By Kadriye Rouw at April 25 2019 20:01:31
It could be, for example, the risk of a change in the economic environment _ what are your contingency plans for that in terms of dealing with such a situation? There may be many other risks as well specific to your particular sphere of operation, but that ability to plan ahead for all scenarios makes for a robust business plan. When I have received business plans, the very best responses come from people who have looked at the risks and have an answer for every question. What you never want is to throw a scenario at your plan and have to answer "I don't know what I would do in that situation". You want to plan for every possible contingency, and certainly all the major risks to the ongoing success of your business.
Once you chose which one or more of the 7 you want to use and calculate exactly how much impact they have on meeting your plan, you would now have a definite approach on how to make your plan work. It seems simple. At that's what it's all about. It's about how to make your plan work the easiest and smartest way you can eliminating all the guesswork or trial and error methods. Want to increase your profit? This is a good way to do it.
Track Your Progress _ A business plan should not be forgotten about once the catering business has launched. Refer to the plan regularly to see if you are on track to hit the goals that you set out. Make changes to the plan as you go so that you always have a plan in place for your business going forward at least two or three years.
The Importance of a Business Plan _ The success of a business starts with a business plan. The plan defines your business as to what it is and how you plan to achieve the goals of the business. It presents a clear picture of your business in terms of goals and objectives.