Field Guide to Writing a Business Plan for the New Year

The start of a New Year is a perfect time to work on a business plan and to define the kind of success that you would like to achieve in 2015. Here are six steps which will assist you in creating, implementing and succeeding in the New Year:

1. Define your Mission & Vision: These statements establish the foundation of your business. You should include a company description as part of the mission and vision statement. Explain what your business aims to do, offer or provide, and the method by which you plan to make good on your goals.
2. SWOT Analysis: SWOT stands for “Strengths, Weaknesses, Opportunities, and Threats.” You will need to do this for your business and your competitors. Click here to fill out your own SWOT Analysis form.
3. Setting Goals: Turn your mission and vision statement into tangible goals. This can be by growth, income, closings, etc.
4. Marketing Plan: The Marketing plan consists of product, price, place and promotion.
5. Forming a Team: Capture the cooperation of your colleagues, supervisors, and supervisees that are involved in your plan.
6. Implementation & Follow-up: Many times implementation and follow up are overlooked but they are vital to the success of your business plan. Start out by breaking down your annual goals into semi-annually, quarterly or even monthly benchmarks. Make sure you are on track and determine if your goals are achievable. Also, how will you measure your success?

*Courtesy of Realtor.org

 

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