How to Write a Business Plan in 8 Steps

Writing a business plan is the first step to starting any type of company. Despite all the business planning books and software out there, a good business plan doesn't have to follow a particular format. Rather, it should be a practical action plan that is relevant to your business now.

All business plans should address certain elements of your business in order to get the results you hope to achieve. Take a few minutes and answer the following questions.

1) What is your primary business goal or objective? What do you hope to accomplish in the next three months? What is your priority?

2) Who is your ideal customer or client? Describe them in as much detail as possible. What are their demographics? Where do they search for products and services like yours? What motivates them to buy? What is their main frustration or problem that you help them solve? Write a paragraph that describes exactly who your ideal client is.

3) How will you reach these customers or clients? What marketing tactics would be most effective at attracting new clients? Consider advertising, direct mail, networking, speaking, websites, online marketing, and joint ventures. Now pick three marketing tactics that will be most effective.

4) How will you make money? What will you sell? How will you price your products and services? How will you structure your offerings so customers and clients are likely to buy more and more frequently from you?

5) How are you different from competitors? Who are your major competitors? What do you offer that these businesses don't? Why should your ideal client use your products and services over someone else's?

6) What is your project action plan? What projects need to be done in the next three months? Who is responsible for getting things done? What are the action steps for completing your project? When will each action step be finished?

7) What are your expenses? What are your start-up costs? Do you have enough money to complete your project?

8) How will you know if you are successful? What are your metrics and benchmarks? What numbers do you need to hit?

Your business plan doesn't have to be complicated or overwhelming. Sit down and write a plan for how you will accomplish everything you want to achieve in the next three months. Then, start taking action each day towards completing those projects.

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For the last ten years, Krista has helped freelancers, consultants, coaches, and other service-based businesses develop business and marketing plans. Purchase a copy of her business planning book, Fast Track Business Planning for Freelancers, Independent Contractors, and Small Service-Based Businesses at http://www.getclientstoday.com.