Now what? The plan is done and it is cohesive: The pieces fit together and your timing is right.
Time to put your task list in a calendar format and get started. With a plan in place that works on the drawing board, it is now time to prove your concept in the real world.
Conserving capital is an extremely wise posture to adopt during this phase. Choosing as many options as possible to manage your cash flow creatively will assist you in not falling into the most common cause of business failures: Inadequate capitalization.
A system also needs to be in place to measure your results and compare them with what you anticipated in your plan. It is crucial to monitor your progress to make adjustments along the way. Most businesses will not follow the plan to the letter, and it is unrealistic to expect that everything will fit exactly as planned. However, the process that you have engaged in will have set the stage for you to respond to the changes as they arise. If you had not gone through the planning process, you would not be adequately prepared to adjust to those changes.