Business plans are essential for business growth.

How To Develop a Plan for Your Business: Part 2

by Steve Messineo

Owner | Professional Lead Generator & Coach | Connect w/me for Free

So, let’s talk about setting objectives for your business.  In the previous post I made here on bestPT, I talked about with utilizing the One Page Business Plan by Jim Horan. After you develop your vision and mission statements, the One Page Business Plan guides you on how to develop your objectives. Objectives are really your goals. And they are goals that are measurable – things that you can track and make sure you are achieving throughout the year. Your objectives are generally set up for a one year time frame.

And really the formula goes like this: Verb + Noun from what to what. For example, you may have a goal of increase, that’s your verb, your revenue (noun) from zero dollars to a hundred thousand dollars (from what to what) and that’s within a year’s time frame. Objectives are written with a one year time frame in mind.

Objectives need to be measurable – things that you can track, that you can see the growth on at the end of the year and make sure that you achieved your goals. They don’t have to be just goals that you are looking to increase on either. Maybe you have a customer cancellation problem. For example my physical therapy business, we have patients who cancel their visits.

One goal that we’ve always had is decrease, that’s our verb, patient cancellations, that’s the noun from 10% to 9%. That was our goal for last year and this year we are at 9% so next year our goal will be decrease patient cancellations from 9% to 8%. That will be the objective for the entire year and we will track it using spreadsheets to see that we’re actually on track for that goal throughout the course of the year.

In the next couple of videos, I will discuss creating the strategies and action plans needed to support your objectives, all necessary components of the one page business plan guide.   Check out the video now for more on writing objectives.

Again, check out my next post. I’ll talk about on how you set up your strategy planning using the one page business plan. If you’d like to talk to me directly on using this tool or anything else about your business, you can click to schedule a complementary consult with me.   I’ll be happy to chat with you, learn more about you and find ways to help you build your business.

If you are currently in the process of looking for a great business that you can get involved with, that has all this planning in place for you already, you can click and it will take you to a presentation about an online franchise model that I recommend for my clients. Maybe it’s something that will resonates with you and give you an opportunity to build a business online.

Thanks again for watching. I look forward to seeing you in the next video. Have a great day!