Creating the Foundation For Success: The Benefits of Developing an Effective Business Plan

Hi, thank you for visiting my blog!

I wanted to take some time to set you up for success by walking you through the process of writing a great business plan. I‘m excited to share with you my tips and advice to get you on the right track to reach your goals. With a well-laid-out plan, the sky is the limit for your success!

Let‘s get started!

Creating a business plan is one of the most critical steps in launching a successful business.

It provides a comprehensive roadmap outlining the steps necessary to achieve your goals. You can better track your progress and adjust accordingly with a well-written and detailed business plan.

Writing a business plan can feel intimidating, but it doesn’t have to be!

Your business plan can be as complex or as simple as you want – if you’re just getting started, it’s best to keep it straightforward.


Step 1: A little bit about you…

 

 

 

 

Defining your brand, who you are, your values, and your mission is the first step to creating your business plan.

Here are a few questions you can ask to get started: What does your brand look like, your image? What do you want to be known for? What can you share with others of value? What are your goals and objectives?

Step 2:  Choose the products you will promote

 

 

 

 

A common mistake many affiliates make is not knowing the product they are promoting or offering products that don’t provide value.

Here are some questions to help you decide what to offer:

What offer would highlight your brand? How will it benefit the customer? Does it solve a problem, and if so, what? Which products have good payouts? What type of product sells well?
You must know and believe in the product and sell things that align with your brand. 

Once you solidify your brand image (
HERE is a FREE resource to create your logo), you can determine which product to sell. 

It is essential only to offer things of value as our goal is building relationships.  We are not sketchy salesmen trying to sell crap. We must be authentic, and truthful and always offer value to our customers.

To accomplish this, you need to
know your customer.

Step 3: Customer & Market Research

Doing some research will help you understand your customers’ needs, desires, and preferences. With this knowledge, you will be better equipped to tailor your approach and have a greater chance of achieving success.


Here are some questions to ask when creating your business plan: What is the size of the market? What do my potential customers look like ( age, location, demographics…)? What pages do they like? What are they reading?

Don’t get scared by this…. we all like to look things up on Google and Facebook.

Now it’s time to look at our competitors. What do you like that they are doing? What do they do well? What catches your eye and makes you stop scrolling?  What can you offer that they are not? What are the current trends affecting your industry? 

Step 4: Get a clear picture of your finances

Next, you’ll want to develop your financial plan. This consists of budgeting, calculating projected sales and costs, and creating a forecast of when the business will turn a profit. It is important to be realistic when it comes to earnings and expenses. Get help here if needed; consult with a tax advisor and someone familiar with the pros and cons of different business structures. 

As my mentor Dean Holland always says, this business takes time and patience: “ It is not about getting rich quick; it is about getting rich forever!”

Step 5: Marketing Plan


Finally, you will want to create an effective marketing plan based on your budget and objectives. This includes developing campaigns to target customers, creating a blueprint for marketing, and establishing how you will measure and evaluate the effectiveness of strategies and determine what needs to be adjusted over time (tracking sheet).  


In Dean’s revolutionary book, The Iceberg Effect, he outlines the four essential pillars of affiliate marketing. By narrowing it down into only four focus areas, creating a plan of action became a lot simpler.

With a focused approach to each of these core areas, creating a clear pathway to success in affiliate marketing is possible!


1. Traffic – For traffic, will you be doing paid ads, organic “free” traffic ( which is technically not free as it costs time), or a combination?

Questions to ask yourself to help formulate your plan of action: What is your budget for paid advertising? How much time do you have to invest in advertising? Your time and money situation will be the biggest factor in determining which type of advertising makes sense for you to start with. If you have more time right now, then $$$ organic traffic is the way to go.

If you have the budget for paid advertising, starting in a familiar place is recommended. Which platforms do you use and are comfortable with?

It has been recommended to me that when starting out, master one before moving on to the next.  So, focus entirely on one platform until you have identified a successful ad that meets your desired KPIs before expanding your reach to other options.

2. Capture/Conversion – This is core area number two that Dean goes into in detail in his book The Iceberg Effect.

Questions to ask yourself: Will you use a lead magnet? If so, which one?  What autoresponder will you use?  Will you build a funnel, website, or landing page?

3. Follow-up – As you are building your list, it is important to set up a way to follow-up and keep your customers or leads engaged. Establishing “know, like, and trust” is key not only to getting your emails opened but also to getting your leads to turn into customers and repetitive customers. So, how do you keep people engaged? What additional value can you offer? 

 

4. Sales System – How will you make additional offers to your customers? Upselling? Cross-selling? Discounts? Creating customized offers that reflect the customer’s past behavior and preferences?

The investment in acquiring leads is substantial, but it’s the back-end that really reaps the rewards. Infrastructure should be developed to offer multiple sales options to potential customers; the product quality should be outstanding and offer unique benefits that effectively address the customers’ wants and help them in achieving their desired objectives.

It’s time to take the plunge!

Now that you’ve thought through these questions, it’s time to bring your business plan together.  Take the time to address each section.

Are you ready to take on the obstacles that come with being an online entrepreneur? Seize this opportunity to guarantee success and create your business plan now!

Once you’re done, comment below “DONE!” and let’s celebrate!

And…don’t forget to SHARE this content with others on social media.

To Our Success!!!!


Best,
Alison Blaire

 

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ALISON BLAIRE

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