You’ve created and launched your website, and now you’re waiting to get your first “bite”, but you never do, or at least don’t get the outcome you were hoping for. Building a business is more than just launching a website or posting on social media. It’s about creating a strategic online business plan.

A strategic online business plan is extremely important for any product or company when wanting to achieve any goals you’ve set for your business. Typically, a business plan will include an overall summary of the market, how the firm plans to achieve its goals, detailed guidelines regarding how the product will perform in each life cycle and the budget allocated for the same. And of course, always having a plan B to respond positively to changing market conditions.

It will pay off to plan! Those who write out business plans are more likely to succeed. But before jumping in, be sure to not get caught up in the all of the writing. Ask yourself a few questions first:

• “Where are we now?”
• “Where do we want to get to?”
• “How are we going to get there?”

By thinking these things through, it will help you think about competitors, operations, logistics, marketing and sales.

While having a business plan will have its perks, it’s important to keep in mind failure. The real key to success is being flexible, open to new opportunities and accepting failure. Sometimes, the customer is not the right customer, and you’ll find out that your product or service fits in a different market.

The simple act of writing down your idea and outlining how the business will operate can be helpful along the way. You’ll be able to refer back to it and constantly communicate your vision to make sure everyone is on the same page. A business plan is critical, it shows that you have thought through an idea clearly and aren’t just winging it.