Updated: Nov 8, 2021
An action plan for starting your business
When you start your new business, you need to have an action plan that lays out a path of all the steps your business needs to succeed. You need to consider everything from your first customer to your 5-year vision. But to build this plan you need to ask yourself the right questions:
What does your business do?
Who are you selling to?
How are people going to hear about you?
How are you going to grow?
Building a Business Plan
You need to think about 2 things - your business and your customers. Consider who you are and who you are selling too.
What service do you offer or what product do you sell?
Whether you selling designer dresses or painting portraits, your brand is who you are. Think about what makes your approach unique and why people might choose your business over your competitors. Your USP or a value-added service. These details will help you identify your customers.
Who needs this service or wants this product? Who is your target audience?
Now it’s time to consider your customers. Who are they? Break down you’re offering and imagine what your average customer is like. Brainstorm their interests, what social media they use, where they shop, how they hear about businesses like yours and then go further. Build a customer profile; design your strategy around your customers.
An Example –
Let’s say you design shoes for puppies...
Your customers are going to be dog owners and animal lovers with a keen fashion sense. You might want to advertise in your local vet office or on new puppy forums.
Later along the line you might want to branch into designer puppy jackets or hats as you grow. You may even want to consider partnering with a local puppy trainer and offer discounts to their customers.
Contrary to popular belief a million followers doesn’t mean you’re marketing your business well. It’s the quality of your audience that counts! Your customers shape your business plan, make sure you know who they are.
Get to know your customers - Their interests, their tastes and their shopping habits
If you can understand your customers, you are planning for success. At For Business Sake, we specialise in turning ideas into action and building businesses from passions. We’ve developed a workbook that helps you do just this, where we explain the process of constructing your business plan from the ground up, covering everything from brand planning to gaining investment and joint venture arrangements.
If you’re still struggling to build a customer profile or need help reaching your target audience, our Passionpreneur Pocket Workbook has all the guidance you need to complete the 40 steps to ensure your business succeeds.
IF YOU NEED HELP STARTING YOUR BUSINESS WHY NOT BUY OUR LATEST BOOK –