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Updating the Business Plans

Written on the 8 February 2014 by National Australia Bank

Part 7

Updating the plan

Finally, recognise that economies, markets and your business itself keep changing – sometimes favourably, sometimes unfavourably. This means you need to review your plan at least once a year. How well have you done? Have you met the benchmarks in the plan? Revising and updating your plan will keep it relevant as a roadmap for your business.

Next steps

Use our business plan template to flesh out your plan.

Please note that this is a guide only and should neither replace competent advice, nor be taken, or relied upon as financial or professional advice. Seek professional advice before making any decision that could affect your business.

Download Guide – How to write a business plan (PDF – 564KB)

You may also be interested in:

How to understand key financial documents (How to guide)

The profit and loss statement and balance sheet are the two basic financial documents that small business owners need to understand. Read our simplified explanation of these key financial documents.

Creating a cash flow forecast (Training)

Understanding your cash flow is critical to your business survival. Learn how to crunch the numbers and uncover ways to improve the running of your business.

Budget sales forecast template (Excel 114KB) (Tool)

Work out your expected sales revenue to calculate your profit potential and help you complete your cash flow forecast.


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e.noel@australianbusinesssales.com.au

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Author: National Australia Bank

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