getting crystal-clear and exactly how you're gonna take that potential lead and turn them into a customer or client now is a whole process to sales funnels but it really isn't as scary as it sounds and I've actually created an additional video all about what is a sales funnel and why do I need one for my business which I've linked to below now the seventh and final car of this business plan is your financial projections money money money now if you're ready to make a lot of money in your new business go ahead and drop a dollar sign in the comments for me below now this is usually where people tend to want to run for the hills because it basically means that you have to get friendly with Excel which not many people want to do and I totally get that but I don't want to hear I'm creative or not good with money because as female entrepreneurs it's really important if you understand get under the skin of what's going on with our business finances so that we can plan accordingly and make the money that we so desire in business now your financial projections are really not as scary as everyone thinks they are and they largely built up in two parts so you've got your income and you've got your expenses so let's start with income if you want to put your income together it's really looking at projecting how many units or how many courses or how many you know consult us consultations that you need to sell but how many you're planning to sell every single month and then you want to set that in line with the marketing activity that you're planning to do so here you need to think about when was that going to be when's that income going to be hitting your account is there going to be a payment upfront where you get payment before the products that issued or will they be 30 days or 60 days after the invoice has been issued just so that you can plan accordingly this is where so many people get stuck in the early years now if you look at your expenses again I'm going to split this into two separate paths okay so you've got your startup costs which are these kind of one-off course that you need to consider such as building the website or hiring some space things that you what we know buying equipment things that you're not gonna have to buy every single month using your startup costs and you want to break that out and quite some detail very very early on - you have a full and complete picture of exactly what you need the second part is your monthly running car so these are all the smaller cost such teams such as some equipment service area subscriptions anything that you need to basically keep the lights running in your business the things that you're gonna be paintball on and on again every single month I strongly recommend that you go ahead right now and plug in those running costs for the entire year because what that will do is that would focus your mind on how much you need to charge to make your business profitable so many of us get so stuck on what to charge for our businesses which charge for our services and really we just have to remind ourselves that your business solely exists to create profit for you and therefore you'll be able to create more impact so it's really important sink completely laid out for the year what your expenses are going to be so that you can charge accordingly so there you have it we now know the seven essential steps to writing a killer business plan and you can totally get this done in the day right you should now have everything you need to start getting real crystal clarity on exactly what kind of business you want to launch and start making the steps towards launching your dream business now if you're ready to really become your own boss and you're committed go ahead and write I'm ready in the comments I would love to see as many of you say that you're gonna implement the things that you've learned in this video in the next one week now don't forget to watch the other videos I have in this series where I'll be digging much deeper into marketing sales funnels financial forecasting I think they'll really help you put together a killer business plan now you know exactly what you need to put into your business plan how much easier would it have been if someone just created a fill in the blank template for you that you could just fill in alongside this video you know I want you to win right I've created that exact template for you to download for free over Eirene more calm forward slash business plan I'll also link to it below finally you know success loves company so if you found this video helpful please go ahead and share it with just one person you think it might help I look forward to reading all of your comments below by canal [Music] you [Music]