How to Create a Business Plan That Gives You Focus, Power and Profit

Let's explore why your business plan is your ultimate roadmap to success.

Starting a business can be one of the most exciting, yet daunting, adventures. Maybe you’ve just been laid off, and while it feels like a challenge, it's also an opportunity. This is your chance to turn a passion, or a skill set into something that belongs to you. But—and this is a big but—starting without a plan is like setting sail without a map. Let’s break down why creating a business plan is so vital, especially if you’re transitioning into entrepreneurship after being laid off.

A business plan allows you to shift from reactive to proactive. It forces you to slow down, evaluate your market, define your goals, and clarify how you’re going to achieve them. This is especially important when finances are tight. Having a concrete plan allows you to identify potential expenses, forecast revenue, and create contingency strategies.

Think of it this way—if you were interviewing for a new job, you’d come prepared with research and answers. Launching a business is no different.

One key benefit is focus. It’s easy to chase shiny new ideas, but a business plan forces you to stick to the essentials. It helps you filter opportunities through the lens of your core goals.

For instance, if you want to start a consulting firm, your business plan will ask: who are your ideal clients? What are their pain points? How can you uniquely solve their problems? Answering these questions sets you apart.

1. Executive Summary – This is the elevator pitch for your entire business. Who are you, what do you offer, and why does it matter? Think of this as your first impression. It should also cover how you’ll be paid and will the income be transactional or have some form of continuity built in.

If you’ve been with me for some time, you’ll know why you should probably stay away from transactional businesses and focus on continuity. If you want the easiest, best life, continuity is the key.

2. Market Research and Analysis – Understand your competition and your customers. What gaps are in the market, and how will your business fill them?

Inside the academy, I’ll show you some super easy ways to do this. It doesn’t have to be complicated.

3. Marketing and Sales Strategy – How will you attract and retain customers? This could include social media, email marketing, or partnerships, joint ventures, and a lot more.

Now let me expand on this and this is very important: This is the advice I got for decades. But what is it and how do you do it. Until I met some truly great mentos late in my business life I didn’t really know. After getting involved with his group, my business income almost doubled in a few months using just one strategy. These are the secrets I'm going to share with you and are inside the Academy.

Understanding your client, customer, or member as well as they know themselves or even possibly better is an absolute must. When it comes to your business. You must know all of their wants, desires, pain points and aspirations. And what it will take in order to get them to do business with you on an ongoing consistent basis. Inside the Life Better Design 360 Insider Academy and community, we have amazing resources for doing just this. Understanding what marketing is and how to do it right is one of the most important pieces of your business because if you can't get new clients, customers, or patients to come to see you, your business will die very quickly. If you understand exactly what it is, that can make them come to see you automatically at any time. Your business has a much, much, much better chance of success, and even potentially stellar success.

4. Operations Plan – The nuts and bolts. How will your business run day to day?

5. Financial Projections – Here’s where you crunch the numbers. How much money will you need to start? What will your expenses and revenue look like for the first 12 months?

6. Goals and Milestones – Break down where you want to be in 6 months, a year, and beyond. Also, include a start date and stick to it.

Your ultimate job is to do 2 things. One is to oversee the business and make sure that you are replacing yourself with terrific employees. This includes key and non-key positions. Ultimately, you will want to mostly replace yourself to build financial freedom. These positions are going to be administrative. And all areas other than oversight and marketing.

Then there is marketing. Marketing is the key lifeblood of your business. And you should be in control of it. You should only replace yourself once you have a firm grasp on what brings new customers, clients, or members to your business on a consistent basis. You should be able to turn on and off the new. Customer, client, or patient? Spicket. With your marketing plans automatically at anytime. Then and only then, should you Put people in place. To do the marketing for you and then you need to watch it very carefully.

 Now, let’s talk long-term. One of the greatest benefits of having a business plan is adaptability. It’s a living document. As you gain more clients, new competitors emerge, or market trends shift, you can revisit and adjust your plan. This helps you stay grounded and responsive without losing sight of your goals.

Entrepreneurs often face moments of doubt or burnout. A business plan can be a source of motivation. It reminds you of why you started, the progress you’ve made, and the vision you’re working toward.

Here’s a pro tip—keep your business plan somewhere visible or easily accessible. Review it monthly or quarterly. This isn’t just for investors or banks; it’s a tool for YOU.

 So, if you’re thinking about launching a business after a layoff, take this as your sign to start crafting that business plan. Start with small steps. Outline your vision, research your market, and sketch out your goals.

Remember, you’ve already overcome one hurdle—a layoff—and now, you have the chance to build something even greater. You’ve got this.

If you've been laid off or in between jobs or just unsatisfied with the job you've got, be sure to go to lifebydesign360.com and get on our mailing list. Each week you'll get important updates on new podcasts that can help you get the job you want now, create a side hack and an income that you can never get fired from and get on the fastest path to retirement success and financial freedom.

And be sure to look out for openings in our LifeByDesign360 Insider Academy and Community. There you’ll find all the coaches, the courses, the resources, and an amazing community of people going through what you’re going through, who are utilizing the tools for maximum success.