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Navigate your Business Plan

Business planning is like shooting for the moon.

You don't want to be off by even 1 degree.

Writing a business plan is critical to the success of your new start-up. For many new business entrepreneurs, it's one of the pieces that gets overlooked, ignored or put on the back-burner until business-planningthere's time. 

Why does it tend to get forgotten about? Because it's scary and overwhelming to think about putting all of that information together! Just the term Business Plan makes most entrepreneurs think of justifying, forecasting, number-crunching and wrestling with the current state of the business. As if that isn't overwhelming enough, a business plan isn't complete without a written vision of where you want the business to be five or ten years down the road

Relax. You're not alone. 

Business is about planning, and it really never stops. The good news is that Royale Class can show you how to take this overwhelming task and make it less complicated. Use our clear and easy to follow resources to illustrate how to make this process easier - or contact us to schedule a meeting and discuss all the options that Royale Class has to make this job easier.

Keep it simple

Whether you're an independent contractor, home-based business, technology startup, or you've got your eyes set on anything from Main Street to Wall Street - or anywhere in between, make sure that your plan scales to your business needs. Scalable, in this sense, means:

  • Understanding your market
  • Having a clear view of your capial needs
  • Having a clear understanding of your budget
  • A firm grip on cash flow
  • Some basic assumptions
    • Where your business is now
    • Where you want it to be in 5-10 years
    • What it's going to take to get you there

Keep your business planning simple by breaking it into mini-plansFor a smaller business, this might be as simple as having a goal to expand your client base from four to eight by the end of the year - and having a plan to get there. This plan might include networking, building a referral base, creating a professional website, social media networking, blogging and other marketing tools. The best part about a simple plan? It can grow as your business grows. 

Break it up into Mini-Plans

You're certainly going to want a strategic business plan. But, you can break up this planning process across different functions in your business. You can create mini-plans for each area of your business and then check in on them monthly, or even weekly. 

To start with, focus on a marketing mini-plan, and update this often. Depending on your business, you might also need a technology plan, a financing plan or a staffing plan. You might also consider an expansion plan - or, again depending on the business, a franchise plan. Lay the groudwork in the early days and you'll already have a plan when the time is right.

Often over-looked planning

Don't assume that everything will be sunshine and rainbows when it comes to planning. Take the time to develop a disaster recovery plan, a succession plan and of course, the ultimate Plan B. Use the time in the early days of your business to explore what-if scenarios and possible solutions, just in case they happen. If they do, you will be a lot less stressed because you can pull the plan and implement. It's that easy. 

All of the above assumes that you're just starting out in your business adventure. But, what happens if you've already been in business for a while, but happen to be one of the business plan procrastinators? That's easy. Just schedule a time to meet with the business plan experts at Royale Class and we will work with you to identify the most critical plans and to develop templates that can be used for the remaining plans. 

There are many online and community-based organizations that can assist you with your business planning efforts and you should certainly take a look at what they have to offer. If you're not convinced or satisfied with the results, don't hesitate to give us a call at (877) 219-0644 or click here to contact us for your no-obligation analysis of all your business planning needs.