How often should a business plan be updated?

Revising your business plan is a great way to stay focused on the big picture. Checking in with your goals and what you've accomplished makes it easier to redirect or adjust your strategy when necessary.

A general rule of thumb is that if things have changed—if the industry has evolved, if the company has grown or shrunk, if the goals are no longer accurate—it's time to revisit the plan. It's a good idea to check in with your goals and objectives at least once a year, but more frequent updates might be necessary depending on how quickly your business is growing or shrinking.

business succession planning lawyer

It's no surprise that a business plan can change substantially over the course of time. The competitive landscape is volatile, and businesses need to be flexible to adapt and thrive in an ever-changing environment.

When you need legal help with your business, call this law firm for a free consultation -

Parklin Law LLC

5772 West 8030 South, Unit N206

West Jordan, UT 84081

(801) 618-0699

https://posts.gle/UxAZ4j

https://parklinlaw.com/business-strategy-and-consulting/ 


Location: Draper, UT, USA

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