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This is the sixth year I have been running my business. I’ve never had a detailed business plan. I am constantly learning, evaluating and pivoting. I’m sure a very detailed “map” would have been handy at the start, but I feel like it never would have been stuck to. I have mentors as well as coaches that I work with. I have learned sooooooooo much from others!!!! A business plan simply would not give me the same ROI. I have used %100 of my own money to get me to where I am today. Yes I have a good chunk of debt, but I am in complete control of my business. When “outside” sources of $ come in to play, there are always strings attached.
I have spent a fortune on myself with coaches, programs, certifications, workshops, etc! This has been money very well spent. I feel like investing in yourself is the best investment you can possibly make. On my business, I’ve paid for a website, zoom, canva, a fitness app, insurance, business cards and tons of equipment. Yes this is a ton of money up front! However, all this is paying off and once you have solid “systems” in place, everything flows much smoother.
I currently offer three different programs with three different price points. I will be coming up with several different revenue streams within the nest few months. There is no possible way I could have wrote a business plan at the start that would have taken all this into account.
Exactly! Check out the exchange Dan & I had on the same topic. Business planning and financial planning have an important role play… but much later in your business, when you have real life experiences and data to work with. This mapping process is helpful to get the idea out of your head so you can objectively start playing with the model and incorporate the goals you have into the design (ie: this is what I want to do and how I will get there). But our goal is to get you activating that canvas ASAP! We’re focused on the fastest path to revenue generation. Learn by doing. Adapt the model based on how the market is responding.
Erin.
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