How to Bootstrap a Business Plan in 5 Easy Steps

Having a blog and stalking the Dot Com Lifestyle doesn’t really mean anything these days. Everyone has one and everyone is doing it. So what do you do now?

For starters, remember that basic business principles still live on the web–including the good old fashion business plan. Don’t expect to get too far into the game without having one.

A bootstrapped business plan is simply a business plan that is ultra-concise: a brief but powerful overview of how you will run your online business, including your blog. No pie charts, no research teams, no 100 pages–just a very precise plan of action.

If the idea of crafting business plan turns you off, then think of it like a Sherpa–something to guide you on your trek to the summit. Go up without one and your odds of survival certainly plummet.

Follow these simple and straightforward steps and you can have an actionable business plan in 30 minutes or less:

Before You Start…

I’ve set 3 simple rules I strongly recommend you follow:

1. You have to be really pumped about what you’re doing. I’m talking Gary Vaynerchuk crush it pumped. If you’re not passionate about this, then why are you doing it?
2. Keep steps 1-4 of your business plan to a single page. That’s one side of one piece of paper. By sticking to this constraint, you set fair limits on the time and energy you expend. Plus, changing the plan later on is no big deal. You can take as much space as you need for Step 5.
3. Write with zero distractions. That means no email, no Twitter, no Saturday Night Live. I recommend you print this page, step away from your computer, find a sharp a pencil and piece of paper and situate yourself in a clean, well-lighted place.

Step 1: Vision

Your Vision is the sum of your dreams, the core motivator behind your work. At the top of your page, in big bold letters, write the word “Vision.”

Under that, write out and complete your choice of one of these sentences: “I want to be the world’s leading guru on…(fill in the blank)” or “I want to revolutionize…(fill in the blank).” Example:

I want to be the world’s leading guru on sea salt.

Step 2: Goals

Directly under Vision, write the word “Goals.” Goals are what you strive for–concrete objectives that manifest from your vision. List your top three goals and be specific. Example:

1. Gather, study and become an expert on every known variety of sea salt in the world.
2. Be the most highly sought-after sea salt consultant ever.
3. Earn a minimum of $250,00o per year.

Step 3: Strategies

Under Goals, write the word “Strategies.” Strategies are the fixed, big picture activities required to achieve your goals. Going horizontally across the page, list up to 5-6 strategies. Example:

(The five Strategies you see here are quite common in blogging/content marketing, so feel free to use them.)

Step 4: Tactics

Tactics are the specific, actionable steps required to carry out your strategies. Directly below each of your strategies, list as many tactics as you feel you need, but not so many you get overwhelmed. Remember that each tactic requires considerable work and commitment. Example:

Step 5: Tasks

Tasks are the least glamorous but most critical part of your plan–they represent the actual work required to run your business.

Under each tactic, list the actual steps you need to perform to put the tactics into action. Be detailed but not cumbersome. For example, under “Networking”:

Partnerships

• Hawaiian salt farmers: meet president in Hawaii for networking, offer blog sponsorship for exclusive rights to market Hawaiian salt
• Acme Salt Corp.: contact director of marketing by July for talks about co-sponsorship
• The Salt Network: Prepare proposal for Sea Salt segment on The Salt Hour

For this section, take as much paper space as you need. Your tasks will be the most fluid and expanding part of your plan as you discover new methods, people and opportunities along the way. Just make sure you can keep up with them!

That’s it! Pretty straightforward stuff to get you on track with your business.

Once you’re finished, you might want to try reading Yaro Starak’s milestone post on the 80/20 Principle. It’s about prioritizing your work for maximum efficiency–very important stuff, but way too much to cover here.

Flickr image by tinou bao.