Updating Your Business Plan

Your business plan should be your action plan. It should state your goals, the mission of why your business exists in the first place, and what you hope to accomplish in the future, not just on a financial basis, but on a service basis. Money follows service, not the other way around.

Linda Banks talks about how an up-to-date business plan is not just about projecting future numbers so that you can receive a business loan or some extra cash flow. She talks about how your business plan is basically your to-do list, which delineates how each specific action is meant to help your company in particular and your industry specifically. It is not meant to be changed to fit your whims or creative processes. It is meant to be tailored to necessity. How so?

Well, first of all, as your operations change to suit your clients’ or customers’ needs, and they change in specific circumstances to meet one-time demand or specific problems, all of these changes, alterations, and guidelines need to be appropriately reflected in your business plan, including why they work and why these steps work as opposed to former steps which were less effective. If you do not understand why some operations work better than others, then it may be in your best interest to find out.

While many companies have a business plan which is reviewed every six months or annually, it may be in your best interests to review on a three or four month basis, so that you are reminding yourself continually of your original plans and are able to properly recognize how the market has changed and how your company has changed to adapt to a new time period.

While employee drug and alcohol screening has been used in the workplace for the past three decades, it is worth noting that many business plans do not delineate activities as specific as day-to-day operations and monthly or every-other-monthly testing of your workers. This is unfortunate, because workplace drug testing must be budgeted from your accounts, must be shown as part of your operating expenses on your financials, and it must be scheduled. The best business plans are planned down to the very last detail. Call CMM Technology today for more information concerning our alcohol breathalyser devices and our drug tests: (+61) 1300 79 70 30.

http://linda-banks.suite101.com/business-plans-a21203

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