Do You Plan to Fail?

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Continued from 3 Things No One Told You About Being Your Own Boss

Do not underestimate the importance of having a brand story, business strategy and plan.

They give you a sense of defined purpose.

They give you a plan to succeed.

A plan you can work with to ensure you are on the right track of achieving what you want from your business.

They do not have to be complicated. In fact they should be simple and easily understood.

Why have a brand story, business strategy and plan when you are the one running your own business?

So that you have a clear idea where you at with your business and how you should progress.

A brand story tells us what’s your business about and why anyone should care about your business.

Most people have a very rigid understanding of a business strategy and business. First, a business strategy is different from a business plan.

What’s a brand story?

The story of you and your business. What is your business all about? What do you aspire to do with your business? What difference does your business make to anybody’s life? And why should anybody care about your business?

It’s not to simply differentiate you from your competitors, but to add a human touch to your business. Your business may matter to you for various reasons, but why should it matter to others enough for them to keep returning to you?

Think about those reasons, besides making money, why did you want to start this business? What’s that big vision?

What’s a business strategy?

A business strategy tells you what the “HOW” of your business. It charts how you should go about achieving your vision. It is an overview of your business, similar to a working blueprint.

What’s a business plan?

A business plan tells you “WHAT” to do with your business. Unlike the long-term nature of a business strategy, a business plan is more immediate. It outlines what needs to be done in the short-term.

A sound business idea

Putting both together, a business plan contains the details of what needs to be done right now in order to work towards your vision (as mapped by your business strategy).

Planning to succeed

While your business strategy also includes how you would go about getting clients and letting others know about you, please do not get too carried away with profits and advertising.

When putting your business strategy and plan together, remember you are nothing without your customers. Put their interests first, care for them, serve them and give them a reason to keep coming back to you. When you make them feel important, they will keep coming back to your for that feeling.

And it’s your job to keep making them feel special.

Plan to succeed.

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