If you’re new to the world of small business, it can be tempting to try to do too much, too quickly. After all, fortune favors the bold, as the saying goes. When you’re outperforming all your business plan projections during your first few months in operation, it feels logical to start expanding right away.
One of the first steps as you prepare to launch your new business is creating a business plan. Once your business plan is complete, it should be monitored carefully to make sure you’re meeting your goals. Some businesses conduct a quarterly business plan review, while others opt for monthly updates.