Speaker 1: Helping leaders motivate their people to a higher level of
Speaker 1: performance through strong human relations, team building, and golajving. This
Speaker 1: is the seven Minute Leadership Podcast with your host Paul
Speaker 1: fella Aledo.
Speaker 2: Hello everyone, and welcome to the seven Minute Leadership Podcast.
Speaker 2: It's episode four eighteen. Today we're talking about something every entrepreneur,
Speaker 2: side hustler and startup founder will eventually face, writing a
Speaker 2: business plan. Now, before you tune out thinking I don't
Speaker 2: need a thirty page plan to get started, let me
Speaker 2: stop you. I'm not talking about some corporate bound document
Speaker 2: filled with fifty pages of crap. I'm talking about a
Speaker 2: real plan, one that's sharp, tactical, and written so that anyone,
Speaker 2: even if it's just you and a dream, can take
Speaker 2: action on. Here's the truth. Most people skip this step
Speaker 2: because it feels intimidating. But let me put it this way.
Speaker 2: If your idea is worth doing, it's worth planning. The
Speaker 2: business plan isn't a hoop to jump through. It's your
Speaker 2: game plan for survival and your blueprint for growth. So
Speaker 2: let's get into it. I'm going to break this into
Speaker 2: seven quick sections, each one critical and easy to understand.
Speaker 2: Grab a notebook or pause, and come back later if
Speaker 2: you're in the middle of something, but don't skip this step.
Speaker 2: Part one is the problem. Start with this What problem
Speaker 2: are you solving? Be honest, be specific. Great businesses solve
Speaker 2: real pain points. The example I'd give is scheduling for
Speaker 2: home healthcare workers is inefficient and wastes twenty percent of
Speaker 2: their time. That's a real problem. If your business doesn't
Speaker 2: solve it, it's then just a hobby. Part two the So,
Speaker 2: this is your product or service. What are you offering
Speaker 2: and how does it solve the problem better, faster or cheaper?
Speaker 2: And don't get cute here. Don't write we are redefining
Speaker 2: the digital experience right Our app cuts scheduling time in
Speaker 2: half with AI driven smart calendars. Get clear on what
Speaker 2: you're offering, because if you're not clear, your customers won't
Speaker 2: be either. Part three target market. Who are you selling to?
Speaker 2: And don't say everyone. Your product might help everyone, but
Speaker 2: your first customers won't be. Define your beachhead market. Are
Speaker 2: they college students, busy parents, small business owners with less
Speaker 2: than ten employees. Nail it down. Your marketing, pricing, and
Speaker 2: messaging all depend on this section. Part four is your
Speaker 2: competitive edge. What makes your idea different? Or better. This
Speaker 2: is where you explain why you're not just another coffee shop,
Speaker 2: another podcast, or another T shirt brand. Maybe it's your price,
Speaker 2: maybe it's your brand voice, Maybe it's your delivery speed,
Speaker 2: maybe it's your background. The point is you need an
Speaker 2: edge and you need to put it on paper. Number
Speaker 2: five is revenue model. How are you going to make money?
Speaker 2: Be simple and specific if it's subscription, a one time
Speaker 2: product sale, a licensing fee. Will you sell directly to
Speaker 2: customers or through partners? And don't forget to answer this,
Speaker 2: what will you charge and why? If you're scared to
Speaker 2: talk about money, you're not ready to be in business.
Speaker 2: Part six is marketing and sales strategy. How will people
Speaker 2: hear about you and what will make them buy? List
Speaker 2: your plan? Will you use social media ads, partner with influencers,
Speaker 2: attend local events, cold email, SEO or word of mouth?
Speaker 2: Also include your sales funnel. What happens from the first
Speaker 2: click to the final sale. Don't just wing this. You
Speaker 2: don't get customers by accident. And Part seven is financial
Speaker 2: forecast and milestones. You don't need a CPA to do
Speaker 2: this part just be realistic. What will it cost to start?
Speaker 2: What are your monthly expenses, what's your break even point,
Speaker 2: how much do you need to make in year one?
Speaker 2: And what are your key milestones for the next twelve months?
Speaker 2: And here's the leadership mindset. A business plan is not
Speaker 2: about predicting the future. It's about showing you have a
Speaker 2: plan if things go wrong, and that you know what
Speaker 2: success looks like when it finally shows up. So keep
Speaker 2: it simple. One page is better than nothing, A few
Speaker 2: pages is fine. A fifteen page investor ready document comes
Speaker 2: later if needed right now, just start use bullet points,
Speaker 2: use sticky notes, use voice memos. I don't care how
Speaker 2: it gets done. Just get it out of your head
Speaker 2: head and into a plan. So, if you're serious about
Speaker 2: building something that lasts, this is the seven minute mindset shift.
Speaker 2: You can either hope your idea works or you can
Speaker 2: plan for it to succeed. Writing a business plan is
Speaker 2: not about checking a box. It's about stepping into leadership
Speaker 2: and owning your idea like it's already real. And that's
Speaker 2: how you go from dreamer to doer. This has been
Speaker 2: the seven minute Leadership podcast, and I thank you for listening.
Speaker 1: For more, Paul fell of Alito Podcasts, visit paulfellowalito dot
Speaker 1: com