The business plan plays a key role in allocating resources throughout a business so that the objectives set in the plan can be met. A good business plan software program will almost certainly help you to do this so if your strengths lye elsewhere, it should not be a barrier to your success.
Once you have reviewed your progress to date and identified your strategy for growth, your existing business plan may look dated and may no longer reflect your business' position and future direction.
When you are reviewing your business plan to cover the next stages, it's important to be clear on how you will allocate your resources to make your strategy work.
For example, if a particular business unit or department has been given a target, the business plan should allocate sufficient resources to achieve it. These resources may already be available within the business or may be generated by future activity.
In practice this could mean recruiting more office staff, spending more on marketing or buying more supplies or equipment. You may want to provide funds through current cashflow, generating more profit or seeking external funding. In general, it is always better to fund future growth through revenue generation.
However, you should do some precise budgeting to decide on the right level of resourcing for a particular unit or department. It's important that resources are prioritised, so that areas of a business which are key to delivering the overall aims and objectives are adequately funded. If funding isn't available this may involve making cutbacks in other areas.
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