This week I wanted to give you a taste of my new online training course called The One Day Business Plan.
I have filmed a short and summarised version of the process into two parts and this week, in Part 1, I deal with describing your vision as the starting point of business planning, and then breaking it down into the 6 key identifying characteristics of the description.
You can download the free worksheet for Part 1 here and follow the video.
In the video, and below, I’ll be using a restaurant as an example.
Step 1 is to describe your vision of your business when it is everything you hope for. Make sure you are very clear on what it will look like and how it will behave. Use adjectives (descriptive words) including emotional ties as well as tangible characteristics.
So for example you might describe your vision of your restaurant as “An Italian restaurant serving modern Italian cuisine, located just outside the city, providing attentive service and good food in an atmosphere of modern, discreet dining.”
Step 2 is to review your description and pick out what you mean by some of the adjectives and descriptions – within 6 categories:
- Markets and customers;
- Products and services;
- Processes and operations;
- People and teams;
- Infrastructure and equipment; and
- Finance and profits.
In our example the words “modern Italian cuisine” may set you thinking about what would be in your menu. Hence under “Products and services” you would start to outline what kind of food you would serve. At the same time, in order to get “modern Italian cuisine” you should be starting to think about what kind of chef you will need – probably not an Italian grandmother, but a well-trained younger chef who would experiment with Italian classics to product a “modern” version. This would then lead you to write in the “People and teams” category the need for a modern chef well-trained in Italian cooking but willing to innovate.
What about the customers? Who would be attracted to “modern Italian cuisine”?
And so you can go on.
What does “located just outside the city” mean? Where will it be exactly (under infrastructure and equipment) – in the nightclub district or somewhere suburban? How much are rents likely to cost (Finance and profits)? What will it look like outside, and what about furniture inside (Infrastructure and equipment)?
What about “attentive service”? What training (People and teams) might that mean for your wait-staff? Should you have procedures (Processes and operations) written up and make sure everyone is scripted? Does this mean you are seeking the best and will pay accordingly (Finance and profits) or will you look for younger people and train them up (People and teams; and Processes and operations).
As you can see, once you have really drilled down into what your description of your vision means, you can start to get a real picture of how you want it to work.
This sets us up for Part 2 next week where we start to look at what you need to do to get to those descriptive characteristics.
Also, don’t miss Part 2 next week. Get across to teikoh.com and make sure that you subscribe to the emails where I send out the weekly blog and other resources directly to your inbox. You can have your mind at ease – I hate spam as much as you do and I will never share your details, and, you can unsubscribe at any time.
If you want to deep-dive into The One Day Business Plan – the fully expanded version of this training where I take you through a series of video learning modules accompanied by fully detailed reading material and worksheets to create your business plan in one day, please get over to my website here and click on the Products page to check it out.