Wondering about writing weekly business plan documents? Rarely is the standard business plan document updated that frequently, but in some corporate environments where key variables change constantly, you might benefit from having a truly "living" document that continually updates as your goals progress. But what does the document need to be like in order to be changeable in this way? For one thing, you need a financial model built with drivers so that you can update tabs as you go. Is the cost of fuel rising which impacts factory deliveries? Just plug in a new number. Revenue up because a new unit is performing well? Update your actuals in the model to show this gain. Also:
• Have a benchmarks section that you can easily update
• Use sources for market research that can be easily refreshed
• Stay on top of any changes in your marketing plan so you can tweak that section
• Pay attention to shifts in the competitive landscape so that you can always have current information
Weekly updates can be accomplished quickly if you have a working checklist of items to change in the plan. Double check what you've updated before re-printing or the plan or circulating the document to colleagues or superiors. Remember that the plan can be a snapshot of your business at ANY given moment, but you need to keep it current to ensure its accuracy. MasterPlans has been in the thick of business plan development ever since the company was founded in 2002. We can build a model for you showing precisely where the update points are for a weekly refresh. Call us now at 877-453-2011.
