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How to Write a Business Plan, Step by Step

Rosalie Murphy

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

What is a business plan?

1. write an executive summary, 2. describe your company, 3. state your business goals, 4. describe your products and services, 5. do your market research, 6. outline your marketing and sales plan, 7. perform a business financial analysis, 8. make financial projections, 9. summarize how your company operates, 10. add any additional information to an appendix, business plan tips and resources.

A business plan outlines your business’s financial goals and explains how you’ll achieve them over the next three to five years. Here’s a step-by-step guide to writing a business plan that will offer a strong, detailed road map for your business.

Bizee

A business plan is a document that explains what your business does, how it makes money and who its customers are. Internally, writing a business plan should help you clarify your vision and organize your operations. Externally, you can share it with potential lenders and investors to show them you’re on the right track.

Business plans are living documents; it’s OK for them to change over time. Startups may update their business plans often as they figure out who their customers are and what products and services fit them best. Mature companies might only revisit their business plan every few years. Regardless of your business’s age, brush up this document before you apply for a business loan .

» Need help writing? Learn about the best business plan software .

This is your elevator pitch. It should include a mission statement, a brief description of the products or services your business offers and a broad summary of your financial growth plans.

Though the executive summary is the first thing your investors will read, it can be easier to write it last. That way, you can highlight information you’ve identified while writing other sections that go into more detail.

» MORE: How to write an executive summary in 6 steps

Next up is your company description. This should contain basic information like:

Your business’s registered name.

Address of your business location .

Names of key people in the business. Make sure to highlight unique skills or technical expertise among members of your team.

Your company description should also define your business structure — such as a sole proprietorship, partnership or corporation — and include the percent ownership that each owner has and the extent of each owner’s involvement in the company.

Lastly, write a little about the history of your company and the nature of your business now. This prepares the reader to learn about your goals in the next section.

» MORE: How to write a company overview for a business plan

3 6 month business plan

The third part of a business plan is an objective statement. This section spells out what you’d like to accomplish, both in the near term and over the coming years.

If you’re looking for a business loan or outside investment, you can use this section to explain how the financing will help your business grow and how you plan to achieve those growth targets. The key is to provide a clear explanation of the opportunity your business presents to the lender.

For example, if your business is launching a second product line, you might explain how the loan will help your company launch that new product and how much you think sales will increase over the next three years as a result.

» MORE: How to write a successful business plan for a loan

In this section, go into detail about the products or services you offer or plan to offer.

You should include the following:

An explanation of how your product or service works.

The pricing model for your product or service.

The typical customers you serve.

Your supply chain and order fulfillment strategy.

You can also discuss current or pending trademarks and patents associated with your product or service.

Lenders and investors will want to know what sets your product apart from your competition. In your market analysis section , explain who your competitors are. Discuss what they do well, and point out what you can do better. If you’re serving a different or underserved market, explain that.

Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.

Include details about your sales and distribution strategies, including the costs involved in selling each product .

» MORE: R e a d our complete guide to small business marketing

If you’re a startup, you may not have much information on your business financials yet. However, if you’re an existing business, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company.

Accounting software may be able to generate these reports for you. It may also help you calculate metrics such as:

Net profit margin: the percentage of revenue you keep as net income.

Current ratio: the measurement of your liquidity and ability to repay debts.

Accounts receivable turnover ratio: a measurement of how frequently you collect on receivables per year.

This is a great place to include charts and graphs that make it easy for those reading your plan to understand the financial health of your business.

This is a critical part of your business plan if you’re seeking financing or investors. It outlines how your business will generate enough profit to repay the loan or how you will earn a decent return for investors.

Here, you’ll provide your business’s monthly or quarterly sales, expenses and profit estimates over at least a three-year period — with the future numbers assuming you’ve obtained a new loan.

Accuracy is key, so carefully analyze your past financial statements before giving projections. Your goals may be aggressive, but they should also be realistic.

NerdWallet’s picks for setting up your business finances:

The best business checking accounts .

The best business credit cards .

The best accounting software .

Before the end of your business plan, summarize how your business is structured and outline each team’s responsibilities. This will help your readers understand who performs each of the functions you’ve described above — making and selling your products or services — and how much each of those functions cost.

If any of your employees have exceptional skills, you may want to include their resumes to help explain the competitive advantage they give you.

Finally, attach any supporting information or additional materials that you couldn’t fit in elsewhere. That might include:

Licenses and permits.

Equipment leases.

Bank statements.

Details of your personal and business credit history, if you’re seeking financing.

If the appendix is long, you may want to consider adding a table of contents at the beginning of this section.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Here are some tips to write a detailed, convincing business plan:

Avoid over-optimism: If you’re applying for a business bank loan or professional investment, someone will be reading your business plan closely. Providing unreasonable sales estimates can hurt your chances of approval.

Proofread: Spelling, punctuation and grammatical errors can jump off the page and turn off lenders and prospective investors. If writing and editing aren't your strong suit, you may want to hire a professional business plan writer, copy editor or proofreader.

Use free resources: SCORE is a nonprofit association that offers a large network of volunteer business mentors and experts who can help you write or edit your business plan. The U.S. Small Business Administration’s Small Business Development Centers , which provide free business consulting and help with business plan development, can also be a resource.

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Step-by-Step Guide to Writing a Simple Business Plan

By Joe Weller | October 11, 2021

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A business plan is the cornerstone of any successful company, regardless of size or industry. This step-by-step guide provides information on writing a business plan for organizations at any stage, complete with free templates and expert advice. 

Included on this page, you’ll find a step-by-step guide to writing a business plan and a chart to identify which type of business plan you should write . Plus, find information on how a business plan can help grow a business and expert tips on writing one .

What Is a Business Plan?

A business plan is a document that communicates a company’s goals and ambitions, along with the timeline, finances, and methods needed to achieve them. Additionally, it may include a mission statement and details about the specific products or services offered.

A business plan can highlight varying time periods, depending on the stage of your company and its goals. That said, a typical business plan will include the following benchmarks:

  • Product goals and deadlines for each month
  • Monthly financials for the first two years
  • Profit and loss statements for the first three to five years
  • Balance sheet projections for the first three to five years

Startups, entrepreneurs, and small businesses all create business plans to use as a guide as their new company progresses. Larger organizations may also create (and update) a business plan to keep high-level goals, financials, and timelines in check.

While you certainly need to have a formalized outline of your business’s goals and finances, creating a business plan can also help you determine a company’s viability, its profitability (including when it will first turn a profit), and how much money you will need from investors. In turn, a business plan has functional value as well: Not only does outlining goals help keep you accountable on a timeline, it can also attract investors in and of itself and, therefore, act as an effective strategy for growth.

For more information, visit our comprehensive guide to writing a strategic plan or download free strategic plan templates . This page focuses on for-profit business plans, but you can read our article with nonprofit business plan templates .

Business Plan Steps

The specific information in your business plan will vary, depending on the needs and goals of your venture, but a typical plan includes the following ordered elements:

  • Executive summary
  • Description of business
  • Market analysis
  • Competitive analysis
  • Description of organizational management
  • Description of product or services
  • Marketing plan
  • Sales strategy
  • Funding details (or request for funding)
  • Financial projections

If your plan is particularly long or complicated, consider adding a table of contents or an appendix for reference. For an in-depth description of each step listed above, read “ How to Write a Business Plan Step by Step ” below.

Broadly speaking, your audience includes anyone with a vested interest in your organization. They can include potential and existing investors, as well as customers, internal team members, suppliers, and vendors.

Do I Need a Simple or Detailed Plan?

Your business’s stage and intended audience dictates the level of detail your plan needs. Corporations require a thorough business plan — up to 100 pages. Small businesses or startups should have a concise plan focusing on financials and strategy.

How to Choose the Right Plan for Your Business

In order to identify which type of business plan you need to create, ask: “What do we want the plan to do?” Identify function first, and form will follow.

Use the chart below as a guide for what type of business plan to create:

Is the Order of Your Business Plan Important?

There is no set order for a business plan, with the exception of the executive summary, which should always come first. Beyond that, simply ensure that you organize the plan in a way that makes sense and flows naturally.

The Difference Between Traditional and Lean Business Plans

A traditional business plan follows the standard structure — because these plans encourage detail, they tend to require more work upfront and can run dozens of pages. A Lean business plan is less common and focuses on summarizing critical points for each section. These plans take much less work and typically run one page in length.

In general, you should use a traditional model for a legacy company, a large company, or any business that does not adhere to Lean (or another Agile method ). Use Lean if you expect the company to pivot quickly or if you already employ a Lean strategy with other business operations. Additionally, a Lean business plan can suffice if the document is for internal use only. Stick to a traditional version for investors, as they may be more sensitive to sudden changes or a high degree of built-in flexibility in the plan.

How to Write a Business Plan Step by Step

Writing a strong business plan requires research and attention to detail for each section. Below, you’ll find a 10-step guide to researching and defining each element in the plan.

Step 1: Executive Summary

The executive summary will always be the first section of your business plan. The goal is to answer the following questions:

  • What is the vision and mission of the company?
  • What are the company’s short- and long-term goals?

See our  roundup of executive summary examples and templates for samples. Read our executive summary guide to learn more about writing one.

Step 2: Description of Business

The goal of this section is to define the realm, scope, and intent of your venture. To do so, answer the following questions as clearly and concisely as possible:

  • What business are we in?
  • What does our business do?

Step 3: Market Analysis

In this section, provide evidence that you have surveyed and understand the current marketplace, and that your product or service satisfies a niche in the market. To do so, answer these questions:

  • Who is our customer? 
  • What does that customer value?

Step 4: Competitive Analysis

In many cases, a business plan proposes not a brand-new (or even market-disrupting) venture, but a more competitive version — whether via features, pricing, integrations, etc. — than what is currently available. In this section, answer the following questions to show that your product or service stands to outpace competitors:

  • Who is the competition? 
  • What do they do best? 
  • What is our unique value proposition?

Step 5: Description of Organizational Management

In this section, write an overview of the team members and other key personnel who are integral to success. List roles and responsibilities, and if possible, note the hierarchy or team structure.

Step 6: Description of Products or Services

In this section, clearly define your product or service, as well as all the effort and resources that go into producing it. The strength of your product largely defines the success of your business, so it’s imperative that you take time to test and refine the product before launching into marketing, sales, or funding details.

Questions to answer in this section are as follows:

  • What is the product or service?
  • How do we produce it, and what resources are necessary for production?

Step 7: Marketing Plan

In this section, define the marketing strategy for your product or service. This doesn’t need to be as fleshed out as a full marketing plan , but it should answer basic questions, such as the following:

  • Who is the target market (if different from existing customer base)?
  • What channels will you use to reach your target market?
  • What resources does your marketing strategy require, and do you have access to them?
  • If possible, do you have a rough estimate of timeline and budget?
  • How will you measure success?

Step 8: Sales Plan

Write an overview of the sales strategy, including the priorities of each cycle, steps to achieve these goals, and metrics for success. For the purposes of a business plan, this section does not need to be a comprehensive, in-depth sales plan , but can simply outline the high-level objectives and strategies of your sales efforts. 

Start by answering the following questions:

  • What is the sales strategy?
  • What are the tools and tactics you will use to achieve your goals?
  • What are the potential obstacles, and how will you overcome them?
  • What is the timeline for sales and turning a profit?
  • What are the metrics of success?

Step 9: Funding Details (or Request for Funding)

This section is one of the most critical parts of your business plan, particularly if you are sharing it with investors. You do not need to provide a full financial plan, but you should be able to answer the following questions:

  • How much capital do you currently have? How much capital do you need?
  • How will you grow the team (onboarding, team structure, training and development)?
  • What are your physical needs and constraints (space, equipment, etc.)?

Step 10: Financial Projections

Apart from the fundraising analysis, investors like to see thought-out financial projections for the future. As discussed earlier, depending on the scope and stage of your business, this could be anywhere from one to five years. 

While these projections won’t be exact — and will need to be somewhat flexible — you should be able to gauge the following:

  • How and when will the company first generate a profit?
  • How will the company maintain profit thereafter?

Business Plan Template

Business Plan Template

Download Business Plan Template

Microsoft Excel | Smartsheet

This basic business plan template has space for all the traditional elements: an executive summary, product or service details, target audience, marketing and sales strategies, etc. In the finances sections, input your baseline numbers, and the template will automatically calculate projections for sales forecasting, financial statements, and more.

For templates tailored to more specific needs, visit this business plan template roundup or download a fill-in-the-blank business plan template to make things easy. 

If you are looking for a particular template by file type, visit our pages dedicated exclusively to Microsoft Excel , Microsoft Word , and Adobe PDF business plan templates.

How to Write a Simple Business Plan

A simple business plan is a streamlined, lightweight version of the large, traditional model. As opposed to a one-page business plan , which communicates high-level information for quick overviews (such as a stakeholder presentation), a simple business plan can exceed one page.

Below are the steps for creating a generic simple business plan, which are reflected in the template below .

  • Write the Executive Summary This section is the same as in the traditional business plan — simply offer an overview of what’s in the business plan, the prospect or core offering, and the short- and long-term goals of the company. 
  • Add a Company Overview Document the larger company mission and vision. 
  • Provide the Problem and Solution In straightforward terms, define the problem you are attempting to solve with your product or service and how your company will attempt to do it. Think of this section as the gap in the market you are attempting to close.
  • Identify the Target Market Who is your company (and its products or services) attempting to reach? If possible, briefly define your buyer personas .
  • Write About the Competition In this section, demonstrate your knowledge of the market by listing the current competitors and outlining your competitive advantage.
  • Describe Your Product or Service Offerings Get down to brass tacks and define your product or service. What exactly are you selling?
  • Outline Your Marketing Tactics Without getting into too much detail, describe your planned marketing initiatives.
  • Add a Timeline and the Metrics You Will Use to Measure Success Offer a rough timeline, including milestones and key performance indicators (KPIs) that you will use to measure your progress.
  • Include Your Financial Forecasts Write an overview of your financial plan that demonstrates you have done your research and adequate modeling. You can also list key assumptions that go into this forecasting. 
  • Identify Your Financing Needs This section is where you will make your funding request. Based on everything in the business plan, list your proposed sources of funding, as well as how you will use it.

