The most important cause of business stagnation or failure is the lack of planning by many business owners or management teams. For many firms, growth can produce dire financial consequences if a realistic plan is not in place.”

Whether planning a start-up business, seeking new or additional capital, searching for new markets or key employees or desiring a greater share of the market for existing products and services, a solid up-to-date business plan is essential to ensure a successful effort.

Just as a business develops a marketing strategy each year, so should businesses review and revise their business plans. Times change and short and long term business plans must reflect changing market and business conditions to provide current and future steps to business growth.