Develop your business plan Part 7

Filed in archive Writing a Business Plan on March 11, 2008

This is part 7 of the video series on developing your business plan.

The video explains how important it is for you to use your business plan as a tool to improve your business and how to use the numbers to see how you are performing.

You should be looking at the numbers that you planned for and what you are actually achieving and see what you are doing right and wrong. If you are achieving higher sales than you predicted you need to figure out how you are achieving those, and see how to continue these trends.

If you are achieving lower sales than predicted you need to figure out what why you have a difference, is it something controllable and if it is, take care of that situation. If it is something out of your control, what can you do to change the results? This may include changing your product mix, your advertising expenditures, or many other areas that can affect the business.

Your current numbers can then be used to adjust your numbers and the business plan for next year and beyond.