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How to Write a Five-Year Business Plan

Getting You Through Graduate School, The Job Market and Tenure…

❶We often talk about future hopes but perhaps just the simple sitting down together and writing them out will help!

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I chose to break mine out by High-Level and Ground-Level view. As I wrote last week:. What I recommend you do once you have populated your plan is to manage it in a productivity management tool with tasks. But my tasks number in the thousands on an annual basis. The way to track your progress and create tasks is to use tools like Microsoft Outlook, Trello, OneNote, Evernote or whatever you desire. Everything has moved electronic, so only having this written by hand is a big mistake!

But make sure you have this in an electronic document to track your tasks. I personally use Microsoft Outlook Tasks. This is a great way to go. It works or me but it may not work for you. So find what does work. You may be familiar with this. They have a free trial on their site and you can find additional information on YouTube and Google.

You have to hold yourself accountable. A plan can be a living, breathing document if you actively follow it. And last, but not least, know this most important principle:. Your plan will change too. Your tasks will change. Chances are, your overarching objective should remain the same. Maybe, that too will change. Give it deep, meditative thought. Get to the core of who you really are. Then, go forth in confidence and live your dream. If you enjoyed reading this piece, please be so kind as to share and recommend to others.

Also, please consider following me here on Medium! My upcoming book on Values is due out this Spring. Make it brief, "hard hitting" and highly focused on achievement. Display the talent of your management team. Like a resume -- only more interesting -- management team biographies increase the credibility of your executive summary and all projections that follow. If you are a one-person management team, be sure to emphasize all your skills. For example, if you are strong in technology and accounting, be sure to mention your marketing, customer relations and operations skills.

If you're going to "outsource" these functions, explain how you plan to use other experts and whom you're considering. Describe the products or services you offer, in detail. Clearly state sound reasons that your products are currently viable and how you will react to future challenges in the market.

Create financial projections for the next five years. Include income statements, balance sheets, and cash flow estimates.

For years one and two, show Income and cash flow Statements on a monthly basis. You can use quarterly projections for years three through five. If your starting a small business, you can estimate your balance sheet on a semi-annual basis because you probably expect few major changes. Write a detailed "narrative" to explain and support your financial projections. Keep your plan thorough, but clear. Exotic, colorful graphs or other additions are unnecessary in most cases.

Anticipate and prepare answers for questions that may come from readers. I also created a Pinterest board as inspiration and because I was so excited of our plans.

I was even geeky enough to create a colorful pie chart with the anticipated cost to do these things so we can see what type of money we need, prioritize, etc. I do love long-term plans and agree that the act of writing them down somehow helps us hit or at least get closer to the goals than we otherwise would.

So sorry, but just ONE goal? A few things I forsee in the next five years for us: I read a Richard Foster book a few years ago that contained this little quote that changed the way I make goals: This is so inspiring!! I love it when I get the chance to look ahead and think big. He is a man with simple needs and often quite content with the present. We often talk about future hopes but perhaps just the simple sitting down together and writing them out will help!

I was trying to type out what I felt without sounding like I was putting down my husband, but you said it so much more graciously. I saw your life list includes seeing Loy Kratong in Thailand. I am obsessed with south east Asia, as it is super affordable except Singapore and awesome and so very friendly. In , we built a house that we could stay in until the kids graduated and set up a year plan.

So we began to think of ourselves as Californians…until the opportunity for a 7 month road trip came into play, so we planned an adventure instead of staying put. Then, we finally got serious about settling down in our beloved city of Portland, OR. We were there for 5 months before my husband was re-located to Seattle, WA.

THIS was the house we would make our long term home…. This is such an inspiring idea. I have been thinking about my future plans a lot this year and they include, setting up my own blog and website, settling down with my partner, starting a family and finishing my psychology qualifications.

I am happy to say that three out of these four are already in motion. I have thought about a 5 yr. Just start by asking about dreams and goals, and eventually let it naturally work itself into a plan.

Thanks you for sharing and inspiring us to dream and plan! But I do think it is about time to be clear about what I want and still keep that space for being in His Will. Wow I really need to do this. I have several goals I would like to accomplish in the next five years.

A couple of them would be to fix up our house and to become debt free. Thanks for the inspiration to write it all down! And I looooove the idea of making a board on pinterest for it.

I find having some big picture goals defined like this helps me to make the decisions along the way that help me get there. This is especially true with money. I can always ask myself, would I rather spend money on this thing that I sort of want in the short term or do I want the big goal next year or whenever it is.

I love how you kept it short and simple with just a paragraph per year. I think the two together work perfectly. In my five year plan, making the online world my main source of income, so we can be a nomad family is on our list. We lived in Kauai for three years, and now we are in California, but France is on my list.

