One of the greatest challenges facing many entrepreneurs and small business owners is focus. Many new businesses fail because the owners fail to marry their grand ideas with actual action plans.
My business coach challenged me to write down my current business plan. I did that nearly three years ago when I started Cross Digital, but my company looks much different now than when it started, and the plan on paper didn’t evolve with the plan in my head.
Making Your Plan
The first question when writing a business plan is:
What will you sell?
For a business owner or entrepreneur, knowing the answer to this question is critical to your success. Whether you sell a product or a service, you MUST know EXACTLY what you sell.
And be specific. Don’t say you plan to sell food. Tell me exactly what kind of food you will sell.
For example, my dad sold commercial ice machines for more than 30 years when he owned his business.
In my case, I sell:
Live Streaming / Internet Broadcasting
Examples of our Live Streaming and Internet Broadcasting include the Husky Fast Network and Game Day Bunker, Group Coaching via Youversation.com, and live event A/V support at events such as the GULF Youth Experience this past weekend.
Our mission is very clear, although it didn’t start out that way. I started Cross Digital as a “content marketing” company. The problem? I didn’t have a target audience nor a niche.
Now, I know exactly what I sell and who I sell it to. Clarity leads to smart goals.
What do you sell?