[ULTIMATE CHALLENGE] Creating a small business that generates $1000/month (on the side) using a comprehensive business plan

I love challenges. In the midst of a stressful and busy period last year, I challenged myself to write about 1 thought a day for 30 consecutive days in order to calm my mind and hone my focus, hence 1 Day 1 Thought was born

This year, I am going to do the Ultimate Challenge – creating a small business that generates $1000/month (on the side) using a comprehensive business plan

ULTIMATE CHALLENGE – Creating a small business that generates $1000/month (on the side) using a comprehensive business plan Click To Tweet

Why this small business challenge

1 Day 1 Thought has one purpose – sharing information and knowledge about how to start and grow a business, even if it’s a side hustle

So what better way to celebrate what we stand for than starting a business and documenting all the steps taken, thought processes, and challenges faced – all while doing it on the side?

By doing so, I hope for 2 things:

  1. If you already have a business idea that’s been lingering in your mind, or if you’ve always wanted to start a small business – I hope this challenge will inspire you to take action and just go for it
  2. You will be benefit from learning and applying some of the steps and strategies throughout this journey, saving you a lot of time and guesswork in your own small business

What is this challenge all about

This challenge is simple, I will be attempting to start a business in the form of a blog (this blog) and have it generate at least $1000 in monthly income within 235 days, which is the end of this year

In order to acknowledge that a lot of successful small businesses are started as a side hustle, and many owners make the jump to managing their business full time only after their side hustle can at least cover their living expenses – this blog will be managed on a part-time basis

Also, many businesses are started as a one-man(or woman)-business. As such, this blog will be managed as a one-man-show (with recommendations from the wife considered seriously????)

Want in on the updates of this challenge?

On a weekly basis, I’ll be posting updates about my thought progress, specific actions taken, and also the progress of this small business

On a monthly basis, I’ll be posting a detailed update about the blog’s performance such as traffic, income, expenses, progress vs goals set and anything else I deem fit

If you want me to keep you updated of this ultimate challenge’s progress, please subscribe to my newsletter here



I hope you’re as excited as I am! Let’s start!

The Comprehensive Business Plan

According to Forbes, one of common reasons that small businesses fail is due to not having a business plan

Failing to plan is planning to fail. A solid strategic plan is crucial to the success of any business. A strong strategic plan serves as a living document to guide your efforts and decision making throughout your business journey.

Having a good strategic plan gives you an eagle eye’s point of view of your business, allowing you to do several things:

  • Test your business assumptions
  • Evaluate your business options
  • Identify opportunities that you might have missed out, such as a new revenue source, a new user base, or innovation efforts
  • Avoid costly mistakes that arise from poor planning, such as defining a wrong user base, pricing mistakes, business model flaws, and more

The exact questions to answer in your strategic plan depends on what kind of business you are starting, but I believe a majority of the questions in my strategic plan will be similar ones that you need to answer. If you would like a copy of this template, and many other tools, you can do so here

So here’s the deep dive into the 13-Step Comprehensive Business Plan for 1 Day 1 Thought

The 13-Step Comprehensive Business Plan to start any small business Click To Tweet

STEP 1 – The core of every successful small business – Why

He who has a WHY can endure any HOW

— Frederick Nietzsche

The foundation of every successful business is in its “Why”. The reason your business exists; The purpose of your business; The one cause your business is here to serve.

Knowing and having a strong ‘Why’ in your business will guide the ‘how’ in the business – behaviors, decision makings, and also strategy

If you’re about to start a small business, or even if you’ve already have one – ask yourself why does your business exist, and what underlying problem does your business solve, is it:

  • To serve the best cream puffs in the world?
  • Help travelers have peace of mind about their travel arrangements?
  • Build a network and connect small business owners to support each other?

Because a small business is very intertwined with its owner, the business cause, and the people it serves – I split determining a business’s ‘Why’ into 3 elements”

  1. Why a small business exists from a business perspective (i.e. What underlying problem does your small business solve)
  2. What is the desired impact of your business on yourself
  3. What is the desired impact of your business on other people

1 Day 1 Thought’s ‘Why’

The business perspective

To provide information and knowledge to help new and potential entrepreneurs start and grow a small business, even if it’s a side hustle

The desired impact on myself

  1. Learning while sharing about a topic I’ve been passionate about since forever
  2. Running a small business that gives me flexibility of time and location
  3. Building a diverse, sustainable source of income

The desired impact on other people

  1. Motivate potential small business owners to take the first step of starting their own business, even if it’s a side hustle
  2. Empowering small business owners with the knowledge and information to grow their business
  3. Inspire small business owners with stories and experiences of other more successful small business owners who are on the same journey

STEP 2 – Picking a business model

A business model is essentially how you plan to operate your business.

