These Savvies explore the topic of Business in more detail —
One of the most basic — and most essential — activities you need to perform is to create your business plan. But not just any business plan, and certainly not a business plan that's appropriate for most businesses. No, you need a speaker's business plan, a working, written business plan that's crafted specifically to meet the unique challenges faced by professional speakers.
Your vision (or mission) for your business, your goals for your business, and your business plans are all essential to your success... but they're very different things.
Operating without a written plan is a formula for disaster. Here's why....
Now that you understand the difference between your vision for your business and your plan for how you'll achieve that vision, let's consider actually developing your business plan. Putting it another way, you need to develop a business plan plan!
What sort of business plan should you write? Generally speaking, there are two types of business plans — “formal” business plans and “working” business plans. They're very different types of plans, and you need to be sure that you're developing the right one for you!
A formal business plan can be a lifesaver for your company... or it can be a complete waste of time.
"E Pluribus Unum" is Latin for "one from many". It's the motto of the United States, but it also describes an effective way of developing your business plan — create a series of smaller, more specialized plans.
Because your business plan is ultimately going to be a rather large document, developed over a considerable period of time, the first thing I recommend you do is set up a plan status summary.
Your Business Summary describes your business operation as a general overview. (In formal business plans, this is commonly called the “executive summary.”) It might surprise you that you should write your summary before you write your plan.
The ‘company history’ section is where you write a historical summary of your business. In other words, in this section you describe your company’s past. Even if you're a brand-new startup, documenting your company’s "past" is vital to your success!