Simple Business Plan Template

Simple Business Plan Template

Download Simple Business Plan Template

Microsoft Excel |  Microsoft Word | Adobe PDF  | Smartsheet

Use this simple business plan template to outline each aspect of your organization, including information about financing and opportunities to seek out further funding. This template is completely customizable to fit the needs of any business, whether it’s a startup or large company.

Read our article offering free simple business plan templates or free 30-60-90-day business plan templates to find more tailored options. You can also explore our collection of one page business templates . 

How to Write a Business Plan for a Lean Startup

A Lean startup business plan is a more Agile approach to a traditional version. The plan focuses more on activities, processes, and relationships (and maintains flexibility in all aspects), rather than on concrete deliverables and timelines.

While there is some overlap between a traditional and a Lean business plan, you can write a Lean plan by following the steps below:

  • Add Your Value Proposition Take a streamlined approach to describing your product or service. What is the unique value your startup aims to deliver to customers? Make sure the team is aligned on the core offering and that you can state it in clear, simple language.
  • List Your Key Partners List any other businesses you will work with to realize your vision, including external vendors, suppliers, and partners. This section demonstrates that you have thoughtfully considered the resources you can provide internally, identified areas for external assistance, and conducted research to find alternatives.
  • Note the Key Activities Describe the key activities of your business, including sourcing, production, marketing, distribution channels, and customer relationships.
  • Include Your Key Resources List the critical resources — including personnel, equipment, space, and intellectual property — that will enable you to deliver your unique value.
  • Identify Your Customer Relationships and Channels In this section, document how you will reach and build relationships with customers. Provide a high-level map of the customer experience from start to finish, including the spaces in which you will interact with the customer (online, retail, etc.). 
  • Detail Your Marketing Channels Describe the marketing methods and communication platforms you will use to identify and nurture your relationships with customers. These could be email, advertising, social media, etc.
  • Explain the Cost Structure This section is especially necessary in the early stages of a business. Will you prioritize maximizing value or keeping costs low? List the foundational startup costs and how you will move toward profit over time.
  • Share Your Revenue Streams Over time, how will the company make money? Include both the direct product or service purchase, as well as secondary sources of revenue, such as subscriptions, selling advertising space, fundraising, etc.

Lean Business Plan Template for Startups

Lean Business Plan Templates for Startups

Download Lean Business Plan Template for Startups

Microsoft Word | Adobe PDF

Startup leaders can use this Lean business plan template to relay the most critical information from a traditional plan. You’ll find all the sections listed above, including spaces for industry and product overviews, cost structure and sources of revenue, and key metrics, and a timeline. The template is completely customizable, so you can edit it to suit the objectives of your Lean startups.

See our wide variety of  startup business plan templates for more options.

How to Write a Business Plan for a Loan

A business plan for a loan, often called a loan proposal , includes many of the same aspects of a traditional business plan, as well as additional financial documents, such as a credit history, a loan request, and a loan repayment plan.

In addition, you may be asked to include personal and business financial statements, a form of collateral, and equity investment information.

Download free financial templates to support your business plan.

Tips for Writing a Business Plan

Outside of including all the key details in your business plan, you have several options to elevate the document for the highest chance of winning funding and other resources. Follow these tips from experts:.

  • Keep It Simple: Avner Brodsky , the Co-Founder and CEO of Lezgo Limited, an online marketing company, uses the acronym KISS (keep it short and simple) as a variation on this idea. “The business plan is not a college thesis,” he says. “Just focus on providing the essential information.”
  • Do Adequate Research: Michael Dean, the Co-Founder of Pool Research , encourages business leaders to “invest time in research, both internal and external (market, finance, legal etc.). Avoid being overly ambitious or presumptive. Instead, keep everything objective, balanced, and accurate.” Your plan needs to stand on its own, and you must have the data to back up any claims or forecasting you make. As Brodsky explains, “Your business needs to be grounded on the realities of the market in your chosen location. Get the most recent data from authoritative sources so that the figures are vetted by experts and are reliable.”
  • Set Clear Goals: Make sure your plan includes clear, time-based goals. “Short-term goals are key to momentum growth and are especially important to identify for new businesses,” advises Dean.
  • Know (and Address) Your Weaknesses: “This awareness sets you up to overcome your weak points much quicker than waiting for them to arise,” shares Dean. Brodsky recommends performing a full SWOT analysis to identify your weaknesses, too. “Your business will fare better with self-knowledge, which will help you better define the mission of your business, as well as the strategies you will choose to achieve your objectives,” he adds.
  • Seek Peer or Mentor Review: “Ask for feedback on your drafts and for areas to improve,” advises Brodsky. “When your mind is filled with dreams for your business, sometimes it is an outsider who can tell you what you’re missing and will save your business from being a product of whimsy.”

Outside of these more practical tips, the language you use is also important and may make or break your business plan.

Shaun Heng, VP of Operations at Coin Market Cap , gives the following advice on the writing, “Your business plan is your sales pitch to an investor. And as with any sales pitch, you need to strike the right tone and hit a few emotional chords. This is a little tricky in a business plan, because you also need to be formal and matter-of-fact. But you can still impress by weaving in descriptive language and saying things in a more elegant way.

“A great way to do this is by expanding your vocabulary, avoiding word repetition, and using business language. Instead of saying that something ‘will bring in as many customers as possible,’ try saying ‘will garner the largest possible market segment.’ Elevate your writing with precise descriptive words and you'll impress even the busiest investor.”

Additionally, Dean recommends that you “stay consistent and concise by keeping your tone and style steady throughout, and your language clear and precise. Include only what is 100 percent necessary.”

Resources for Writing a Business Plan

While a template provides a great outline of what to include in a business plan, a live document or more robust program can provide additional functionality, visibility, and real-time updates. The U.S. Small Business Association also curates resources for writing a business plan.

Additionally, you can use business plan software to house data, attach documentation, and share information with stakeholders. Popular options include LivePlan, Enloop, BizPlanner, PlanGuru, and iPlanner.

How a Business Plan Helps to Grow Your Business

A business plan — both the exercise of creating one and the document — can grow your business by helping you to refine your product, target audience, sales plan, identify opportunities, secure funding, and build new partnerships. 

Outside of these immediate returns, writing a business plan is a useful exercise in that it forces you to research the market, which prompts you to forge your unique value proposition and identify ways to beat the competition. Doing so will also help you build (and keep you accountable to) attainable financial and product milestones. And down the line, it will serve as a welcome guide as hurdles inevitably arise.

Streamline Your Business Planning Activities with Real-Time Work Management in Smartsheet

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

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How to Develop a Strategic Plan for Business Development [Free Template]

Meg Prater (she/her)

Published: May 01, 2023

Business development is usually confused with sales , often overlooked, and only sometimes given the strategic focus it deserves. Having a business development strategy, however, is crucial to long-term success. It ensures that everyone in your company is working toward a common goal.

business development professionals looking over strategic plan

But how do you develop a business development plan? Pull up a chair and stay awhile, I’m diving into that and more below.

3 6 month business plan

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Business development.

Business development is the practice of identifying, attracting, and acquiring new business to further your company’s revenue and growth goals. How you achieve these goals is sometimes referred to as a business development strategy — and it applies to and benefits everyone at your company.

Business Development framework

It’s not unusual to mistake business development with sales, but there’s an important distinction between the two. Business development refers to many activities and functions inside and outside the traditional sales team structure. In some companies, business development is part of the larger sales operations team. In others, it’s part of the marketing team or sits on its own team altogether.

Because business development can look so different among industries and businesses, the strategy behind this function is expansive. Below, we outline each step in the strategy and how to apply it to your business development plan.

Business Development Strategy

  • Understand your competitive landscape.
  • Choose effective KPIs.
  • Develop long-term customer relationships.
  • Implement customer feedback.
  • Keep your website content and user interface fresh.
  • Speed up your response time.
  • Leverage a sales plan to identify areas of growth.
  • Implement a social listening strategy.
  • Sponsor industry organizations, conferences, and events.

1. Understand your competitive landscape.

Before you can develop a strategic plan to drive business growth, you must have a solid understanding of the competitive landscape in your industry. When you know who your ideal customer is and what problem they are looking to solve with your product or service, research who else is providing a viable solution in your industry.

Identify other companies operating in your space. What features do their products have? How competitive is their pricing? Do their systems integrate with other third-party solutions? Get crystal-clear on what the competition is offering so you know how to differentiate your product to your customers.

Featured Resource: 10 Competitive Analysis Templates

10 Competitive Analysis Templates

2. Choose effective KPIs.

How will you know if your business development efforts are successful? Ensure you can measure your goals with relevant, meaningful key performance indicators (KPIs) that reflect the health of your business. The result of these metrics should give you a strong indication of how effective your business development efforts are.

Featured Resource: Sales Metrics Calculator Dashboard

Sales Metrics Calculator Dashboard

3. Develop long-term customer relationships.

Do you engage with your customers even after the deal has been closed? If not, it’s time to develop a plan to keep your buyers engaged. Building long-term relationships with your customers pays off. A grand majority of a company's business comes from repeat customers, and returning customers are cheaper to convert. Indeed, it’s famously known that it costs five times more to convert new customers than it does to sell to returning customers.

Not only are repeat customers easier to sell to, they can also provide valuable feedback and insights to help you improve your business. Additionally, customer testimonials can be used for valuable content that can attract your next buyer.

4. Implement customer feedback.

If and when you have customers who are willing to provide feedback on your sales process and offerings, make sure you hear them out and implement it. Your customers offer a unique, valuable perspective because they chose your product over the competition — their insights can help shape your strategy to keep your business ahead of the curve.

5. Keep your website content and user interface fresh.

When was the last time your company had a website refresh? Can you ensure that all links are working, that your site is easy to navigate, and that it is laid out and intuitive for those who want to buy from you?

Keeping your website up-to-date and easy to use can make or break the sale for customers who know they are ready to buy. Don’t make it too difficult for potential customers to get in touch with you or purchase your product directly (if that suits your business model).

6. Speed up your response time.

How fast your sales team responds to your leads can make or break your ability to close the deal. If you notice your sales process has some lag time that prevents you from responding to prospects as soon as possible, these could be areas to prioritize improvement.

7. Leverage a sales plan to identify areas of growth.

No business development strategy is complete without a sales plan . If you’ve already established a plan, make sure to unify it with your business development efforts. Your plan should outline your target audience, identify potential obstacles, provide a “game plan” for sales reps, outline responsibilities for team members, and define market conditions.

While a sales plan primarily affects your sales team, it can inform the activities of your business development reps. A sales plan can help them understand where the business needs growth — whether it’s in a new vertical, a new audience, or a new need that’s recently come to light in the industry.

Not sure how to create a sales plan? Download the following template to get started.

Featured Resource: Sales Plan Template

Sales Plan Template

8. Implement a social listening strategy.

While social listening is mainly used in a marketing and customer service context, it’s also an essential practice for business development. There are more than 4 billion social media users worldwide. Naturally, social media is one of the best places to hear directly from consumers and businesses — without needing to reach out to them first.

In business development, you can use social listening to track what the general public is saying about your brand, industry, product offerings, product category, and more. It can help you identify key weaknesses in the industry, making it a prime opportunity to be the first to address those pitfalls.

Use a social listening tool to pick up on trends before they gain traction.

9. Sponsor industry organizations, conferences, and events.

A key facet of business development is reaching potential customers where they are. One of the easiest ways to do that is by sponsoring industry organizations, conferences, and events. This strategy will guarantee that your business development reps get valuable face-to-face time with your business’ target audience. The additional visibility can also help establish your business as a leader in the field.

Now that you understand what business development entails, it's time to create a plan to set your strategy in motion.

How to Develop a Strategic Plan

How to Develop a Strategic Plan

When we refer to a business development strategic plan, we’re referring to a roadmap that guides the whole company and requires everyone’s assistance to execute successfully and move your customer through the flywheel . With a plan, you’ll close more deals and quantify success.

Let’s go over the steps you should take to create a strategic plan.

1. Download our strategic plan template .

First, download our free growth strategy template to create a rock-solid strategic plan. With this template, you can map a growth plan for increasing sales, revenue, and customer acquisition rates. You can also create action plans for adding new locations, creating new product lines, and expanding into new regions.

Featured Resource: Strategic Plan Template

Strategic Plan Template

2. Craft your elevator pitch.

What is your company’s mission and how do you explain it to potential clients in 30 seconds or less? Keeping your elevator pitch at the forefront of all strategic planning will remind everyone what you’re working toward and why.

Some people believe the best pitch isn’t a pitch at all , but a story. Others have their favorite types of pitches , from a one-word pitch to a Twitter pitch that forces you to boil down your elevator pitch to just 280 characters.

Find the elevator pitch that works best for your reps, company, and offer, and document it in your business development strategy.

3. Include an executive summary.

You’ll share your strategic plan with executives and maybe even board members, so it’s important they have a high-level overview to skim. Pick the most salient points from your strategic plan and list or summarize them here.

You might already have an executive summary for your company if you’ve written a business proposal or value proposition . Use this as a jumping off point but create one that’s unique to your business development goals and priorities.

Once your executives have read your summary, they should have a pretty good idea of your direction for growing the business — without having to read the rest of your strategy.

3. Set SMART goals.

What are your goals for this strategy? If you don’t know, it will be difficult for your company and team to align behind your plan. So, set SMART goals . Remember, SMART stands for:

Featured Resource: SMART Goal Setting Template

Download the template now.

If one of your goals is for 5% of monthly revenue to come from upsells or cross-sells, make this goal specific by identifying what types of clients you’ll target.

Identify how you’ll measure success. Is success when reps conduct upsell outreach to 30 clients every month, or is it when they successfully upsell a customer and close the deal? To make your goal attainable, ensure everyone on your team understands who is responsible for this goal: in this case, sales or business development reps.

This goal is relevant because it will help your company grow, and likely contributes to larger company-wide goals. To make it time-based, set a timeline for success and action. In this case, your sales team must achieve that 5% upsell/cross-sell number by the end of the quarter.

