How to Write a Business Plan for the First 90 Days of Your Startup

How to Write a Business Plan for the First 90 Days of Your Startup

Starting a new business can be an overwhelming task, especially when you’re trying to navigate your way through the first 90 days. While it’s essential to have long-term business goals, it’s equally important to have a short-term plan for your startup’s success. In this blog, we’ll take a closer look at how to write a business plan for your startup’s first 90 days, covering everything from setting goals to measuring success.

Define Your Business Goals

The first step in writing a business plan is to define your business goals. These goals should be specific, measurable, achievable, relevant, and time-bound. In other words, they should be SMART goals. Your goals should also align with your vision and mission statement.

For example, your business goal for the first 90 days could be to acquire 100 new customers and generate $50,000 in revenue. This goal is specific, measurable, achievable, relevant, and time-bound.

Identify Your Target Audience

Knowing your target audience is critical to the success of your business. It’s essential to understand who your potential customers are, what they are looking for, and how you can meet their needs. Conduct market research to identify your target audience, their demographics, pain points, and preferences.

For instance, if you’re starting a handmade soap business, your target audience could be eco-conscious consumers who prefer organic and natural products.

Develop a Marketing Plan

Once you’ve identified your target audience, it’s time to develop a marketing plan to attract them to your business. Your marketing plan should outline the tactics you plan to use to reach your target audience, such as social media marketing, content marketing, email marketing, and advertising.

For example, you could use social media platforms like Instagram and Facebook to showcase your handmade soaps and use hashtags to reach a wider audience.

Create a Sales Strategy

Your sales strategy should outline how you plan to convert leads into paying customers. It should include details about your sales process, pricing strategy, and customer acquisition channels. Determine how you’ll handle customer inquiries, onboard new customers, and manage customer relationships.

For instance, if you’re selling handmade soaps, you could offer a discount to first-time customers to incentivize them to buy your products.

Set Financial Goals and Budget

Your financial goals should align with your business goals. It’s crucial to determine your startup costs, expected revenue, and expenses for the first 90 days. You should also create a budget and track your spending to ensure your business remains profitable.

For example, if you’re selling handmade soaps, your startup costs could include materials, equipment, and packaging. Your expenses could include rent, utilities, marketing, and shipping.

Measure and Adjust Your Plan

Finally, it’s essential to measure the success of your plan regularly. Identify key performance indicators (KPIs) that align with your goals, such as revenue, customer acquisition, or website traffic. Measure your KPIs regularly and adjust your plan based on the results.

For instance, if your marketing plan isn’t driving enough traffic to your website, you might need to adjust your strategy or increase your advertising budget.

In conclusion, creating a business plan for your startup’s first 90 days is critical to its success. By setting SMART goals, identifying your target audience, developing a marketing plan, creating a sales strategy, setting financial goals, and measuring and adjusting your plan, you’ll be well on your way to building a successful business.