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How to Review Your Business Plan

Last updated June 30, 2020
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Everyone has a business plan, right?

Even if it is a set of goals written on a boarding card like golfer Rory McIlroy does.

Whatever type or size of plan you have, it only works if it is continually reviewed and updated. Nothing stays the same. Is it time your business reviewed the business plan?

Think about your plans for the weekend. On Tuesday, the weather forecast is beautiful for the weekend. Great lots of plans for outside activities. But by Friday the forecast has changed, Saturday is going to be wet. What do we do? We make new plans. It's no different in your business.

This checklist will guide you through a top-level business plan review to highlight any issues that need further attention. The output is used to set your plans for the next 90 days.

Reflect, Review and Report

  • Sales performance: meetings, quotes, sales won & lost
  • Progress against your targets: on track, ahead or behind?
  • Finance metrics: cash at bank, debtors, creditors, tax, profit, costs, budgets?
  • Marketing performance: social media engagement, prospects, leads, etc
  • Big wins: customers, orders, anything else….?
  • Opportunities and /or risks on the horizon
  • Completed projects, ongoing projects, new projects, struggling projects
  • Big issues still to be solved
  • Team and/ or employee performance, good and bad. Lost or new staff
  • Customers: new acquisitions, lost customers, up-sells or cancelled orders
  • Competitors: what have they been up to, what do you expect them to do next?
  • Complaint levels, quality issues, product recalls
  • Scan the marketplace: check PESTLE and other analysis tools you use
  • Review risk register: any changes or additions?

Forward Looking & Plan

  • Reset targets: sales, projects, budgets, tasks etc. Do you need new or different KPIs?
  • What about a price rise?
  • Marketing & sales opportunities coming up, new campaigns?
  • New technology, processes, automation to consider or research
  • New product launches, disposal of obsolete products
  • What key dates are coming up: events, seminars, workshops, conferences, Christmas, Easter etc?
  • Insurance or contract renewals, year-end trading, VAT & Tax payments, domain renewals etc
  • When is your next holiday?

This may look like a long list, but I find that most business owners have virtually all these answers in their head. Those they don’t, should be on your dashboard or one of your 3 Pieces of Paper™. that help you run a successful business.

If you need help with your business planning, we have a new workbook coming soon. Why not pre-register for your copy now? Email shirley.mansfield@coachsme.co.uk

Shirley Mansfield
Master Business Problem Solver

When you’re ready here are three ways I can help you build your business:

1. Follow me on X / LinkedIn and let me know the business challenges keeping you awake at night that you want to solve. Click here to email. Connect with me, The Business Planning Coach on Facebook and Instagram.

2. Grab a copy of my book The Grown-Up Business (paperback and Kindle). Get the tools and inspiration you need to go to the next level of wealth.

3. Work with me on your growth business to overcome the blockages, hurdles & problems that are holding you back. Join the community, email me with Let’s Get Started in the subject line or book a 30 Discovery Meeting using Calendly


“If you run a business, then buy this book. Not tomorrow, today!”
~ Sam Carpenter Work The System

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