Business Plan, Business Planning and Goal Setting
As I discussed last week in my article Do You Have a Business Plan for Your Blog or Website?, a business plan is a written document that lists a company’s goals, how they will achieve those goals, and the guidelines and standards it will use to measure success and achievements.
This is usually a formal document for traditional brick and mortar businesses to use as a means to gain loans from a bank and serves as a road map of sorts. For bloggers who want to create a business plan it doesn’t need to be formal or traditional. It could resemble goal setting in some ways, but there is a difference. There’s also a difference in business planning and a business plan. Business planning is something you should consider for your online website or blog.
When you set goals, you determine what you want to accomplish by a certain due date. The goals you set need to be read at least once a week to keep you on track. Business planning focuses on the process of how to accomplish those goals instead of the goals themselves. You will want to look over those at least once a week as well, if not daily.
Business planning has two major components; setting goals and watching trends. Like goal setting, the steps and processes you use for business planning should be examined periodically and revised if necessary. Basically business planning is step by step instructions on what you will do to reach the goals you’ve set for yourself or your blog.
A business plan is a packet of documents that cover an executive summary of the business, a company analysis, industry analysis, customer analysis and a competition analysis.
Goals are the milestones you want to accomplish in your business. This could include number of readers you’d like to have and levels of income you’d like to reach.
Business planning breaks down those goals into tangible steps you will take to reach those goals.
With running a blog or website you don’t necessarily need a business plan, but you do need clear cut goals and a good plan for reaching those goals. Fifty to seventy five percent of new businesses fail within the first year because they lack a business plan, solid goals and a method for reaching those goals. Don’t let your blog be one of those statistics. Taking steps now, even if you already have a blog up and running, to get these important business aspects in place and utilizing them will help ensure your long term success.
Written by Patti Stafford from Patti StaffordPosted on May 14th, 2010 and filed under Blogging
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10 Responses to “Business Plan, Business Planning and Goal Setting”
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[...] Business Plan, Business Planning and Goal Setting As I discussed last week in my article Do You Have a Business Plan for Your Blog or Website?, a … http://www.bloggingtips.com/…/business-plan-business-planning-an…; Saturday, May 15th, 2010 Uncategorized Blogroll [...]
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[...] Planning to run your blog like a small business? Approaching your blogging not simply as a marketing tool but rather as a business requires a much different approach. And it requires a business plan. No, the plan doesn’t need to be elaborate. But deciding how much readership you would like to have and how much revenue you would like to bring in are good places to start. BloggingTips [...]
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[...] Planning to run your blog like a small business? Approaching your blogging not simply as a marketing tool but rather as a business requires a much different approach. And it requires a business plan. No, the plan doesn’t need to be elaborate. But deciding how much readership you would like to have and how much revenue you would like to bring in are good places to start. BloggingTips [...]
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[...] Planning to run your blog like a small business? Approaching your blogging not simply as a marketing tool but rather as a business requires a much different approach. And it requires a business plan. No, the plan doesn’t need to be elaborate. But deciding how much readership you would like to have and how much revenue you would like to bring in are good places to start. BloggingTips [...]
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[...] Book Deals and Pictures of massive Checks…. making money online is sexy! -by problogger.netBusiness plan, business planning and goal settingAs I discussed last week, a business plan is a written document that lists a company’s goals, how [...]
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Thanks Patti for the plug for business plans. A good one for Internet Marketers is the One Page Business Plan for Creative Entreprenurs or the one for Consultants.
For most of us online, having a plan is very helpful when we can use it daily.
Hi guys,
I agree a business plan will help you be successful in running your online business. But I feel that many of us don’t really think that we need one unless we are trying to get a loan from the Bank. I will take your advice and use it for my advantage. Thanks for sharing.
Kind regards,
Sam
X
I agree business plan is the first step of business. If you have a good business plans so you will achieve success.
Thank you for this article. I have been struggling with finding a clear focus for my blog, but with these simple tips I think I have a plan for the future of my blog and business from it. Thanks again!
Having a written business goal makes you separates from the rest of the package.