4. Conduct SWOT analysis.

SWOT is a strategic planning technique used to identify a company’s strengths, weaknesses, opportunities, and threats.

Before conducting a SWOT, identify what your goal is. For example, “We’d like to use SWOT to learn how best to conduct outreach to prospective buyers.”

Once you’ve identified what you’re working toward, conduct market research by talking with your staff, business partners, and customers.

Next, identify your business’ strengths. Perhaps you have low employee turnover, a central location that makes it easy to visit with prospects in person, or an in-demand feature your competitors haven’t been able to mimic.

Featured Resource: Market Research Kit with SWOT Analysis Template

Market Research Kit with SWOT Analysis Template

Your business’ weaknesses are next. Has your product recently glitched? Have you been unable to successfully build out a customer service team that can meet the demands of your customers?

Then, switch to opportunities. For example, have you made a new business partnership that will transition you into a previously untapped market segment?

What are the threats? Is your physical space getting crowded? What about your market space? Is increasing competition an issue?

Use SWOT results to identify a better way forward for your company.

5. Determine how you’ll measure success.

You’ve identified strengths and weaknesses and set SMART goals , but how will you measure it all ? It’s important for your team to know just how they will be measured, goaled, and rewarded. Common key performance indicators (KPIs) for business development include:

  • Company growth
  • Lead conversion rate
  • Leads generated per month
  • Client satisfaction
  • Pipeline value

6. Set a budget.

What will your budget be for achieving your goals? Review financial documents, historical budgets, and operational estimates to set a budget that’s realistic.

Once you have a “draft” budget, check it against other businesses in your industry and region to make sure you’re not overlooking or misjudging any numbers. Don’t forget to factor in payroll, facilities costs, insurance, and other operational line items that tend to add up.

7. Identify your target customer.

Who will your business development team pursue? Your target market is the group of customers your product/service was built for. For example, if you sell a suite of products for facilities teams at enterprise-level companies, your target market might be facilities or janitorial coordinators at companies with 1000+ employees. To identify your target market:

  • Analyze your product or service
  • Check out the competition
  • Choose criteria to segment by
  • Perform research

Your target customer is the person most likely to buy your product. Do your homework and make sure your business development plan addresses the right people. Only then will you be able to grow your business.

8. Choose an outreach strategy.

What tactics will you use to attract new business for your sales team to close? You might focus on a single tactic or a blend of a few. Once you know who your target market is and where they “hang out,” then you can choose an appropriate outreach strategy.

Will your business development plan rely heavily on thought leadership such as speaking at or attending conferences? Will you host a local meetup for others in your industry? Or will your reps network heavily on LinkedIn and social media?

If referrals will be pivotal to your business’ growth, consider at which stage of the buying process your BDRs will ask for referrals. Will you ask for a referral even if a prospect decides they like your product/service but aren’t a good fit? Or will you wait until a customer has been using your solution for a few months? Define these parameters in your strategy.

Upselling and Cross-Selling

Upselling and cross-selling are a cost-effective way of growing your business. But it’s important that this tactic is used with guardrails. Only upsell clients on features that will benefit them as well as your bottom line. Don’t bloat client accounts with features or services they really don’t need — that’s when turnover and churn start to happen.

Sponsorship and Advertising

Will your BDR work with or be on the marketing team to develop paid advertising campaigns? If so, how will your BDRs support these campaigns? And which channels will your strategy include? If you sell a product, you might want to feature heavily on Instagram or Facebook. If you’re selling a SaaS platform, LinkedIn or Twitter might be more appropriate.

What’s your outreach strategy? Will your BDRs be held to a quota to make 25 calls a week and send 15 emails? Will your outreach strategy be inbound , outbound , or a healthy combination of both? Identify the outreach guardrails that best match your company values for doing business.

Strategic Plan Example

Let’s put all of these moving parts in action with a strategic plan example featuring good ol’ Dunder Mifflin Paper Company.

Strategic Plan Example

Elevator Pitch Example for Strategic Plan

Dunder Mifflin is a local paper company dedicated to providing excellent customer support and the paper your business needs to excel today and grow tomorrow.

Here are some additional resources for inspiration:

  • Elevator Pitch Examples to Inspire Your Own
  • Components of an Elevator Pitch

Executive Summary Example for Strategic Plan

At Dunder Mifflin, our strengths are our customer service, speed of delivery, and our local appeal. Our weakness is that our sales cycle is too long.

To shorten the sales cycle 5% by the end of Q4, we need to ask for more referrals (which already enjoy a 15% faster sales cycle), sponsor local professional events, and outreach to big box store customers who suffer from poor customer support and are more likely to exit their contract. These tactics should allow us to meet our goal in the agreed-upon timeline.

  • How to Write an Incredibly Well-Written Executive Summary [+ Example]
  • Executive Summary Template

SMART Goals Example for Strategic Plan

Dunder Mifflin’s goal is to decrease our sales cycle 5% by the end of Q4. We will do this by more proactively scheduling follow-up meetings, sourcing more qualified, ready-to-buy leads, and asking for 25% more referrals (which have a 15% shorter sales cycle already). We will measure success by looking at the sales pipeline and calculating the average length of time it takes a prospect to become closed won or closed lost.

  • 5 Dos and Don'ts When Making a SMART Goal [Examples]
  • How to Write a SMART Goal
  • SMART Marketing Goals Template

SWOT Analysis Example for Strategic Plan

Strengths: Our strengths are our reputation in the greater Scranton area, our customer service team (led by Kelly Kapoor), and our warehouse team, who ship same-day reams to our customers — something the big box stores cannot offer.

Weaknesses: Our greatest weakness is that our sales team has been unable to successfully counter prospects who choose big box stores for their paper supply. This results in a longer-than-average sales cycle, which costs money and time.

Opportunities: Our greatest business opportunity is to conduct better-targeted outreach to prospects who are ready to buy, ask for more referrals from existing customers, and follow up with closed lost business that’s likely coming up on the end of an annual contract with a big box store.

Threats: Our biggest threat is large box stores offering lower prices to our prospects and customers and a sales cycle that is too long, resulting in low revenue and slow growth.

  • How to Conduct Competitive Analysis
  • How to Run a SWOT Analysis for Your Business [+ Template]
  • SWOT Analysis Template and Market Research Kit

Measurement of Success Example for Strategic Plan

We will measure success by looking at the sales pipeline and calculating the average length of time it takes a prospect to become closed won or closed lost.

Budget Example for Strategic Plan

You've laid out the SMART goals and the way you'll measure for success. The budget section's goal is to estimate how much investment it will take to achieve those goals. This will likely end up being a big-picture overview, broken down into a budget by a program or a summary of key investments. Consider laying it out in a table format like so:

Budget Example for Strategic Plan

  • Budgeting Templates
  • How to Write an Incredible Startup Marketing Budget

Target Customer Example for Strategic Plan

Our target customer is office managers at small- to medium-sized companies in the greater Scranton, PA area. They are buying paper for the entire office, primarily for use in office printers, custom letterhead, fax machines. They are busy managing the office and value good customer service and a fast solution for their paper needs.

  • How to Create Detailed Buyer Personas for Your Business
  • Make My Persona Tool

Outreach Strategy Example for Strategic Plan

Networking, sponsorships, and referrals will be our primary mode of outreach. We will focus on networking at regional paper conferences, HR conferences, and local office manager meetups. We will sponsor local professional events. And we will increase the volume of referrals we request from existing customers.

Create a Strategic Plan for Business Development

Without a strategic plan, you can invest resources, time, and funds into business development initiatives that won't grow your business. A strategic plan is crucial as it aligns your business development and sales teams. With a solid business development strategic plan, everyone will be working toward the greater good of your company.

Editor's note: This post was originally published in January 2020 and has been updated for comprehensiveness.

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How To Craft A 5-Step Business Plan For Next 3 Months

How To Craft A 5-Step Business Plan For Next 3 Months

Planning your business growth for the next 3 months will help you make progress much faster than taking things on a day-to-day ad-hoc basis. In this podcast, I'm going to walk through a simple 3 months business planning exercise you give you better clarity on your next action steps.

If this podcast inspired you, please drop a 5-star review on Apple or Spotify .

What you will learn in this podcast?

siddharth rajsekar

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Sidz is a college drop-out, "musician turned digital geek", a spiritually grounded minimalist, father of 2, and husband of a loving wife. He founded the Internet Lifestyle Hub in 2018 to fix the education and employment system for good. Currently, he is helping over 20,000+ coaches, teachers, and experts digitize their knowledge. He’s an international best-selling author of the book You Can Coach and is on a mission to help 1,000,000 people live a lifestyle of freedom!

72 replies to "How To Craft A 5-Step Business Plan For Next 3 Months"

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Thanks Sidz for sharing this.

My learning’s 1. Revenue goal- How much income you need and allocate expenses for home, recurring expense etc 2. Monthly theme – One month focus on content , one month for creating courses, tribe building, list out top 3 themes for next 3 months. 3. Define what are the top 5 actions you need to take for those themes. Total 15 actions. 4. Get clear on your weekly focus. ( For each month) Total 12 slots for actions 5. Get to work- Remove all distractions . Remove social media apps. Say no to other projects , say no to the people who are not aligned. Put your phone on airplane mode and work on the task for 90 min

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Thanks Sushil!

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Got New Quarter’s New Clarity for the Mission Crore Club

Awesome, more power to you!

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Thankyou so Much sir for Imparting such a wonderful knowledge in a simple way.

You’re welcome Khem!

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“How To Craft A 5-Step Business Plan For Next 3 Months”

1). Have to Clear Revenue Goal for next 3 Months – Have a practical numbers for revenue goal for the next 3 months, also have a rough calculation of expenses for 3 months.

2). Need to be Clear on Monthly Theme – Like one month you can focus on Systems, Next month on Teams, Third Month on Content. Similarly you can divide your months on creating courses, improving sales process, automating the systems, Tribe Building, Launching New Ad Campaign, Launching New Ad Traffic Source, etc.

3). Define Top 5 Actions you have to take for each of the Themes (Important Step) – Define top 5 actions for each of your themes for which you have decided to focus on every month. For 3 Months you need to have 15 Actions (5 Actions per Themes for 3 Months).

4). Divide Top 5 Actions in week – Like Month 1, Week 1 – You have to do X Action, Month 1, Week 2 – Y Action, etc. Make a plan the same way for next 3 Months.

5). Get to Work, Remove All Distractions – a. Remove all Social Media Apps from your phone, b. Say “No” to all other Projects which are not aligned to your Goals, c. Say “No” to all the People who are not aligned to your Goals d. Stay Away from the People who suck your Energy and you don’t feel good to be with (Bottom Feeders) e. Start Working in Chunks of 90 Minutes Everyday (If you have to do some task, put your phone in Aeroplane Mode, Block out 90 Minutes, Get Stuff Done)

#ilhdeeplearner #ilhfamily

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Thanks for these detailed Notes.

Super stuff Neeraj!

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🔥🔥🔥how to plan 5 step new business for next quarter 🔥🔥🔥

Its all about the simplicity …and planning what’s more important things right now ….

1⃣Get clear on your revenue goal from your business …. And be clear about money alocation….. Clear in flow the outflow …. For me its 300000 in three months (I have to earn this 300000 for getting into diamond membership and .paying back education loan)

2⃣Decide monthly theme….. Focus on content …. Tribe building … Launching new ads … Write down top three theme for next three month …. For me it next 5 days for mindmap… Live video content … 5 day or 11 days WhatsApp class… Webinar ….

3⃣ Action focus . write down top 5 action for each theme …. Some action are .. Exploring xmind mindmap software already made my first mindmap…. Setting up basic hardware … Practicing doing class in laptop with pentab… Learn to Create reels and long form content …. Learning paid ads art … Learning to wakeup early😃😃 ….

4⃣ Weekly Action Focus …. Weekly action … For this 5 days create at least 15 more mindmap …..

5⃣ Get to work ….. Remove all distraction …. Say no to all those people who are not align to your goal …. Get stuff done within 90 minutes…..

SIDZ ACTUALLY I AM REMOVING MY DISTARCTION BY CHOOSING TO LISTEN TO YOUR AUDIO … AND CHOOSE TO IMPLEMENT NEW THINGS EVERYDAY …. AS I CREATED MY FIRST CALENDLY LINK TODAY AND INTEGRATED IT WITH ZOOM ….

THESE ARE MY SMALL WINS…

m grateful …

#ilhdeeplearner #ilhfamily #youcancoach

Nice one Meenu. Btw how do you insert those “numbers in the block” inside the comment section?

As I do type comments from my phone …. These are available in emoji section …. You know lots of section are there starting from smile …before flag section you can find these number … Connect with me over mighty network I will show you ….

Thanks, Meenu. I got it.

Thanks Meenu!

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Plan a 3 month expense/income

Run a theme for the business for each month, which is a focus area for your business.

Think what are the top 5 todo for each monthly theme

Slot your action for each week of the 5 todo’s

How does it help? You gain clarity for the quarter.

Avoid bottom feeders and time eating activities during this time.

Work in 90 min chunks.

Super! I hope you’ve got all your numbers in place!

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Thank you so much Siddharth, I am really bow down infront of you .It gives me a pure idea of how to Structure the business in coming next Quarter -July, August, September 2022 As mentioned as being an Entrepreneur everyday I am doing lots of struggling and juggling with Clients tantrums.

The Plan of my business at Next Quarter-

Simplicity and Clarity. 5 Steps which I crafted after listening your podcast

1.Clear of Revenue Goal How much Income I will generate within the coming 3 months- Expenses – Outflow and Inflow

Income – Rs 3 lakhs per months Expense – Rs 1.5 Lakhs per month

2. Monthly Theme System 1st Month- Focus on Creating Curriculum, Building Team,Creating Videos , Doing lots of R and D.

2nd Month- Creating Web Page , Creating Landing Page , Focus on Email Marketing, Launching New page or Traffic Source to Generate Organic Leads , Start collecting 100 Questions and take a Challenge to complete 50 Videos and 10 Podcasts, Rand D is must must for my growth.

3rd Month- Webselling , Content remodeling if anything require upload in Teachable and Automate the Business. R and D is always there for my Upgrade.

