Definitive Business Plan, Second Edition, The

Time for a break?

You have produced a superb business plan. It has been approved by your share-holders, board of directors, bank manager, the boss or whoever. You have the required funding sitting in the bank. You know what has to be done. I guess that it is time to stick the business plan in a drawer, enjoy the honeymoon period and worry about getting results later.

This is the worst possible step to take. Start turning the plan into reality while it is still fresh. Extend it into policies and procedures, objectives and budgets. This is easy after all the hard work that you have done up to this point. Make it permeate every nook and cranny of the business. Monitor the results and the environment – watch the economy and especially your competitors, ...