Evaluate, Test, Update and Revise Your Business Plan
The way you evaluate and analyze your performance based on the business plan is the guide for making your way along, and it must be a part of your job so you can identify mistakes and avoid repeating them. Evaluate according to the time period you define, such as monthly or weekly, and based on the small and secondary objectives you have set. To what extent did you stick to the plan? What percentage of progress have you achieved, and what score do you give yourself? To what extent have you accomplished your goals? From every failure, learn how to win in the future and change your course of action if needed. Turn your failures into opportunities.
If you are far from achieving your goals, ask whether something was wrong with the business plan or with the way it was implemented. The plan may be outdated, or changes may have happened in the industry, in technology, or in macro policies, or due to your competitors' performance. When the iPhone entered the market, the company would never have thought that Samsung could become its competitor with the same features and perhaps even more options.
If possible, have a test run of your business plan on a small scale, and measure the extent to which your goals have been realized. Have a long-term plan, but consider a short time for your runs and tests.
Changing a business plan is a must. There is no business plan which doesn't require updating, for instance when the three or five-year period is over, when you need to add money, when your market or industry changes, or when your management team changes. The business plan is not a permanent document. It is not right to make changes in the business structure without making changes in the business plan. Don't apply any changes unless you have already updated your business plan.