Spring is a good time to revisit your LNC business plan. Every business needs a business plan. You shouldn’t skip this important step in your business.
Many believe if they are the sole person in business or have a service-based business that a business plan is not necessary. Wrong! Even if you are the only one that will see it, it’s good to have and review it. It helps you rediscover and refine your passion and goals.
Focus
Creating your business plan forces you to focus on why you started your business. Below is a simple series of questions that should be covered in your business plan:
- Who do you want to serve?
- What do you want to provide?
- When do you want to start?
- Why do you want to do this?
These are common reasons why you’re going into business and should always be in mind when you make business decisions.
Another thing to focus on is your bigger dream. How much money do you want to make in the next 1-2 years?
Consider using a business plan template to help you structure yours.
A Plan
Think about your business plan as a mountain. Your mission statement is at the base of the mountain, with your dream at the top. Everything in between is what you need to plan and included in your business plan.
Chances are if you’ve been in business for a while, things change. That is never more true than today after the year 2020. Your business plan is not written in stone and can be updated, modified, and even scrapped to create your plan that is more current and realistic.
Block off time on your calendar to work on your business plan. You may want to schedule more than one block of time to work on it. The point is to have ‘guidelines’ in place with deadlines to make sure your business is moving in the right direction to hit your goals. When you block off time to work on it and put everything in writing, you will be more committed to executing your plan.
Action Steps
This is where you will break down the smaller, actionable steps in detail. Instead of saying you want to market nation-wide, define your target market. What kind of attorney do you want to serve? What size firm? What services? These are action steps that will lead you to the end of your goal.
Don’t get overwhelmed at the idea of creating your business plan! The idea is to think about what your dream is, then step back and break it down. Provide deadlines that you are committed to meeting.
Perhaps it’s time to re-evaluate yours and update it. As you go through the process, take the time to acknowledge what you’ve accomplished and that you can expect to build a solid business. Attorneys handling cases with medical records will always need support.
Pat Iyer is president of The Pat Iyer Group, which develops resources to assist LNCs obtain more clients, make more money and achieve their business goals and dreams.
Pat’s related websites include the LNC business coaching services she offers through the continuing education provided on LNCEU.com, the podcasts broadcast at podcast.legalnursebusiness.com, and writing tips supplied at patiyer.com.
Get all of Pat’s content in one place by downloading the mobile app, Biz Edu at www.legalnursebusiness.com/bizedu. Watch videos, listen to podcasts, read blogs, watch online courses and training, and more.