Business is a Journey

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Business is a Journey

• Do You Have a Road Map?

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Would You

• Embark on a journey with no destination in mind?
• Leave without mapping out a route?
• Not check out your vehicle before and
  periodically during the trip?
• Have no idea of conditions ahead or other
  external factors?
• Leave without knowing the estimated cost of the
  trip and ensuring enough unexpected expense
  funding?
• Give no thought to rest stops?

Many people approach their businesses in just
this manner and frequently encounter unexpected
events that a little planning could have avoided.
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A BUSINESS PLAN is your Road Map IT IS
COMPRISED OF THE GOALS, STRATEGIES, AND ACTIONS
NEEDED TO TAKE YOU FROM WHERE YOU ARE TO WHERE
YOU WANT TO BE.
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Your Roadmap is an Achievement Plan

• IF YOU DONT KNOW WHERE YOU ARE GOING How will
  you know if you are headed in the right
  directionOR
• When you have arrived?

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Business (Achievement) Plan Misconceptions

• Business Plans are ONLY necessary for start-up
  businesses
• Business Plans are scary and difficult to prepare
• Business plans are an overkill for small
  businesses
• You can plan or you can do but you cant plan
  to do both!
• I dont have time!!!

If business plans were not important to the
overall success of your business, major
corporations would not put so much effort into
developing their business plans!
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Common Business Challenges

• Overwhelmed by day-to-day responsibilities
• Rapid or periodic surges in business
• Overall business growth slow or non-existent
• Funds for marketing/promotion
• Non-revenue producing marketing
• Treadmill Syndrome
• Deer in the Headlights Syndrome (I dont know
  what to do next)

In the daily course of business, you are
bombarded with hundreds of tasks that demand your
attention. Knowing what tasks support your
goals and objectives allows you to concentrate on
those things that will get you to your planned
destination. Otherwise, it is too easy to spend
valuable time working on things that will not
generate value.
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An Achievement Plan is About Action

• Enables You to be Proactive, Not Reactive
• Maintains Focus (Strategy FOCUS)
• Guides Your Growth
• Manages Priorities
• Allows Business to be Fluid - Not Static
• Cash Planning (companies dont spend profits,
  they spend cash!)

Have you ever noticed that those things that you
have clearly defined in your mind and intently
focus on materialize for you? An Achievement
Plan allows you to clearly define for you and the
Universe what you will achieve.
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Planning For Success

• The Value of Goal Setting
• Only 3 set goals and pursue them
• Those 3 are financially independent and earn 10
  times more
• 10 set them, but do not track
• Those 10 are well-off
• 60 set goals during crisis and abandon
  afterwards
• Those 60 live paycheck to paycheck
• 20 do not set any goals
• Those 20 need financial assistance to survive
• Yale U. 50 year study

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Business Plan Types

• Operational Business Plan
• Is an Achievement Plan
• Clearly sets goals, strategies and actions
• Rarely drafted for more than one year
• Able to be modified and redeployed at the speed
  of business
• Reviewed at frequent intervals
• Sets framework for Marketing Plan, Sales Plan,
  Resource Plan, Acquisition Plan, Financial Plan,
  Promotion Plan, etc.
• Investor/Loan Acquisition Plan
• Expansive Operational Plan
• Three to five year duration
• Absolutely required for business funding
• More detailed in area of management, capital
  resources, staffing, financials, succession
  planning, etc.
• Contingency Plan
• Essential to all businesses, regardless of plan
  type

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What is the difference between a Business Plan
and a Marketing Plan?

• A Business Plan is the foundation that sets the
  boundaries for your business. Think of it as
  your business constitution.
• A Marketing Plan defines the actions you are
  going to employ within the business plan
  boundaries.

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RECOMMENDATION
Unless you are seeking a business loan or outside
investment, Consider using a Hybrid
Business/Marketing Plan to create an ACHIEVEMENT
PLAN
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Hybrid Operational Achievement Plan

• Designed to plan and manage day-to-day business
• Flexible and easily executed
• Better structured for small businesses
• Combines key business and marketing plan elements
• Allows for on-going measurement of progress
• Eliminates tendency for planning to become a
  full-time career at the cost of doing business

It doesnt have to be formal or fancySet aside
some time and write down (for your business) Who
You Are, What You Do, and Why You Do It. Then,
build an action plan that clearly states What You
Will Achieve, When You Will Achieve It and How
You Will Achieve It
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Key Elements of a Hybrid Plan
Action
Foundation
What You Will Achieve When You Will Achieve
It How You Will Achieve It
Who You Are What You Do Why You Do It
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• Foundation
• Who You Are What You Do
• Why You Do It
• Vision
• Mission
• Company Profile
• Leadership Summary
• Products and/or Services
• Target Market
• Elevator Speech
• Competitive Positioning
• Pricing
• Market Opportunity

• Action
• What You Will Achieve
• When You Will Achieve It
• How You Will Achieve It
• Objective (s)
• Goals
• Strategies
• Execution Timeline
• Action Plan
• Key Marketing Messages
• Revenue/Sales Projections
• Gap Assessment
• Marketing Promotion Plan

Financial Assessment Sales Forecasts, Operating
Expenses, Taxes, Payroll, Marketing Budget, Cash
Flow Analysis
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Success Points to Ponder

• Understand WHY you want your own business and
  keep that foremost in your mind
• PLAN
• Create and Use a Business Plan
• Create and Use a Marketing Plan
• Set and focus on Achievement Goals and Milestones
  
• Set-up Periodic Checkpoints and adjust your
  course as necessary
• Build in Rest Stops along the way
• Stay Focused and Energized

• Your Business and Marketing Plans Are Your
  Roadmaps!

IF YOU DONT KNOW WHERE YOU ARE GOING How will
you know if you are headed in the right direction?
Think SMART Make Your Goals S StrategicM
MeasurableA AchievableR RepeatableT
Timely
QBMG does not imply or guarantee any degree of
business success by using the information
contained within this document. QBMG assumes no
liability for errors or omissions.
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Business is a Journey

• Have a Prosperous Trip!!