As an Entrepreneur creating a business plan feels like a monumental achievement—and it definitely is. But what must an entrepreneur do after creating a business plan? A business plan is the first step in transforming your vision into a tangible strategy. But as any seasoned entrepreneur will tell you, a business plan is just the beginning of the journey. The real work starts once the plan is put into action. The hoops that you’ll jump through after this level define whether your business thrives or fizzles out.
Having worked with hundreds of startups in the last 15 years, I’ve seen firsthand that too many entrepreneurs get stuck in “planning mode” and keep refining and tweaking their plans instead of taking the next big leap of actions – implementing what you’ve decided and see the magic in happening.
In this blog, I’ll share actionable steps that every entrepreneur should take after their business plan is complete. From setting up the revenue systems, to building the right team and decided between Make Vs Buy Vs outsource decisions, we’ll explore the essential moves that can turn your carefully crafted strategy into a thriving enterprise. Whether you’re a first-time founder or a seasoned pro, these insights will help you hit the ground running and stay ahead of the curve.
1. Reality Check: Testing assumptions before taking the leap
Creating a business plan is like mapping out a road trip—it’s exciting and full of promise. But even the best maps don’t predict every detour, roadblock, or flat tire. That’s where the reality check comes in.
According to the latest reports, 90% of new startups fail. Additionally, many entrepreneurs become overly attached to their business plans without critically evaluating the underlying assumptions, leading to potential pitfalls.
That’s why, launching without validating your assumptions can lead to wasted resources or even business failure. So, first, run a reality check.
How to run a reality check on your business plan
A. Start Small: Run a Pilot Test: Instead of a full-scale launch, begin with a pilot project. If you’re opening a coffee shop, host a weekend pop-up in a busy area. If you’re creating an app, release a minimum viable product (MVP) to a small user base.
B. Use Pre-Launch Validation Tools: Crowdfunding platforms like Kickstarter or Indiegogo are not just for raising money—they’re a goldmine for market validation. A successful campaign proves demand before you commit to full production.
Even if you don’t crowdfund, social media platforms like Instagram and LinkedIn can be used to create surveys or pre-launch buzz.
C. Talk to Your Potential Customers: Nothing beats direct conversations with your target audience. So, identify them among your family or friends and ask them:
- Would they pay for your product or service?
- What features matter most to them?
- What alternatives are they currently using?
If every aspect is under your domain or you can handle it, the next step is to…
2. Define your sales system, selected marketing channels, and possible funds
A great business plan is incomplete without a well-defined sales system and marketing strategy. So, now let’s see how you can build a roadmap to secure your first sales and manage your finances effectively.
Designing Your Sales Pipeline
A sales pipeline outlines the stages your prospects go through before becoming customers. Start simple:
1. Lead Generation: Attract potential buyers through inbound (content, SEO) or outbound (cold calling, email campaigns) methods.
2. Qualification: Understand if leads align with your ideal customer profile.
3. Proposal: Share tailored offers or demos.
4. Closing: Finalize deals with compelling offers or limited-time discounts.
For example, Atlassian (creators of Jira) relied on a direct-sales pipeline early on, focusing on self-service demos and trials, which lowered their cost of acquisition and attracted enterprise clients organically.
Choosing Marketing Channels That Fit
After setting up the sales system, it’s time to think about your customers: where they are, and what they love. Yes, I am talking about marketing channels that must align with your target audience and budget. Common choices include:
Social Media: Platforms like Instagram and LinkedIn are cost-effective but must align with your niche. For example, if your business is B2C and focuses on services or products in the beauty or travel industries, platforms like Instagram, Facebook, and TikTok are great options. But, if your business is B2B, LinkedIn and Twitter (now X) are the best choices.
Content Marketing: Blogs, videos, or podcasts help build long-term trust with your audience. This approach allows you to target individuals who are already customers of your competitors or have a keen interest in your niche, significantly increasing the chances of conversion.
Performance Ads: Use Google Ads or Meta Ads for targeted outreach but monitor ROI carefully.
For example, Warby Parker, a direct-to-consumer eyewear brand, launched with content-driven campaigns and grassroots events, avoiding hefty ad costs until they built traction.
Managing Costs and Bootstrapping
Since no one trusts someone else’s vision outright, they typically want to see minimum results first. Only then do they begin calculating and considering potential growth. As a result, most businesses struggle to secure investors before getting started. That’s why you should estimate your channel expenses and ensure you have the funds readily available.
