Business Plan Review Checklist

Go over your business plan and see if you need to change your plan to suit the conditions prevailing at that particular time.

Goals and Tracking

• Have you set your company objectives?
• Have you realistically forecast your potential sales?
• Have you set a detailed budget to achieve those required sales?

Capacity

• Are you well equipped to physically operate the business?
• Do you have the right staff in skills and in attitude?
• Do you have enough staff capacity and a forecast on how they will be used?

Customers and Service

• Are you creating new customers and how?
• Are you retaining existing customers and why?
• Do your staff have good customer’ service relations and attitude?
• Do you follow up customers (before, during or after sales or service)?

Marketing and Positioning

• Are you effectively advertising and marketing into your market?
• Are you improving your competitive position?
• How do your prices compare to competitors’ and do they match your market niche?

Quality

• How do you ensure good quality workmanship?
• Are your staff fully trained in the range of services you provide?
• Do you use an order or job tracking system and a well presented detailed invoice?
• Do you analyse every sale/job/project and see where you could do better?

Pricing, Costs and Profits

• Do you have good credit management and control?
• Are your charge rates up-to-date and do you fully detail all costs?
• Do you check your unsold time daily and understand why?
• Are you controlling your expenses?
• Do you have good accounting and budgeting policies/practices?

Remember, business planning is an ongoing business activity. You need to regularly review and revise your business plan.