3. Regular Activities-

– 5 Types of Actions

Month 1 – focus on Curriculum – Taking lots of notes 📝 from ILH School – Implementing on my Curriculum – I will work on technical aspects like the Tools too – Focus on Budget of the business to grow

2nd Month – Focus on learning to build Web Page – Focus on learning to building Landing Page -Focus on Creating Groups in Social Media – focus to learn how to create FB Ads ,and Ads in other Social media. – Will work on Instagram Reels to promote the business – Focus on preparing budget as well.

3rd Month- – Focus on Budget – Focus to become more Technical – To upload my Course in Teachable – learn to do Automation – Focus on Business Growth of Enterprenuers by conducting Webinars .

4 . Weekly Focus

1 month – 1- Week Rand D 2- Implement on Curriculum 3- Week Focus on Curriculum Building 4- Curriculum and Rand D and will work on Technical Tools as well

2nd Month – 1 st Week – will work on Building Teams ; Website Building and Landing Page. 2nd Week – Making Videos and will start collecting 100 questions 3rd Week and 4th Week – Will practice providing Webinar to close groups – Collecting Testimonials and Feedback and any changes require will work on it.

3rd Month – 1st Week and 2nd week – Trial – Delegating some technical work to the Professionals.Any changes RAnd D Learning will be there 3rd and 4th Week – – Upload the Course in Teachable and will focus on Automation of the Whole System, Business Meet and focus on reaching Hall of Fame .

5.Get to work – Avoiding Distraction , keeping myself away from people who add no values to my Curriculum. 90 mins daily I will focus on my Studies and Upgrading my goals

#ilhdeeplearner

very detailed notes. This helps a lot to many. Thanks for this.

Excellent Debasmita!

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Thank you Siddharth. This Podcast really help me to have a clarity towards achieving goal. It is really an honor to share with everyone. Thanks Samir as well for the encouragement. MPTY.

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5 step Business Plan for next 3 months -Plan in advance and focus -Set quarterly goals -Get Inflow and outflow clarity for next 3 months -Define top 5 actions for those 3 themes. -Deside weekly actions for a month. -Form 12 different weekly slots -Clarity gives you power. – Move all distractions. Say no to ideas, people who don’t align with your goals. – start working on your plan.

To the point notes. keep doing.

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Step 1: Clear on Your Income Goal. It should be practical and realistic.

Set Income Goal for 3 months Work on Expense for 3 months

Step 2: Clear on Your Monthly Theme. Systematically focus on content, marketing (Ads on Social Media), sales webinars for specific months for that particular quarter.

Step 3: Top actions to be taken for above 2 steps. Top 5 actions.

Work on more webinars… Create and Launch L3 Course for up-selling

Step 4: Weekly Focus.

Month 1 W1, W2 W3, W4

Month 2 W1, W2 W3, W4

Month 3 W1, W2 W3, W4

Step 5: Declutter Yourself with all distraction. Work in 90 mins chunk.

Keep your action and income goals in mind and be realistic to attain the target you set for this quarter from July to Sept.’22.

Awesome Sidz. Amazingly fantastic and crisp knowledge bullet. Very informative and practical. Kudos to your teaching methodology.

Very good Dr.Vishwas!

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#ilhdeeplearner #ilhfamily Crafting a 5_step business plan for next 3 months Simplicity n clarity_what’s next ? With this i hv built a multi_ million dollar business with only 3 employees and no office 1. Clear on revenue goal for next 3_months Also clear with expenses for nxt 3 mnths 2.clear on monthly themes 1 mnth_systems 1mnth_teams n processes 1mnth__content 3.most important_top 5 actions for these themes 4.get clear on your weekly focus Mnth 1 _ wk 1 , wk 2 ,wk 3 , wk 4 Clarity gives you power and conviction to move forward Step 5 _ get to work Delete all social media apps Say no to all things and negative people not aligned with your goal Work in chunk of 90 mts Upgrade to Diamond membership Real action happening there !

Nice one Vikram.

Very good Vikram!

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Loved doing the 5 steps. Even a 10-minute podcast is filled with lots of action-taking. Love that.

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#ILHDeeplerner: Plan your business in 5 steps for 3 month. simplicity and clarity is the main aspect. step-1 Revenue goal _As how much income do you need in 3month like July~Sept’22. Monthly theme _ In knowledge business, your monthly theme for next three month.Q2. step 3 _what are the top 5 theme for next 3 month. step4_ get clear in your weekly theme split action plane if you have done above next quarte is going to be superb. Step 5_ last step get to work. delete all the social media files .say no to every thing and focus on your goal and task. above is power of steps

Excellent Praful!

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how to plan 5 step new business for next quarter

Its all about the simplicity and planning

1. Get clear on your revenue goal for next 3 months

2. Monthly theme – – Focus on contents – Improving sales process – Tribe building – Focus on System – Tweaking the team and processes – Creating new courses – Launching new ad campaign – Launching new traffic source Choose top 3 themes for major focus

3. Top 5 actions to for each of these themes

* contents – Research, read & write contents on verious social media channels * Improving sales process – study on organic & inorganic leads creation, visibility, and customer engagement * Tribe building – New Collaboration and Customer engagement, one to one, webinars

4. Time Slot weekly – M1W1 – Research, read & write contents, customer engagement M1W2 – Research, read & write contents, customer engagement M1W3 – Research, read & write contents, customer engagement M1W4 – Research, read & write contents, customer engagement

M2W1 – write contents, study on organic & inorganic leads creation, visibility, and customer engagement M2W2 – write contents, study on organic & inorganic leads creation, visibility, and customer engagement M2W3 – write contents, Leads generation, visibility, and customer engagement M2W4 – write contents, Leads generation, visibility, and customer engagement

M3W1 – write contents, Leads generation, visibility, and customer engagement M3W2 – write contents, Leads generation, visibility, and customer engagement M3W3 – New Collaboration and Customer engagement, one to one, webinars M3W4- New Collaboration and Customer engagement, one to one, webinars

5. Get to work, remove all distractions – say no to projects, peoples not aligned to goal Start working chunks of 90 min everyday complete one task and move to the next task

Many Thanks.

Great Notes and super valuable for reference. Keep posting Vinod. Thanks

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I love my mentor and super mentor. I want to surround myself with them. That is a burning desire, and I want their plain action plan for all time to come. And when I spend time with them, I want their meditative best. And today is one such day. But of course I love when they elaborate with lot of insights. Here is my financial goal for -July, August, September 2022

Rs. 1.5 lac per month. this means I shall be HOF by the September 2022 or before. I love the synchronicity of dates, my intention and the amount. I am already spending on tools.

1. My intention right now – to serve and serve and serve my customers with the pain.

I love my clients. They want something very specific, and something they usually not finding solution to. No example, no youtube, no amount of mindset building is solving their problem. The problem of growth. So that is my golden opportunity. I intuitively know how they can reach from point a to point B..

And they will be my repeat customers.

So I need to have fewer customers with the result so that the next stream of customers will be automatic.

2. Already paying for the tools. And as soon as I have 30 customers, I can run FB Ads. Start with Rs. 5000- 10000 per month. That will create 100-200 extra leads. at 10% success rate, 10 people will buy my Rs.5999 /- deal. That makes it Rs. 59,990/- about 5X of Revenue.

July – 10 sales of Rs. 5999/- offer

3. Monthly Theme System 1st Month- Offer package for Rs.5999/- conceptual, Rs. 9999/- for Resume, 5 cover letters,PPT and pictch-deck for them update the time management ebook

Complete 1 Mindset challenge, Landing page design 25 videos- 25 podcasts 20 Insta reels Recreate the mindset ebook

2nd Month- Message planning for 1-1 call (Taking help of the 100 questions) Career growth path. Zeroing down for the desired career Rs. 19,999/- 1000 competency stories – completing the 1000 slides. upload in teachable. Rs.1.5 lac for helping them with the stories. 25 videos-25 podcasts 20 insta reels/posts 1 customer 1.5 lac. 20 customers for Rs. 5999/-

3rd Month- Rigorous marketing. 3 customer/month for $2000. 20 customers for Rs. 5999/-

– 5 Types of Actions Regular sales Rs.199 – 50 25 videos-25 podcasts 20 insta reels/posts More frameworks with smaller offers Regular challenges ( 3 mindset challenges in 3 months)

4 . Weekly Focus Videos – Thumbnails , & podcast LinkedIn Articles Reels 1-1 calls Offer creation

5.Get to work – No distraction. Attending hackathons, Coach calls, regular reading, updating content

Very detailed notes, Sangeeta. Thanks for sharing this. This is helpful to be used as a reference.

Excellent Sangeeta!! truly an honour to have you in our community! MPTY

— How to Craft a 5 step Business plan for next 3 months —

#ILHDEEPLEARNER

Be Clear with your revenue goal How much income do you need to achive for your business (In Flow) Your expenses (Out Flow) List down the regular activities for the next three months that you are going to focus (Monthly theme) Define what are the top 5 actions that you are going to take for each of these themes Get clear on your weekly focus for each month Get to work Remove all distractions Remove all spcial media apps from your phone Say no to all other projects that are do not allign with your goal Say no to all the people who are not allign with your goal Start working in a chunk of 90 minutes

Very good Samir! Thanks for contributing to this thread daily!

Thanks, Siddharth for such valuable topics every day which makes me addicted to listening and grabbing the knowledge from every single topic.

— How to Craft a 5 step Business plan for the next 3 months —

– Be Clear with your revenue goal –How much income do you need to achieve for your business (In Flow) –Your expenses (Out Flow) -List down the regular activities for the next three months that you are going to focus on (Monthly theme) -Define what are the top 5 actions that you are going to take for each of these themes -Get clear on your weekly focus for each month -Get to work –Remove all distractions –Remove all special media apps from your phone –Say no to all other projects that are do not align with your goal –Say no to all the people who are not align with your goal –Start working in a chunk of 90 minutes

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My Deep Learnings from the podcast – How to craft a 5 step business plan for next 3 Months ?

#ILHDEEPLEARNING #ILHFAMILY

I am really grateful to Sidz for giving this clear cut point shooter style information.These are like golden nugets for me.Here is what I learnt deeply 👇

Only Focus on the important things.

Step-1 clear on your revenue goal get clear on your expenses how much money want to earn in next 3 month. Total revenue goal -1,50,000 rupees Total expenses -75,000 rupees

Step-2 Get clear on your monthly theme month-1 theme -content marketing month-2 theme-self-free webinars & community building month -3theme -Course creation &sales.

Step-3 Define what are the top five actions you got to take.

1.English speaking practice 2.one speech every single day 3.work on YouTube videos 4.work.on your webinars.structuring 5.Work on your community building

Step-4 Get clear on your weekly focus

each month has four weeks like month 1 week(1,2,3,4)

Like my month number 1 and theme number 1 is content marketing so in the first month there are 4 weeks and each week I have to work on my content marketing skill and so on for the other months and themes.

Clarity gives you the power it’s you the conviction to move forward most entrepreneurs their struggling because they don’t know what to do. They just like everyday they wake up and think about what to do for today I have no plan

And the final step is here

Step-5 Remove all distractions delete all social media apps. Say no to all the projects that do not aligned with my revenue goals. say no to all these people who are not aligning with my goals.

There are some people with whom I don’t feel good .They just suck out my energy .I have to stay away from them for atleast next 3 months. I will block out 90 minutes and put my phone aeroplane mode and get one task done then move to the next.

That’s how I can hit my revenue goals with much more clarity.btw i am a silver member aspiring to be Diamond.

Thank you so much Sidz for giving me unbelievable clarity in my life.Thank you so much.

#ILHDEEPLEARNER #ILHFAMILY

I AM A DEEP LEARNER. MAHESH PRADHAN

Amazing Mahesh!

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5 steps business plans for next 3 months. 1)Clear on revenue goal- Clear on inflow and outflow of expenses. Fix the figures of income and expenses for next 3 months. 2) Monthly Theme – Focus on different activities what you have to do in each month. Eg. FOCUS ON System, Creating new courses, Content,Teaching team new processes, Tribe building, creating new ad campaigns, New YouTube ads. 3)Define what top 5 action to be taken. PPT, New platform for the team to be launched, Design team to do the designing work, etc to take action. 4) Slot down in the weekly basis- Top 5 action you slot down. One month -1 week,2nd month 1week, 3rd month 1 week and so on divide action into 12 weeks. 5) Get to work – Say no to all you are not align with the goal. Start working 90 min chunk then move to the next plan. Upgrade yourself. Thank you Sir.

Excellent Trupti!

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Thank you Sidz Sir for your wonderful podcast, “5-Steps Business Plan for Next Three Months” which you have summarized in a beautiful manner as under :

1. Clear on your revenue and expenses for the next three months

2. Clear on your monthly themes, one month on systems, one month on team development and next month for content development .

3. Define the five steps one need to take for each of the above themes, 5 actions per themes for 3 months

4. Divide your action in weeks M-1 , W-1, W-2 , W-3, and W-4 M-2, W-1, W-2, W-3, and W-4 M-3 , W-1 W-2 , W-3 and W-4

5. Focus on work and and be away from all destructions like ; removing all social media apps from your system, say no to all other projects and focus on your theme , say no to people who are not aligned to your goals , stay away from people who such away all your energy . Start working every day for at least 90 minutes . Really it is a great challenge to follow these five steps . If followed properly may bring desired fruits in time to come.

Perfect Ramesh! More power to you…

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Simple 5 steps to build business for the next months.. Simplicity and clarification for the business Step 1 need to clear revenue Goals ( July, August and September)

Plan for How much Income do you need from business Inflow and outflow of the cash.. Plan for the next 3months income and expenses.. Step2: Theme for the months Step 3: Define what are the top 5 actions that you got to take on the theme.. Step :4 put the actions into week Plan as Month1 week1 action Month 1 week 2 action Month1 week3 action Month1 week3 action …and so till August schedule the months..(12weeks)

Step5 Get to work and remove all distractions.. Say no to people Say no to what is irrelevant Start working in chunks 90mins everyday

Work on planned weeks and execute it.. I have done designing and planning as guided by you Sir

pause and plan

This is really worth planning to execute the plannings and working on it with complete mindset ..