Depending on what your business is – whether you’re selling a physical product, digital product, or providing a service. You need to plan ahead how to deliver your product / service to your ideal customers

Some small businesses choose to operate from home, food bazaars, pop-up markets, co-working space, a website, a Facebook page, a community page, or even purely through introduction

It’s important that you put some thought into your business model, especially when it requires upfront investments – to avoid expensive mistakes 

1 Day 1 Thought’s Business Model

1 Day 1 Thought’s business model is an information product business that operates mainly through a blog

Here are the reasons I picked a blog as a business model:

Personal excitement

I’ve started and tried several other business models:

  • A product business selling trinkets during my college times (home based and delivery based)
  • A food business selling cream puffs (We started off focusing purely on pop-up markets and food bazaars, eventually having a retail outlet and turned fully online)
  • A service business as a travel agency (office space and exhibition based)

All these business models have their own pros and cons, but I’ve never started an information product business before and I’ve always wanted to give it a go

 

It’s easy to start – like most small businesses should be

It’s pretty easy to start a blog, both financially and in terms of effort required. It took me less than $50 to start 1 Day 1 Thought, and it took me two days to put together the whole website

 

It complements my current skill sets

Before deciding on business model I wrote down all my current skill sets and some new skills I wanted to learn:

  • Putting together websites
  • Digital marketing
  • Content Marketing
  • SEO
  • Writing skills
  • Graphic skills

Starting a blog is a perfect opportunity for me to brush up on skills that I already have, and pushes me to pick up new skill sets required to grow the blog

Many business owners start businesses that require their current expertise or are an extension of their current skills, and that’s a very smart strategy. Starting a business related to your expertise enables you to quickly get things off the ground and get your first customer. Compared to starting a business that requires totally new skill sets, that could be the difference between success and failure

 

It’s a sustainable business model

In my case, starting a blog is a sustainable business model

  1. It’s online: I’ve got global access 24 hours a day, 7 days a week. I could be sleeping while you read this blog post, and that’s awesome
  2. It’s low cost: I do not have to incur costs such as space rental, utilities, and other costs associated to having a physical presence
  3. No distribution or logistical issues: Information products can be delivered at the click of a button, any time of the day, automatically
  4. It’s scalable: It’s easier, and not to mention cheaper, to scale an online business compared to all other business models I’ve ventured into
  5. It’s recession proof: A blog might not be recession proof, but the business niche can be. More on that shortly when I talk about picking a business niche

You can see that the benefit of having an online business is attractive, but that does not mean that it’s suitable for the small business idea that you have or accepted by your ideal customers. Remember to consider these when picking a suitable business model. End of the day, you should know best

STEP 3 – Picking a business niche

A business niche is a more focused, smaller segment of the business that you’re in.

Examples of niches from my small business experiences, we focused on:

  • Trinkets instead of the overall fashion accessories market
  • Cream puffs instead of the overall dessert market
  • Free and independent travelers and 1 country in particular instead of the overall travel market. More details of my travel agency niche efforts here

Picking a niche is crucial for any small business because oftentimes small businesses are, well, small, and lack the necessary funding and manpower. 

By niching down, you can:

  • Manage and serve your customers better: Focusing on a niche means you have similar customers with similar problems for you to solve. In the long run you’ll have an in-depth understanding of them and can find ways to serve them better than your competition
  • Lesser competition: Bigger competitors might not find it interesting or financially sound to go into a niche market, whereas a small business can thrive by capturing a niche
  • Being an expert: Focusing on a niche and specialising in it will position you as an expert, and who do people go to with their problems? An expert
  • Targeted marketing efforts: A smaller niche will let you market your business much more effectively with a small budget

A word of caution though, your niche size must be just nice. Too big of a niche and you’ll find that you’ll have trouble focusing your marketing efforts. Too small of a niche and you’ll find it difficult to survive

Picking a niche is crucial for any small business because oftentimes small businesses are, well, small, and lack the necessary funding and manpower. Click To Tweet

1 Day 1 Thought’s Niche

1 Day 1 Thought’s niche is Learning How to Start and Grow a Small Business

You already know about the benefits of niching down, but why did I pick this niche?

