How do you decide whether to use Twitter, Facebook, LinkedIn, Instagram or something else?
The usual advice is to go where your ideal customers are.
How do you know where your ideal customers hang out?
It’ll be in your social media plan.
How do you know who your ideal customer is?
It’ll be in your marketing plan.
How do you know what results to expect and how to measure them?
It’ll be in your marketing strategy.
How do you know how much to budget for marketing, how to price your products or services, what it costs to get a new customer, what the lifetime value of a customer is, how much cash you need until your business goes into profit, what happens if you get lots of sales or no sales?
It’ll be in your business plan.
If you don’t know what you want to achieve, how do you know where to start?
Don’t dive in without a plan!
It could cost you your business.
The benefit of a business plan
A business owner I was talking to was on the point of giving up because whatever he tried, it seemed he couldn’t make a profit.
A quick look at the numbers showed that by making ONE extra sale a month he could repay his business loans in two years instead of four.
The plan to make one extra sale a month was easy to make, easy to stick to and so far, is working!
If you need help making a very simple business plan that gives you direction, let me know!