In today’s video, I talk about the importance of having a one-page business plan for your home business opportunity.
As I explain in the video, a one-page plan to keep you accountable will really help you reach your monthly targets.
Enjoy the video.
In this video I mention a post I made a few months about the top money making activities in home business – you can check it out here.
Hope you get lots of value and also feel free to check it out on YouTube here as well.
Enjoy and please share and comment!
Hi guys, Nick Pratt here, and welcome to another episode of Driving with Nick Pratt. In this episode, I am going to be discussing the importance of you having a plan for your business, a home business or MLM business plan, it really doesn’t matter what model of business you’re in. I will explain why that’s important in this episode.
Let’s talk about having a home business business plan. First of all, treat your home business, whether it’s an affiliate marketing business, network marketing business, treat it as a real business.
For a real business, let’s say you were setting up a restaurant, you would have a business plan. Of course you would. What I suggest is for your home business, you have a MLM home business plan.
What I am going to say from the outset is not to have a traditional business plan – one of those 15 page business plans where you have an executive summary, and lots of information on investments, that sort of stuff. What I am suggesting is, if you’re going into some kind of home business, have a different kind of business plan.
There’s something called a one-page business plan, and this is kind of what I’ve got in mind. This is what I do every year – I do not plan 5 years ahead. A lot of people in business do say that you can plan 3 to 5 years, or even 10 years, ahead. I personally don’t do that. I plan each year one year ahead.
The reason I do that is things are constantly changing, and it’s just such a headache to plan 5 years ahead – so much can happen in that time!
So what I recommend you do is, for each year ahead and when you’re starting your business, you want to plan the following kinds of things:
You want to plan what kind of marketing strategies you’re going to use. Are you going to be blogging, video marketing, offline networking events? Decide what kind of marketing you’re going to be hanging your hat on. That’s really important, and it’s vital to understand that before starting your business or starting a new year. Decide on that.
Think to yourself, have you actually created this kind of plan for myself?
Think about how much each sign-up is worth to you. This could be a new customer, it could be a new person on your team, but think about how much money that actually brings in, and how many sign-ups you need to make per month for your specific targets.
Another thing to include is how often do you plan to market? Do you market every Monday, Wednesday and Friday in the evenings? Are you going to do it 5 days per week, 7 days per week? What are your hours of operation going to be?
I recommend settling that. This is also known as having a daily routine.
In other videos, I have talked about the core income earning activities you need to be focusing on in building your business – you can check out my video on the top income earning activities here.
Your one page business plan needs to have these kinds of things. It needs to cover what kind of marketing you’ll be doing each week, how you’re going to be doing it, and what your targets are each month.
That way at the end of a month, you can look at that data and say “I wanted to sponsor 15 people this month, and I only sponsored 8, so something has got to change.”
It gives you some accountability.
I do think it’s important to have a business plan, but definitely not a full traditional business plan. I have produced those in the past for other opportunities and models when I was in consultancy. For something like a home business, you want to keep it pretty simple, but you still need to sort of the details.
If you need direction with this or help with marketing, please add me to Facebook.