Did you know there is a correlation of a business plan and time management?
Managing your time better begins with planning. Do you have a written business plan?
When you develop a business plan it puts you in a position to win, rather than making fear-based decisions that rob you of time, money and opportunity .Instead you can focus your time and energy on the accomplishment of your business goals.
Creating a business plan can be overwhelming, especially to first time and solo business owners. This overwhelming feeling creates many businesses without a plan of direction.
To help you get started is a simplified version to help guide you. Remember, even with guidelines, MAKE THE PLAN YOURS.
Create Your Business Plan with These 5 Steps
Step 1: Create a Vision into a Powerful Summary
The Vision Summary is the most vital portion of your plan. These questions will get you started:
1. What is your business idea?
2. For your business, what are your visions and goals?
3. Who will manage your business and what qualifications needed? The tasks and jobs needed to run your business, write them down, even if you the sole operator. Completing this task will propel you to the next step.
4. Who is your target market?
5. What sets your business apart from the competition?
6. What makes your product or service desirable?
Step 2: Who will Operate the Business?
Here is where you expand on your answer to Question 3 above to determine your needs for staffing.
1. Are you going to partner or team up with any independent contractors or will you hire somebody to fill those gaps?
2. Who will they be?
3. What are the grounds for their choosing?
4. Where will you find a group of advisers to help your business?
Step 3: Marketing Plan
1. How are you going to find customers?
2. How will you reach them?
3. Describe your ideal buyer
Step 4: Who is Your Competition
Yes , we all have them. Don’t kid yourself thinking you’re unique. If you are unique and have a great product, you’ll soon have competition.
Where can you find info on your competition?
1. The internet is a resource of information; use search engines, company websites, policies, and publications for competition info.
2. Pose as a potential client and create a list of questions for the competition, conduct an interview, request materials, and evaluate marketing materials.
3. Use your public library.
Step 5: The Financial Report
1. What will be your start-up cost?
2. List your operating expenses.
3. Sales: How will expenses be covered? What marketing strategies will be implemented? How will initial investments be recouped? How will salary be drawn? Business expansion?
4. How will cash flow problems be taken care in your business?
This is a very simple basic plan to get you started. You may need a more detailed one as your business progresses or if you seek capital investment.
After you complete these steps, type your responses and put them into a binder. Read it often. Put time into your schedule to review it, then add items or modify it when it’s necessary.
Your business success relies on a road map called your business plan. The plan is a critical starting point because it will lay out your goals. Better to aim at a sure target than shoot wildly into the sky hoping to hit something. If you don’t have a business plan, use these steps and get started today.
Dave Weckl – Solo (Live Beirut – Lebanon)
For the first time, the legendary drummer Dave Weckl was in Beirut for a drum clinic organized by Mozart Chahine and Yamaha Music Gulf.
The event took place at Music Hall on the 5th of November 2015.
During the clinic, Weckl provided a rare opportunity to experience his drumming technique up-close by performing and demonstrating many of his approaches to the drumset, and answered questions of the attendees.