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 places you 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 to 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.

Your Final Assignment

Put an appointment on your calendar for one year from today for a business plan review. Schedule 1/2 day, in a quiet place, away from the office, cell phone and email.  And review your plan. Answer the questions listed above, and plan the next year. And before your go,  I would love to hear what you thought about the process please share your feedback below

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.