Components of an Effective Business Plan

I just received an email from a friend asking me about the components of a business plan.  There’s a long story behind this email, but I’ll simplify the story by saying I was a bit irritated with the question since I outlined the steps for him the other day at lunch (by the way, he paid… My business time is not free).

Being irritated actually helped me simplify my response to him.

All I wrote back was this.


Three components

  1.  Goals
  2.  Actions you have to take to achieve your goals
  3.  How you are going to be held accountable


Of course I paused before I sent this and thought, you know…. It really is that simple.  That’s what I’ve taught my clients for years and I’ve gotten HUGE results from following including those 3 things in every plan.

As business owners, we tend to make things really complex when it just doesn’t have to be.  There’s a ton of value in keeping it simple and focusing on what’s important.  Those 3 components are most important in a plan.  Is there more depth to each component?  You bet…  You will want goals in multiple categories of your life and business and the list of actions may be huge.  But make the PROCESS easy on yourself and you will get it done.


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