Personal Business Planning

Tamara 14 (1)

When you hear the term ‘Business Plan’, you may immediately picture the intense moment of pitching an idea to an investor, hoping to secure some funding for your growing business. In this moment, the investors are going to want to see all of your numbers; sales, equity offer, profit margins etc. All of which would be in a professionally presented ‘Business Plan’. What I am introducing here is a different kind of business planning that is created for you, by you. A Personal Business Plan.

Why, (you may be wondering) do you need a ‘Personal’ Business plan? I propose that writing a vision for your business beyond a mission statement (as well as creating a system to work though strategies for growth), will help keep you aligned to your ‘big’ picture of your business and it’s potential future. Whether you will need partners in the future – planning your business with a personal approach can help you reach those goals by laying a foundation that is specifically aligned to your skills, abilities and personal preferences in business (Note: this isn’t the plan that you would share with the bank. This one is just for you).

A ‘Personal Business Plan’ (from my perspective) still dives into the nuts and bolts of business. Covering all of the basics from defining your customer avatar to building a brand to planning a promotion. The difference is that the plans you make relate to who you are as a person and what you want for your future. Here is what I mean:

Within ‘Personal Business Plans’, I encourage you to ask yourself questions that only you can answer; instead of thinking about what someone else may think is ‘right’. These questions will help you identify the lifestyle and purpose around your business, which will inevitably increase personal satisfaction and intrinsic motivation in the long run. Using ‘Defining Customer Avatar’ as an example. Instead of just asking: ‘Who has the most money to spend in this category?’ (Which I still think you need to ask), I suggest thinking about how you personally relate and whom you want to work with. For example: If part of your life experience has included raising children in a rural community with no access to recreation programs – you would probably understand that particular population on a level that cannot be identified on paper. Lifestyle wise, if you are in a season of your life where you want to be traveling, this is where you would ask yourself ‘Will my ideal client/avatar be interested in attending VIP event across the country?’ .If they aren’t – are you willing to sacrifice that need of yours? Or do you need too? Only you know.

Asking questions is part of the process; the other aspect of Personal Business Planning is to reference your future vision with daily choices. When you craft your plans in a way that includes your ultimate goals it can steer you in a direction that you are going to be happy with in the long run. An investor may not know that you see yourself living in on a beach in Hawaii or helping to raise your grandchildren in how ever many years.

Personal Business Planning is a strategy that I have seen many successful female entrepreneurs embrace and I encourage you to try it out and see if it can guide you to the next stage of your growing business.

Tamara is the owner and designer at ‘Your Pretty Pages’ where she provides templates, planners, guides and resources for creative entrepreneurs to get and stay organized. To support your successful personal business planning, Tamara has just released two savings bundles of templates in her shop found here: https://www.etsy.com/shop/yourprettypages

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