The following is a guest blog post written by Sarah Rose Stack, Director of Business Integration:
Successful businesses create a strategic plan so they can measure, monitor, adjust and control their results. Don’t wait for January to make your plan. December is the perfect month to create a solid plan of action for 2019. Here are some suggestions for making a well-rounded strategic plan for your UnFranchise Business.
Decide What You Want:
Define your dreams and purpose by asking yourself “what do you want”?
- To Live: House, Mortgage payment, car, boat, debt free, vacation, mission, more time?
- To Love: Something for your family, spouse, relatives, friends, community?
- To Learn: A new language, music, cooking, reading, scuba diving, new skills, passions?
- To Leave: A legacy, foundation, scholarship, charity, tithing, willable assets, trusts?
Decide When You Want It:
All great goals are accompanied with target dates and are measurable.
- Set target dates for achievement
- Measure your progress
- Adjust the date or the goal to be in line with reality
Determine a Short Term Goal Action Plan:
Short-term goals can typically be handled by increasing your cash flow. Think of a few that you may have on your list. Items such as buying a new computer or paying off a credit card are great examples of goals that can be met by increasing your cash flow now through retail profits.
- Begin by identify which of your goals are short-term goals and then calculate how much money it would take to handle them.
- Next, give yourself a deadline that you will achieve your short-term goals by.
- From there, determine how many sales you would you need to generate in order to earn that retail profit.
- Finally, create a plan for how you will generate those sales. Will you create sales through a retail specialty? Will you host a retail event? Don’t forget to be specific and make sure you have dates in your calendar for any events or retail-focused activities that you plan to do.
Determine a Long Term Goal Action Plan:
For goals that would be best met by increasing your ongoing income, you’ll want to create an action plan for growing your UnFranchise Business Organization.
- Start by identifying your next monthly ongoing income goal. As a new UnFranchise Owner, a solid initial goal to map out would be $300 per month.
- Remember, commissions are paid based on group volume accumulated in your business. Therefore, you need to build a solid organization that generates ongoing volume from personal-use and retail sales.
- To generate $300 per month, you’ll want to build to Base 10, 7 Strong, which is an organization of 7 UnFranchise Owners, including yourself who are all using their own products and creating sales to about 10 customers.
- Choose a period of time that you will measure your success. People tend to build in 90-day increments, so a 12-week period is a great place to start.
- Determine how many new business partners you need to bring on board (personally and as a group) over the 12 week period to achieve your goal. Keep in mind:
- A new UFO should have a personal-use goal of 100 BV per month and a retail-goal of 300 BV per month, for a total of 400 BV per month.
- If you had 3 partners on your left each doing 400 BV per month and 3 on your right doing the same, you would be accumulating a total of 1200 BV on your left and 1200 BV right each month from your organization.
- Statistically, if you show 4 prospects the plan, 1 will launch their UnFranchise.
- Therefore, if you wanted to bring on 1 new partner, you would want to show 4 plans. If you wanted to bring on 6 new partners, you would multiply the 6 partners by 4 plans to get a target of 24 plans to show.
- Remember, you are paid on group business volume, so some of the plans you show will be to personal contacts and others will be on behalf of your new business partners and their prospects.
- Finally, break this down into a weekly plan. Divide 24 plans by the 12 weeks you allotted yourself. Your action plan to get to $300 per month per would require you to show 2 plans per week, which could bring on 3 new partners on your left and 3 on your right. You’ll also want to make sure they are generating volume from personal-use and retail sales. As you continue grow, keep in mind that your UnFranchise Owners will also begin to master the Shopping Annuity. As they do that, their personal-use will increase causing more group volume and causing everyone to achieve their goals quicker.
Write It Out On Paper And Read It Every Day:
A great goal statement is written down as if it all already happened.
For example, “Today is (your target date) and I am enjoying (some of the things you determined you wanted). I am paying for (some of those items) by retailing (your retail goal). My business is growing and I now have (target number of UFO partners) in my organization and I am earning (your target commission) per month. My business is growing, my family is happy and I’m excited for even more positive things to come”.
What are your business goals for 2019? Let us know in the comments below.