When Should I Update My Business Plan?

Many organization founders and business owners spend hours writing or consulting with someone to create the perfect business plan. They set goals and create first year budgets and then... a year, 2-years, more has passed.

You've done really well with your business, but you never took the time to go back and reevaluate your plan.

Most business owners think of their business plan as something that you need when you're just starting your business or organization. But, in reality a good plan helps you to stay ahead in your field. 

By taking the time to review your plan, you can see missed opportunities areas for growth, goals achieved and where adjustments can be made. 

Your plan should be updated as often as necessary. That may be annually or every 3-5 years depending on the timeline you laid out for yourself in your initial plan. 

As your business or organization grows, so should your business plan be adjusted.