What Is A Business Plan?
I have stood on the mountain and shouted, like a bully. Now let’s have some conversation. I will be doing a lot of series in the coming weeks that will cover business planning and development, and will hopefully move on to branding and so forth.
What is a business Plan?
I have written so many times that when developing a website, if you want to successfully monetize it, you should write a solid business plan. You should really not treat it as a project, but rather as a stand-alone business. There could of course be exceptions, if the whole purpose of developing that website is to support another branded website. In that case the website would be treated more like a project.
When you write a business plan, you simply put on paper, or on your screen what you want to achieve and how you plan to go about it.
In essence, the business plan should really provide the reason why yo are developing the website in the first place, and the steps that you will take to ensure that the purpose is fulfilled.
The business plan should outline the structure of your business, the product or service that you plan to sell, give clear indication about who the customer is, and provide details about the growth potential and the financials.
We will look at why you need to write a business plan in a later post. However, what you write in the business plan should end up inspiring you to achieve set goals and objectives.
You should treat the business plan as a blueprint for what you want to achieve and should give you a clear understanding of how you intend on making it happen.
In most cases, the business plan will act as a rough guide or some sort of map. However, you should not treat it as any sort of prediction that is set in stone. There should be enough room for contingencies. External factors will influence the direction and shape o your business, and you have limited or no control over the future. Nonetheless, a good business plan should at least provide some sort of navigational aid.
A good business plan should help you to develop strategies and allow you to work out how to make your business a success. If your business plan is done properly, it should help you to avoid failure by highlighting dangers and pitfalls that you may encounter in the future.
The key thing is that the business plan should be realistic and should reflect what is achievable with the resources that you will have at your disposal.
By writing a business plan and identifying a set of targets, you will be able to monitor your progress and get your business back on track if anything goes wrong.
Stay tuned for more in this series.
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