Wants to upgrade for the Diamond membership…..

Thank you Cheers Shanthi Mangilal #ilhdeeplearner

Thanks for sharing Shanti!!

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How To Craft A 5-Step Business Plan For Next 3 Months Prioritize things on a monthly and weekly basis What are the essential elements that you need 1) Get clear on revenue goals Total Income-3 Months Total Expense-3 Months 2) Get Clear on the Monthly theme 1st Monthly Theme-Focus on Content Creation 2nd Monthly Theme- Focus on System 3rd Monthly Theme- Focus on Sales and Process automating 3)Define the Top 5 Action 1st Month Theme-Focus on Content Creation- 5 Action 2nd Month Theme-Focus on System- 5 Action 3rd Month Theme- Focus on Sales and Process automating-5 Action 4) Get Clear on Weekly Focus 1st Month Week 1 2nd Month Week 1 3rd Month Week 1 Week 2 Week 2 Week 2 Week 3 Week 3 Week 3 Week 4 Week 4 Week 4 5)Get to work Remove all distraction Delete all social media app on phone Say no to all other projects that do not align with your goals with the revenue goals Say no to a;; those people who do not align with goals Start working in 90 min Everday if you have to complete one task jsut block out 90min put your phone on aeroplane mode and just get stuff done in 90min. Work on the plan. Thank you 🙏Siddharth these day to day adhoc podcast are giving me so much clarity and focus. #ILHDeeplerner

Superb notes taken Vijay!

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Wow Sidz!!! Super podcast. As a beginner in your course, its just the dose needed. It has brought super clarity for the next three months.

My notes for today:

Step 1: Estimating Your Income and Expenses for Next 3 Months Income for Three Months | Expenses of Three Months

Step 2 : Top Three Themes per month 1. Course Building 2. Systems Building 3. Ad Campaigns

Step 3 : Top 5 Actions that You need to Take for these themes Month 1: (Course Building) 1) Deciding the Courses 2) Naming the Course 3) Categorizing them into Level 1, Level 2 and Level 3 4) Recording the Courses 5) Finalizing the pricing

Month 2: (Systems Setup) 1) Finalizing the Website 2) LMS 3) Setting up the Community 4) Email Marketing System 5) Managing Traffic System

Month 3: (Ad Campaigns) 1. Creating Ads for different platforms[YouTube, LinkedIn, Twitter, Facebook, Instagram] 2. Setting up the funnels on each of these platforms 3. Setting Ads Budgets 4. Rehearsing Webinars 5. Launching Webinar Selling

Step 4: Weekly Targets Month 1: Week 1: Point 1 to 3 Week 2 to 4 : Point 4 Week 4 : Point 5

Month 2: Week 1 & 2: Finalizing the Website Week 2 & 3 : Point 2 and 3 Week 4: Point 4 and Point 5

Month 3: Week 1: Point 1 to 3 Week 2 & 3: Point 4 Week 5 : Point 5

Points to Remember: 1) Delete all social media apps from your phone 2) Disconnect with all activities that don’t align with your goal 3) Disconnect with all those people who don’t align with your goal 4) Start working in chunks of 90 minutes

Excellent Kapeel! I love your commitment towards the learning here…

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5 Step Business Plan

“Tell me and I forget, teach me and I may remember, involve me and I learn.” Benjamin Franklin

Revenue Goal – Quarter (July, August, September)

1. Income – Rs 500000/- 2. Expenses – Rs200000/-

Monthly Theme – Activities

July – Content (Blog, Video, Podcast) | Facebook Live | Outcome – FB Group 500 Members

August – Webinar | Conversions | Email List | Email Nurturing | Outcome – Email List 5000 Subscribers, 12 Conversions per week

September – Inner Circle – 80-100 Members | Understanding Audience | 121 Calls | Outcome – 60 to 100 – 121Calls

Top 5 Actions to be taken for the themes 1. Create Content (Blog, Video & Podcast) 2. Promote Content 3. Go Facebook Live 4. Get few Participants for a 30 day challenge 5. Get Testimonials 6. Running Facebook Ads, Using Google Ads for Traffic to Website 7. Start Doing Webinars – 12 conversions per webinar (12 x 4999 = 59988) x 8 webinars = 8 x 59988 = 479904 Revenue 8. Grow Email List 9. 4 week Email Course for Nurturing 10. Sending One Email per week – VVP 11. Showing up with guests on Facebook Live 12. Getting on to 121 calls 13. Understanding the audience 14. Improving the Course Curriculum 15. Get questions from Inner Circle

Get Clear on Weekly Focus

M1W1 – Content M1W2 – FB Live M1W3 – 30 Day Challenge M1W4 – FB Ads M2W1 – Webinar M2W2 – Conversions M2W3 – Email Course M2W4 – Testimonials M3W1 – 121 Calls M3W2 – Conversions M3W3 – Conversions M3W4 – Testimonials

Get to Work

This exercise is Crazy, Simple, and Mind-Blowing

#ilhfamily #ilhdeeplearner

Superb Santosh!! I’m sure you will break through and achieve these goals!

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#ilh deeplearner

1)revenue goal (income, expense and inflow and outflow) 2)monthly theme (top theme for each month, here atleast for 3) 3)define top actions for each of these themes (15 action plan (5*3)) 4) get clear on weekly focus (4 weeks in a month) 5) get to work (say no to all projects, people not aligned with your goal and work in chunks that is 90 minute then move to next step(

Thanks Reema. Keep coming back for more…

Hi Reema, perfect! the key is to keep learning through the journey, these are great insights 🙂

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💥 How to Craft a 5 Step Business Plan for Next 3 Months

👉 Plan Income & Expense flow for next three months

(Marketing, Operation, General etc)

👉 Plan Theme for the next three months beside regular activity

Go deep for a Month on one Topic each Month & shuffle for next three Months

(Systems, Team Building, Creating Content, Creating new Course, Improve Sales Process, Automation, Launch New Ads, Tribe building, New Traffic Source)

👉 Curate Top 5 specific actions to complete each monthly theme task (15 task make list)

👉 Get Clear on weekly Focus Split all above 5 task in small result oriented activities

👉 Remove all distraction & get to work

⚡️Say no to all who are not align to this goal No to people ❌ No to projects ❌

💡Create a chunk of 90 Minutes & Complete 1 major task of the day. During this put your phone on Aeroplane mode⚡️

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Thanks Sidz for giving us this plan. Here is my take aways with my plan.

5 steps business plan Next 3 months 1) Clarity on Revenue – Income n Expenses Income 100K/month Expense 30K/month 2) Monthly themes July – FB Ads August – One on One Consultation September – Community 3) Top 5 actions for each theme ▫️FB Ads 1) Create Audiences 2) Catchy one min. video Ad 3) Post knowledge base videos on BPA on my FB Community Group 4) Check performance of my ads 5) Take feedback on ads from new joinees

▫️One on One Consultation 1) Collect background info of prospects 2) Prepare questionnaire 3) Do BPA Assessment 4) Provide solution through email 5) Take follow up

4) Weekly focus July W1 – FB Ad contents W2 – FB Ad videos W3 – BPA Knowledge base videos W4 – BPA Knowledge base videos August W1 – Consultation pitch W2 – BPA Consultation video W3 – BPA Assessment W4 – Send reports with solutions

September W1 – Free Master Class for community W2 – Create challenge for community W3 – Rewards to achievers W4 – Approach for 2nd level

5) Get on work – 90 mins. with no Destraction

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Thanks Sir for showering your precious knowledge with us.

My Learnings From This Podcast-

Steps 1- Get Clear On Your Revenue Goal- In the next 3 months how much income do you need to bring in your business. Have your inflow and outflow clear.

Step 2- Get Clear On Your Monthly Theme- Decide on what is the theme of the month for example creating new courses, improving the sales process, automating your systems, tribe building etc. List down top 3 themes for each month for the next 3 months.

Step 3- Define what are the top 5 actions that you got to take for each of those months.

Step 4- Get clear on your weekly focus (For each month). Total 12 slots for actions.

Step 5- Get to work, remove all distractions, delete all social media apps from your phones and say no to all other projects and people that do not align with your goals. Start working in chunks of 90 minutes.

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This five plan for next three is more of practical approach which will definately give track to travel smoothly. Now implementation is driving point and i will drive through. Thank for insights.

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“How To Craft A 5-Step Business Plan For Next 3 Months”

1). Have to Clear Revenue Goal for next 3 Months – Have a practical numbers for revenue goal for the next 3 months, also have a rough calculation of expenses for 3 months.

2). Need to be Clear on Monthly Theme – Like one month you can focus on Systems, Next month on Teams, Third Month on Content. Similarly you can divide your months on creating courses, improving sales process, automating the systems, Tribe Building, Launching New Ad Campaign, Launching New Ad Traffic Source, etc.

3). Define Top 5 Actions you have to take for each of the Themes (Important Step) – Define top 5 actions for each of your themes for which you have decided to focus on every month. For 3 Months you need to have 15 Actions (5 Actions per Themes for 3 Months).

4). Divide Top 5 Actions in week – Like Month 1, Week 1 – You have to do X Action, Month 1, Week 2 – Y Action, etc. Make a plan the same way for next 3 Months.

5). Get to Work, Remove All Distractions – a. Remove all Social Media Apps from your phone, b. Say “No” to all other Projects which are not aligned to your Goals, c. Say “No” to all the People who are not aligned to your Goals d. Stay Away from the People who suck your Energy and you don’t feel good to be with (Bottom Feeders) e. Start Working in Chunks of 90 Minutes Everyday (If you have to do some task, put your phone in Aeroplane Mode, Block out 90 Minutes, Get Stuff Done)

Good takeaways!

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Pure clarity from your end regarding the 3 months Action plan, Implimentaion is from my end. Thank you sid.

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will have to write my revenue goals again & look at them everyday. And yes planning everyday with high productive tasks is important. Distractions are to be minimized specially social media.

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1month : 5 actions -) – Do reels – Create contents – do research of target market – post regularly – take review 2month – launch pdf – create leads – start selling – landing page – growth of self 3month – do 121 session – start podcasting – make YouTube videos – collabs – automate tools

Good points!

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That was a great time management tool. 1. Have started spending on tools. 2. Following Sid’s hackathon to the T. Want to be the freedom finisher. 3. Building all my pages, website, , funnels, courses, etc which is going to be a massive task for me . 4. Implementing, developing connections, setup, 5. Dividing the focus week wise so that I don’t get overwhelmed. Thank you sid 🤗

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How to Create a Business Plan Timeline

business timeline

Below you will learn what a business plan timeline is and where it belongs in your business plan.  

What is a Business Plan Timeline?

A business plan timeline lays out the key milestones you hope to achieve in your business and when you plan to accomplish them.   

The Importance of a Timeline

In running a business, it is very easy to get caught up in day-to-day activities and putting out fires. When you do this, unfortunately, it’s hard to grow your business. Having a timeline that lists your key goals forces you to spend time each day, week, and month to work on key growth initiatives.

Also, if you are seeking funding, investors and lenders need to understand these milestones and your projected dates for accomplishing them. This helps give them confidence that you will successfully execute your plan. 

Also, having a timeline helps you better prioritize your time and hire the right people at the right time.

    Finish Your Business Plan Today!

Where does the timeline go in the business plan.

The timeline belongs primarily in the Operations Plan of your business plan, however, you may include some highlights within the Executive Summary as well. 

Using the established key milestones you have created, you will now assign a timeframe to those milestones to show when you expect to reach each milestone. Remember, use historical data and be realistic in your timeline so that you can meet these goals.  

What Should Be Included in the Timeline?

Your business is currently at point A. Where you want to go is to point B. Now getting from point A to point B requires you to complete milestones.

And the most important ones are what I call “risk-mitigating milestones.” These are the milestones that help eliminate the risk of your company failing.

Some examples of “risk mitigating milestones” may include:

  • Finding a location for your business, store, warehouse, etc.
  • Getting the permits and licenses
  • Building the facility/store
  • Hiring and training staff
  • New products and services introductions
  • Store opening date
  • Key employee hires
  • Revenue milestones (date when sales exceed $X, when sales exceed $Y, etc.)
  • Key partnerships executed
  • Key customer contracts secured
  • Key financial events (future funding rounds, IPO, etc.)

As an entrepreneur or small business owner, it is your job to identify your risk-mitigating milestones and prioritize them so that you can take steps each day toward the larger business goals.  

How to Create & Prioritize Your Milestone List

Create your detailed risk-mitigating milestone list first. The goal should be to list approximately six major milestones in the next year, five milestones in the following year, and so on for up to five years (so include two in year 5). 

You can use this as a “To Do” list and ensure you achieve your goals each day, week, and month, further developing your business strategy.

Next to each milestone, include the expected timeframe, due date, and the budget you will need to attain them. For example, you may want to launch a billboard marketing campaign over a 6-month period (Expected Due Date: 6/30/2022), and the expected cost is $18,000.

After you create your milestone list, you need to prioritize them. Decide on which milestones you should achieve with the initial funding if needed. Ideally, these will get you to the point where you are generating revenues or profits. This is because the ability to generate revenues significantly reduces the risk of your venture; as it proves to lenders and investors that customers want the products and/or services you are offering.

By setting up your milestones, you will figure out what you can accomplish for less money. And the fact is, the less money you need to raise, the easier it generally is to raise it (mainly because the easiest to raise money sources offer lower dollar amounts).  

How to Develop a Timeline For Your Business Plan

You’ve already completed the hard part. 

Now, it’s time to schedule your milestone list and convert it into a timeline format to give you a quick visual reference. Be sure that your timeline includes all the milestones that you’ve deemed a priority.

There are many businesses that prefer to develop Gantt charts, while others may prefer a calendar, Excel sheet, or another preferred format. Choose the format that works best for you.

There are several format options and platforms to choose from if you do a quick search for “ create a timeline online .” However, keep in mind that it’s not how pretty the timeline is, it’s about functionality and the ease of use to track the progress of all the tasks completed. 

Here are a couple of options:

quarterly roadmap timeline for business plan

Source: SlideTeam

This one-page timeline is a downloadable template that is clean and easy to read and follow. While it doesn’t have all the details on this one page, it has enough information to help business leaders understand if the team is on track.

