As the end of the calendar year approaches, it is a good time to take stock in what you have achieved over the year both personally and professionally. A good way to help measure the success your business has enjoyed is to take a look over your last business plan. Within your business plan, you will see goals that were set for areas that could possibly include product launches and expansions, profit margins, R&D, personnel, or addressing problem areas.
There is no doubt it is a great feeling to move from section to section seeing things that have gone as planned or better. It’s equally important to look at areas that might still be a problem or that have had some hiccups along the way that came from unexpected sources because that knowledge is valuable. It will help you in the future and it will also help you when you bring in a business plan writer to create your next edition.
A business plan is not created to be a throwaway type of document once the rounds of investing, expansions, launches or checkups are completed. They are designed to be referred to until your next business plan arrives to act as a roadmap pointing out where you need to be and how to get there. By reviewing your business plan regularly, you stay focused, you now where positive feedback is due and where a little kick in the rear may be deserved as well. Use your business plan regularly – it is a better friend to your business than you may realize.