How Does A Business Plan Help Entrepreneurs

How does a business plan help your entrepreneurial venture? In this video, I'm going to talk a lot about how to use a plan, the components of a plan, and how it's going to help you get past that six figures, if you're not there yet, into seven figures. If you're going to run a company, let's roll. Well into six figures, seven's even better. So I'm going to share with you in this video, three things that are absolutely critical. Number one, why you need a plan so you don't have the IRS following you. Number two, the components of a plan. There's seven specific things that you have to have in your business plan. And number three, how to get it done in less than four hours without any writer's block or any weird stuff. It's really easy. Stay tuned. So let's start, first of all, with why be an entrepreneur? Well, if you're an, you're an employee your whole life, then you're going to get taxed and make money like this. You are going to make money in a job. They're going to take a ton of tax out and you get to spend what's left. A lot of people call that a discretionary income. What a horrible word. And the problem with only having a job in your whole life, you don't have any tax deductions. Like you can't write off your car. You can't write a part of your house. You can't write off your computer. You can't write off your kids. If you don't have any kids, you should get them. They're tax deductible. They're fabulous. So being an entrepreneur is critical for everyone in any country of the world. So yes, you can have a job, but an entrepreneurial venture gives you the benefit of the wealthy. So a lot of people say, well, rich people are bad or rich people do things. No, rich people just use the system differently. It's totally legal. It's totally available to everyone. So be an entrepreneur. And the only thing you need to do to be a great entrepreneur is you have to have the legal right, and this is by definition, the legal right and intention to make money. So what is the product and service you're going to build a business around? That you have a legal right. You're going to sell, I don't care if dog walking service, cleaning services, handyman services, a network marketing company. I have tons, thousands of network marketing companies. In fact, I'm in several network marketing companies. I sell coaching. I sell mentoring. Like what's your product or service? Now you're going to write a business plan. So as an entrepreneur, you're going to decide a product or service that's going to serve somebody else. And you have the legal intention to make money with it, right? Now you're a business, right? We're going to set you up in an entity as well. But that business now needs a business plan. In the United States, it's called the IRS. In Canada, it's the Canadian Revenue Service, but every country has a government agency that oversees whether you pay tax and how you pay tax. And the difference is inside a business, you're going to write this business plan and you have the legal right now to do 81,000 pages, somewhere between 81 and 83. It changes depending on what the government's doing, but you have massive, massive opportunities to do deductions because you have a legal right to make money. So let's talk about what's inside a business plan. And I have a very specific plan, state of the end, and I'm going to give you access to my business plan structure. So there's seven things that are in a business plan. So number one, it's your vision. Like what is the thing you're doing? Like our vision and mission is to change this conversation about money. And I would hope you've already seen in this channel that it is a very different conversation. What you're taught is wrong. I'm right. So if you like that, by the way, would you please hit a whole bunch of likes? Cause I think that was funny. So back to the business plan, your vision critical. Next thing you got to have your strategies. Like what? So you have a vision. What are you going to do? Mine's change conversation with money. So strategies, how am I going to do it? I'm going to do it through coaching. I'm going to do it through my books, through my game. I have this brilliant game. So those are the strategies. Then you have the tactics. The tactics are, well, how does that all get done? How are you going to deliver your coaching? How are you going to deliver the books, right? So then there's the tactics that drive the strategy. Then there's your revenue model. What's your revenue? How are you going to make money? What's the pricing? We call it our revenue funnel. So I'm going to sell some books. And then from the books, we have some group coaching. And from group coaching, we have one-on-one and from one-on-one we have what's called my big table. So we have all these different things that we can sell, right? So you have your vision, you have strategies and tactics, you have your revenue model. Now you've got to market it. You got to get people interested. How are you going to market this business of yours? Now this is going to take a little bit of time and of all of the things inside your business plan, this will be ever-changing and ever-increasing given the apps, the software, the social media, everything that's out there, you're going to need online and offline marketing strategies. And I have a very cool way I walk you through that. Then you got to sell. So what's your sales plan? All right. So I teach a very simple concept called