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By Catherine R. Sands on May 29 2018 03:42:05
Size your business plan to fit your business. Remember that your business plan should be only as big as what you need to run your business.
Business planning is an ongoing business activity. As your business changes many of the strategies in your plan will need to evolve to ensure you business is still heading in the right direction. Having your plan up to date can keep you focussed on where you are heading and ensure you are ready when you need it again.
A business plan is not a document you create once and store in your bottom drawer. It is a living guide that you should develop as your business grows and changes. Successful businesses review and update their business plan when circumstances change.
The planning process helps you learn about the different forces and factors that may affect your success. If you are already in business, it helps you to step back and look at what is working and what you can improve on. Instead of worrying about the future, a business plan helps to give you a sense of control over your business and your livelihood.
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