  1. It’s something I’m passionate about and I’ve been doing for more than 10 years. I don’t know everything about this niche but I definitely know more than the average joe
  2. It’s a perfect niche size: It’s not too big and broad, such as Entrepreneurship or Marketing; and it’s not too small that I might have difficulties coming out with products (in my case, content)
  3. It’s an evergreen topic: People who want to learn how to start a business has always been around, and will always be around
  4. Everyone is always interested in making more money. Content in this niche is interesting and appealing even to people who are not my core audiences
  5. There are a lot of other opportunities for monetization and expansion if this blog takes off: I could start an extension of the blog specifically for a new target audience, for example, freelancers.
  6. I’m a big believer of diversification: I believe that everyone should diversify their income, their marketing pillars, and also skills. Writing about this niche is itself an act of trying to diversify my income, and also skills.

STEP 4 – Defining products / services to offer

You already know that 1 Day 1 Thought is an information product business. So what exactly are we offering?

In a nutshell, we offer Information of various aspects of starting a small business, including

  • Basics of starting a small business
  • Small business tools, tips and tricks
  • How tos for small business
  • Industry news and what it means for small businesses
  • Small business marketing strategies
  • Interviews and stories of small business owners who’ve found success

In your case, it could be different types of products and services, different variations of the same product / service, or a complimentary extension of a product / service

In many situations, having a product or service to sell is the starting point of a small business instead of the other way round, and that’s fine. If that’s the case, build your business model and niche down according to the product or service you have to offer

STEP 5 – How will you make money?

Some small businesses are as straightforward as selling a product or service for a fee. But if you’re looking to grow, you’ll realise that a sustainable business is one that has the capability to grow different sources of revenue for the business

Let me give you an example, in my travel agency, we do not only sell ready-made travel packages, we also handle

  • Hotel and ticket bookings
  • Travel insurance
  • Data roaming needs
  • Rental of transportation
  • Tailor made private tours for families
  • Tailor made training for companies

These are all services that are well within our niche, utilize the same resources, and do not require additional investments.

When your small business comes to a stage where you are in a position to grow, look at whether you can add any new products or create a complementary service to your best selling service. The more diverse source of income you have, the more sustainable your business will be

Remember though, one mistake that a lot of small businesses do when they grow is diversifying into areas that are too far away from the core business. Having a strong ‘Why’ and a solid business plan prevents this from happening

One mistake that a lot of small businesses do when they grow is diversifying into areas that are too far away from the core business. Having a strong ‘Why’ and a solid business plan prevents this from happening Click To Tweet

1 Day 1 Thought’s potential revenue sources

For 1 Day 1 Thought, these are the few channels for us to generate income

  • Sponsored blog articles
  • Ads on site
  • Freelance writing
  • Affiliate marketing
  • Online courses
  • Consultation projects

STEP 6 – Determining your ideal customer

Identifying your ideal customers goes hand-in-hand with picking a business niche, determining the products or services to sell, and how to generate income. In a nutshell – it helps you to FOCUS

When it comes to determining your ideal customer, you need to look at 2 aspects – demographics, and psychographics

Demographics

The quantitative traits of your customers, like age, gender, job title, location, marital status, income, or education level

 

Psychographics

Traits that are harder to measure but make up your customers’ behavior, like values, opinions, attitudes, beliefs, and social status

Then, ask yourself questions like how your BEST customers are like, how they act, how they think, and where do they spend most of their time. It’s ok to have more than one ideal customer

The more you details you put into defining your audience, the more you will know about them, the better you tailor your products or services to meet their needs, and the better you can reach out and appeal to them

I find that the best way to do this is to find a picture of a person that I think resembles my best customer and write a detailed description about them – this is often referred to as customer persona

1 Day 1 Thought’s ideal customer personas

For 1 Day 1 Thought, we have 3 ideal customer personas, they are:

Meet Daniel

The white collar professional with a side-hustle ambition

Some additional details about Daniel

  • 28 years old
  • Well educated and smart
  • Works as a marketing executive in a corporation in the city
  • Sick and tired of office politics and know he wants to quit his job and runs his own business one day
  • Has an idea of starting a business buying items people do not want and refurbishing and reselling them
  • Has a knack of refurbishing items to make them look attractive but he does not have the know how to market these items
  • Afraid that he won’t have the time to manage the business
  • Has a little to no budget to start his business
  • Certain days after work, he wants to start his business but sometimes is too tired to do so
  • Very often on Facebook, Instagram, and follows a lot of news sites and also read marketing articles that is related to his job
  • Consumes a lot of information online
  • Skeptical of online gurus who are constantly trying to sell him courses

