How To Create Your 2023 Small Business Plan With Ease
Are you thinking about your goals for 2023? Do you have a strategic plan for your business? Or you know that business planning is important, but you’re not quite sure where to start, how to start, or what to include?
It doesn’t matter; you’re on the right track. Every business needs an annual strategic business plan.
Creating your plan doesn’t have to be difficult. Just follow these steps, and you are on your way to creating a plan that will help you crush your business goals.
- End of year review
Before you move forward, it’s helpful to spend some time looking back at the past year. Recognizing your successes will encourage you to keep doing what’s working. And reflecting on the areas that didn’t go so well will give you insight into opportunities for improvement or things to drop.
- Focus on the big picture
When you create a strategic plan, remember the reasons you started your business in the first place. That should be your area of focus. Who do you serve? What products or services do you provide? What are you adding to what you already provide? What is your mission?
These are the main reasons you are in business, and they should always be in your mind when you are making decisions. When you see the big picture, you will not get caught up in the day-to-day details of running your small business.
When you create a strategic plan, remember the reasons you started your business. That should be your focus.
- Concentrate on your main goals
In planning your business for the next year, you need to focus on your main goals. Do you have an idea of how much money you want to make during the year? Do you want to create multiple products or have several physical locations? Is there a lifestyle goal that you want your business to support?
Everyone’s main goals will be different, but you should be sure to include yours as part of your strategic plan. Keep it simple, very top-notch, and on target.
I like to create a goal card with my very top goals. By putting your annual goals on a small goal card, you can’t go into too much detail, which will keep you focused on what really matters.
- Map out your year
Once you have your very top goals, it’s time to map out a very top-down and on-point plan.
Think of your business plan as a pyramid. Your mission statement is at the base of the pyramid, while your big goal is at the peak. Everything in between is a step you need to take that will get you to the top of the pyramid. These steps are your plan.
It’s helpful at this point to start with your desired end result and work backward. If you know where you want to go, it’s easier to determine the path that will get you there. Your annual financial target is a good end result to work backward from.
What products do you want to create, and when? What new products do you want to launch, and when and how? How many clients will you book each month? How can you add some passive income or affiliate income to your business? What will you do to increase your exposure and expand your reach?
Don’t get stuck here. You don’t need to plan a whole year’s worth of action steps at once.
A better idea is to plan your year at the top first, staying focused on the main picture. You’ll go into more detail in the next step.
- Create your 90-day business plan.
I’m beginning to be a huge fan of the 90-day business plans. I just tried it out, and it was amazing.
90 days is short enough that you don’t lose focus but long enough that you can make significant progress toward your goals.
This is where you break your plan down into smaller, actionable steps that can be completed in the next three months.
Don’t say, “I want to write a book.” Instead, break the process down into smaller increments. How much time will you dedicate daily or weekly to your writing? Do you want to find a publisher, or are you self-publishing? You’ll need to find an editor and hire someone to design the cover and layout. These are specific, actionable steps that you can cross off your list once they are completed.
These action steps form the basis for your 90-day plan. Consecutive 90-day plans will create a pathway to the top of the pyramid—your main goal.
- Determine your success measures
Decide how you will measure success, and then set up a system for tracking your progress. Think about what makes sense for your business, then pick a few metrics that you want to track on a monthly or weekly basis.
Need some ideas for metrics to track? Depending on where you are in your business, you might choose to focus on:
Page/website traffic
subscribers
number of sales
conversion rate
profit
revenue per customer
etc.
But also look beyond metrics to actions, which you can control. Pick a few action steps that you need to perform on a consistent basis and set up a tracking system to measure your success.
Your success measures will be concrete milestones that show that you are on track and progressing as you had planned.
- Put your strategic business plan into action. There is no point in having a plan if you don’t execute it.
Set up a system for performing weekly and daily action steps. The best way to do this is to commit to your system, whether it is a calendar, project management app, or paper planner. I love the paper planners because they are right there in my face.
Assign tasks to yourself or your team, and really stick to your deadlines.
Cheat-Tip
If using the word “deadline” upsets you or makes you tense, call them “landmarks” instead.
Instead of chasing glittery objects each passing day, you’ll develop a mindset of discipline and accountability to follow through on your strategic plan.
With that, you get to the top of the pyramid!
Does this sound overwhelming? Don’t worry. I can help.
Grab your free business planning workbook below, and you’ll be on your way to a solid strategic business plan in no time.
Author: UGOCHI
Women empowerment, encouragement, motivation and mentoring. We take bold steps each and everyday to become better.