5 year plan

Source: Office Timeline

This is a PowerPoint Presentation add-in that allows you to create a custom Gantt chart with your Microsoft Office account. While the chart above says a 5-year plan, note that they did not include the parts of the milestones beyond Year 1. This may be to reduce clutter and keep focused on the near-future goals. 

gantt chart

Source: GanttPro

This Gantt chart online platform offers another alternative allowing you to assign tasks to others on your team and monitor their progress all in one place. It also tracks the time to complete each task so that you can better schedule in the future for similar projects.

These are only a few of the platforms available online to create an amazing timeline for your business plan. In the beginning, it may be a lot of work to set up, but once you obtain the funding you are seeking, it’ll be well worth the time and effort.

By creating a timeline as early as possible in the business planning process, you can begin to establish realistic goals that can help improve day-to-day decision-making and boost confidence among current and potential stakeholders.

Other Helpful Business Plan Articles & Templates

Business Plan Template & Guide For Small Businesses

3 6 month business plan

See Long- and Short-term Results with a 3-6-12-24 Plan

Published: February 26, 2010 by Marc Thys

3 6 month business plan

One of the major dilemmas companies face today is the pressure to deliver short-term improvements and benefits while still contributing to longer-term breakthrough objectives. The 3-6-12-24 planning tool helps practitioners find a way out of this predicament by presenting a coherent picture of the balance that must be achieved between short- and long-term objectives. An additional benefit: The Belts who run the improvement projects will see these not as stand-alone achievements, but as contributing to a bigger picture.

The 3-6-12-24 planning tool presented here is based on the same concepts and principles as multi-generation project planning (MGPP), an approach used to manage complex programs.

Clearing Up Communication

Two distinct audiences can benefit from this tool: the process owners that want to achieve their breakthrough objectives and the Belts that will execute the projects. Ultimately, the tool is a communication vehicle between these two parties.

Process owners typically want to have a clear picture of what results can be delivered by when, and how these results will contribute to the longer-term objectives. They also want to track the progress of these results and objectives. Moreover, they want to understand what resources will be needed.

Belts usually participate in the dialogue to develop the improvement plan. Based on their understanding of the challenges and uncertainties involved, they propose timelines, projects and resources to achieve the objectives and deliver the results. The process owners challenge them on these proposals in order to get the best return on investment in the shortest possible time frame.

Timing Is Everything

The numbers in the name of the 3-6-12-24 planning tool refer to months. For each of these milestones, targets should be set for key performance indicators of the business, and appropriate projects and work streams identified. The 24-month timeframe should help process owners to break out of fiscal year constraints that often restrict their thinking. Breakthrough objectives are seldom achieved within one fiscal year, so the time horizons have to be set accordingly.

The short-term horizons of three and six months will focus the Belts on concrete results. This should help overcome the syndrome whereby only large, complex DMAIC (Define, Measure, Analyze, Improve, Control) projects are defined and selected, designed to deliver within six months, but often dragging on for 10 months or longer. At the same time, the Belts are encouraged to come up with smaller, Kaizen-type projects. Not only does this type of project deliver results more quickly, but the projects often act as enablers for larger DMAIC projects that can be executed in parallel. The Kaizen projects also can be used as a vehicle to deliver quick wins that are often identified in the early stages of a DMAIC project.

Creating a Roadmap

The 3-6-12-24 planning tool can be best used for a rolling wave type of planning and review. This means that not only will the original plan be used to track progress and results every three months, but it will also be reviewed and adapted with that frequency. At the first review after three months, the original six-month target becomes the three-month target, and a new six-month target is set based on what now appears to be an achievable target on the road to the original 12-month target. Practitioners should revise the 12- and 24-month targets every six months, based on the insight gained over the previous six months. The 3-6-12-24 plan then becomes a living document to map out the road to the breakthrough objectives.

In the spirit of multigeneration planning, practitioners should ask the questions in Table 1 to determine the data and knowledge that must be gained in the first generation and is required to be able to execute the successive generations.

Typically, there should be a plan for each major component or objective of the breakthrough vision. For example, one business might have these three major objectives:

  • Reduce defects
  • Improve productivity
  • Reduce lead time

Table 2 shows a sample 3-6-12-24 plan for reducing defects.

Taking On Project Responsibility

Introducing this tool also can be a major motivator for the Belts that are going to work on these projects. One or two Black Belts should be assigned to each of the areas and should be given two-year goals. From there, they should be allowed to develop the rest of the plan – including the projects that they are going to work on in the next six months in order to achieve these goals. This way Belts do not have to wait for DMAIC projects to be assigned to them and can avoid projects that are poorly defined, not clearly scoped and not part of a coherent set – let alone aligned to achieve a clear mid- to long-term goal. Furthermore, the Belts will have work beyond long-winded DMAIC projects because the plan encourages them to include shorter Kaizen events and even “just do it” type projects in their set.

The tool and approach also help the sponsors and process owners to fulfill their roles because they become fully accountable for the results of the plan, rather than having a vague role to “remove roadblocks” for the Belts.

Demonstrating Value

After the initial launch of this tool at a test business, practitioners achieved their performance objectives for the first half of the year several months sooner than expected, allowing them to set more aggressive targets for the second half of the year. The achievement helped bring about a major turnaround for the entire Lean Six Sigma program, which had been on the brink of failure due to a lack of understanding and leadership and an overemphasis on short-term financial results. The problems had led to very low levels of morale with the Belts, who were actually blamed for the lack of success with the program. Now they had an effective tool to focus the improvement efforts of the business, and it became easy to demonstrate the program’s alignment with the strategy and its value to the business.

With the 3-6-12-24 planning tool, practitioners stopped measuring the individual benefits of projects and concentrated on the collective impact of the projects on the business objectives. It turned out to be a win-win situation for all parties involved: the business, sponsors, process owners and Belts.

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3 months business planning timeline

A business plan is a set of actions or process that describe how an organization run and business plan consists of describing the organization products and services. You can explain different types of business plan that is essential for an organization to accomplish its goal or to complete any project by taking help of 3 Months Business Planning Timeline presentation slide. Business marketing strategy PPT is an effective way to discuss all the strategies and tips to do any business. The strategic business plans template helps in discussing the different techniques, tools, and process with your team to achieve any target. You can guide your team about detailed theories and methods of sales planning and selling by taking help of the business planning process template. You can share the vision and mission of your organization with your team or stakeholders. With the help of business marketing planning slide, you can give an overview of the specific market segments which your organization is targeting. You can share the threats with your team which may affect your organization's business planning by taking help of 90 days business planning presentation template. An air of harmony develops due to our 3 Months Business Planning Timeline. Friendly feelings begin to flow.

3 months business planning timeline

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Presenting 3 Months Business Planning Timeline PPT slide. The monthly business timeline presentation template designed by the professional team of SlideTeam to maintain a business plan. The business planning timeline slide is editable in PowerPoint and the slide is compatible with Google Slides so that you can share it with others. The font size and type, colors and shapes of the figure are editable and you can modify it in the template according to different business planning. You can insert the text related to business activity planning because SlideTeam has inserted dummy text in this slide.

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Content of this Powerpoint Presentation

Description:.

The image shows a PowerPoint slide titled "3 Months Business Planning Timeline," structured to outline a quarterly business plan. The slide is segmented into three main columns, each representing a month with a unique icon at the top: a calendar for Month 01, a thumbs-up for Month 02, and a bar chart for Month 03. Below each icon is space for adding text, indicating that the slide is meant to be customized with specific actions or milestones for each month of the quarter.

This slide can be effectively utilized in various industries for strategic planning, project management, and reporting:

1. Software Development:

Use: Outlining product development phases.

Presenter: Project Manager.

Audience: Development team, stakeholders.

2. Marketing:

Use: Scheduling marketing campaigns and activities.

Presenter: Marketing Director.

Audience: Marketing team, sales representatives.

3. Construction:

Use: Planning project milestones and deliverables.

Presenter: Construction Manager.

Audience: Contractors, clients, architects.

4. Education:

Use: Mapping out academic and administrative timelines.

Presenter: Academic Coordinator.

Audience: Faculty, administrative staff.

5. Financial Services:

Use: Detailing financial close processes or compliance deadlines.

Presenter: Compliance Officer.

Audience: Finance department, auditors.

Use: Planning for product launches, sales, or inventory cycles.

Presenter: Retail Operations Manager.

Audience: Store managers, merchandising teams.

7. Event Management:

Use: Tracking preparation stages for upcoming events.

Presenter: Event Planner.

Audience: Vendors, event staff, clients.

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Correct the injudicious with our 3 Months Business Planning Timeline. Deter them from hurried decisions.

3 months business planning timeline

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Business Unlimited plans

Switch and get truly unlimited data, plus double the premium hotspot data with select plans.

  Select the number of lines to see how your Business Unlimited plan monthly price would change.

Plans available with a month-to-month or device payment agreement. Prices include $5 savings per month per line when you sign up for Auto Pay and paper-free billing. 

Enjoy your business essentials.

$70 without Auto Pay and paper-free billing discount

$60 without Auto Pay and paper-free billing discount

$45 without Auto Pay and paper-free billing discount

$40 without Auto Pay and paper-free billing discount

$35 without Auto Pay and paper-free billing discount

  • 5G/4G LTE Unlimited 5G and 4G LTE data; in times of congestion, your smartphone and mobile hotspot data may be temporarily slower than other traffic (network management). 5G access requires a 5G-capable device. 5G Ultra Wideband access is not available. Domestic data roaming at 2G speeds.
  • Unlimited talk, text & data Unlimited 5G and 4G LTE data; in times of congestion, your smartphone and mobile hotspot data may be temporarily slower than other traffic (network management). 5G access requires a 5G-capable device. 5G Ultra Wideband access is not available. Domestic data roaming at 2G speeds. In times of congestion, your mobile hotspot data may be temporarily slower than other traffic (network management). After 5 GB/line/month, mobile hotspot reduced to speeds up to 600 Kbps for the rest of the month.
  • Mobile hotspot data In times of congestion, your mobile hotspot data may be temporarily slower than other traffic (network management). After 5 GB/line/month, mobile hotspot reduced to speeds up to 600 Kbps for the rest of the month.
  • Call Filter Reduce spam calls with call screening, auto-blocking and easy reporting of unwanted numbers. Activation required. Terms apply.
  • 480p video streaming Video streaming at 480p.

Boost your productivity.

$80 without Auto Pay and paper-free billing discount

$55 without Auto Pay and paper-free billing discount

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  • 5G Ultra Wideband Our fastest 5G network experience. 5G access requires a 5G-capable device.
  • 100 GB Premium Network Access Get 100 GB of premium smartphone data per line per month. In times of congestion, your 5G and 4G LTE smartphone data may be temporarily slower than other traffic after 100 GB premium network access/line/mo. There is no network management for 5G Ultra Wideband (UW) data. Domestic data roaming at 2G speeds.
  • 100 GB premium mobile hotspot data After 100 GB line/mo premium hotspot data, mobile hotspot reduced to speeds up to 600 Kbps (4G LTE and 5G) and 3 Mbps (5G UW) for the rest of the month.
  • Call Filter or Call Filter Plus Call Filter: Reduce spam calls with call screening, auto-blocking and easy reporting of unwanted numbers. Call Filter Plus: Adds caller ID, spam look up and risk meter, a personal block list and the ability to block by category. Activation required. Terms apply.
  • Business Mobile Secure Help protect and manage your company devices with this bundle of security features curated specifically for small businesses. Lookout for small business: Helps keep your data safe with anti-phishing and Wi-Fi network protections. Mobile Device Management: Lets you manage and apply controls across company smartphones and tablets. Dedicated chat support: Expert help via Chat for onboarding, setup and troubleshooting of your security features. Activation required. $5/device monthly charge offset by $5 credit while on qualifying price plan. Terms apply.
  • Up to 4K video streaming Video streaming at 4K when inside a 5G Ultra Wideband coverage area. High-definition 1080p video streaming on 5G / 4G LTE when you activate it in your plan settings. Otherwise video streaming at 480p.
  • TravelPass (2 days per month) Get 2 TravelPass days each month. Each TravelPass day gives you 24 hours of unlimited talk and text, 2GB of high speed international data then unlimited data at 3G speeds thereafter. TravelPass days do not carry over and expire at the end of each month. TravelPass is available in 210+ countries and destinations. 5G or 4G world device required.

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$85 without Auto Pay and paper-free billing discount

$75 without Auto Pay and paper-free billing discount

  • Unlimited Premium Network Access Get unlimited premium smartphone data that isn’t slowed based on how much data you use. Domestic data roaming at 2G speeds.
  • 200 GB premium mobile hotspot data After 200 GB line per month premium hotspot data, mobile hotspot reduced to speeds up to 600 Kbps (4G LTE and 5G) and 3 Mbps (5G UW) for the rest of the month.
  • TravelPass (4 days per month) 4 TravelPass days are included each month. Each TravelPass day gives you 24 hours of unlimited talk and text, 2GB of high speed international data then unlimited data at 3G speeds thereafter. TravelPass days do not carry over and expire at the end of each month. TravelPass is available in 210+ countries and destinations. 5G or 4G world device required.
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Save $10/mo when you add a line.

Unlimited data so you can work as flexibly as you need

  • 5G/4G LTE Unlimited 5G and 4G LTE data; in times of congestion, your smartphone and mobile hotspot data may be temporarily slower than other traffic (network management). 5G access requires a 5G-capable device. 5G Ultra Wideband access, machine to machine services and mobile hotspot are not available. Domestic data roaming at 2G speeds.

Save 50% with Business Unlimited Pro smartphone plan.

Unlimited mobile hotspot data so you can meet on the go

  • 5G/4G LTE 5G access requires a 5G-capable device. Not available for machine to machine services. Domestic data roaming at 2G speeds.
  • 35 GB Premium Network Access Unlimited 4G LTE, 5G and 5G Ultra Wideband (UW) data; in times of congestion, your tablet data may be temporarily slower than other traffic after 35 GB/line/mo premium network access (network management).
  • 15 GB Premium mobile hotspot data, then unlimited lower speed data After 15 GB/line/mo premium hotspot data, mobile hotspot reduced to speeds up to 600 Kbps (4G LTE & 5G Nationwide) and 3 Mbps (5G UW).
  • Up to 4K video streaming Video streaming at 4K when inside a 5G Ultra Wideband coverage area.

