Now let's go over very basic business planning.

The reason is basic is because we don't want it to waste too much of our time and we don't want it to

be counterproductive which is sometimes it's confusing.

And if it's confusing it wastes time then that's not the purpose of it.

The purpose of it is to give us clarity and to kind of shape our vision a little bit.

So let's go over a very simple it's not a formal document.

We just need to create a sinked strategy that's a little bit cohesive.

And what I teach is only a three sentence business plan.

Of course I teach a lot of business planning but I almost always target people with a three sentence

business plan because it helps to people people to focus on the core of the business and what's important

and every business has these three components of course your product or service you how you will promote

your product or service and how you will make money from that product or service.

The most important thing is that you do not get carried away.

Do not go overboard.

What's really important is that these three components these three sentences that they work well together

for example the marketing strategy that you choose is one that's effective for your product and the

final finances are money zation supposed to work also for your products.

They should play together well.

That's the purpose of business planning.

That's the idea of having a cohesive strategy.

So let's go over a couple of very basic examples just so you can see for yourself how simple this can

be if you focus on the core aspect of the business.

Let's do the first one lawn care business.

Very popular business for kids and children.

So that last one.

OK.

It's obviously the first one and says hey lawn care business or gardening or more lawn care mowing all

those things and you can promote this business on Yelp posting local flyers or even going to door to

door very basic strategies.

But these are strategies that people can begin to execute.

And of course my position for this business is very simple as well.

People pay per job and the ideal thing is to retain clients when you have regular clients.

You build a base of regular revenue that's weekly or monthly or however often people want that service.

And so you have a growing steady stream of revenue over time and that completes the business and the

if you can execute this.

Okay you'll get some clients that we can execute this really well.

You will get a lot of clients and if you execute this really really well you have to get more kids to

more more lawn's because there will be more work than there is to go around.

And that is the basis for actually making this a big business even though it's not a super exciting

business.

It is a it's a needed service and there's a big market for this and this can become a big business.

Now let's do another one.

If your child is good at creating crafts or little you know maybe with something with their hands perfect

it can be something really simple to be a decoration on and you know take on an existing product and

just making it more creative more visual anything.

So you can create a product here I'm calling it a widget just for the sake of I don't you know I don't

know what the product may be and the marketing is selling this product on Etsy.

Very very simple accessible for kids.

And the revenue will come from sales from transactions.

And of course if you can create product and find ways to sell them and find a market for them and demand

and find ways to create them quickly then it becomes profitable.

And if you get into a high demand niche for a product then there can be significant revenue.

How significant.

Well Tom Keith Some people make six figures on Etsy alone and some people make seven figures on Etsy

even.

Even so really the sky's the limit.

It's all about your execution.

Start small in all these businesses work your way up and remember what I said.

You can make a lot of money with almost any business.

The goal is to make yourself an amazing entrepreneur in that business with all those success skills

and the better you become out of the more your business will grow.

And so very simple but it all starts with a very simple plan that you can begin to execute.