Updating Your Business Plan: Three Key Factors to Focus On

Contributed by Peter R. Geyer

Your business plan is your roadmap to success, and if you have built your own business – and particularly if you have had to seek bank or investor financing – you have probably had to write one.

But once written, how many of you have actually gone back at a later date to update your business plan?

It’s not a bad idea, even if you don’t need another round of bank or investor financing. Merely the act of writing – or updating – a business plan is a good way of refocusing your mind on where your business is going, how it is changing, and how you can keep it on a growth trajectory. Continue reading