 Choose the Business Unlimited laptop plan that works best for you.

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Unlimted data to help you take on the day

  • 5G/4G LTE Unlimited 5G and 4G LTE data; in times of congestion, your data may be temporarily slower than other traffic. 5G access requires a 5G-capable device. 5G Ultra Wideband access and machine-to machine services are not available. Domestic data roaming at 2G speeds.

Up to 4K video streaming to help you meet in HD

  • 50 GB Premium Network Access Unlimited 4G LTE, 5G and 5G Ultra Wideband (UW) laptop and mobile hotspot data. After 50 GB/line/mo premium network access, data reduced to speeds up to 600 Kbps (4G LTE and 5G) and 3 Mbps (5G UW) for the rest of the month.
  • Up to 4K video streaming Video streaming at 4K when inside a 5G Ultra Wideband coverage area. High-definition 1080p video streaming on 5G/4G LTE when you activate it in your plan settings. Otherwise video streaming at 480p.

 Choose the Business Unlimited mobile hotspot plan that works best for you.

Plus Data Device

Enough data for easy hotspot streaming and to meet on the go

  • 60 GB Premium Network Access Unlimited 4G LTE, and 5G and 5G Ultra Wideband (UW) data. After 60 GB/line/mo premium network access, data reduced to speeds up to 600 Kbps (4G LTE and 5G) and 3 Mbps (5G UW) for the rest of the month.
  • Up to 4K video streaming Video streaming at 4K when inside a 5G Ultra Wideband coverage area. 720p video streaming on 5G/4G LTE.

Pro Data Device

Plenty of data to stay productive during those longer workdays

  • 100 GB Premium Network Access Unlimited 4G LTE, 5G and 5G Ultra Wideband (UW) data. After 100 GB/line/mo premium network access, data reduced to speeds up to 600 Kbps (4G LTE and 5G ) and 3 Mbps (5G UW) for the rest of the month.

Choose the Business Unlimited smartwatch plan that works best for you.

Standalone Smartwatch

Premium data so you don’t miss a beat at work

  • 15 GB of premium 5G/4G LTE data Unlimited 5G & 4G LTE data. After 15 GB premium data/line/month, data reduced to speeds up to 200 Kbps for the rest of the month. 5G access requires a 5G capable device. Not available for 5G Ultra Wideband access, mobile hotspot or machine to machine services. Domestic data roaming at 2G speeds. Additional terms apply.

Numbershare Smartwatch

Your connected smartwatch can use your mobile number

  • 22 GB of premium 5G/4G LTE data Unlimited 5G & 4G LTE data. After 22 GB premium data/line/month, data reduced to speeds up to 200 Kbps for the rest of the month. 5G access requires a 5G capable device. Not available for 5G Ultra Wideband access, mobile hotspot or machine to machine services. Domestic data roaming at 2G speeds. Customer must also subscribe to select smartphone data plan. Both smartphone & smartwatch plans must be part of same sub-account. Additional terms apply.

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What are the benefits of Verizon Business Unlimited 5G smartphone plans?

Verizon Business Unlimited 5G smartphone plans provide unlimited data, talk and text on Verizon’s 4G LTE and 5G networks. Plans also include access to Verizon’s business-class features, such as mobile hotspot data, call filtering, video streaming and mobile device management (available with select plans). Customers can choose from a variety of plans with different features to meet their business needs.

Can I add multiple lines to a Business Unlimited 5G smartphone plan?

Yes, Verizon’s Business Unlimited 5G smartphone plans allow you to add multiple lines. There are multiple options for businesses, ranging from single-line plans to multiple-line plans. The amount of lines you select is based on your company’s requirements.

Do Verizon Business Unlimited 5G smartphone plans offer any international benefits?

Yes, unlimited talk and text is available in Canada and Mexico along with 2 GB of high speed data per day with unlimited data at 3G speeds thereafter. If more than 50% of your total talk, text or data usage in a 60-day period is in Canada or Mexico, use of those services in those countries may be removed or limited. Additionally, Verizon Business Unlimited Plus 5G and Unlimited Pro 5G plans offer TravelPass that include international talk and text in over 210 countries and destinations.

Can I bring my own device or do I need to purchase a new device with the Business Unlimited 5G smartphone plan?

Verizon’s Business Unlimited 5G smartphone plans offer the flexibility to bring your own device (BYOD) or purchase new devices . If you already have compatible devices, you can simply activate them on a Business Unlimited plan. Alternatively, Verizon offers a wide range of devices for purchase if you prefer new devices for your business.

Are there unlimited data plans for other devices?

Yes, Verizon offers a variety of plans with unlimited data for tablets, laptops, smartwatches and hotspots. This provides the right solution for businesses requiring reliable connectivity while on the go.

Offer and Pricing Details

All Offers:  Offers available to new business customers only, subject to credit review. Not available in all areas/locations. Depending on speed tier purchased, promotional pricing for Internet and voice guaranteed for 12 consecutive months ($10 increase starting month 13 with 2 year contract), or 24 consecutive months ($10 increase starting month 25 with 2 year contract), or 36 consecutive months ($10 increase starting month 37 with 2 year contract) or 60 consecutive months ($10 increase starting month 61 with 2 year contract) (60 month guarantee not available in all areas where Fios is sold) subject to continuation of qualifying products; price guarantee applies to base monthly rate only; excludes optional services and equipment charges; prices subject to increase thereafter. With no annual contract, price increases to then current market rate subject to the applicable guarantee period. Select installation charges may be waived. Additional charges apply for inside wiring and/or other installation services. $49 activation fee may apply. Offers may be fulfilled via bill credit(s); other taxes, fees & terms apply.  Early termination fees  for a 2 year contract: 35% of base monthly charges for unexpired term. 2 year term automatically renews at then-current term rates unless canceled within 30 days prior to or 60 days after the term is renewed.  Money Back Guarantee  (MBG) is available with 2 year contract only and requires cancellation within 30 days of installation; excludes subscriptions, per minute usage, labor/material charges in excess of standard installation and month-to-month service plans, including Fios TV service. Wireless Verizon Router is available for $399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental).  Wireless router models and prices are subject to change. Phone equipment purchase required with VoIP, starting at $85. Equipment must be returned within 30 days of cancellation. Equipment restocking fee may apply if order is canceled or service is terminated within 30 days. MBG and/or promotional offers do not apply to service ordered for temporary, short term or special events.  Firm Price Quote  is valid for 5 business days and is an estimate based on current pricing, promotions and taxes that are subject to change. Quote does not include additional charges for nonstandard installations. Verizon Wi-Fi available in select areas with qualifying packages. Software limitations and other terms apply. Visit business.verizon.net/wifi for details.  Offers are available for a limited time only and are subject to change without notice.  Wired speeds advertised. Wired & wireless speeds vary due to device limits, multiple users, network & other factors. See  www.verizon.com/yourspeed  for more info. Service availability varies.

Fios Internet & Phone Bundle (VSB):  Usage charges apply on basic line. Activation fee of $49 may apply based on speed tier purchased. Wireless Verizon Router is available for$399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental).  Wireless router models and prices are subject to change. Backup battery available for Fios voice services & E911. VSB not available with 2048/2048 Mbps Internet (2 Gigabit Connection).

Fios Internet & Business Digital Voice (BDV) Bundle:  Pricing for BDV line(s) with the Fios bundle: For speeds 200/200 Mbps and higher: the first BDV line is available for $20/mo. and $25/mo. for each addl. line. Pricing reflected in the cart. No annual contract required. $49 activation fee may apply. Wireless Verizon Router is available for $399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental). Wireless router models and prices are subject to change. Business Digital Voice requires phone equipment purchase starting at $85.00.

Basic Internet & Phone Bundle : $49.00 activation fee applies with 2 year contract; $99.00 activation fee applies with no annual contract. Wireless router available for $49.00, subject to change. Basic Internet will be provisioned at our fastest speed available at your location of up to 1Mbps, 3Mbps, 5Mbps, 7Mbps or 10-15Mbps based on VZ line qualifications requirements.

$5/month Auto Pay & Paper-Free Billing discount:  For new and existing Fios Internet or Basic Internet customers on select plans. May not be combined with all offers. $5/mo. discount begins when you sign up for Auto Pay (ACH or debit card only) & paper-free billing (registration on  verizon.com/mybusiness  required). $5 discount will be applied each month as long as auto pay and paper-free billing stay active.

$85 Business Digital Voice Phone Discount:  Offer available on select IP Phones with purchase of a new Fios Internet and Business Digital Voice bundle with a two year agreement. Fulfilled via bill credit. Taxes apply. Limit one discount per phone model. Restocking fee may apply if canceled within 30 days. Available to select customers in select areas only. Offer ends 3.31.24.

Included Router Rental Fee:  Available only to Fios Internet customers on the Gigabit Connection plan (up to 940/880 Mbps) or 2 Gigabit Connection plan (up to 2048/2048 Mbps) where available. Qualifying customers will receive a monthly bill credit for the applicable monthly router rental fee for as long service with qualifying plan is on the account.  Promo credits end when eligibility requirements are no longer met.  If your Fios service is cancelled, you must return the Fios router subject to Verizon’s standard return policy. 

Fios Switching Allowance Offer:  Offer for new business customers in select areas only who sign up for qualifying Fios internet service with a two year agreement (subject to credit review) and who terminated their prior internet service and incurred an early termination fee (ETF). To redeem offer, you must email documentation of the ETF from your prior service provider w/in 30 days after receipt of final bill. Offer fulfilled via a bill credit to your Verizon account in the amount of the billed ETF, up to $1,500. Credit will be issued starting after 30 days of service, and will appear on your Verizon bill within 2-3 billing cycles. You remain solely responsible for paying the ETF to your prior service provider. Offer is non-transferable, has no cash or refund value, and may not be combined with all offers. Other terms apply. Offer ends 3.31.24.

Visa Prepaid Card Offers : Businesses who sign up for qualifying Fios Internet with our mid-tier or high-tier speeds with a two-year agreement will receive a Visa Prepaid Card, with the Visa Prepaid Card amount based on speed tier purchased, as follows: (i) $100 Visa Prepaid Card for Fios 500/500 Mbps Internet; or (ii) $500 Visa Prepaid Card for Fios 940/880 Mbps Internet (Gigabit Connection) or 2048/2048 Mbps Internet (2 Gigabit Connection). May only be combined with select offers. Only available in select locations, including the Philadelphia metro area, parts of New York state and parts of central Massachusetts. Call or visit the website to confirm availability.  Visa Prepaid Card is issued by Pathward®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. No cash access or recurring payments. Can be used everywhere Visa debit cards are accepted. Card valid for up to 12 months, funds do not expire and may be available after card expiration date, fees may apply. Terms and conditions apply.  Must register for card online and keep qualifying Verizon service for 60 days from install, with no past-due balance 65 days from install. Card mailed within 90 days of install date. Limit one card per account. Other card terms and conditions apply. Offers end 3.31.24.

Visa Prepaid Card Fast Start Offers : Businesses who sign up for qualifying Fios Internet with our mid-tier or high-tier speeds with a two-year agreement will receive a Visa Prepaid Card, with the Visa Prepaid Card amount based on speed tier purchased, as follows: (i) $400 Visa Prepaid Card for Fios 500/500 Mbps Internet; or (ii) $800 Visa Prepaid Card for Fios 1 Gig Internet (940/880 Mbps) or Fios 2 Gig Internet (2048/2048 Mbps). May not be combined with all offers. Not available in all locations, including the Philadelphia metro area, parts of New York state and parts of central Massachusetts. Call or visit the website to confirm availability.  Visa Prepaid Card is issued by Pathward®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. No cash access or recurring payments. Can be used everywhere Visa debit cards are accepted. Card valid for up to 12 months, funds do not expire and may be available after card expiration date, fees may apply. Terms and conditions apply.  Must register for card online and keep qualifying Verizon service for 60 days from install, with no past-due balance 65 days from install. Card mailed within 90 days of install date. Limit one card per account. Other card terms and conditions apply. Offers end 3.31.24.

Fios Business Internet/Business Unlimited Offer:  Offer available to new and existing business customers in select areas only who sign up for both: (i) a qualifying Fios Business Internet plan & (ii) a qualifying Verizon Wireless Business Unlimited plan (eligible smartphone required, device payment purchase or bring your own device). Existing customers are eligible with Fios Business Internet plan upgrade or Business Unlimited plan upgrade or a new line, as applicable. Customers with Fios Gigabit Connection (speeds up to 940/880 Mbps) or Fios 2 Gigabit Connection (speeds up to 2048M/2048M), where available, and Verizon Wireless Business Unlimited Pro plan (at least 1 line) are eligible for a total credit of $80/mo, all other combinations of service plans are eligible for a total credit of $40/mo. Offer fulfilled as a credit of $20/mo. or $40/mo. each to your Fios and Verizon Wireless bills, for a total credit of $40/mo or $80/mo as applicable. Credit is fulfilled at an account level and only one promotional credit per account. Discounts are applied once both services are activated. All discounts apply as long as Verizon provides & business maintains both services at the qualifying levels. Limited time offer.

$100 One-Time Discount:  Offer available only to business customers who are new to Verizon and who sign up for a qualifying Fios Business Internet plan and a qualifying Verizon Wireless Business Unlimited plan. Existing Verizon customers are not eligible. One time $100 discount offer fulfilled as a bill credit to your Verizon Wireless account and will appear within 1-2 billing cycles. May only be combined with select offers. Limited time offer.

Fios Internet Only:  $49 activation fee applies based on speed tier.  Wireless Verizon Router is available for $399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental).  Wireless router models and prices are subject to change.

Basic Internet Only: $49.00 activation fee applies with 2 year contract; $99.00 activation fee applies with no annual contract. Wireless router available for $49.00, subject to change. Verizon Basic Internet will be provisioned at up to 1Mbps, 3Mbps, 5Mbps, 7Mbps or 10–15Mbps based on VZ line qualifications requirements. Availability subject to final confirmation by Verizon.

