J. Anthony Allen walks you through a four-objective framework for your business plan: service, profit, social, and growth. Write one sentence for each, then combine them into a unified statement that clarifies your purpose and communicates it to employees and stakeholders.
Okay, in this next section, we're going to do a little exercise, and the point of this is to start to put together your business plan. This isn't going to be, you know, all the nitty gritty stuff you need in your business plan, but this is going to help us start to formulate how we want to start thinking about our business plan and how we want to think about our business. This is a great little project. It doesn't take long to do. You're gonna be done with it by the end of this video. I'm gonna do it with you or this section of videos. But it's really useful, and I find that when I do it for my businesses, it helps me kind of put a lot of things that I'm thinking together into one solid thought. It's like you have these many thoughts about how things are gonna work, and this exercise tends to help clarify those things that, that gets, you know, so you can get them down on paper, you can convey them to other people. And that's really important when you're starting a business because hopefully you're going to have employees and you need to convey what this company is all about. So what we're going to do is we're going to find these four objectives. So each of these objectives, we're going to try to write kind of like one sentence or so. If it's like two short sentences, sentences, sentences, that's fine, but we're going to try to write one sentence for each of these objectives. Now, the way these work is each objective connects to the others. So first we're going to think about them independently, but then we're going to think about how they will work together. So as we're coming up with these single sentences, think independently, think only about the one objective that, that we're talking about so far. Okay? So the four objectives are the service objective, the profit objective, the social objective, and the growth objective. Okay, so I'm going to do this with you. So let's examine each one in turn in its own little video. And I'm going to write a sentence for my own uses as well, and I want you to do the same. So let's go into a new video for each one of these, and then at the end we'll put them all together and see how it turned out.
