Keep your business plan up-to-date. This is your action plan so make sure that you keep it up to date. If you change direction or goals, your plan should change also. More often than not, a business owner will spend a lot of time and effort writing a business plan when the pressure is on to borrow funds or to get a business started. The intention is there to always keep the plan up-to-date. But before long, things get hectic and the business plan is put in a drawer, never again to be seen. There is an old saying that “the business that operates by the seat of its pants will end up with torn pants.” Make sure that your business doesn’t fall into this trap.
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