ask, tell, ask. Ask somebody what they want, tell them why you're the answer and ask them for some cash. Now that sounds pretty simple, but I have a long training that's actually inside of this business plan that I will share with you at the end of my video. Then you got to get into the company structure. Are you going to be an LLC? This is American vernacular. Are you going to be an LLC, an S-corp, a C-corp, a limited partnership? What are you going to be? If you're in Canada, you're either a corporation, you could be a trust, you could be what's called a numbered company. You could be a limited proprietary, proprietary limited, depending on where you are in the world, those are ideas, but you have to be a company. Why? You won't get the business deductions. You have to do it. So here's an example. As an owner of a company, I actually can have an officer and director vehicle, right? So now I can write off my car. I have the right to write off wardrobe because I have a company. I have the right to write off my phone. I can hire my kids by my company. I mean, if you have a job, where are you going to hire your kids from? So our whole teaching is if you have a job, that's fine. I want an entrepreneurial venture with this business plan. Now, the last part of this business plan is critical. It is your team. And inside my business planning process, I give you an exact, even interview. How do you interview a CPA for your team? How do you hire someone that's technical? How do you hire down to your assistant? How do you hire a manager? How do you train? How do you lead? So a big part of your business plan. So I have crafted through my voice, a four hour audio that will walk you through all of these components of a business plan. So let's talk about the third thing, which is how do you do it without a lot of block? Because I already know a lot of you are going, oh my gosh, this sounds like so much work. I can't do it all. Yes, you can. If I can do it, you can do it. And it's why I made it super simple. You're going to open up a word document. You're going to listen to my voice and you're going to start typing. If you don't want to type, just start talking. Have a transcribe. Voila, you're done. Right? So you don't have to type. I'm not a typer either. I'm a talker. So I just walk around the recording and listen to me. And then I talk and then that's the way you get your plan done. So very quickly, you're going to get it done in four hours. Let me give you a few places. I know you're going to get stuck. You're going to get stuck at vision because you're going to say, I just want to quit my darn job. That's the only reason I'm running this company. I get it. Like I could not wait to quit my job. I have had one job my whole life and it was like being in prison. I hated that job. So if you like that comment and you're not an employee person either, and you're racing to be an entrepreneur, like give me a bunch of likes in there or comments, whatever, because I want to know who you are. If you're excited about this content, you want to know more. I can help you quit your job in two, three months, but you got to do exactly what I say and you got to get this business plan done. So on the vision, back to the vision, as you're starting to type or talk and you just say, I just want to quit my job. That's really not a vision. That's just a simple first goal. So just say, skip it. In big red bold, all you're going to say is skip it. Then you're going to go to the next one, strategy. So what are you going to sell? And then tactics, how are you going to sell it? Marketing, sales, revenue funnel. Those aren't going to be very difficult to get done, right? Where you're going to get stuck again is down in the entity structure. You're going to say, I don't know in big red. And you say, I got to go get Laurel's team's help. So you're going to put that in red and just keep going. And then you're going to go down to the team and you'll be able to work through the team. So there'll be places that you might get stuck. My feedback and like highly emphasize is don't get blocked. Just say, come back to it, come back to it. So just keep like where you free flow, you're thinking about your business plan, your strategies. Maybe you'll get to the marketing and think, you know, I don't know a lot about marketing. I know about offline, but I don't know online. Just write out what you know. I give a very, very specific structure to it. And then whenever you get stuck, just say, come back to it, come back to it. I don't know, or get a team to get somebody to help you. So again, critical. You have to have it. So if in any country of the world, you're ever challenged by these deductions or you get an audit, the first thing they're going to ask you is you're doing all these deductions. Where's your business plan? I can guarantee my business plan in the United States and in Canada have passed audits because it is so thorough. So I want you to get my plan. I want you to go to the link below. I'm going to give you the outlines and the bullets of my business plan. This is an amazing gift. I never give this away. My team's going to kill me, but I think it's so valuable. It's going to avoid audits. It's going to keep you very focused on what you need to do. It's going to help guide you to hire the right team and keep you on track to get the vision of whatever that is for you. For me, my mission and vision change this conversation about money because it's so horribly done in the world.