Barbara Findlay Schenck

If you plan on starting a virtual enterprise, you will need to account for a fast-changing climate in your business plan. Many observers are convinced that virtual companies will become increasingly common as advances in technology make it even easier for employees to work wherever they are. Transformative innovations will continue to yield new opportunities and new virtual business models.

Planning for your virtual business means accounting for the technological necessities. At the heart of every successful virtual company is a flexible IT network that allows employees, clients, customers, and subcontractors to interact smoothly and efficiently.Teleconferencing, videoconferencing, and groupchats allow participants from around the country or around the world to connect from far-flung locations.

You need to include your remote team as part of your business plan. At the heart of the virtual business model is a radical new relationship with employees. Instead of punching a clock or showing up at the office, employees work remotely, often when they want to, and their only contact with management may be via phone, email, videocall and groupchat apps, or other project management and digital technologies.

You need a consistent set of policies in your virtual business’s plan. The virtue of a virtual company is that employees have tremendous freedom in their working lives. Managed well, a virtual company can be more flexible and efficient than a traditional nine-to-five, office-based enterprise. But with employees working as free agents distributed around the country — and sometimes around the world — virtual companies must establish specific standards and policies for operations and procedures, so that employees know how the business runs and what is expected of them.

Calling in the professionals to help advertise your small business is often the smart choice. But whether to call on marketing professionals at all depends on many factors, including what you’re trying to accomplish, the audience you’re targeting, the talent available within your company, the size and scope of the effort you’re about to undertake, and the communications tools you need to create.

Leave room in your business plan for branding your virtual enterprise. Your brand is the set of beliefs that people associate with your business name. It mirrors the overall image and tone of your company, your employees, your product, and your customer service. Branding is reflected through everything from your name and logo to your business offerings to how product manuals are written and how employees interact with customers.

In the same way that your brand name is the key that unlocks your brand image in the mind of consumers, your domain name (the string of characters web users type into a browser to reach your site, such as www.yourbrandname.com), and your social-media handles or monikers are the keys that unlock your brand online.

The best way — make that the only way — to achieve business success is to have a solid business plan. A business plan is critical to finding a successful course through turbulent times. If you have a really great idea for making money (or doing good with a nonprofit), an effective business plan will help you make the most of it.

A brand is so much more than a pretty logo. To win loyal customers, you need to develop a story that represents the quality and character of your organization or product. By then telling that story consistently across all channels and backing it up with exceptional customer service, you gain all the benefits (and profits) that come from being a trusted name in the marketplace.