Meet Toby

The second-time small business owner

Here’s a little more about Toby

  • 35 years old
  • Owns and operates a logistics company
  • This is Toby’s second business
  • The first business was a catering business but it failed because Toby was very inexperienced
  • Toby’s current business is doing good
  • Employs 4 staffs
  • Very hands on owner and does most of the high level work himself
  • Always looking to connect with other like minded people
  • On Facebook a lot and is always looking for more information on how to grow his business
  • Has a Facebook business page, takes care of his own Facebook ads and have seen small successes in his Facebook campaign
  • However, he realises that Facebook should not be the only channel in his marketing tools
  • He likes to read informative articles he finds on the internet about small business marketing

Meet Natalie

The aspiring freelance writer

More details about her life and beliefs:

  • 30 years old
  • A Freelance writer and is in her second year of doing so
  • She usually writes for companies who sell consumer products
  • Freedom of time as a freelancer is the main reason Natalie enjoys her career
  • Her income fluctuates month by month and can be unpredictable at times
  • She sometimes have good months and some months she has minimal income
  • Signed up for a Medium membership and appreciates reading articles that are written by other talented writers
  • Regularly on teaching sites like Udemy and is always on the lookout for chances to improve her writing skills
  • Follows consumer product publication websites to look out for writing opportunities
  • Registered on the majority of freelance sites such as Upwork, Freelancer, and Fiverr
  • Spends a majority of her time on Facebook, Instagram, and TikTok, where she enjoys looking at funny videos

STEP 7 – Determining the market size

No matter how passionate you are about your small business or how good your business model or products are, your business won’t be able to survive if there aren’t enough customers for you to sell to

You might be able to survive based on support and referrals of your products and services at first (and that itself is a great indicator you’re in the right business), but it’s important to know that you have a viable market size if you intend to grow your small business in the future

There’s no fast and hard way to determine a potential market size and oftentimes a fair amount of assumption is needed, but it’s important for you to consider tangible facts and information as well

Depending on your business model, you might also want to factor in your best assumption about repeat sales. Many small business owners forget about their customer lifetime value – the total sales that can potentially be generated from one customer

Here’s an example of the market size for my cream puff business:

As mentioned earlier, I target ladies aged between 35 – 50 years old that stays within a 15 mile radius from our central kitchen

According to Malaysian 2010 census data, females aged 35 – 49 years old make up 9% of the population

According to an estimate by World Population Review, the total population of the 5 major cities within a 15 mile radius from our central kitchen is 4 million people

Assuming 9% of the 4 million people are ladies aged 35 – 49 years old. That will give us a potential market size of 364,000 people

Average order per customer is $20. Potential market value is $20 x 364,000 people which is $7.3 million

With the assumption that a customer will order an average of 4 times a year from us, total potential market value is $7.3 million x 4 which is $29 million

Knowing this, I can focus all my marketing efforts and budget targeting ladies aged between 35 – 49 years old and still make good profit

1 Day 1 Thought’s Market Size

Back to 1 Day 1 Thought, this is how I determined my market size

The 2 main countries I want to start targeting is my home country – Malaysia, and the US

In terms of trends

  1. The government of Malaysia developed a National Entrepreneurship Policy to develop the entrepreneurial ecosystem in Malaysia, giving significant attention and support for small businesses
  2. According to Salesforce.com, Milennials and Gen-Zers in the US are 188% more likely to have the aim of creating a side business, signalling a growing market of small business owners

In terms of market size

It’s not accurate for me to look at current registered business data, as there are a lot of established companies and my niche is focused on potential or new small business owners. Therefore, I searched around for data on new businesses that were registered:

In Malaysia

According to official government data, 47,000 new businesses were registered in 2019

Assuming just half of these businesses fit my target audience profile, that gives me a potential market size of 23,500 customers

Assuming I am able to generate $50 of sales per customer. That will give me $2.35 million in potential market value for Malaysia

In the US

According to Statista.com, between March 2018 – March 2019, there were 774,725 registered businesses that were lesser than 1 year old 

Assuming just 10% of these businesses fit my target audience profile and I am able to generate $50 of sales per customer. That will give me $3.87 million in potential market value for US

