Revise business plan to incorporate appropriate changes
Your business plan should set a consistent course for your company, but it needs to change over time. Most entrepreneurs will tell you that their business plans are the blueprints for their company, or are the Bible of the business they're trying to build. It's good to have this mentality, and I don't advise trying to build a business without a plan; however, there's a critical misconception that leads to disaster more often than it reasonably should. Too many entrepreneurs use their original business plan as an unbreakable, binding document, when in reality, it should be flexible, and ever-changing. Adaptability is important for your business because the original circumstances in which you wrote your business plan will never be the same. You'll have more information, new competitors, different target demographics, and maybe even different goals.
8 Elements of an Effective Change Management Process
How to Know When to Change Your Business Plan
Business plans are living documents. You want to refinance or fundraise. You launch a new product or service. A new revenue stream will impact how you manage your resources — and can impact profitability. Let partners and investors in on your vision to get their buy-in and help with execution. You expand into new markets.
Remember me. Select a small business of your choice and explain how the particular business can be considered as a small business enterprise. List the advantages and disadvantages of being a small business enterprise and answer the following questions. Explain the business profile of the selected organization.
Rewriting is the essence of writing well—where the game is won or lost. This handout will motivate you to revise your drafts and give you strategies to revise effectively. It is an ongoing process of rethinking the paper: reconsidering your arguments, reviewing your evidence, refining your purpose, reorganizing your presentation, reviving stale prose.