Social media ads might start at $500/month, while content marketing could require $1,000–$2,000 monthly if outsourced. You need to track conversions to justify spending.
You can also implement bootstrapping strategies like the founders of Mailchimp did for their self-funded startup. Bootstrapping refers to the process of starting and operating a company with limited funds, typically sourced from personal investments, contributions from friends and family, and the revenue generated by the business itself.
Next up…
3. Design and set up After-sales Service
According to a Bain & Company study, a 5% increase in customer retention can boost profits by 25% to 95%. Offering excellent after-sales service demonstrates your commitment beyond the transaction, ensuring customer satisfaction and long-term business success.
By designing a robust after-sales service strategy, you’re not just closing sales—you’re opening doors to lasting relationships.
What Should After-Sales Service Include?
A. Onboarding and Training: Help customers use your product effectively. Provide guides, tutorials, or personalized onboarding calls.
Example: When HubSpot sells its CRM software, it offers free onboarding sessions and an extensive knowledge base to ensure users can maximize its potential.
B. Warranty and Maintenance: Offer guarantees for repairs or replacements within a specified period. Clear terms build trust and reduce friction.
C. Customer Support Channels: Set up multiple channels—live chat, email, phone, or social media—for quick resolutions.
D. Feedback Mechanisms: Post-sale surveys or review requests not only show customers you care but also provide insights for product improvements.
E. Loyalty Programs and Upsell Opportunities: A CNN report states that by October 2022, Starbucks had 28.7 million active reward members, reflecting a 16% year-over-year growth in its loyalty program. So, try to use reward programs to repeat customers with discounts, points, and exclusive offers.
After this, you should…
4. Secure the right legal structures
20% of small businesses fail within the first year, 50% within five years, and approximately 65% within ten years (U.S. Small Business Administration), often due to inadequate legal structures and poor risk management. That’s why after designing after-sales service, the next crucial step is to secure the legal structure of your business.
The essential legal documents every entrepreneur needs
A. Business Structure Agreement: The first decision you’ll make is what legal structure to adopt. Whether it’s a sole proprietorship, partnership, limited liability company (LLC), or corporation, your business structure will dictate everything from taxation to personal liability. Make sure you choose the right structure that aligns with your goals and risk tolerance.
LLCs are often preferred by entrepreneurs for their flexibility and limited liability protection, but each structure has its own set of benefits depending on your industry and growth plans.
B. Operating Agreement (for LLCs): If you’ve formed an LLC, an Operating Agreement is critical. This document defines how the LLC will be run and outlines ownership distribution, management roles, and procedures for making business decisions.
C. Partnership Agreement: If you have co-founders or business partners, a Partnership Agreement is essential to clearly define the responsibilities, roles, and obligations of each partner. This document helps avoid misunderstandings by setting clear expectations about profit-sharing, dispute resolution, and the process of dissolving the partnership if necessary.
D. Intellectual Property (IP) Protection: As you build your business, intellectual property is likely to become one of your most valuable assets. Whether it’s a logo, product design, software, or proprietary process, protecting your IP should be a priority. Registering copyrights, trademarks, and patents can safeguard your innovations and prevent others from using your work without permission.
For instance, In 2014, Airbnb faced a trademark dispute when Automation Anywhere tried to copy its logo. Had Airbnb secured a trademark for its logo earlier, the case would have been avoided, and the company wouldn’t have faced the time and financial burden of a legal battle.
E. Non-Disclosure Agreement (NDA): When you begin sharing your ideas with investors, potential partners, or employees, it’s essential to have a Non-Disclosure Agreement (NDA) in place. An NDA protects your intellectual property and ensures that confidential business information, like business plans and proprietary software, won’t be disclosed or misused. This is especially important during the early stages of product development when you’re dealing with sensitive ideas.
F. Contracts and Agreements with Vendors and Customers: As you begin working with suppliers, contractors, and customers, contracts are critical to formalize the terms of your relationship. From service agreements to sales contracts, these documents protect your business by ensuring that the obligations, payments, and delivery terms are clearly outlined and legally binding.
But, when drafting contracts, be sure to include clauses regarding dispute resolution and jurisdiction (where any legal disputes will be handled). This can save you a lot of headaches down the line if issues arise.
