Updating your business plan

Business planning is one of the most crucial parts of starting a business.Get it right, and you'll earn the trust of investors, distributors, suppliers and staff.At the very beginnings of your company you’ll have sat down and put your heart and soul into this business plan.It sets out your major goals and the main themes of development strategy and cashflow predictions.To help you on your business journey, we've created Smarta Business Builder, the complete online tools package for growing your business.Website Builder, Business Plans, Accounting Software, Legal Documents and Email - all in one place - from just £20 per month with no contract! Your observations, along with financial and operational data, will allow you to identify areas where your strategic plan needs to be adjusted.When reviewing your strategic plan, your management team should take the following steps: The nature and needs of your business will determine the timing and frequency of your strategic plan review process.

Keep track of the original business plan and manage changes carefully.

Your business plan should never be an after-thought, it was important to you once and should remain so to help you fulfill your potential.

Locked Away for Special Occasions Most people never look at their business plan after first drawing it up.

It clarifies your long‑term goals and the steps necessary to attain them over the next two to five years.

But strategic planning is not a set‑it‑and‑forget‑it exercise.

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Prescription for live planning After your plan starts, save a copy of your plan in Business Plan Pro and then type actual results into the sales forecast, profit and loss, and milestones Actual tables. Note when actual results indicate you need to make changes.

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