The most common reasons a business fails is because of the complete absence of a business plan or because a well intentioned business plan wasn't detailed enough, or just fell by the wayside. A business plan is often the most overlooked factor in a business ~ and often when not overlooked, it does not contain the basic elements or flexibility. You have to be able to go with the flow, yet within the confines of the basic plan. Think of it as a river. When the river flows within it's banks, it gives nourishing life to the environment around it that depends on it. When the river overflows it's banks, often mayhem and destruction are the result.

Elements of a Business Plan ~

• clean out dead wood
• identify two main competitors, use them as your mentors
• identify business goals ~ short term and long term
• identify goal timelines with flexibility
• identify cost effective resources needed to achieve goals
• establish a cost effective marketing and promotion budget
• use your traffic stats to give you maximum benefits ~ they tell you what your visitors / customers are really looking for
  
• identify meaningful trends and know when to take action and when not to
• run an effective marketing campaign
• conduct a quarterly revamp of your business model ~ identify strong and weak points

Now, how do you go about doing all this?

Sit back and take a good hard look at what you are selling. What sells well and what has sold well for you. Clean out dead wood. Document ALL of your findings.

Next, identify two competitors who sell close to what you sell. Analyze their venue. Note what they do-have-offer. Compare what you do-have-offer and what you don't. NEVER COPY THEM. That's not right or ethical. Instead learn from them. Monitor them at infrequent intervals. You'll see a basic trend emerge over time.

Identify long term REALISTIC goals first, short term REALISTIC goals second. Identify what short term ones can be accomplished ~ and then set your timelines accordingly.

Indentify resources needed to accomplish the goals ~ first materials, then promotion and marketing. DO RESEARCH and plenty of it. Then create a procurement budget for materials needed, then a budget for marketing and promotion. I can't stress it enough ~ stick to your budget. Don't skimp, don't undervalue what you need (cut yourself short) but stick to your budget so you do not overspend.

Utilizing traffic stats (especially keyphrases as they tell you what your visitors/customers are looking for), identifying trends, knowing when to make a move and when to sit on an idea and refine it takes experience, a good bit of time, and an acquired instinct. Never expect quick results or quick fixes ~ they only band-aid a situation and frequently can make it worse. Better to work slower and with more thought than to charge ahead.

Periodic revamps of your business model are healthy ~ analyze what's happened, what works, what doesn't, what might need more time, and some fresh ideas you have collected from your ongoing research.

If you choose to hire someone to do this for you, ask as many questions as you need to until you are comfortable.

They should provide you with clear, detailed answers, demonstrating genuine expertise and experience, as well as answer you in a timely manner and in a courteous fashion. They should always provide answers in writing (email) as well as provide you with client testimonials that you can contact independently should you feel it necessary. Go with your gut instinct, not with trendy, quick answers. They should provide you with excellent customer service before you hire them.