Many coaches we speak to report that for the first couple of years, they struggle to get their business going. This isn’t a phenomenon unique to coaching. Many entrepreneurs or solopreneurs face this. A business game plan can fix this.
Why You Need A Business Game Plan
As the wise saying goes: Failing to plan is planning to fail. This statement has proven itself time and time again.
"Failing to plan is planning to fail." (unknown) Click To TweetTrue, you have to be agile to navigate the circumstances you’ll encounter, but a plan helps you to stay focused on what matters.
Circumstances, obstacles, and distractions are as sure as death and taxes. You’ll encounter them regularly and most of the time when you least expect them.
A business plan will help you to decide ahead of time how you will respond (not react) in the moment this happens.
As a business owner, you call the shots, not your circumstances (or worst, your email inbox).
So to stay afloat and to get away from reactionary behavior, we plan ahead by setting our priorities. Priorities determine where our attention should go – ahead of time.
In summary: You need a business game plan to achieve your goals.
What is a Business Game Plan
This leads us to the next point: What are your priorities? What goals do you have for your business?
"There is no favorable wind for the sailor who doesn't know where he's going." (unknown) Click To TweetA classic business plan is a monster many fear. Most entrepreneurs dread the exercise of a business plan because the original format of a business plan is resembling more bureaucracy than business.
A comprehensive business plan can read like a book. While it serves a purpose, it’s not recommended (see the video below).
Classic business plans are good if you seek funding and need to provide this information. It can also be helpful if you work with a partner to document your plan and refer back to it regularly as you review where you’re headed.
For a starting coach entrepreneur, there’s a better, more hands-on approach.
Create a Business Game Plan
Who pulls up a lengthy text document to plan their actions for the week? You don’t. No one does. It’s not natural. It’s not even practical.
A simple whiteboard is something most entrepreneurs add to their walls. There’s a reason for that: you can quickly see information, ideas, and concepts.
We will put this to use in our business game plan.
Instead of a wordy, lengthy, and complex document, we will create a short, simple, visual, and highly practical whiteboard containing your business game plan.
This way, we keep you focused on your priorities (goals).
Components of a Business Game Plan
To get started, you need these components:
- Stages or phases. Think of these as groups of activities that help you reach a milestone. If you were to build a house, one of those phases could be labeled “foundation” and all contributing initiatives go into this phase.
- Time frame. What length of plan are you building? One year out? Do you plan three years ahead? How long do you plan each phase to be?
- Milestones. These are achievements that matter, e.g., contributors that help you complete each stage (a person, an event, a specific outcome). Each of these milestones needs to be measurable and realistic.
Markup Your Business Game Plan
Once you have all the phases defined and have added measurable milestones and time frames, you begin to look at monetizers.
You’re in business after all! Businesses need to earn income.
So, next, you’ll markup items that can be monetized faster than other items on your list. These are items you will begin with.
When the time comes for your customers to ask how they can buy your services, you need to be ready. So, prioritize that over things they don’t pay for (like your massive following on Instagram).
Use Your Business Game Plan to Achieve EVERY WEEK
Yep, you can score some achievements every week if you put this plan to use.
Hang the plan up in a visible place you cannot miss, like your office. Look at it every week – or even every day.
When you make your action plan for the month, week, and next day, look at your business game plan first.
Ask yourself which to-dos will contribute to achieving these milestones. Mercilessly cut busy work that doesn’t make a contribution to your goals.
One last note: take the freedom to adjust your plan if you learn something new about your business or market that requires adjusting your strategy. Careful – this does not mean changing with the turn of the wind. But if you realize that some goals have been underestimated or unrealistic, revise them.
Watch the Replay of “Creating a Visual Business Game Plan”
If you’d like to see the live event replay explaining how to put this visual business game plan together, you can watch the replay below. We thank Delenta, the coaching software provider, for sharing this with our coaches.