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Business Planning That Meets 2019 Standards

February 19, 2019 by OSYB Staff

Tim Berry, a guest blogger on the Small Business Administration (SBA) site shared some tips on writing, reviewing and managing a business plan for 2019 that is up-to-date and meets the changing times.

Create SMART goals which means Specific, Measurable, Attainable, Relevant, and Timely.  Consistently measure your specific goals.  Then use the data to make adjustments as you study the metrics and make revisions to stay on target with your specified goals.  It’s important to set realistic goals that are attainable.  Once reached you can always reset your goals but frustration on working to achieve an unrealistic goal can be derailing.

Think of your business plan as an action word like planning not as just a single plan cast in stone.   Your business plan should be fluid and adaptive to changes that your consistently measured data reveals to you.

Include in your plan only the things that you will really do.  Study business planning and take note of how others are doing it, but in the end make your business plan your own.  Tailor it to meet your specific goals, your ability to track and measure your goals, your actual capabilities and only what you will actually use to maximize your business trajectory.  Sometimes, it may be better to start with a simple achievable business plan and then add to it as you attain your goals.

For more details:  How to Write Your Business Plan, 2019 Style

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