As a business coach I am a fan of a good business plan. Not a plan that is produced from cheap templates but a short, sharp plan that is focused on achieving great results from your business.
For the best result a good business plan needs to be both sustainable and flexible. I have found that businesses which adhere to these criteria produce the best results for their stakeholders well into the future.
That being said, flexibility is not the only foundation on which one can build a winning business plan. It should never be regarded as a task to simply be checked off your to-do list. Your business plan is an ongoing, creative process that deserves and requires constant nurture, adjustment and attention.
Your business plan should be revisited annually, at the minimum, allowing you to make the necessary adjustments to stay on the course to achieve your vision.
Here are the four key areas you want to examine:
Remember, I am here to help. As part of my business coaching process, I have a tried and tested system to help you get the best results from your business plan review.
Once you have evaluated each of these areas, the changes needed to your original plan should be obvious.
Rework your plan accordingly. Follow through with your team members to be certain they understand any changes that require their contribution in order to achieve your desired goals.
As you work through each section, follow these guidelines:
Many experts refer to the importance of creating a “living document” that is your business plan - one that never remains stagnant and is, in fact, always evolving.
Understanding your business plan this way allows you, as the business owner, to remain accountable and stay on the path to success.