The "Hustler Business Plan" 101
Create a successful business plan for your Business (DIY)
By FAVIOLA VALENCIA "THE CEO HUSTLER"
Why is a Business Plan important?
Imagine starting your business with “high-profit margins, low overhead, and no physical products, a business you could run from the comfort of your own home or from wherever” all while bringing in six figures, with a platform you probably already use – wouldn’t that be great?!
Well, before you can do that you need to create a business plan just as with any other business, you need to have a plan in place for your business, regardless of the type of business.
So, before you even begin to think about making any type of income from your services, or products, you need to start treating your “business” as a business.
Yes, many “businesses” start a business, but they don’t treat it like a business…In other words, they are just providing the service, collecting the money “commingling funds and their business”, which is a NO!, NO!
Little Story: I started my business in 2000 but unlike many businesses I had business experience both Small and Corporate experience and therefore I knew early on what I needed to have in place and what I needed for my business in order to protect it and protect myself.
However NOTHING is “BULLETPROOF” and even with all these measures things still happen, but if you prepare yourself you are able to handle things a lot better than NOT being prepared, right?!
“A business without a plan is doomed to fail, According to U.S. Small Business Administration, a business plan precisely defines your business, identifies your goals and serves as your firm’s resume.”
The biggest mistake that I’ve come across when it comes to business is that many exist without a business plan.
But, unfortunately, many fail or put their business at RISK because they don’t have what they need for their business.
A companies business plan is the foundation of a business, without it, a company is inevitably “doomed to fail – bottom line your putting your business at RISK!”
Example: When you have a plan you actually start thinking about your earnings, but also the best way on how to allocate your resources—time and plan more importantly plan on your business growth and where you want to be or go.
Unfortunately, not every savvy entrepreneur creates a plan before they launch a new venture…All entrepreneurs, freelancers, solopreneurs, start-ups, etc should (must) create a business plan.
Regardless of how long you’ve been in business (even if you are a newbie), walk with me through the following steps and let’s create a strategy (we’ll call it our “Hustler business plan”) and fast track your path to profitability.
A business plan doesn’t have to be complex or 20+pages long especially if you are just starting out, it can be a Basic plan with basic components; balance sheet, an income statement, and a cash flow analysis.
It will help you allocate resources properly, handle unforeseen complications, and make the right decisions for you and your business.
This information is crucial for your business because it provides specific and organized information about your company and how you will repay any borrowed money. And more importantly, having a good business plan will help your overall success for you and your business.
A business plan will also help you if you are thinking of adding on a sales team, VA’s, vendors, suppliers, or operations team, but it will help you define and focus on your goals.
Remember your business is your “Baby” and having a plan on how to care for your “Baby” is going to be so important and crucial for the overall growth of your “Baby”, right? You have to teach your baby how to “Crawl before they Walk, and before they Run”…
So, now that we got the “411” out of the way, let me tell you that everything that I share with you is based on “Real Life” experiences, knowledge, trial/error, research and development and I share with you ONLY things that I’ve invested in and proven methods.
Having said that, you can choose to spend the Time & Money in doing your research, or contracting another “Coach” to create the plan for your business, or you can invest in my DIY that includes a Step-by-Step process and plan that I’ve used for my business.
I spent over $5k on this plan, but I share it with you because I know how expensive starting and growing a business can be and I wish I had this same benefit back when I started my business, but I didn’t!
Did you know that A business plan varies quite a bit and Consultants can charge around $3,000 to $15,000 for a complete business plan? For larger corporate projects, expect to see costs ranging from $25,000 to $50,000 – YES!!!
And these plans usually don’t include your Sales & Marketing, Strategic Planning, HR, Operations, etc…these are all sold separately but are so IMPORTANT if you want to run a successful business!
Let me tell you that I spent over $30k just on plans, handbooks, manuals, etc but they played a key role in my growth and success with my business, more importantly, they helped me get the 6-figure contracts and expansion.
Get the Basic Business Plan
Don’t put your Business At Risk. Start & Grow on the right track!