In case, you neglect to establish clear agreements and protections, you may expose yourself to unnecessary risks such as:
- Loss of ownership rights to intellectual property.
- Unclear profit-sharing and decision-making processes with co-founders or partners.
- Disputes with customers, contractors, or employees over the terms of services or products.
So, take the time to get the legalities right from the beginning, it will save you a lot of stress in the future—giving you the confidence to focus on scaling your vision.
5. Set up systems to scale from day one
70% of businesses fail because they scale too quickly without systems in place (Startup Genome). This doesn’t mean building complex infrastructure right away—it means planning for growth with intention.
So, think beyond the present. While it’s tempting to focus only on immediate needs, systems designed for scalability can save time, money, and headaches down the road.
Steps to Build Scalable Systems
A. Automate Repetitive Tasks: Time spent on manual processes is time stolen from innovation. Identify tasks that can be automated, such as:
- Invoicing and payment processing
- Customer onboarding emails
- Social media scheduling
B. Invest in Cloud-Based Tools: Cloud platforms like AWS, Google Workspace, and Asana are cost-effective and grow with you. They ensure your team can collaborate seamlessly, regardless of size or location.
C. Document Everything: As your team grows, processes that exist only in your head will become bottlenecks. That’s why you need to create playbooks for everything from hiring practices to customer service workflows.
D. Build Flexible Financial Models: Growth requires capital, and capital management becomes trickier as revenue streams diversify.
- Use tools like QuickBooks or Wave to track income and expenses efficiently.
- Forecast for multiple growth scenarios to avoid being caught off guard.
Next start to…
6. Measure What Matters: Data-driven decision-making
A survey found that 91% believe democratizing data and analytics is vital for organizational success, and 76% say the same about AI capabilities(Source).
So, in today’s data-driven world, understanding which metrics matter to your business can make or break your strategy.
What to Measure: Focusing on the Right Metrics
A. Customer Acquisition Cost (CAC) vs. Lifetime Value (LTV): Balancing your cost to acquire a customer with the long-term value they bring is a critical factor in profitability. When CAC exceeds LTV, you’re essentially losing money. By focusing on reducing CAC and increasing LTV, you build a sustainable growth model.
B. Churn Rate: Churn rate—the percentage of customers who stop using your product or service—is one of the most telling metrics for a business’s long-term success. A high churn rate signals that your value proposition isn’t resonating or your customer service is lacking.
Tip: Aim for a churn rate of below 5% for SaaS businesses. If it’s higher, dive into your customer feedback for insights into potential improvements.
C. Conversion Rate: Whether it’s converting leads to customers, website visitors to sign-ups, or free trial users to paid subscribers, your conversion rate is a direct reflection of how compelling your offer is. Optimizing your conversion process should be a continuous effort.
D. Revenue Growth: Measuring month-over-month or year-over-year revenue growth helps you gauge the health of your business. Are you gaining momentum, or is growth stagnating? This metric, when tracked alongside other data points, can highlight patterns in your sales cycles or uncover seasonal trends.
After measuring the metrics, use these to…
Drive Decisions
A. Track Real-Time Metrics: Tools like Google Analytics, Mixpanel, or HubSpot provide real-time insights. Setting up dashboards for your key metrics lets you track the pulse of your business at any given moment.
B. A/B Testing: Regular experimentation is one of the most effective ways to make data-driven decisions. A/B testing allows you to test variations of product features, website designs, or marketing messages to see what works best for your audience.
C. Refine Your Strategy Based on Results: Data isn’t about collecting for the sake of it—it’s about taking action. If your numbers suggest a product feature isn’t resonating with customers, it’s time to pivot. If your marketing spend isn’t producing the desired ROI, adjust your targeting or channels.
Now, you have data – your navigational compass, along with a scalable system, marketing channels, and a defined sales pipeline to attract investors.
7. Fundraising: Beyond dollars, build partnerships
In this stage, your goal isn’t just to secure capital—it’s to align with partners who believe in your vision and can contribute beyond the check.
So, when seeking investors, don’t just ask, “How much can they give me?” Instead, ask:
- Can they open doors to key networks?
- Do they have industry expertise I can leverage?
- Are they aligned with my long-term goals?
