When you first set out on a journey with a map, you need to know where you are. If you don’t know where you’re starting from, you can’t work out the best route to your destination and you can’t determine how long it’s going to take you to get there.

The same is true for promoting your business and putting together a Marketing Plan. The first thing you need to think about when you’re planning your marketing is where your business is now. Knowing where you are at the start of this journey will help you plan the best route to your goals. It will also help you set your goals so that you can see the distance you’ve got to travel between where you are now and where you want to be. You might think that you’d like to take on 100 new clients in the next twelve months, charging each one £1000 per day for consulting or coaching. However, if you’ve only got two clients right now and you’re only charging £300 per day, you’ll have a lot of work to do to reach your goal. (Of course, if that’s the goal you really want to aim for, that’s great and knowing your starting point will help you plan the most effective way of getting there.)

So what is your business? What resources do you have at your disposal, to deliver your services to your clients? How long have you been doing what you do and what sort of reputation and experience do you have?

You also need to think about the products and services that you currently provide and be clear on what you offer, to help you decide the best direction to take. Are you delivering what your clients actually want and are you doing what you really want to do? Is there a demand for what you want to offer or are you doing something you only think people might want?

Who are your current clients? What sort of people and businesses do you work for? Where are they and why do they need your help?

Finally, what about your competitors? Do you know who your main competitors are and what they do? How much do they charge and what makes you different from them?

The rest of this blog will take you through some of these questions in more detail (and the rest will be covered in a second blog that will appear later this month) to help you become really clear on what you do now, how, why and for whom.

What Exactly is Your Business?

Answer the following questions about the business and the resources you have now. Don’t think yet about where you want to be – this is about where you are now and what you can currently make use of.

There are no right or wrong answers to these questions. It’s all about you and you don’t need to compare yourself to anyone else at this stage. Don’t worry if you’re quite new to business and you don’t yet have a reputation or a long string of clients. This is about getting really clear on where you are now.

1. What resources do you have? Describe the size and structure of your business, your current turnover and size of marketing budget – if you already have one! How many people are in your business? What external help do you have (such as a virtual assistant, a bookkeeper and other freelance support?)
2. What experience do you have? How long have you been doing what you do, both within your business and before you set it up? Do you have any relevant qualifications or accreditations? What do you specialise in?
3. What sort of reputation do you have? How well known are you in your business community or in your field? Have people heard of you? Can you find yourself on the internet? (If you’re not sure, Google your name and see what comes up!)

If you’re serious about growing your business this year and taking it places, before you rush into any new or expensive marketing activities, take some time to get really clear on where your business is now. Look at the starting point of your journey, before you set off. Next time we’ll look at why it’s important to understand the services that you provide and what makes you different from your competitors.

There’s more on all this in Part One of the Magnetic Marketing course, which comes with a video explaining all you need to know and clear activities to help you move your marketing and your business forwards every week. Click here to find out more and join the Magnetic Marketing community.