These are the five elements an effective business plan includes..
If you are a real estate professional, or really any type of business owner or independent contractor, you need to have a business plan. Have you ever created one? Maybe you’ve heard about it but were never sure where to start. I’m here today to help you with this. Here are the five basics every business plan must have:
1. A strategic vision. You need to know the destination you’re headed to with as much clarity as possible. If you’re trying to go from A to B, what things will need to happen in between? Your strategic vision is the first key to having an effective business plan.
2. An activity plan. The activity plan should include what you need to do daily, weekly, and monthly to achieve your overall objective.
3. Your plan for people, systems, and tools. You have to know what tools you’ll be using, who will be involved in the daily activities, and what systems you will use as leverage.
4. Your plan for your sources. What sources will you be leveraging with the people, tools, and activities to achieve your business goals?
5. Your plan for your profit. Once all the previous four points come together, you have to know what’s happening with your money, expenses, and taxes.
“Your strategic vision is the 1st key to having an effective business plan. ”
This is just a quick touch on business planning. If you want to take a deeper dive, I have three options for you: The first option is to visit my website joepeoplesvideos.com. There’s a link for a business assessment which will give you an opportunity to explore all the different facets of your business that need to be approached. You’ll receive a 24-page report when you’re done, and we can schedule a conversation. The second option is clicking this link for our free business assessment. Lastly, you can simply download our fantastic business-planning workbook for free.
As always, if you have more questions about this topic or anything else, call or email me. I’m always happy to help!
