Always go over your business plan! #TipsThursday #BizToBizPodcast

8 Feb 2024 · 1 min

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In this brief segment from the BizToBiz Podcast, the hosts discuss the critical habit of regularly reviewing your business plan. They emphasize examining core financial components—expenses, cost of goods sold, and pricing—to ensure the business is meeting its profit objectives. The conversation underscores that many businesses may underprice their offerings and highlights the need to set clear profit goals as part of ongoing strategic planning.

Yeah, yeah. One of the things is, you know, making sure, like, to— as part of the business plan is, you know, keeping up with, like, your, you know, examining your expenses, examining your cost of goods, examining how much you're charging, because maybe you're not charging enough, and have a goal for, like, oh, what's your profit goal?
That's exactly what, you know, I was going to get into too, because, like, so business— you've been in business, right?
Yeah.
And, you know, you take a look at your business plan and you realize like, oh shit, I've been, you know, I missed the mark. I could have, you know, inflation and all this other stuff. You know, you should be putting that into consideration and revising your business plan, you know, for the time that we're in.