Check-ups are vital in the maintenance of our valuable objects. We take our teeth in for regular exams and our vehicles in for oil changes and tune-ups. But what about your business plan? By now everyone knows the substantial value of developing a livable, useful business plan, but when was the last time you brought the old gem out and polished it up? Just as your business evolves or even pivots, your business plan should evolve in tandem with your enterprise. If you put energy and effort into scrutinizing your business plan, you may be able to pinpoint your weakness before it undermines you, and you’ll also see where you’ve been successful, encouraging you to forge ahead at that crucial moment. You and and your business are the doctor and the patient, so what do you need to improve your bedside manner?
Schedule Your Check-up
Pick a period of time to review your business plan, be it monthly, quarterly, or biannually and stick with it. If you review monthly, you may be able to do it in smaller chunks and you may be able to create a more agile document. Quarterly may be the sweet spot for most small businesses, as you can piggyback it onto similar tasks such as reviewing your marketing plan. If your plan is clear and you have been responsible in the past, biannual reviews may offer the opportunity to respond to changes and improvements with flexibility while maintaining continuity. Continue reading “Checking Up on Your Business Plan” »