Over here at Business Athlete we want to be sure we're giving our readers advice that pertains to them, and that includes our business owners. I was inspired to write this blog post after working with one of my former clients. He had big dreams for his business and wanted to do it all, from billboard advertisements, email marketing and social media. The only issue was he had no idea where to start and didn't have the funds for it. He then asked me to find innovative ways to achieve the same goals with little to no budget. When I simply explained to him that this was not a possibility with the goals he had in mind, he was quite frustrated that he found himself with this dilemma.
So what could have prevented all of this? The simple answer: roadmapping. Now he had a business plan, he had all of his KPI’s and his expected outcomes for the year but he didn't roadmap his individual initiatives. For example, let's say he expected his business to grow 20% in revenue in the first quarter through email marketing. That sounds great, but the problem was he didn't consider how to get there. He didn't factor in the cost of email marketing services, and he also didn't factor in how he would build his database. He only had around 1,000 contacts to market to, with no goals on how to acquire more leads. When I suggested ways in which he could get more leads he didn't realize the cost associated with it. He didn't realize the cost of redoing his website to support landing pages and forms, and he didn't realize that sponsoring events to get leads would also take a chunk of his profit. Had he made a detailed outline of how exactly he wanted to grow his business by 20% with email marketing he would have been able to account for these costs.
Now why am I telling you all of this? Simply because this is a mistake that many small business owners make. I've seen people have either arbitrary or very specific goals, but no method on how to reach them. As you become more ambitious in your goals it's important to set out a roadmap on how you're going to achieve each individual goal, so that way there are no surprises down the line. You want to be able to achieve those goals without affecting your overall bottom-line. So it's important that in the beginning of these initiatives you either sit down and make a road map for yourself or reach out to someone who's an expert in this area and have them roadmap it with you. Either way be sure to have your detailed plan before jumping into anything that way you can ensure success for your small business.