The importance of updating your business plan

The importance of updating your business plan

“The most expensive lesson is the one you have to learn a second time…”
The business year is over? Updating your business plan? That’s exactly the time to sit back and review the year thoroughly – What worked? What didn’t? How can we improve and become more cost-effective? In order to make these analyses you’ll need to define each year the parameters which will be tracked on a daily/monthly basis (besides Revenue, Expenses, Inventory changes etc.). Remember: tracking the figures constantly gives you a quality tool which will help get your business forward.
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