5 Tips for Making the Most of Your Business Plan

5 Tips for Making the Most of Your Business Plan

1. Take the long view and do long-term planning. Map out where you want to be five years from now and how you plan to get there.

2. Write the plan yourself. You will learn more about your business by doing so.

3. Think of your plan as a living document. Review it regularly to make sure you are on track or to adjust it to market changes.

4. Share the plan with others who can help you get where you want to go—such as lenders, key employees and advisors.

5. Understand that you might pay a price in the short run to obtain long-term business growth and health.