Business lifecycle: baby seed
When you have a great idea for a new business it can be tricky to know what to do first!
My advice is always to start with a basic business plan – this will become your blueprint for growth and will help to keep you on track.
A business plan helps focus your ideas and intentions.
Even if you don’t need funding, a business plan will help you define your goals and stay on track.
A good business plan should include:
- Your basic business concept – what will you offer and to who
- Your strategy and how you intend to implement to fulfil your business goals
- The products and/or services you intend to provide and what makes them unique
- Define who your audience is, it’s size and scope
- How you intend to monetise the business
- Cash flow forecasting and money management
- A brief overview of who is involved in the business, their experience and strengths
- Business ownership structure
- Legal entity structure
- Your financing needs
The size and scope of your plan largely depends on why you are writing it.
If it is simply to set out your intentions and help you stay on track a mini-plan may be all you need, so keep it simple.
If you need a plan to attract funding, make it as detailed as you can.
The more information you include the easier it is for a lender to make the all-important investment decision.
Once you have written your plan, you will be in a better position to make an educated decision whether to progress to the Start-up stage.
If you get past seed, you are well on your way to growing a successful business.
Now is the time to muster all your courage and take the plunge.
Remember – fortune favours the brave!
I love nothing more than to mentor female entrepreneurs at the very start of their journey – it’s where I can have HUGE IMPACT because the systems and strategies I share lead to incredibly solid business foundations. It’s also such a delicate time, and I instil confidence and clarity in all of my clients. If you are ready to take huge action, and want to fast-track your way to a successful business, check out the full details of the mentoring support I provide.
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MEET SALLY ODDYBusiness, Marketing & Mindset Mentor
Sally works with soulpreneurs, pouring over 20 years experience into their hearts, minds and businesses.
Passionate about living life on purpose, Sally is all about honouring and accepting the fullness of self.
In-powering her clients to experience life in beautiful, bold, expansive ways is how they create and attract abundance and success into their lives.
Guiding her clients to dive deeply into their vision and mission, Sally shares her aligned approach to building online businesses that have a deeply positive impact in the world.
Sally is a Yorkshire Lass who grew up in 80's South Africa and is on a mission to inspire you to fulfil your dreams and potential in order to create a more in-powered and happy world.
Find out about how to work with Sally privately in her unique Mentorships or in a supportive group setting in The Prosperous Coach Collective
If you're an established online business owner who knows a few tweaks and focus will get you headed in the right direction...[BUT YOU'VE EITHER NEVER WORKED WITH A BUSINESS MENTOR BEFORE SO ARE UNSURE IF IT'S FOR YOU, OR YOU'VE BEEN BURNED WITH A BAD EXPERIENCE AND WANT TO TEST THE WATERS]
I invite you to book a 30 Minute 'Plan Of Action Session'Here's what happens during a POA Session...
