Came across this how to write a 5 year business plan article. I think its pretty good. Back when I was just starting BPO Elite, I spent a lot of time crafting a pretty thorough strategic plan that helped me really get a grasp on what I hoped to accomplish.
Whenever I consult with a small business owner or a senior manager at a larger company, it’s pretty easy to imagine the ones who wrote business plans… people who think strategically generally like to put thnings on paper and use that document like a blueprint.
Those who go more off gut feel and intuition… its a lot harder for me to help.
Anyway, I guess I am in the middle of a five year plan right now, so here is how I would articulate the DMAI 5 year plan.
Year One was all about laying the foundation. Not much money is made, but the connections you make will be difference makers. Finding fans and advocates are the big goals of year one.
Year Two was all about trial and error. Figure out what makes money and what doesn’t. Finding a mix of products and services that you enjoy and you can pay the bills with is key.
Year Three has been all about expansion. Adding more of what works, finding key people to delegate things to who also believe in your vision, adding roles that allow employees to see career growth. Its all about adding value.
Year Four will be all about duplicating thing to a scale to optimize the business and really start turning a significant profit. This is where you should expect to start getting paid some nice returns on investment.
Year Five will be all about spending more time doing what you love and less managing the things you don’t. By now you should have surrounded yourself with a core team who can run the business without you so you can actually really take some time off to smell the roses.