Business Plan Lesson 10: Closing Thoughts
As you finish your business plan draft, remember, it doesn’t matter how simple or complex your business plan is. The process, not the finished product, is what’s important.
The truth is, a good business plan is never finished. The best business plans are not beautifully bound documents gathering dust on a shelf. They are tattered and smudgy from frequent use as a road map, showing where a business is going and how it plans to get there.
Throughout the year make notes of your progress. Continue to assemble new ideas. Then once a year (at least) set aside time for an annual review. Start with the high notes. Celebrate the accomplishments of the previous year.
Then take a hard look at the missed the goals you set for yourself and ask yourself why? Were your systems sufficient? Did you correctly anticipate market trends and competitor activities? Did you aim too high or simply get distracted?
Once you have completed your assessment of the past, it is time to look forward. Reevaluate your answers to each question in the outline, revising as necessary for the coming year.
This is the last post in our series on how to write a business plan. If you just joining us you can still see all the posts if you sign up for the Free Weekly Business Planning Series. In addition to the blank outline you will receive weekly reminders to keep you focused.
Ready to start working on your business plan?
Sign up for a weekly email to coach you through the planning process.
What is design thinking and why is it so popular? Well, it's a process used to redefine problems...
The devs over at Alphabet are not just trying to bolster their profit; they’re trying to make something that could be problematic better and more secure.
Virtual onboarding is here to stay As it becomes safe to return to the workplace in a...
Last week, Lorraine wrote about the importance in investing in business recovery. That raises the...