The first few years of any career will involve establishing Market Authority, which includes working social platforms and developing brand identity through things like keywords, logo design, colours and imagery. The goal here is to show that you know what you are doing, that you are respected and recommended by peers in your industry, that you have a good reputation, that you appear in the media frequently and are recognizable. A strong market authority results in building trust with those who have not worked with you yet.
Developing your market authority depends entirely on the strength of the 5-year business plan and the annual action plan.
As time goes on, you'll also find that you will be fine-tuning your personal goals as an entrepreneur, tweaking the focus and the wording of the business mission, vision and promotional blurbs. Then you'll be exploring various ways of communicating these things to others through interactions with your contact list, obtaining product reviews, media endorsements and service testimonials. Once you have established a strong Market Authority, you will still need to schedule time to maintain, nurture and grow it.
Developing your market authority depends entirely on the strength of the 5-year business plan and the annual action plan.
These plans will help you figure out what steps you need to do in order to prepare for future goals.
For instance, you might have to take a course next year, do research now to learn how to use some of those tools you recently discovered, or find a mentor so that you can approach future goals fully prepared.
Writing the annual Action Plan
This involves one or two pages, often in bullet form, detailing what is do-able this year based on the projected schedule. The list will be in chronological order, showing what needs to be done first and the steps that will be taken to accomplish each task.
At the end of the year, it is time to evaluate the action plan based on the previous year's experiences.
You will be:
• Looking at successes you had and what you attribute that success to.
• Examining failures and what led to that failure.
• You'll learn from mistakes and create a policy to avoid making them again.
• You'll decide if pursuing something is worth your time, whether you'll continue those activities in the same way or whether you will try different methods.
Based on this information, the new action plan will be fine-tuned - it will include things you didn't have time for last year as well as adding future goals, and it will include the steps to accomplish these tasks like an efficient, manageable map showing you the way.
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