Thanks for sharing yours. And we just visited Bend last summer for a family road trip to Portland, Oregon. Our friends have a house in Sun River. We had a blast. We got to snowboard in July for our 6 year anniversary. Thank you for this inspiring post! I love the quote about with out a plan…just a dream. I often talk about things I want to do, but I think your right you need give yourself a time frame to make it happen.

We made a five-year-plan before we got married, and now we laugh at it. I love your plan! It really is a bit intimidating in a way…must stay out of ruts though!!! For the first time in my life, I am living precisely where I want to be for a looooong time. My previous long-term plans always involved a big move. I love the idea of establishing a five year plan for our settled life. We tend to be very spontaneous, but too much spontaneity and one may not end up doing to really important stuff.

So it IS good to plan, and then also plan to be spontaneous! Hubby and I really need to do this. Our house is now an empty nest and we need to decide what direction we want to head next! Thanks for the boost, Tsh! Going to visit your Pinterest board now….

Love this…You have obviously thought and talked and vibed with your family the highlights of your five year plan…What if we pray about this and have it written down…how awesome it did be for it all to fall in place all acc.

I am going to get started on mine…. I love your 5 year plan. We are planning out our next three years. Love the pinterest idea. Doing something big like taking a year off to travel with your family is much easier, in my opinion, when the kids are younger — in elementary school.

Once they get older, they get into their special interests and commitments and it gets trickier and more complicated. So- your timing on that looks good! It was mandatory for us my parents were military and we loved moving all the time. It just never occurred to me that constant travel could be elective! Our kids love, love, love to travel. But we absolutely take in to consideration their needs and desires, because those are highly important and they play a major role in our family plans and culture.

As of now, though, something like this would be ideal for them. We really need to do this! We have been talking a lot about things we want to accomplish in the next few years, but putting it in writing and with a little more substance — this is what we need to do.

I love the idea of making a Pinterest board for a 5 year plan. I gonna have to borrow that idea! It would be awesome to write it out so we can be reminded of our goals. I just started reading your blog about 2 months ago because of your no-poo and oil method for your face and hair.

Thanks for the all the encouragement! My husband hates 5 year plans. We are debt free, but I know a car will be needed within 2 years.

We are working on building up the savings to buy it in cash or mostly in cash and pay it off early. Not bad, as there are 28 years left on the mortgage. We have hatched a 7. Inside that, we plan to celebrate my 40th bday and our 20th anniversary by taking the fam to New Zealand in If all this works, we may move overseas when my twin girls turn 16 in I expounded upon this on my blog in the form of five pointers to help you create your five year plan drawing from my ministry experience.

Having my kids set yearly goals is something I am good at, but we have not gone beyond that much. They are old enough to get the point and have good input. I think it will be a good family bonding activity too. I have been putting off creating my business plan but I feel motivated after reading your post!

I love your blog! My husband and I were actually talking about what we want the theme of our life to be in years from now. I also think doing your 5 year plan in pinterest is awesome and I will probably use that! This is a well-timed blog post. Thank you for sharing it with us. This was an exceptional post. I also loved your one paragraph per year descriptions.

We have oodles of kids and my husband is desperate to change his job. We were talking about a five year plan to pay off the house and think about doing something different employment wise.

I recently realized I completed a bunch of big items off a list I made almost 10 years ago. They were just fun ideas.

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Jul 19,  · In a five-year business plan, you should convince the reader that your products/services are marketable now and will continue to be popular in the coming years. Clearly state sound reasons that your products are currently viable and how you will react to future challenges in the market.

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Oh, what an exciting 5 year plan! I saw all the Pins earlier today, and was wondering what you were up to. 🙂 On my 5 year plan: a trip to England, without the kid(s). And hopefully a 3 (or 4?!) bedroom house. I’ve never sat down and made a specific plan like yours though – and I really like the idea.

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The Plan. Ah, the plan! I chose to break mine out by High-Level and Ground-Level view. Since this is a five-year plan, it’s obviously going to have some big picture plans, in addition to plans very focused on achieving by the week or month. As I wrote last week: Short-term thinking and strategy is always imperative. Write your five-year goals down and display them in a prominent place where you can see them often. Whether you write them on a small card that you can tape to your computer, or write the goal dates in your planner, make sure that you give yourself a daily reminder of what you plan to do in the next five years.

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Writing a 5-year (or longer) Personal Growth Goal Plan is easier than you think with these simple steps. Where do you see yourself in 5 years? Writing a 5-year (or longer) Personal Growth Goal Plan is easier than you think with these simple steps. But having a written 5-year plan for your personal growth and life goals is a smart way to. Writing a five-year business plan requires you to make the case, in both prose and data,for how your company will reach its strategic objectives.