Before you know it, we’ll be in a new year, which is crazy to me! Each year goes faster than the last. I want you to take a little time before the end of the year to revamp your business plan, and I’m going to help you!
A business plan is all about reflection and vision. At the end of the year you should always be checking in with your goals when you first started your business, your goals at the beginning of the year, and what goals you’re going to make for the next year.
I will be honest, I’m not good at sticking to goals. I always forget to map out my goals, and so they either don’t get done, or I forget to celebrate them because I’m on to the next thing. I like the word “plan” much better. I could plan out content and ideas all day long. So, today we’re going to talk about how to revamp your business plan in 5 easy steps.
Reflecting on “your why” is an important and easy place to start. Sometimes we get lost or so disconnected from who we were when we started our businesses, we need to take a look back at that girl.
Why did you start your business? What did you hope to accomplish? How did you want to serve others?
I usually start a new notebook to jot down my business plan for the next year. Write down some thoughts you remember having when you started your business. What were your dreams? What did you hope you’d do? Have you done those things? Are you the same excited girl who started this thing, or are you feeling burnt out?
Remember your why, and see what you can do in your business plan this year to honor your why.
Your Ideal Client
I preach this time and time again…Everything your brand puts out in the world should be to benefit your ideal client. Whether you’re sharing a personal story on Instagram, blogging about a new product you’re trying, or sending out a newsletter about your new holiday offerings…
Every single thing needs to speak to your ideal client. If you’re not doing that, you’re wasting your time.
If you don’t know who your ideal client is, now is the time to figure it out! Ask yourself a few of these questions to get you started:
- Is your ideal client male or female?
- What does he/she do?
- Where does he/she live?
- How old is he/she?
- Is he/she single or married?
- Does he/she have children?
- Did he/she go to college, or are they currently attending?
- Where does he/she love to shop?
- What does he/she do in their free time?
- What problem do you solve for he/she?
Answering just these 10 questions should help you figure out so much about your ideal client! You can now determine if you should be speaking to your ideal client in a casual or professional voice, what information they would find valuable, and how you can relate to them better.
Now it’s time to do some dreaming. All year long you’ve probably spent more time working in your business (with admin tasks and keeping up with the workload) and not much time working on your business. Determine your big goals for the year, the profit margin you’d like to have, and what things you can get off your plate.
Your business can only grow if you start handing off tasks to capable people so you can continue carrying out the vision.
Consider these things:
- I want to do less of _____
- I want to do more of _____
- What worked this year
- What didn’t work this year
- How can I do things this year that will benefit me in 5 or 10 years?
Money, Money, Money
As business owners, we actually have to make money. As artists, makers, and creatives, it’s sometimes hard to put a price tag on our creativity. But, we have to in order to support our families and have a sustainable business.
Did you do too many things for free this year? Practice saying no to collaborations that aren’t going to push you forward.
Be frugal in your business decisions. I want you to support other business owners when you can, but if you can swap services instead, go for it! Money doesn’t have to be exchanged, and you’re each getting something valuable from the other!
Raise your prices. If you’re working more than you’d like to and you’re making less than you need to, it’s time to raise those prices! Be sure to charge what you’re worth and try to only work with your ideal clients. If you are worried about raising your prices, try adding value to what you offer without actually adding something that costs you!
Find a Balance
I am a firm believer in hustling – during work hours. I want to encourage you to check in on your priorities today. Has your business been put first too many times? If it has that’s okay, we’ve all been there. Myself included.
Think about when you’re 80 sitting on your front porch swing, looking back at your life. Will you look back and regret the decisions you made? Or will you be pleased?
Only you know the answer for that question. I decided to put family first at the beginning of 2017 because I didn’t do that my first 2 years of marriage. I knew that 60 years from now I would be disappointed in myself if I spent my twenties constantly in front of a computer instead of making memories with my husband and my family.
Some ways you can start finding balance is by doing these things:
- Get up early instead of staying up late
- Mark your calendar with your family or personal plans, then plan business related things
- Say no to things and people who aren’t going to push your business forward so you can say yes to those who do (resulting in a manageable calendar)
- Create work hours that work for you and your family and STICK TO THEM
- Batch your tasks so you get more done in less time
- Make Fridays half-days, you work hard all week long, take some time for you or your family at the end
- Make time for a hobby that brings you joy
- Take a day or week off and spend it with the important people in your life
I hope these tips help you revamp your business plan, leaving some room for you to grow and learn! I can’t wait to see what you do in 2018!
ABOUT THE AUTHOR
Morgan Anderson, Morgan Anderson
I’m a 25 year old girl from a small town in Ohio. Most days you can find me working in my home office with a (not so cute) messy bun, yoga pants, and my Australian Shepherd puppy, Ben, at my feet. I have been a wedding photographer for three years, a blogger for five, and have been dreaming too big since 1992. I went to college to become a History teacher, after a year of studying, I turned in my textbooks and pursued curiosity. Now I travel, explore, and learn anytime I can. (With my camera, of course)