Creating a
Business Plan
Do you know what
the number one reason why businesses fail is? According to the Harvard
Business Review, it is because they fail to execute a good business plan.
Harvard University
dedicates a lot of resources and some of the world’s best minds to their
research so I would keep this fact in the forefront of your mind as you position
your business for success in 2009.
There are some
simple components that should be part of every good business plan and they
are:
1.
Business Purpose or Mission Statement
2.
Company Goals
3.
Objectives in Support of Goals
4.
Action Strategies
5.
A Means to Monitor and Evaluate your Goals
Once you’ve
completed the components above you should be able define what your business is
about, what the goals are that you want to achieve and who your target market
is. When setting your goals, I suggest you limit them to 2 or 3 measurable and
achievable goals. Since goals are often significant milestones that require a
few steps before realization, it’s good to set objectives in support of those
goals.
For instance,
let’s say your goal is to increase your current revenue by 25% this year. Your
first objective might be to increase your customer roster from 15 to 20 clients
in the 1st quarter. Your strategy might involve an email campaign
and a contest and certain times and intervals.
Finally you have
to determine a system that will ensure you are monitoring and evaluating your
goals on a regular basis.
For example, if by
the third quarter of this year your revenue has actually gone up only 5%, then
you need to re-examine your objectives and strategies. You’ll likely find that
you weren’t hitting your objectives of increasing your client roster or
promoting in targeted venues, etc.
By monitoring and
evaluating your plan regularly, you can make adjustments and changes to the plan
to better ensure. that your goals are met for the year.
It’s not just a
“good idea” to put into place a functioning, measurable plan; it’s a necessity
that could mean the difference between your business thriving or just surviving
come year-end.
Inspiration
Have you ever
participated in an educational seminar where the instructor involved you in some
activity that helped to excite or inspire you about the topic to be discussed?
Sometimes when
important work is before us, the kind that requires detailed thought and
motivation in order to create something valuable and unique, we need a little
inspiration.
For me,
inspiration is like a magic pill that awakens our creativity and raises our
potential. It’s like looking at the before and after picture of someone that
has lost a lot of weight. Doesn’t it inspire you to think that you can achieve
that goal as well (if you could do with losing a few pounds)?
Well I have some
inspiration for work at home moms thinking of ways that they can take action to
realize their dreams and boost their family incomes. The good thing is there’s
nothing “magic” about this inspiration, it’s reality at its finest.
Last year I
gave an interview highlighting my top tips for success online. This interview
was included in the Full Time WAHM Guide. Along with my interview you'll read
about 21 other moms who are making a full time income from the comfort of their
homes - if these moms can do it so can you.
I urge you to
grab a copy if you haven't had a chance to do so, it's the perfect way to start
the business year. The guide is very
reasonably priced and available for immediate download. The inspiration, ideas
and clear cut advice within its pages will motivate you to take action and get
started on the right foot. Go to:
http://www.internetbasedmoms.com/m/full-time.html to get started.
Getting Body and
Mind in Shape
Okay, so now
you’re all set to whip up a simple, but measurable business plan for the new
year. But what about that other important “going concern” namely your personal
health?
In the interest of
women everywhere who are concerned about getting both body and mind into shape
this year, I thought I’d share a few health tips:
-
Make time for
family and friends – these relationships need to be nurtured and can help to
give us some psychological and social balance that we need on a regular
basis.
-
Create a
meaningful family budget - financial problems cause stress and often arise
when we over-spend on our “wants” instead of our “needs.”
-
Build in at
least 10-minutes of physical activity (exercise) several times throughout
the day. Try to build up to 30-minutes of physical activity every day.
-
While watching
TV or reading posts like those on our Internet Based Moms discussion board
do stretches or work with hand weights.
-
Try to think
of destinations that you can walk to like the store, your child’s school, a
restaurant or a friend’s house. Then, the next time you have to go
there…WALK!
-
Housework can
improve your endurance, strength and flexibility along with burning
calories. The next time you’re feeling less than inspired about cleaning
the family bathroom put some music on…and think about how you’re improved
business plan will soon help you to pay for someone else to clean this
bathroom!