How to Build Strategic Partnerships Through Fundraising
A. Choose Investors Wisely: Every investor brings their own expectations, influence, and advice. Research potential investors just as thoroughly as they’ll research you.
- Strategic Fit: Do they understand your industry?
- Cultural Fit: Do their values align with yours?
- Supportive: Are they hands-on or hands-off, and which do you prefer?
B. Be Transparent About Your Needs: Fundraising is not just a pitch—it’s a conversation. Be upfront about what you need beyond capital.
- Do you need help building your supply chain?
- Are you looking for access to international markets?
The more specific you are, the easier it is for investors to assess how they can add value.
C. Foster Long-Term Relationships: Fundraising doesn’t end when the check clears. So, keep your investors updated and involved as regular communication builds trust and turns your investors into your biggest champions.
D. Balance Control with Collaboration: While investors bring valuable input, it’s your business at the end of the day. So, maintain a clear understanding of boundaries and decision-making authority.
8. Build a Culture, not just a team
Now that you have funds, it’s time to build a team and establish a strong culture. A successful business isn’t just a collection of people working together—it’s a shared culture that unites, motivates, and inspires.
As you’re reading this, it proves one thing: at Agicent, we’ve cultivated a culture that fosters creativity and empowers us to produce quality content that ranks well. Combined with our strong technical SEO services, the result is a profitable agency that stands out as one of the best app development companies.
A Gallup study shows that businesses with highly engaged teams are 18% more productive than those with disengaged teams—a testament to the value of a supportive work environment.
Steps to Build an Enduring Culture
A. Define Your Core Values Early: Your culture stems from your values. So, as the founder, ask yourself:
- What behaviors are non-negotiable in my business?
- How do I want my team to interact with each other and with customers?
For example, Zappos, famous for its customer-first ethos, defined core values like “Deliver WOW Through Service” and made them the cornerstone of every hire, promotion, and decision.
B. Hire for Cultural Fit, Not Just Skills: Skills can be taught; attitude and alignment with your values cannot. So, during interviews, ask questions that reveal a candidate’s priorities, work style, and adaptability.
C. Lead by Example: As an entrepreneur, your actions set the tone for your team. If you preach transparency but avoid difficult conversations, your team will follow suit. Model the behavior you want to see.
Note: Building a culture isn’t a one-time task—it’s a continuous effort. Nurture it as diligently as you would your product.
9. Stay Resilient through setbacks (Because they’re inevitable)
Setbacks are a given in entrepreneurship. If you’re not facing challenges, you’re probably not pushing your limits. Every successful entrepreneur has faced adversity, yet it’s how you bounce back that defines your long-term success. Resilience isn’t just about enduring; it’s about learning, adapting, and continuing with renewed vigor.
How to Cultivate Resilience
A. Reframe Failure as a Learning Opportunity: Every setback is a lesson in disguise. Instead of wallowing in failure, ask yourself, “What can I learn from this?”
B. Focus on the Long-Term Vision: Short-term struggles can sometimes obscure the bigger picture. So, keep your eyes on your long-term goals, and don’t get bogged down by the immediate hurdles.
C. Build a Support System: Entrepreneurship can be lonely, but it doesn’t have to be. Build a network of mentors, fellow entrepreneurs, and advisors who can offer perspective, advice, and encouragement during tough times.
D. Keep Your Team Motivated: Setbacks affect everyone, and as a leader, your response will set the tone. Stay positive, remain focused, and lead with empathy. A motivated team can weather difficult storms with you.
Conclusion: From planning to action, One step at a time
In summary, entrepreneurship isn’t just about reaching the destination—it’s about the growth and transformation that happens along the way. From aligning your purpose with execution to learning from setbacks, these steps are your foundation for long-term success. It’s a process of continuous refinement, learning, and building momentum.
So, take it one step at a time. Your business doesn’t need to be perfect from the get-go. It just needs to be aligned with your purpose, driven by data, and flexible enough to adapt.
For more clarity, you may read the FAQs below and to supercharge your entrepreneurial journey, consider these essentials:
- Must-Reads: The Lean Startup by Eric Ries, Zero to One by Peter Thiel, and Good to Great by Jim Collins.
- Tools: Notion, HubSpot CRM, Canva.
- Communities: Startup School, Indie Hackers, and Founders Network.
- Funding Platforms: AngelList, SeedInvest. Kickstarter, Wefunder, and many more.
