Most people wait till the beginning of the year to do a business plan. I completely disagree with this approach. You should be working through the process now so you are ready to hit the ground running when January 1st hits. Here are 6 things that should be a priority in this year’s plan.
Know your niche: Who is your audience or perfect client? If you have not sat down and thought about who/what your niche is than you need too. The success of your business could depend on it. Within this niche, do you know what products will best fit them? This is imperative because now is the time to start studying the products that you want to gain expertise on to become a better well- versed business owner for the upcoming year.
Prospecting: This is almost a sub-business plan on its own. Are you doing educational workshops, community events, lead lists, direct response mailers or all of the above? You need to consider your budget because that could play a huge part in this. If you don’t know what to do then think about who you can you go to for some expert advice or to find out more?
Sales: How many sales do you want to make next year? What is your average premium per sale? Once you know this it needs to be broken down by how many people you need to see, how many presentations you need to do and what your closing rate is. From there, break it down even further into what you need to do per month, week and even daily to reach your sales goal.
Money: This goes right along with the sales section. Usually I have the business owners I am coaching tell me what they want to make for the year then we reverse engineer the game plan to know exactly what they need to do daily. If your income is 100% based off of your production you need to take this seriously and measure it every single week and review it on at least a quarterly basis.
Competition: What is your competition doing to be successful? I mention that you need to pay attention but not dwell on this because your business plan needs to be so good that you dominate your market not compete. But you need to pay enough attention to not got blindsided by enormous growth or other things that could hurt your practice.
Execution: Who, what, and how can you accomplish this plan? How can you insure your year’s success? What things should you better start implementing now to make sure that if nothing else you accomplish the minimum plan you have put in place.
If you need help with any of these areas don’t hesitate to call and talk to one of our teams experts to make sure 2016 is your best year ever!