Revising Your Business Plan as You Grow

Effective business planning is vital to the growth and strength of your company. Many business owners know this, but in reality, planning often gets relegated a once-a-year event.

December is National Write a Business Plan Month, and my team and I have been busy creating resources to help you create an effective plan. Once you have your plan in place, however, it’s vital to revisit and refine it throughout the year.

This doesn’t have to be an extensive process, but it is necessary. As we’ve seen over the past couple of years, things can happen that will cause you to pivot – sometimes quickly – and by keeping your business plan up to date, you can stay ahead of the game.

Making time for planning throughout the year doesn’t have to be hard. Here are some of my favorite tips to help you out!

Block Time for Quarterly Business Plan Reviews

If I had to give only one tip, this would be it. When you create your calendar for the quarter or the year, one of the first things to go on it should be a block of time each quarter to review and revise your business plan.

You don’t have to take a huge chunk of time to do this, but even calendaring in a 60 to 90-minute block each quarter can make a huge difference. Putting it on your calendar up front will help you hold that space and stay accountable to implementing that planning time.

This is a time for you to review your plan, evaluate what you have been able to implement so far, and make any tweaks that might be necessary. This allows you to make small course corrections (instead of huge shifts) throughout the year.

It also equips you to take advantage of any new opportunities without having to completely take your eyes off of your overall plan.

Be Firm but Flexible

Your plan is in place for a reason: it gives you a framework to work within. It’s intentional, written according to your goals and core values, and designed with flexibility in mind. (If you need help creating this plan, check out my free training!)

The key to revising your business plan is to know what is flexible and what is not. This will guide you in revising your plan while keeping your business on the right track.

Your core values are the foundation of your business – they are the “why” behind what you do. These should only be changed for intentional reasons.

However, your goals may shift throughout the year, and opportunities will shift. By periodically assessing your plan and making the necessary tweaks, you can take advantage of these shifts.

For example, a notable speaking engagement may become available that could significantly impact your marketing efforts. New changes regarding your field – taxes, family law, or immigration, for example – could bring to light new services that you could offer.

By approaching your plan strategically, you can be flexible where you need to while holding to your overall purpose, mission, and growth goals. This offers you a better chance at success!

Build Feedback and Accountability into Your Plan

Your business is your own, but that doesn’t mean that you should try to do it all yourself.

Having an extra set of eyes on your plan will give you additional perspective that can make it even stronger and bringing the right person into the process can only result in a more comprehensive plan.

Notice I said, “the right person.” You’ll want to make sure that whoever you bring in understands your business, your strategy, and the logistics involved; you’ll also want to make sure they have your company’s best interest at heart.

This might be your Admin or COO, or it might be a strong Strategy Coach. Whoever you choose, I encourage you to be open to their feedback. Ultimately, the choice is yours, but be willing to consider their perspective and insights.

Then, make sure that you have the accountability you need. This is where a coaching team can be very beneficial! That way, when things get busy (you know they’re going to!) or life goes sideways, the plans that you have created won’t go to waste.

I hope you’ve found these strategies helpful, and I can’t wait to see the growth that 2022 will bring!