If a company is to stand the test of time, then its business plan must do the same.

Often, organizations put great effort into crafting their original plan — detailing their team, marketing, operations, finances, risks, etc. — only to file it away once it has achieved its initial purpose. However, the best business plans should be living documents.

By continually reassessing and revising their plan, businesses can remain on the right path, and be prepared to confront new challenges and seize new opportunities.

Topics within this article include:

• Who is a plan really for?
• Why plan?
• What are your fundamentals?
• From strategy to action
• Role of your advisors
• Do businesses rely on their advisors enough?
• Planning to plan
• Business plan checklist