Some reasons why having a kingdom business plan is one of the keys to building a successful kingdom business
A kingdom business plan is an important tool to have if you’re thinking of building a business that fulfills its mission. Sadly, far too many kingdom entrepreneurs ignore this very important aspect of running a business.
Every business needs a guide or a road map to follow. Something you can keep returning to as you build your business. You need a road map to know not only what you’re supposed to be doing, but also how to to do it. In essence, a kingdom business plan is vital to the success of your business.
If you’re thinking of starting a business (or if you’re already a business owner), and don’t have a business plan, here are some very important reasons why you need one.
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Why You Need a Kingdom Business Plan and How to Create One
1. YOU NEED KINGDOM BUSINESS PRINCIPLES TO STEER YOUR BUSINESS
As a Christian, your business should be founded on kingdom business principles. Your kingdom business plan is where you lay out these principles.
Since your business plan is what guides you through each stage of running your business, it’s good practice to outline the kingdom business principles you’re going to use to manage your business.
A plan will help you to think through all the different areas of your business and how you will operate your business. Some examples of the key areas you need to apply kingdom business principles to include:
- Marketing and sales strategy
- Hiring decisions
- Business partnerships
- Customer service
- Business financing
- Making a profit
Since these are some of the key areas in your business, you need a plan to show you how to manage them. Knowing which biblical principles to apply to each of these areas is a great way to ensure you don’t compromise your faith, and you can operate your business for the glory of God.
2. TO SET OUT YOUR BUSINESS GOALS SO YOU CAN REACH THEM
“For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it?” (Luke 14:28)
If you ask any successful person why they think they were able to realize their dream, I bet most will say because they set goals and worked toward them.
Your business needs something to aim for otherwise you can easily lose focus and end up pursuing things that aren’t connected to your purpose. A kingdom business plan is where you state the goals for your business and how you’re going to reach them.
It’s not enough to say your goal is to make money. That isn’t a specific or measurable goal. For goals to work, they have to be specific, measurable, and time-sensitive. For example, every business owner wants to make money, but some can’t tell you how much they want to make.
To really achieve your goal, you have to state how much money you want to make, and how long it would take you to make that amount of money. So a better way to state revenue or profit goal is to say “my business should make $1000 a month in the next 12 months.” At the end of 12 months, you can see if your business reached this milestone or not.
This is why a business plan is such an asset. To keep you focused, and to guide what you should be working on. A business plan helps you to prioritize your tasks so you don’t waste time and resources on tasks with low return on investment (ROI).
Need some help creating a business plan? Grab a free copy of my Business Planning Cheat Sheet.
3. TO SHOW YOU ARE SERIOUS ABOUT KINGDOM ENTREPRENEURSHIP
“In all toil there is profit, but mere talk tends only to poverty.” (Proverbs 14:23)
Creating a kingdom business plan is a way to demonstrate your commitment to kingdom entrepreneurship.
Unfortunately, many Christians talk the talk but don’t walk the walk. A lot of times these Christians have good intentions and really want to follow through on their words, but they lacked one thing. They lacked a planning tool.
The fact you are a Christian and about the business of the kingdom doesn’t mean you don’t need a plan to outline your ideas, goals, and actions steps. If you’re really serious and committed to kingdom entrepreneurship, a plan is a great way to show your commitment.
While you don’t need to convince people you’re serious about building a kingdom business, having a plan you can show your employees, business partners, investors, friends, and family members can go a long way in fostering trust and getting other people to buy into your vision.
Lots of people don’t like to support ideas or things they are not sure of. Having a plan can allay their fears and help them see you’re truly passionate and motivated to build a successful business.
So if you’re having a hard time getting funding for your business or getting people to support your vision, the first question you should ask is “do I have a plan? Is it clear enough?”
4. TO UNDERSTAND YOUR COMPETITION AND YOUR COMPETITIVE ADVANTAGE
All businesses whether you are a kingdom business or not have competitors. Having some competition in business is a good thing because it forces you to raise your game and not be complacent.
Creating a kingdom business plan forces you to recognize and analyze your competition so you can figure out their strengths and weaknesses, and position your business in the marketplace. When you know what your competitors do well or poorly, then you can figure out your competitive advantage and how to stand out.
Now, your competitors are not your enemies. The goal isn’t to run them out of business or destroy their reputation. Friendly rivalry is a good thing so that’s what you should aim for.
I would be wary of pursuing a business idea that hasn’t been done before in one form or the other. Competition means there’s money to be made in that industry and willing customers. All you need to do is to find a gap or an unmet need you can fill.
So think of your kingdom business plan as a weapon in your arsenal to help you excel and thrive even in the midst of competition.
5. TO UNDERSTAND YOUR CUSTOMERS AND WHAT PROBLEM YOU SOLVE
Knowing and understanding your customers are two of your most important responsibilities as a business owner. You have to know how your customers act, how they make buying decisions, and more importantly, their buying power.
Customers aren’t all the same or looking for the same things. Some customers would rather buy one expensive thing while others prefer to buy lots of inexpensive things. So you have to decide what type of customers you want to serve so you can create products that meet their needs and are suitably priced.
For example, trying to sell an expensive watch to a customer who’s looking for a cheaper alternative isn’t going to work. So if your competitors focus on high-end customers, perhaps you’d be better served catering to customers at the low or mid-end.
This is why knowing your competition and customers is essential for your business success. And a kingdom business plan is the best tool to use to analyze them.
Finally, for your business plan to be effective, you must do a thorough assessment of your competition and customers. This is an ongoing process and not something you do once and forget since things change and you need to stay one step ahead.
6. TO ASSESS YOUR FINANCIAL NEEDS
Like all businesses, your Christian business needs money to survive. How much money you need depends on the type of business you own or want to start. Since lack of funding is a key part of why many businesses fail, this is a topic you shouldn’t ignore.
A lot of business owners fail to plan for their finances, so they start a business, then later find out they don’t have enough money to execute their business idea. This is why a business plan is so crucial.
Your kingdom business plan is where you assess and outline your financial needs based on factors like the kind of products you sell, the equipment you need, how many employees or contractors to hire, and your business expenses for the first year (or until your business starts generating revenue).
Breaking down your financial needs can help you plan your finances, raise funds, or maybe even defer your idea until you can raise some more money. Don’t jump into entrepreneurship without counting the costs or how you’re going to pay for it.
The post below has many more reasons why you need a business plan. Please check it out.
Now, let’s move on to how to create a kingdom business plan.
HOW TO CREATE A KINGDOM BUSINESS PLAN
First, let me say that I am not going to spend a lot of time here because I already wrote a very detailed post on how to create a Christian business plan. So, I suggest you check out that post if you need help creating a business plan.
But here is a simple list of some of the things your kingdom business plan should contain:
- Your mission and vision statements
- Sources of funding
- A selection of kingdom business principles and values
- The tools and other resources you need
- Your ideal customers and problem you will solve
- Marketing and sales strategies
- Anchor scriptures
There are many more things you could add to a business plan, it all depends on how detailed you want it to be. And like I said above, you can find more help when you read the post: How to Create a Simple Christian Business Plan.
Wrapping up Why You Need a Kingdom Business Plan and How to Create One
As you can see, there are so many reasons why a business plan is an essential tool for your business. Your business has a higher chance of success if you take the time to actually outline your goals and create action steps to accomplish those goals.
Don’t be scared to create one for your business since it can make a big difference to how you operate your business.