Helping leaders motivate their people to a higher level of performance through strong human relations, team building, and golajving. This is the seven Minute Leadership Podcast with your host Paul fella Aledo.
Hello everyone, and welcome to the seven Minute Leadership Podcast. It's episode four eighteen. Today we're talking about something every entrepreneur, side hustler and startup founder will eventually face, writing a business plan. Now, before you tune out thinking I don't need a thirty page plan to get started, let me stop you. I'm not talking about some corporate bound document
filled with fifty pages of crap. I'm talking about a real plan, one that's sharp, tactical, and written so that anyone, even if it's just you and a dream, can take action on. Here's the truth. Most people skip this step because it feels intimidating. But let me put it this way. If your idea is worth doing, it's worth planning. The business plan isn't a hoop to jump through. It's your game plan for survival and your blueprint for growth. So
let's get into it. I'm going to break this into seven quick sections, each one critical and easy to understand. Grab a notebook or pause, and come back later if you're in the middle of something, but don't skip this step. Part one is the problem. Start with this What problem are you solving? Be honest, be specific. Great businesses solve real pain points. The example I'd give is scheduling for home healthcare workers is inefficient and wastes twenty percent of
their time. That's a real problem. If your business doesn't solve it, it's then just a hobby. Part two the So, this is your product or service. What are you offering and how does it solve the problem better, faster or cheaper? And don't get cute here. Don't write we are redefining the digital experience right Our app cuts scheduling time in half with AI driven smart calendars. Get clear on what you're offering, because if you're not clear, your customers won't
be either. Part three target market. Who are you selling to? And don't say everyone. Your product might help everyone, but your first customers won't be. Define your beachhead market. Are they college students, busy parents, small business owners with less than ten employees. Nail it down. Your marketing, pricing, and messaging all depend on this section. Part four is your
competitive edge. What makes your idea different? Or better. This is where you explain why you're not just another coffee shop, another podcast, or another T shirt brand. Maybe it's your price, maybe it's your brand voice, Maybe it's your delivery speed, maybe it's your background. The point is you need an edge and you need to put it on paper. Number five is revenue model. How are you going to make money? Be simple and specific if it's subscription, a one time
product sale, a licensing fee. Will you sell directly to customers or through partners? And don't forget to answer this, what will you charge and why? If you're scared to talk about money, you're not ready to be in business. Part six is marketing and sales strategy. How will people hear about you and what will make them buy? List your plan? Will you use social media ads, partner with influencers, attend local events, cold email, SEO or word of mouth?
Also include your sales funnel. What happens from the first click to the final sale. Don't just wing this. You don't get customers by accident. And Part seven is financial forecast and milestones. You don't need a CPA to do this part just be realistic. What will it cost to start? What are your monthly expenses, what's your break even point, how much do you need to make in year one? And what are your key milestones for the next twelve months?
And here's the leadership mindset. A business plan is not about predicting the future. It's about showing you have a plan if things go wrong, and that you know what success looks like when it finally shows up. So keep it simple. One page is better than nothing, A few pages is fine. A fifteen page investor ready document comes later if needed right now, just start use bullet points, use sticky notes, use voice memos. I don't care how it gets done. Just get it out of your head
head and into a plan. So, if you're serious about building something that lasts, this is the seven minute mindset shift. You can either hope your idea works or you can plan for it to succeed. Writing a business plan is not about checking a box. It's about stepping into leadership and owning your idea like it's already real. And that's how you go from dreamer to doer. This has been the seven minute Leadership podcast, and I thank you for listening.
For more, Paul fell of Alito Podcasts, visit paulfellowalito dot com