How To Write A Business Plan In 5 Simple Steps

Does your business have a business plan? Today I’ll take the mystery out of how to write a business plan, and show you 5 simple steps that anyone can use. This will help you write a business plan whether you’re just starting or have been at it for years.

So let’s get into it!

I’ve been working with businesses for over 15 years. One thing I’ve noticed is that when many of my clients come to me, they don’t really have a business plan. In fact, I’ve found that most small businesses don’t have a plan down on paper. Can you do business without a business plan? Of course!

But I have found personally that many of my biggest income jumps arrived when I had a business plan in place. In fact, the first year I hit 6 figures, I had a very simple one on paper, and that made all the difference. And I’ve been writing business plans on a regular basis ever since.

So what exactly IS a business plan?

Quite simply, it’s just a plan for your business! But as obvious as that sounds, people do often get hung up on the idea of writing a business plan, and I understand why.

But business plans don’t have to be complicated. You don’t have to sit down and write a 20-page prospectus for your plan to be effective. All you really need is a simple vision of where you want your business to go, a goal, and a plan to get there. That’s it!

I believe that most people get the idea of a business plan, but overthink it and don’t know where to start in writing one. But luckily, it’s really simple. In fact, writing your business plan can be exciting and fun!

So here I’ll walk you through my super-simple 5-step process to write your business plan. All you need is a notebook, a pen, and a vision of where you want to go from here. Let’s get started!

How to write your business plan in 5 simple steps

Step 1: Determine your MISSION.

Take a moment and think about these questions:

Why am I in business? What is my mission?

What am I offering, to whom, and to how many people?

This is the time to reflect on your “why” for creating your business in the first place. Why are you in business, what is your mission in your business, and how do you help people? Write down what you do, who you do it for, and why you do it.

Step 2: Determine how you want to spend your TIME.

Now consider what you want your business to look like in terms of how you spend your time. I realized how important this is the hard way. That’s because many of the business plans I made in the past fell apart for one important reason: they clashed with how I wanted to spend my time.

So consider things like how available do you want to be to customers, clients, etc. How many calls, clients, presentations, etc. would you have the bandwidth for? How do you want to spend your time and energy each day?

Hare some questions to consider so you can envision how you want your day-to-day business life to be:

How do I want to live each day? What would my ideal schedule look like?

How available do I want to be (for clients, customers, etc.)?

Can I automate, delegate, or eliminate things to reach that availability goal?

Reflect on these questions and write down a vision of how you want to LIVE in your business.

Step 3: Create Your Money Goals

Now, let’s determine how much money you want to make, and how your business plan can support you in that goal.

I’ve noticed over the years that most business owners can’t increase their income much more than 20-25% without a plan. That’s because any larger growth than this usually requires more resources. So if you’re ready to move to the next level with your business income, or if you have an income “stretch goal,” what would it take to make that happen?

Write down what comes up for you with this question, and get that goal down on paper.

Step 4: What do I need to focus on now?

Based on your answers in the first 3 steps, ask yourself what services or products you need to focus on the most. Then ask yourself if these products and services will help you reach your income and lifestyle goals, OR if you’ll have to adjust your pricing for these things to align.

Step 5: Create a business budget that expands to meet your goals

One thing I know for sure when it comes to this step: simply “making more money” alone isn’t enough. You need to be able to keep more of the money you make, and manage it in a way that will support your goals. How can you do that? Here are a few important steps:

1-Determine how much you need for your personal budget.

2-Review your profit margins to ensure you’re making enough to run your business, pay yourself, and save for both taxes and research and development.

There you have it! Use these 5 steps to write out your vision, goals, and plans for the upcoming year and watch what happens.

So what do you think? Which steps are you going to take today, and which one resonated with you the most? I’d love to know if you have any questions, concerns, or thoughts on this process.

AND, if you’re feeling lost or confused about any of these steps OR you simply want to get more personal guidance and feedback on your plans, I’m here for you!

As a wealth coach, I can help you create your plan so you can build your business in a way that supports your vision, goals, and dreams. We can create a clear vision of what it takes to get there, and the practical steps tp make it happen.

If you’re ready to make that leap, let’s chat! Book a FREE 20-minute call with me HERE, and we’ll see what your next big move is in your business.

Until next time,

Love, light, and MONEY, Honey…

Kaylee