Granted these are only just estimations with assumptions, but as you move along in your business journey and know your customers better, you should tweak these numbers to reflect your business situation more accurately to guide your decision making and marketing strategies

STEP 8 – Sizing up the competition

It’s important to know who your biggest and nearest competitors are in the same space. Knowing who your competitors are will help you:

  • Determine the strength and weaknesses of your competitors so you can formulate your own business strategies
  • Get an idea of some of the strategies that are working or products / services that are popular
  • Spot industry trends
  • Know what differentiates you from other competitors
  • Know what are the opportunities for your small business to stand out

Depending on your type of small business and business model, here are some ways you can conduct a competitive analysis

  • Checking out your competitors’ website
  • Signing up for competitor newsletters
  • Go through reviews
  • Check out the products / services that are offered
  • Go through the sales process by buying something
  • Send your competitors an enquiry
  • Spending some time at their retail outlets
  • Add an item to your cart and abandoning the cart

1 Day 1 Thought’s Competitive Analysis

Some of the biggest players in the industry include:

  • Entrepreneur.com
  • Harvard Business Review
  • Bplans
  • Small business Trends

Competitors that are nearer to 1 Day 1 Thought include many websites that are individually owned by seasoned business owners and consultants, whom I shall not mention here 😛

After spending a full day going through approximately 50 websites, I realised something:

None of the niches seem to cater specifically for first time business owners and new freelancers. 

In other words, there is an opportunity for me to differentiate 1 Day 1 Thought through the creation of in-depth long form content that is easy to understand, and focused on starting and growing a new business

STEP 9 – Brand positioning

Brand positioning is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market

— Philip Kotler

In english, brand positioning is what people perceive your small business to be, or why do people ‘buy’ your brand?

Coca-cola : happiness

Axe deodorant : sexual appeal

Apple : Think differently

1 Day 1 Thought’s Brand Positioning

In the case of 1 Day 1 Thought, it’s relatability

Relatability

I am here to share my experience and knowledge with you; not to show you that I am better than you. Like you, I am learning too. I am a small business owner who has made my own fair share of mistakes and lucky enough to have my share of successes. Through experience and hardwork, I have earned the skill sets required to build a strong foundation for all types of small businesses and side hustles; all of which I am happy to share

STEP 10 – Determining your marketing strategy

Your marketing strategy is your game plan of reaching out your ideal customers and converting them into paying customers.

It’s tempting to want to achieve everything at once and easy to go all out when setting marketing strategies for your small business. But if you’re a small business owner, chances are you have limitations both in terms of budget and time. The keyword here, as you have guessed, is FOCUS – Achieving one thing at a time

It’s tempting to want to achieve everything at once when setting marketing strategies for your small business. But the keyword here, as you have guessed, is FOCUS – Achieving one thing at a time Click To Tweet

1 Day 1 Thought’s marketing strategy

In 1 Day 1 Thought’s case, the success for my small business and my monetization plan hinges on 1 key factor – Driving quality traffic to great blog content

As such, my marketing strategy, my key priority for 1 Day 1 Thought for this stage of the business is to first develop a strong content strategy, then generate as much traffic as possible to my content

Content Strategy

The objective of my content strategy is to:

  1. Build traffic for 1 Day 1 Thought
  2. Get new subscribers for my email list
  3. Social shares and engagement for blog posts
  4. All of which ultimately lead to income

This is achieved through the following content pillars:

Content Pillars

Topics or themes that make up your content strategy. It’s important to make sure your content pillars are relevant to your ideal target audience

  • Basics of starting a small business
  • Small business tools, trips and tricks
  • How tos for small business
  • Industry news and my interpretation of it
  • Small business marketing strategies
  • Interviews and stories of small business owners who’ve found success

The two types of traffic to focus on

Organic traffic (unpaid search results) – Organic traffic is the most sustainable form of traffic for a blog, it is also free. However, building organic traffic requires strong content marketing with SEO and needs to be a long term game. This is where my content strategy comes into play

Paid traffic – I plan to use paid traffic (mainly social media ads and Google Display Network ads) to boost visitors to my blog. In order to do so, I will need to have enough content to retain visitors and keep them coming back for more. Again, this is where my content strategy comes one. I estimate to start using paid traffic in month 2 or 3 of this challenge

Your small business might be different from mine and don’t require a content and traffic generation strategy. In any case, you need to determine what is your key priority for your small business and how you are going to focus your resources to achieve it

STEP 11 – Setting business goals to determine what success looks like

Where will the roadmap lead to? What are all your efforts aimed at achieving? Having a goal that defines what success is helps you to create an action plan and enables you to track your progress.

