Business plans: the idea is tested and true. Have a plan for your business. Document where you are going and figure it out. What shapes your plans for the modern era? What has made things different? I think the key when writing business plans in the modern era is that we need to understand that the world has changed. Things are fast and nimble and we need to be flexible.
Does this eliminate the need for business plans? No. Business plans need to be dynamic. Business owners need to think about new ways to make and execute their plans. A lot of it should focus on periodic follow-ups. Business owners should realize that things are going to change, particularly in a modern economy. Everything is fluid. You are going to need to regularly revisit your business plan, and make sure that you are executing new things and changing to stay current.
You may view your business plan as more, as a dynamic map, something that updates and revises based on what is going on in the world around you. You probably will have periodic meetings to discuss your business plans and make sure they are truly working for you and adjusting to the realities of the market place. You will be learning new things as your business is changing and growing.
What has been your experience with changing business plans? What are you doing to make your business plans different? How are you growing and evolving? Let us know in the comments below.
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This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer typofi.
About the Author
R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment, gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can email R. Shawn McBride or (214) 418-0258.