How Does A Business Plan Benefit The Entrepreneur

How does a business plan benefit the entrepreneur? Well, it gives you a map. So where you are to where you need to go. So in this session, we're going to talk about every entrepreneur that is serious, has a plan and why they have a plan. Number two, the real reason you're not raising capital and need capital or even creating good sales. It's usually in a lack of plan. And then the last thing we're going to talk about, what do you do to create the structure that you need in a business versus like the legal zooms and some of these what I call online, you know, dot portals that give you no help personally, but it's like clicking a button. Those are dangerous in my mind because you're not getting any expert help. So how does a business plan help an entrepreneur? Again, it gives you a roadmap. It says we're starting here. This is where we want to go. And you actually build into the plans. Inside of a business plan, you're going to talk about your marketing plan, how you're going to generate a lead. And most of that these days is online. So what is your online campaigns, your websites, your rapid marketing systems, your databases, how you're going to build a database of people interested in what you want. Then you've got to have a sales system. So right behind it, how are you going to sell? Do that immediate conversion. You have somebody click on a link. How do they then go buy? Like one of ours, we have a brand new book. If you want the version two of the millionaire maker, grab it. It's in the link below. For us, we do pre-orders on these books, like 15 plus shipping and handling. So a lot of you, you've got to create some level of marketing and sales campaigns online. You've got to learn to manage cashflow. Those are the three hardest skillsets of an entrepreneur. Also inside of a business plan, you're going to talk a lot about your strategy and then the tactics below it. What's the organization that actually is going to handle it? So they're hiring as they're the human capital side. Then you've got to talk about operations. You got to talk about customer service. Do you want SOPs on all of this? What's the technology that's going to be running the company? And how is that all going to flow? So a business plan lays out the entire operation for at least a year, if not three. Three to five year plan is usually a good plan. One to three years for those of you that are beginning is plenty. But every aspect of a business has to be looked at and how are you going to run it? My favorite business plans are written, especially org charts without you in it. So how are you going to build a team? What's it going to take to do all of this? And do you have to raise capital? So that's kind of the next point is if you want to raise capital, you need way more than a building meeting protecting your business plan. So I wrote a four-hour business plan that gets you operational. There's a link below. You can go grab a copy of it. We'll give you a great old discount on it. But if you want to raise capital, it's a whole different game. It's usually a prospectus. It's a PPM. You're going to put how you're going to use the funds, how the investors are going to be treated, what's the waterfall, meaning how the investor is being paid back. Much more sophisticated at that point. You can do operational with us. Four-hour business plans are quick, but if you want to really raise capital, then they're usually about three to five, sometimes 10% of what you need to raise in capital. So meaning it could cost 10, 15, $25,000 for a business plan that is designed strategically for you to go raise capital. Much more sophisticated. Most of you on this channel probably don't need that today. You might need it as you develop as an entrepreneur and a wealth builder. So before I continue on, I want you to subscribe to our channel. I'd like you here five days a week. Be here with your family. Get your kids involved in a business plan. What do they want to do? What could they do to make an extra thousand a month? Create a little business plan. What's it cost? Are there cost of goods? How much could they make? What's it going to take for them to make an extra thousand, 2,000, 10,000? All of you can do it. Again, Building, Leading, Protecting. It's in the show notes. It's a four-hour operational plan. Now, if you go over to LegalZoom, the problem is there's business plans. There's some corporate structure. There's no help. So to do this without a mentor, a coach, someone who's been before you and you're just hunting and pecking and clicking things, we see enormous mistakes. And not only just like little mistakes, costly mistakes because you set up wrong companies. I just had a client come into the big table. She's got six LLCs. I'm like, why? And she said, well, that's what I kind of understood from a LegalZoom. I'm like, you don't need six. You've got one piece of property and no cash machine. So I have ideas for it. Well, you don't spend the money on ideas. You spend the money when it gets to revenue. You don't build it and pray they come. They won't. You have to pre-sell and do a very specific structure. I teach this every month at a session called The Millionaire Intensive. I'm going to give you two tickets in the show notes below. Make sure you come. Upgrade to the VIP. There's another link in there. That way you get the replays. You can share it with all your family members. And I think you need to watch it and listen to it eight to 10 times because repetition is the master of this financial literacy. So make sure you get some real help. I'm here to coach you. I have 28 financial experts and another dozen plus coaches that are here to support you and your journey to create a legacy for you and your family. And the biggest legacy that I think you could ever create is a business. So get a business plan, become an entrepreneur and have an unlimited upside of buying and having and investing in whatever you want. We're back here five days a week. We're going to be back tomorrow on another topic. If you have any questions at any time, go to askworld.com, ask a question, make a request. Let's talk to you tomorrow.