Small businesses are forever evolving to meet the needs of their customer base and remain competitive. Determining the right approach to adapt and grow can be the difference between success and failure.
A business plan is a blueprint that identifies obstacles and opportunities a company may face. The plan includes carefully researched financial projections, budgets and cost analyses, plus marketing and operational strategies.Contractors should update their business plan when considering:Introducing new services
Opening a new office
Bringing in new management
Changing ownership
Expanding a service area
Modifying the company’s vision
Securing a different type of financingDave Kaster, principal at Fidelis in Green Bay, Wisconsin, has written more
