If you're going on a holiday, chances are you've invested in a map. But do you have a map for your business? You need one, and it's called a business plan.

1. Creating Your
ANNUAL
BUSINESS
PLAN Part 1
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2. An overwhelming majority of my
business coaching clients don't
have a business plan.
If they succeed, it’s on accident,
and never as much success as
they could've had with an annual
business plan.
Part 1 of your annual business
plan is your financial plan.
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3. Creating Your Financial Plan
1. Think of yourself as an
architect. An architect
creates a blueprint before
construction.
2. Likewise, you need to
create an annual blueprint
for your business before
you construct your vision
of success.
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4. Step 1: Create an
Expense Budget
The expense budget is based on
last year’s financial results, which
can be found on last year’s Profit
& Loss Statement.
It is the sum of your overhead
expenses and the direct costs of
reaching your financial goals.
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5. Step 2: Get Specific With
Your Financial Goals
Consider these four questions
when setting your financial goals
for next year:
1. What products or services are
you going to sell more of?
2. What new products or services
can you start selling?
3. How can you reduce overhead
costs?
4. How can you cut your direct
costs to improve your margins?
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6. Step 3: Create Your
Annual Plan of Action
Use Last year’s Profit & Loss
statement to determine how
much more of each product or
service you have to sell to hit
your financial goals. Look at
these three sections to
determine these numbers.
1. Total Revenue
2. Total Expenses
3. Net Profit
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7. Step 4: Break down your
Annual Goals
The final step of creating
your actionable financial
plan is to break down these
annual targets into
quarterly, monthly, weekly,
and daily sales goals.
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8. Part 2 Preview
Part 2 of CreatingYour
Annual Business Plan will
cover how to develop your:
• Marketing Plan
• Human Resources Plan
• Projects
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