A good business plan is never done. If your business plan is finished, then your company is also finished.
It’s a lot like the legendary farmer’s axe, that has had its handle changed four times and its blade changed three times, but it’s still the same axe.
As your company gets used to the planning process, the business plan is always a work in progress. It gets a big refreshment every year, and a review and course correction every month.
Every so often, as business plan events come up, you spin out of your business plan a formal output piece, whether it’s a pitch presentation, an elevator speech, or a full-fledged formal business plan document.
But that’s not the plan, that’s just output. It’s the latest version. But the plan goes on, like steering, walking, dribbling, and navigation.
Don’t ever wait for a plan to be done. Get going.
(Note: this is an excerpt from The Plan as You Go Business Plan)