EP 248: Why You Need A Business Plan

This is something that I don't think I have ever really done a podcast episode about.

Today, we are talking about business plans. Honestly, years ago, I used to feel people might feel a  little negative about the idea of business plans.

I think that the idea of a business plan has been there all along in the things that I teach, but I want to lean in even more to this topic this week.

So first of all, business plans are something many businesses do. This is a very normal thing, especially if you're launching a brand new business.

Anybody who's going to be giving you money, and investing in your services wants to see:

“Is this a smart investment?”

“What is the risk here versus the potential reward?”

“How is the potential payoff?”

“Can I expect growth from this?”

“What kind of return on investment ROI can I expect on this?”

A  business plan helps them to get an idea of that, and how they will know how they feel about this potential investment.

In addition, it's specifically, a plan on how you are going to make money. Focusing on how much you want to make, invest, the number of clients you need, what the offer is you plan on marketing, and how much you will charge for it.

On this week’s episode, we’ll not only establish the idea of a business plan and how to formulate one, but the understanding that if you're starting a business, you are doing so with the intention of making money, and there is nothing wrong with wanting to do that!

You’ll learn:

• Why creating a foundation for your goals will help you to be better prepared for variables that you may run across in your launches.
• How not having a plan for your business, and hoping that it will just be successful, is both risky and ineffective. 
• Why setting a business plan really helps you understand what is possible in your business.

Featured on today’s episode:

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