Updating your business plan

26-Mar-2016 19:18

You can also use your completed business plan to discuss next steps with a mentor or counselor from an SBA resource partner such as SCORE, a Small Business Development Center (SBDC) or a Women's Business Center (WBC).Complete each section of SBA's Business Plan Tool at your own pace.

It’s a document that provides guidance to your business every minute of the day, changing how you interact with tenants and owners and what new opportunities you pursue.

Although changes should be made only with good reason, don’t be afraid to update your plan and keep it alive.

Business Plan Pro Premier has Planned, Actual and Variance tables, complete with linked formulas, to facilitate active cash flow analysis.

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.

Stay in the Business Plan Pro Actual mode and make adjustments to future months of your Actual cash plan.

It’s a document that provides guidance to your business every minute of the day, changing how you interact with tenants and owners and what new opportunities you pursue.Although changes should be made only with good reason, don’t be afraid to update your plan and keep it alive.Business Plan Pro Premier has Planned, Actual and Variance tables, complete with linked formulas, to facilitate active cash flow analysis.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.Stay in the Business Plan Pro Actual mode and make adjustments to future months of your Actual cash plan.According to Cayenne Consulting, “your business progress may still be perfectly aligned with the strategy you’ve originally set, but the economy around you is constantly changing.” Since change is a constant in business, you need to consistently hone your business plan to ensure that your business is evolving with the times.