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Sensei Ono, founder of Shinka Martial Arts, is a teacher and student of life. His passion for helping others and self improvement is the purpose behind this blog. -- "If your purpose in any way includes making the world a better place, I urge to you read, and share the knowledge."

How to make a business plan

There is basically two business plans that you'll generally need to make.

The first, is for yourself, which is going to be the focus of this post.

The purpose of it is to attain clarity in all aspects of your business. To understand all the if-this-then-that stipulations, and to PICK A DIRECTION.

The basic things you'll want to cover are your USP, which is basically the reason people would buy from you (better quality, cheaper price, easier to get, faster etc).

Caution: Most people's natural intuition is to compete on price, but, longevity of a business is difficult to attain when specializing in this area, and, it is usually best to compete in perceived quality or selection; as that is more difficult to challenge (depending on the industry)

The more unique something is, the greater the risk becomes, and the higher potential for profit.

You can get a basic business plan outline from books such as The business planning guide, and of course, the ever popular Business plan kit for dummies.

But, ultimately, there is art, and science in the creation of a business plan for yourself. One of the most important aspects which I cannot stress enough, is to think of your exit strategy for your business.

That is, how will you make it function without you, (an excellent book on that is the e-myth) and ergo, make it something you could sell.

Most people say "I never would want to sell my business" that's fine, and that isn't the point. The point is, you want to be ABLE to sell it.


Because you do not want to leave a million dollars to your children.

"You don't!?"

Heh, read on...
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Passionate Passive Income is all about learning how to get rich. Comments, questions and suggestions are always welcome!