Updated November 8th, 2023.
In business, success often hinges on planning and careful execution. That is why creating a Business Blueprint is so essential.
Today, you will learn how to create a plan for the new year. As a result, you’ll also learn how to attract and serve more ideal, profitable clients.
What is a Business Blueprint?
A Business Blueprint (also known as a business plan) is like the roadmap for your business. It’s a comprehensive and strategic plan that outlines a business owner’s goals, objectives, and steps to take to achieve them.
Think of it as your North Star, guiding you through the sometimes turbulent waters of your business.
Why is it Important?
A few years ago, I was advising a team of advisors. They were excited about their opportunities but were facing financial challenges.
The first step was to create a blueprint tailored to their unique situation.
The blueprint helped them secure a business line of credit from a local bank to help them manage short-term cash flow effectively.
With their blueprint, they were able to address:
- Financial challenges
- Increasing their business checking account balance
- Payment acceptance methods (Previously, they only accepted checks.).
- Exploring opportunities for external business bank accounts.
- High net worth and business products that better served their affluent clients.
How a Business Plan Works
Let’s break down how a business blueprint works step by step:
The first step is to assess your business’s current state. This includes evaluating your financial health and market position and identifying challenges and opportunities.
2. Set Goals
Then, set specific, measurable, achievable, relevant, and time-bound (SMART) goals. These goals should align with your vision for the business.
3. Strategies and Action Plans
Once you set goals, your focus needs to shift to the execution that makes them possible. Examples include marketing, lead generation, selling, and operational improvements.
4. Budget and Spending Plan
Your business blueprint should also include:
- A marketing and sales plan for your business
- The breakdown of expenses
- Your revenue projections
- Considerations for external funding options such as a business line of credit or loans if you don’t have adequate cash flow
5. Monitoring and Adjusting
A business blueprint is not set in stone; it’s a living document that needs regular review and adjustments to align with your business’s evolving needs and goals.
The 3-Step Business Blueprint
Now, you may wonder how to create and implement a business plan.
Our business plan includes a formula to achieve results.
The first step is to create a solid foundation, your inner game. For example, it will include your mission, vision, goals, and strategies to elevate your Worth Barometer. Your Worth Barometer is a combination of your beliefs and self-esteem. It is also the biggest determinant of the quality of your life and your results.
The second step is creating a strategy, your game plan. It consists of a plan to achieve your goal.
The third step is to consistently execute, which is your outer game. It entails implementing your business plan and achieving your desired results.
Conclusion – How to Create Your Business Blueprint
A business blueprint is more than a document; it’s your guide to success. It’s a tool that helps advisors and coaches chart a clear path toward their goals.
To secure your business’s future, start by creating and implementing a business plan with this roadmap. Your plan is a dynamic and essential part of your business’s journey designed to propel you toward lasting success.
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