When was the last time you took a look at your business plan? The average business owner only looks at their business plan during the start-up phase. Viewing and following your business plan on a regular basis ensures that you and your employees are in line with the goal's you intended to achieve for your business. Your business plan is the company guide to growing your business. I encourage you to go over your business plan often, so that you'll always know where your business is headed.
Secondly, it is a good idea to make monthly and yearly changes to your plan. Once a business goal or mile-stone is completed, be sure to make the necessary adjustments to your plan. Doing this will insure that you and your employees are not following an old out-dated plan. A business plan that is regularly updated ensures that you are on track with the goals you have for growing your business.
Another reason for maintaining a business plan is, when you need to borrow funds. When the need to borrowing funds arises, you are going to have to present a sound, up to date, detailed, business plan. This is how business is done when money is involved. No one, not a bank, investor, family, friends, etc. is going to surrender a dime until you show them exactly what you plan to do with and when you plan to pay back their funds.
Lastly, don't be the business owner that flies by the seat of his/her pants. We all know the ending to that popular phrase. Create a comprehensive business plan that everyone within your company can follow.
Contact EastLake Marketing Group. I effectively coach you with marketing your product or service one step at a time. Let’s discuss how I can coach you to success.
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