Why You Need A Business Plan (Plus 5 Questions To Get Started!)

You need a business plan to help you prioritize.

It provides direction for every decision you make going forward in your journey to building an online business.

Your business plan is going to be your roadmap.

A roadmap for decision making, idea creation, helping to identify gaps and test those ideas.

chalk board respresentation of all the elements that are included in a business plan.

It’ll spell out what your goals are and how you’re going to attain those goals.

What if I’m brand new? (where do I start)

You’re going to start with affiliate marketing.

If you’re brand new to online business, then I will humbly recommend you begin your journey using the affiliate model.

Learn more about the affiliate model here.

So, let’s get started with some simple questions you can answer to get a rough direction for your business plan.

  1. What’s most important to my ideal customer when they’re buying what I’m selling?
  2. How will I convert leads into sales?
  3. Where does my ideal customer “hang out”? Where can I market to them at?
  4. What are the top 3 things I need to achieve my goal?
  5. My one-year financial goal is for my business to make how much in the next 12 months?

I pulled these straight questions from a marketing training program that I’m going through. Its a 15 day business builder challenge that helps people start and grow their online business.

Here are some example answers to the questions above:

  1. That they partner with and learn from high integrity people and don’t get involved with shady companies.
  2. I will use a sales funnel, backed by a value ladder, that will offer lower ticket products initially and higher ticket offers on the backend.
  3. My ideal customer is on Facebook via the feed/messenger, Youtube watching personal development videos and on Google search looking for ways to make money online.
  4. I’ll need: 1- quality training and mentorship 2- tools such as an autoresponder service and funnel builder software 3- an exceptional mindset and long-term commitment to see that my goals are accomplished.
  5. $120,000 (This number you choose here is relative to you. )

If that’s not enough to whet your appetite to get started, here are even more questions to help structure your business plan:

I curated these from this site here.

Vision: What are you creating? What will your business look like in one year, three years, and five years?
Mission: What is your mission? Why are you starting this business, and what is the purpose?
Objectives: Are your business goals considered SMART goals? How will you measure success in achieving your goals?
Strategies: How are you going to build your business? What will you sell? What is your unique selling proposition (i.e., what makes your business different from the competition)?
Start-up Capital: What is the total amount of start-up capital you will need to launch your business?
Anticipated Expenses: What do you estimate your business’s ongoing monthly expenses will be immediately after launch, in three months, in six months, and in one year?
Desired Income: What do you anticipate your business’s ongoing monthly income will be immediately after launch, in three months, in six months, and in one year?
Action Plan: What are the specific action items and tasks you need to complete now? What are your future milestones? What will need to be accomplished by those milestones in order to meet your objectives?

For me, when I took my class from my 15 day challenge on how to develop and outline my business plan, I certainly was a bit intimidated.

But let me tell you, there’s no right or wrong way to do this.

Whether you go all-in on a traditional business plan or a roadmap style that fits you, ultimately how you choose to run your business is up to YOU.