Thread by @BigBankOus

HOW TO CREATE AN ACTIONABLE BUSINESS PLAN THAT
- Gets you approved for Loans
- Creates a Roadmap for Business Success

And Ultimately gets you PAID

(A Thread)

https://twitter.com/BigBankOus/status/1217861834386132995

So before we dive in to the specifics of this particular method, I think we should start with a little bit 🤏of history.

SO I'll cover:

1. Traditional Business Plans
2. The Lean Startup Business Plan

Before moving on to my own personal version of a "business plan"

Ready?

A Traditional Business Plan Goes Something Like this

1. Executive summary
2. Company description
3. Market analysis
4. Organization and management
5. Service or product line
6. Marketing and sales
7. Financial projections
8. Appendix

This is what investors & lenders usally want

Unfortunately I find that there are multiple problems with this business plan...

- require a lot of work up front
- are written out of order (more on this later)
- may/may not be written by the biz owner

AND are usually long, extensive & boring 🙃

so what's the alternative?

In the past decade the tech industry has been BOOMING

Chances are that you (the reader) have a least 10-20 apps that you use on a DAILY BASIS

However if you've ever sat down to plan an app business you'll quickly realize that making a Best Selling app isnt as easy as saying 123

What the INNOVATORS of Silicon Valley realized is that in order to quickly "fail forward" they needed a newer form of a business model to help them innovate faster and get to a "Profitable" Business SOONER.

Enter the Lean Start-Up Version Business Plan: The Business Model Canvas

So What does this usually consist of?

Key partnerships
Key activities
Key resources
Value proposition
Customer relationships
Customer segments
Channels
Cost structure

A lean business model mean covering all the key aspects of a business that make it a success...or does it?

While this canvas is usually good for giving you a high level picture of a business, it also has holes...

It doesn't cover the actual PROCESS of starting a business...

And that's what my issue has always been with all these different types of business models...

One of my business mantras is

GREAT PROCESS = Profitable PROGRESS

and so when I developed my version of a business plan I kept that in mind...

...because if you fail to plan (correctly) then you are planning to fail...

SO here's MY version of how a business plan should go:

1. Developing a Unique offer for Your Market

Market Research
👇
Market Segmentation
👇
Segment Selection
👇
Customer Avatar
👇
Positioning

If you've gone through these steps correctly then you should be end up with a Unique Offer

2. Creating a plan to Market, Sell, And Scale Your offer

Map Your Customer's Journey
👇
Map out Your Sales Funnel (brick and mortars have em too)
👇
Map out Workflows
(designer, operator, manager, costs, revenues, and KPIs)

Do this and you have a clear idea how to SELL & SCALE

3. Create a Financial Plan

All of these workflows require time and money...

Your financial plan should cover how much money is going to be put into each workflow for:
- System design
- Managers
- Operators (could be a VA or Zapier)

AND how much revenue each workflow generates

IF you've been PAYING attention & you understand your way around business then you know that this method hits all the points of both:

- a TRADITIONAL Biz model
- a LEAN BUSINESS MODEL

AND is structured in a way that is ACTIONABLE & will allow you to guarantee success BUT...

I can only write but so much on twitter...

IF you want to learn more about my method...sign up here: Story.yourbigbank.com

What you'll get is a step by step walkthrough of how this Method works and how you can use it to start building YOUR BIG BANK.

P.S.

When you sign up you'll receive 1 email to confirm your subscription...

...you'll have to click to confirm before you start to receive any emails (white list me as well)

Also there's a link to consult with me in my bio

I'll be raising my fees after the first 10 bookings

@NerdNomadMom done (part 1 of it anyway hehe)

Oh and if you enjoyed this thread please take a moment to RT the original tweet.

You’ll be:
- putting great content on your TL
- helping other business owners
- helping me out too ☺️☺️

Here it is:
👇🏾

https://twitter.com/BigBankOus/status/1217921737939136524?s=20