Importance of Business Plan

Creating a business plan forces you into disciplined thinking if you do an honest job. An idea may sound great in entrepreneur’s mind, but when he put down the details and numbers, it may fall apart. This includes all verticals effecting the business.

Importance of Monthly Reviews

If you regularly assess your performance against the plans and targets you have set, you are more likely to meet your objectives. It can also signpost where and why you're going astray.

SMART Targets

The Business plan may set strategic goals, these are unlikely to be achieved unless you use SMART objectives or targets, i.e. Specific, Measurable, Achievable, Realistic and Timely. You can monitor the performance of employees, teams or a new product or service by using appropriate performance indicators.

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