Preferred Voice Only:  Offer available to new and existing customers. Requires 2-yr term agreement. Includes unlimited direct-dialed voice calls to anywhere in the US. Selected activation and installation charges are waived. Additional charges may apply for inside wiring and/or other installation services. Additional Universal Service Fee, taxes and other charges apply. Call detail is not provided for unlimited calling.

Business Digital Voice (BDV) Only:  Offer available to new customers with 100 voice lines or fewer in select areas only, subject to credit review. BDV requires an existing Internet connection of 5Mbps or higher. $99.99 activation and $200 installation fees apply. Additional charges apply for inside wiring and/or other installation services. Phone equipment purchase req’d, starting at $85.00. Call detail is not provided for unlimited calling.

Fios TV:  Wireless Verizon Router is available for $399.99 purchase and $18/mo rental (except in Maryland, where the wireless Fios Router is available for $299.99 purchase and $15/mo rental).  Wireless router models and prices are subject to change.. $99.99 activation and $89.99 installation fees (first three existing TV outlets) apply. Additional charges apply for inside wiring and/or other installation services. $11.99/mo. HD set top box, franchise and regulatory fees, up to $8.89 Regional Sports Network (RSN) fee, $11.49 Broadcast Fee, other taxes and fees apply. Equipment shipping charge may apply. Program availability varies by location. Number of channels is approximation. High Definition (HD) TV with HD STB required for HD programming. Certain TV plans, Pay Per View (PPV) and Subscription or fee-based Video On Demand (VOD) are not permitted for viewing in restaurants, bars or other customer service areas. Channel lineup is subject to change and not all channels will be available at all times. Blackout restrictions apply. Month-to-month service without an annual contract required.

Fios TV Mobile app:  Req. compatible device and Fios® TV. Content restrictions may apply. Fios Internet req’d for in-office use. Full channel access and DVR streaming require Fios Multi-Room DVR enhanced or Premium Service. Max. combined 5 simultaneous live TV streams and/or DVR streams per media server. Streaming of TV shows and movies On Demand included in your plan is available to all business customers. Streaming of rented/purchased TV shows and movies On Demand is only available to Private Viewing business customers. Requires acceptance of Terms of Service and Private Viewing conditions at  verizon.com/mybusiness . Early access to Fios TV Mobile app begins with activation & ends upon installation or in 14 days, whichever comes first. Wireless data charges may apply.

Veterans / Active Military offer:  Offer available to eligible and verified members of the U.S. military and U.S. Veterans in select areas with Business Fios Internet with a two year agreement, subject to credit review. Not available in all areas/locations. Upon military service verification through Veterans Advantage, eligible customers will receive a discount in the amount of $5/month for speeds up to 500M/500M; or $10/month for 940/880 Mbps and 2048/2048 Mbps (where available), for as long as that customer maintains qualifying Business Fios Internet service. Not available for month-to-month plans. Eligible customers must complete the military service verification process within 30 days of the order to get the discount.

Business Internet Secure:  Available to businesses with 19 employees or less. Requires current Fios Business Internet service. Business Internet Secure licenses are sold in packs of 5, 10, and 25 with one license covering one device (laptop, desktop, smartphone or tablet). One license pack at a time per customer account. Prices are monthly and exclusive of taxes and fees. Terms and conditions apply. System requirements: Windows 7 and above; Mac OSX 10.9 and above; Android OS 5.0 and above, or Apple iOS 10.0 and above.

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Watch CBS News

When will the Fed cut interest rates in 2024? Here's what experts now say and the impact on your money.

By Aimee Picchi

Edited By Anne Marie Lee

February 14, 2024 / 12:03 PM EST / CBS News

A top question on the minds of investors and consumers alike is when might the Federal Reserve make its first interest rate cut after two years of rapid hikes, which have sent mortgage and credit card rates soaring. But after Tuesday's hotter-than-forecast inflation report , economists have a partial answer: Expect to wait longer.

Even before Tuesday's inflation data, the Federal Reserve had signaled that it would take a cautious approach. Fed chair Jerome Powell told CBS News' "60 Minutes" earlier this month that the central bank wants to have more confidence that inflation is receding "before we take that very important step of beginning to cut interest rates."

The Federal Reserve began hiking rates in March 2022 to battle red-hot inflation, relying on an effective tool to depress consumer spending and tamp down price increases. The central bank's 11 rate hikes since then have helped bring down the annual inflation rate to 3.1% in January from a high of 9.1% in June 2022, but January's number was higher than economists had projected — and remains above the Fed's goal of driving inflation down to 2%. 

The Fed is "being very cautious when it comes to its decision making regarding rate cuts," noted Jacob Channel, an economist at LendingTree, in an email. "The reason for this is because they don't want to start cutting prematurely and end up making inflation worse."

January's hot inflation data illustrates the difficulty for the Fed in timing its first cut, he added. "For this reason, if you're convinced that deep cuts are just over the horizon, you might be setting yourself up for disappointment," Channel added. 

When will the first cut happen?

Economists have revised their forecasts following Tuesday's sticky inflation report, with many of them now projecting the Fed's first cut will come later in 2024 than they had earlier forecast. In other words, don't hold your breath for a cut at either of its next two meetings, in March and May.

Earlier in the year, most economists pegged the first rate cut of 2024 for the Fed's March 20 meeting. But as of Wednesday, only 1 in 10 continued to forecast a March rate cut. 

"The initial market reaction sent expectations for a March rate cut to a below 10% probability — quite a shift after starting the year at 80%," PNC Bank said in a Tuesday investment note. 

Likewise, fewer economists are now predicting that the Fed will cut rates at its May 1 meeting. Currently, about one-third are still penciling in a May rate reduction, down from 90% earlier this year. 

Instead, you'll most likely need to wait until the Fed's June 12 meeting to see the first rate cut, according to economists polled by FactSet.

"In our view, expectations for rate cuts are, and have been, too aggressive. Our base case does not anticipate rate cuts until closer to mid-year," PNC noted.

What does this mean for your money?

With economists pushing back their rate-cut forecasts to mid-2024, the initial impact was on the stock market, with the Dow Jones Industrial Average falling 525 points , or 1.4%, on Tuesday. 

Investors had been pushing stocks higher on expectations that the Fed would soon cut rates, which could lower costs for businesses and spur consumers to spend more — potentially juicing corporate profits. 

See Managing Your Money for more information on mortgage rates

  • What the latest inflation numbers mean for mortgage rates
  • Is a 1% drop in mortgage rates worth refinancing? Experts weigh in
  • Why some experts say you shouldn't wait for mortgage rates to fall

For now, borrowers aren't likely to get a break on loan terms anytime soon. Auto loans, credit card rates and other credit products that are based on the Fed's benchmark rate will likely remain at or near their current levels until the first rate cut.

Mortgages are slightly different because they are influenced by the 10-year Treasury yield and economic indicators including inflation. 

"When inflation growth is worse than expected, mortgage rates often rise," Channel said. "With that in mind, we may see somewhat higher mortgage rates over the coming weeks."

After a bounce, however, mortgage rates "will most likely settle toward 6% by the year end," predicted NAR chief economist Lawrence Yun in an email.

  • Mortgage Rates
  • Interest Rates
  • Federal Reserve

Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.

More from CBS News

What will the 2024 spring homebuying season look like?

Is a mortgage rate half a percentage point lower worth it?

4 expert tips for choosing the right CD in today's rate environment

5 things to do with a $50,000 home equity loan

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  4. Developing A Six Months Business Plan Roadmap

    3 6 month business plan

  5. 6 Month Timeline Template

    3 6 month business plan

  6. Six Months Roadmap For The Future Business Planning

    3 6 month business plan

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COMMENTS

  1. Simple Business Plan Template (2024)

    How To Write an Effective Business Plan in 6 Steps Frequently Asked Questions While taking many forms and serving many purposes, they all have one thing in common: business plans help you...

  2. How To Write A Business Plan (2024 Guide)

    A solid business plan is essential for any new business. ... CD Interest Rates Forecast 3 Month CD Rates 6 Month CD Rates 1 Year CD Rates ...

  3. How to Write a Business Plan, Step by Step

    Steps 2. Describe your company 3. State your business goals 4. Describe your products and services 5. Do your market research 6. Outline your marketing and sales plan 7. Perform a...

  4. Write your business plan

    Executive summary. Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company's leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

  5. 30-60-90 Day Plan: Ultimate Guide Plus Template

    5 - 10+ years What company benefits are most important to you? Health Insurance Paid Vacation Remote Work Opportunities Dental Insurance 401k With Matching Vision Insurance Promote From Within Flexible Work Hours Personal Sick Days Performance Bonus

  6. How to Write a Simple Business Plan

    That said, a typical business plan will include the following benchmarks: Product goals and deadlines for each month. Monthly financials for the first two years. Profit and loss statements for the first three to five years. Balance sheet projections for the first three to five years.

  7. How to Develop a Strategic Plan for Business Development [Free Template]

    Let's go over the steps you should take to create a strategic plan. 1. Download our strategic plan template. First, download our free growth strategy template to create a rock-solid strategic plan. With this template, you can map a growth plan for increasing sales, revenue, and customer acquisition rates.

  8. Top 10 Six-Month Business Plan Templates with Samples and ...

    Template 1: Six-Month Business Plan PPT Template This PPT Bundle is a comprehensive resource that guides organizations through strategic initiatives. It encompasses diverse plans, including a Business Development Plan focused on market share, revenue, and new product launches.

  9. How To Craft A 5-Step Business Plan For Next 3 Months

    Planning your business growth for the next 3 months will help you make progress much faster than taking things on a day-to-day ad-hoc basis. In this podcast, I'm going to walk through a simple 3 months business planning exercise you give you better clarity on your next action steps. How To Craft A 5-Step Business Plan For Next 3 Months

  10. How to Plan 6 Months at a Time in Your Business: A Step-by-Step Guide

    We're jumping in with a six-month, step-by-step, behind-the-scenes look at planning. Now, before we get into those step-by-step pieces, I want to take a few minutes to talk about why I think planning is important and also talk about one of the key things that I do before planning for six months. WHY PLANNING IS IMPORTANT

  11. How to Create a Business Plan Timeline

    For example, you may want to launch a billboard marketing campaign over a 6-month period (Expected Due Date: 6/30/2022), and the expected cost is $18,000. After you create your milestone list, you need to prioritize them. Decide on which milestones you should achieve with the initial funding if needed.

  12. See Long- and Short-term Results with a 3-6-12-24 Plan

    The 3-6-12-24 planning tool can be best used for a rolling wave type of planning and review. This means that not only will the original plan be used to track progress and results every three months, but it will also be reviewed and adapted with that frequency.

  13. 30-60-90 Day Plan: A Guide With Template and Example

    A 30-60-90 day plan is a document used to set goals and strategize your first three months in a new job. 30-60-90 day plans help maximize work output in the first 90 days in a new position by creating specific, manageable goals tied to the company's mission and the role's duties and expectations.

  14. 5 steps to plan a profitable six months in your business

    119: 5 steps to plan a profitable and enjoyable six months in your business.

  15. Must-have 6-Month Plan Templates with Samples and Examples

    A 6-month plan is a structured roadmap outlining a set of objectives, strategies, and actions that an individual, team, or organization intends to accomplish over a half-year period. It serves as a critical tool for goal-setting, project management, and overall strategic direction.

  16. 3 months business planning timeline

    The image shows a PowerPoint slide titled "3 Months Business Planning Timeline," structured to outline a quarterly business plan. The slide is segmented into three main columns, each representing a month with a unique icon at the top: a calendar for Month 01, a thumbs-up for Month 02, and a bar chart for Month 03.

  17. How to Write a 30-60-90 Day Sales Plan (With Template)

    Onboarding/learning (first 30 days) Executing your plan (days 31-60) Improving upon your plan (days 61-90) 2. Define your goals. Be ambitious — but realistic — about what you want to achieve personally, and on behalf of your employer, in your first 90 days on the job. 3. Define your metrics.

  18. 3-Month Business Plan Timeline

    3-Month Business Plan Timeline. Three months of daily activities can be tracked with this timeline for new start-up companies. Download Free Version (DOC format) Download Free Version (PDF format) Download the Start-Up Pack for $27. 50 editable start-up printables in one convenient download. My safe download promise.

  19. PDF My 3 Month Business Plan And Making it Happen!

    What do you want to accomplish in your business over the next 3 months? • Revenue Goals eg. How much money do you want to earn? How many clients do you want to have? Will you coach any groups? What about workshops or teleseminars? What products will you develop? • Marketing Goals eg. What are the key messages you want people to know about you?

  20. 30-60-90 Day Plan: 2024 Guide + Example

    A 30-60-90 day plan is a document that is created either by a new employee or a hiring manager and outlines the goals to be accomplished during the first three months of employment. It breaks ...

  21. [3-6-9-12] Month Engagement And Its Importance

    This is about a specific 3-6-9-12 month engagement plan that you must envision for "each" team member, irrespective of the levels. Whether your business is into products, services, staffing...

  22. Business Unlimited Phone Plans

    Offers end 3.31.24. Fios Business Internet/Business Unlimited Offer: Offer available to new and existing business customers in select areas only who sign up for both: (i) a qualifying Fios Business Internet plan & (ii) a qualifying Verizon Wireless Business Unlimited plan (eligible smartphone required, device payment purchase or bring your own ...

  23. What Is Your 6-Month Business Plan?

    Months 5 & 6: The last months of your business plan involve the maintenance of your company, and ensuring that you're managing all areas with efficiency. If you spend all of your time trying to control just one area, you run a big risk of letting other areas fail. If you check your business as a whole, and even get outside help such as a ...

  24. How To Achieve Success In A New Job: A Step-By-Step 12 Month Plan

    Let's think about your 30-day, 60-day, three month and 1-year plan from four perspectives. I tend to refer to them as the four keys to continued job success. Subscribe to newsletters.

  25. When will the first cut happen?

    The central bank's 11 rate hikes since then have helped bring down the annual inflation rate to 3.1% in January from a high of 9.1% in June 2022, but January's number was higher than economists ...