The Dreaded Business Plan in 4 Parts
One of the most embarrassing questions one can ask a business owner/Leader is, “may I see your Business Plan, please?” Most don’t have one. Those who do, haven’t looked at it in ages Hmmmm? Answer 4 questions, What do you sell? And no, the Rolls Royce dealer does not sell cars. What do you really sell? What result do you provide? What do your buyers excitedly tell their friends about? That is question #1
Question #2 is “who buys?” And similar to the last item it is the root answer that is needed here, the situation that your ideal buyers find themselves in when they are looking for what you sell, whether knowingly or not. If that is one eyed accordion players with a wooden leg, seeking a booking Agent, then that is the answer, or an answer. Could be many who buy. Describe them all related to what you sell. Some might call this your niche
Why do the folks described in #2 buy what I sell per #1, from me? Of all the sellers that sell what appears to be what I also sell, why do the specific subset of buyers (#2) go out of their way to buy from me? What is the unique part of the buying experience that I consistently provide that has them coming back again and again and telling two friends as well? Some might call this your ‘brand’. #3
#4 is ‘how do I make money?’ Apparently dealerships sell cars at close to cost and make the big bucks on the after service in the shop. Harley Davidson makes more than half of its money after the actual sale. Many ways, including licensing its logo. How might you make money in your sleep? How can you sell value vs hours? A hobby can be greatly satisfying, but without making money at it, it is only a hobby.
Answer the 4 questions in 20 minutes. Roll into a ball and toss into a drawer. Start over fresh, no peeking back, for 5 days. Day 6 read them all and put back in the drawer. Day 7 rest. Day 8 write your business plan in no more than 1 hour. You will then have a plan you can remember and will actually refer to, at least in your mind, when making business decisions. If someone asks about it you can probably recite it