From the course: Finance Foundations for Solopreneurs
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Preparing a business plan
From the course: Finance Foundations for Solopreneurs
Preparing a business plan
- You've probably heard about the importance of a business plan. While I agree in concept, my concern comes that for most solopreneurs, the standard business plan doesn't really work. Allow me to explain. You will find very structured business plan templates to focus on process, methodology, and systems. You don't need this, so don't waste your time. A robust business plan for a solopreneur should include five components: a marketing plan, alliance building, crisis planning, key document storage, and what almost everyone forgets, an exit plan. First off, you need a marketing plan. This is your strategy on how to acquire business. Create a mailing list of your target market, set campaigns to reach them regularly, and set follow-ups to avoid letting anyone slip away. This should all result in a good customer relationship management or CRM program. Here's the deal. Nothing else will matter if you don't get customers. This should be focus number one. Next in your business plan is laying…
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