With the year halfway done, are you considering making adjustments to your business plan? Have you had some disappointments from some of the key initiatives you started in the beginning of the year? Making adjustments to your business plan can help you improve results, take advantage of things that are working well, and de-emphasize things that aren’t.
A business plan typically includes strategies and tactics to profitably grow your small business. Sometimes you have a perfect strategy, but the tactics you are using to implement it are not producing the best results. Tweaking your tactics to better align with your strategy can help.
In some cases, your strategy may be flawed. For example, you may have a strategy to penetrate a certain industry or specific prospects, and the overall approach just isn’t getting you any traction. Modifying your strategy to account for what you have learned will help improve your potential to be successful.
Business plans are like “road maps” and if you hit a “detour” you need to be prepared to take a different road. There are many examples of companies who had a great product or service that just wasn’t selling; and when they adjusted their business plan, it sold like hot cakes.
Periodically making adjustments to your business plan will not only help you be more successful; it is essential to continually making improvements in running your small business!