Goals need to be S.M.A.R.T – Specific, Measurable, Actionable, Relevant, Time Bound

1 Day 1 Thought’s picture of success

Since my key priority is to drive blog traffic and generating content, my goals for 1 Day 1 Thought is:

  1. Creating a minimum of 1 piece of long form blog post of 1500 words and above per week
  2. 15% visitors increment on a month on month basis
  3. 800 subscribers by the end of the challenge period
  4. 1000 Facebook page likes by the end of the challenge period
  5. $1000 Monthly income generated from the blog by the end of the challenge period

STEP 12 – Formulating a budget

A small business budget does not need to be complicated, but it does need to be able to give you these information so that you can make informed decisions

  • Business cash flow (income vs expenses)
  • Allocation of capital for different aspects of your business (such as tools, salary, and marketing expenses)
  • Revenue sources
  • Survival runway – how long your business can keep afloat if you have 0 sales

1 Day 1 Thought’s budget projection

In 1 Day 1 Thought’s case, this is my budget projection:

The total capital required to stay afloat is $1,134. The beauty of this simple budget is:

  • Knowing that I have this sum capital available and being able to afford to lose it lifts my psychological burden and will allow me to focus my mind on growing 1 Day 1 Thought instead of worrying unnecessarily
  • Realising that consultation projects and affiliate marketing might need to be my biggest revenue challenged my initial assumption of the business model. I originally wanted on-site ads and affiliate marketing to be my main source of revenue. I might need to tweak my content strategy to cater to this but I’m undecided right now. Well, at least this got me thinking

STEP 13 – Anticipation and preparation

Many business plans help define the end goal, roadmap, and strategy nicely; but few address the issue of reality. A well written business plan might look perfect on paper but when it comes to execution, anything and everything can go wrong. This is especially true when your small business is starting off as a side hustle.

If you don’t anticipate and prepare for challenges facing your business, any small setback could mean the end for your small business

Some of the questions you need to ask and prepare for is

  • What are the challenges your small business might face and how do you plan to overcome them?
  • What are the skill strengths and gaps that you need to cover in order to run your small business efficiently
  • The required time commitment

1 Day 1 Thought’s biggest challenges

The three biggest challenges I foresee my business facing are

Time commitment

1 Day 1 Thought is going to be a side hustle for me. That means that other commitments, such as my travel agency, family, and other projects might prevent the progress of this blog

To overcome this, I’ve created a workflow process for the tasks I need to complete for 1 Day 1 Thought and set aside blocks of time in my calendar to work on them

Generating traffic and income

This is my first attempt at building an information product business that relies almost solely on traffic. As much thought as I have put into the content creation, there are bound to be things that I’ve missed out and have not planned accurately

This is a skill gap I need to cover. Therefore, I’ve identified a few top content creation sites to follow and joined some free courses on content creation. I’ve also taken this into account and given myself the flexibility of tweaking 1 Day 1 Thought’s goals on a monthly basis

Doubt

Self doubt is something I believe all entrepreneurs will face – that pessimistic voice inside that judge what you are doing and always looking at how things can go wrong

The best way to overcome this is to learn to accept the fact that things can and do go wrong, and failure is bound to happen. No matter how much we prepare, there are many things that are beyond our control. So long as I have put in my best effort and planning for the things that I can control, I choose to just enjoy this journey

… and with that, we have completed our Comprehensive Business Plan! 

Relax!

If you’re feeling overwhelmed, don’t be. As long as you have put in some thought and jotting down the key priorities of what makes sense for your business, you’re good to go. Different people function better using different tools, and a comprehensive business plan is just something that I happen to enjoy. If you prefer, you can even use a 1 page business plan such as the one from the $100 Startup (I used a similar version for my trinket company)

Starting and growing a small business should be an exciting journey. If you’re not feeling slightly overwhelmed, it could mean that this project does not excite you enough, and you might want to go back to the drawing board to relook at your ‘Why’

Remember also to not get too hung up with the details of your business plan. End of the day, taking action and constantly improving is what’s going to make your business successful

Welcome on board to this exciting journey!

Join this ultimate challenge’s progress!

If you would like a copy of this template, just enter your email in the form below. I will also keep you updated about this Ultimate Challenge and other new content from 1 Day 1 Thought



Cheers,
Kenneth

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