Writing a business plan is a tedious task. It is time-consuming, requires efforts on your part, and, of course, some brain work. If you’re not looking for investors or financing for your network marketing business, your business plan doesn’t have to be very detailed. One page should be enough for you to lay out your business plan. This post is the actual one-page business plan template I used for my network marketing business. Feel free to use it to plan your own network marketing business.
1. Business Vision
When you think of what your business vision could be, think of it from a creator’s perspective. What do you want to accomplish by starting your own network marketing business? What is the ultimate goal that you will be pursuing as of day one? Why do you want your business to exist? Paint a big picture of what your business will be like under your definition of success when you achieve it. Your network marketing business can be as big as a couple of your local teams or it can be a global network of tens or hundreds of teams. It’s up to you.
2. Business Mission
The next step is to determine your business mission. Do it by keeping your prospect customer in mind. Write down how you are going to meet your customers’ wants and needs and provide solutions for their problems. Avoid trying to be everything for everyone. In your business mission statement, tell whom you’re going to service, how you’re going to do it, and how what you do is going to benefit your customer. Remember, your business mission is going to be your daily routine that should eventually lead you toward reaching your ultimate goal – your business vision.
They are the milestones on your path towards reaching your business vision. Make your business goals S.M.A.R.T. That is, make sure to state your goals as specific as possible. They must be measurable. They must be achievable, realistic, and timely. For instance, “I will build my organization as big as 100 members in six months.” Make a list of five S.M.A.R.T. goals for your network marketing business and, next, work on your business strategies – the “How” of achieving your goals.
4. Business Strategies
Now, since you know the “What” of your business, it’s time to outline the “How”. Business strategies are the steps you will take to achieve your S.M.A.R.T. goals. If you stated that you’re going to build an organization of 100 members in six months, state the ideas of how you’re going to reach out to a larger audience from which 100 members would eventually join your organization.
Since you are your own business, consider yourself the first resource for your business. List a set of skills you can contribute to your business. Your education matters as well. List the skills you would like to learn. How about your family members with their knowledge and skills? Can you use their brains to build your business? Don’t exclude your friends. List possible places you can run your business at. If your network marketing business is strictly Internet-based, you can really run it from anywhere in the world where Internet connection is available. Calculate the cost of your resources, which may be your expenses as well. Everything in life has a price tag. So, determine the cost of running your network marketing business.
It’s hard to predict how much money you will make in your business. But aren’t you going to start your own network marketing business to make money in the first place? Yes. So, how much do you want to make realistically? How much can you make with all the resources available? How much money will your business need to be self-sustaining? What can you do to increase your income? Do you have a product that you’ll be able to make money on, besides your network marketing company’s products? How about affiliate marketing? List all the potential income streams you can think of. Some network marketing newbies are so loyal to their network marketing company that they consider it sin to sell other people’s products or services. Don’t make that mistake. Your business has to generate income. So, keep all the income-generating ideas on the table.
And finally, the last step in the evolution of your business you should think of during the planning phase is the exit strategy. How will you finish well, once your business vision is achieved? Will you sell your business? Will you heir it to your kids or other family members? What will you do with your teams if your network marketing company becomes insolvent or goes out of business for some reason? Think about the exit strategy just like you plan to take an exit when driving on a freeway to a destination. You don’t stay on that freeway forever. So, think of and write down the exit strategy for your business.
Don’t underestimate the importance of business planning. Use the above template to lay out your one-page business plan and start working on achieving your goals today.