Your company’s business plan is the roadmap to follow for your success. It should include financial objectives and projections of where you want your business to be in the future. A business plan is not set in stone once it is completed. It is a living document that needs to be reviewed often, ideally on an annual basis.
Sit with your leadership team at the end of each year to evaluate where you are in relation to the plan. If adjustments need to be made for the following year, be sure to make those updates to the plan. It’s important to also pay attention to what is happening in the market you serve. The plan must also be reviewed and updated a every year to ensure that any change to the market reflects the objectives of the business.
The business plan is important to managing objectives and business strategies. As business demographics shift, the plan is an essential tool to ensure that the team makes the necessary adjustments to meet the financial objectives while managing the financial implications of the company.
For Shell Roofing Solutions Group, our business plan is short, easy to read and a living document that guides us throughout the year and helps our team establish objectives and develop the strategies for success.
Rudy Gutierrez is president and CEO of Shell Roofing Solutions. See his full bio here.