| Sometimes the thought of sitting down to draft a | | | | there is substance and staying power in the mission. |
| business plan sends me running for the hills, even | | | | 3. The Objectives – What results will you measure? |
| though I preach the importance of planning to all of my | | | | Objectives clarify what you are trying to accomplish in |
| clients! Small business advice: Without planning, your | | | | specific, measurable goals. Some of the best small |
| bookkeeping business goes nowhere fast. When you | | | | business advice that I can give you is this: for an |
| fail to plan, you plan to fail. | | | | objective to be effective, it needs to be a well-defined |
| What I have come to learn as a business coach is | | | | target with quantifiable, measurable elements. There |
| that business plans don’t have to be long to be | | | | are many types of objectives, and your plan should |
| good. In fact, a single page can contain all the essential | | | | include a variety of them. For many businesses the |
| elements you need to show where you’re taking | | | | two most important categories will be the financial and |
| your bookkeeping business and how you’re going | | | | marketing objectives. It is important, however, to tailor |
| to get there. The most important reason to have a | | | | your objectives to cover the full scope of your |
| business plan is to clarify your thinking about where | | | | bookkeeping business, focusing on the goals that are |
| you are taking your business. When it’s in writing, | | | | most critical to your success. |
| others will know and understand your vision and your | | | | 4. The Strategies – How will you grow your |
| plan. | | | | business? |
| Here are a few characteristics of an effective | | | | Strategies set the direction, philosophy, values, and |
| one-page business plan for your bookkeeping business: | | | | methodology for building and managing your company. |
| • Simplicity. A one-page plan takes a complex | | | | Strategies also establish guidelines for evaluating |
| subject and makes it simple. | | | | important business decisions. In most industries there |
| • Focus. It focuses on what’s important. There is | | | | are four to six core strategies that successful |
| no room for fluff or filler. | | | | businesses follow. These core strategies are easy to |
| • Versatility. It is a communication tool for | | | | understand, remain relatively constant over time, are |
| employees, prospective employees, partners, | | | | used by market leaders and result in profitable growth. |
| shareholders, investors and bankers. | | | | Here are two examples of a core strategy: “Price |
| • Consistency. It sends the same message to | | | | isn’t everything,” and “Attract the very best |
| every person who receives it, unlike a verbal | | | | employees and give them a stake in the business.” |
| presentation, which may change every time you | | | | What are your strategies? |
| speak. | | | | 5. The Plans – What is the work to be done? |
| • Flexibility. It is easy to change and update. | | | | Plans are the specific actions the business must |
| The Five Elements of the One-Page Business Plan: | | | | implement to achieve the objectives. Plan or action |
| 1. The Vision Statement – What are you building? | | | | items should contribute to the growth of your |
| This is the place where you describe your vision | | | | bookkeeping business. Each plan or action item is, in |
| —your way. Most business coaches will tell you that | | | | effect, a project. Plans should be action-oriented, list |
| vision statements should be expansive and idealistic. | | | | specific tasks and have definitive deadlines or due |
| They should stimulate thinking and communicate | | | | dates. |
| passion, while painting a detailed picture of the | | | | Once your plan is in writing, it is now time to put that |
| bookkeeping business you want. The key to capturing | | | | same plan into action. Putting the plan into action is the |
| your vision is to refrain from restricting the flow of | | | | most important step because the actions deliver the |
| thoughts. | | | | results you wanted when you started this process. For |
| 2. The Mission Statement – Why does this business | | | | most entrepreneurs, this is easy — you are already |
| exist? | | | | action-oriented! |
| The mission statement describes the purpose for | | | | Here is some business advice, as well as a few |
| which your product, service or business exists. Great | | | | suggestions, to help you put (and keep) your |
| mission statements are short and memorable. They | | | | bookkeeping business plan in action: |
| communicate in just a few words the company’s | | | | • Keep the plan with you. |
| focus and what is being provided to customers. They | | | | • Use it as a decision-making tool. |
| answer the question, “Why will customers buy this | | | | • Update it with new thoughts. |
| product or service?” The mission statement should | | | | • Share it with people you trust and whose opinions |
| also reflect the owner’s passion and commitment. | | | | you value. |
| When the business satisfies an owner’s passion | | | | • Measure your progress at least quarterly. |
| for creativity, independence or the need to serve, | | | | • Prepare a budget to match the plan. |