18

Plan of Action

Goals:

• Identify actions to be accomplished within six months to implement the Business Plan

Skills:

• Translate goals into implementing actions

Overview:

Each student puts forth a great deal of effort developing a realistic business plan and have reason to be proud of their work. For most, it is probably the most comprehensive and long-term project they have undertaken.

The final step in preparing the Business Plan is to establish a simple, but specific, list of actions that need to be accomplished in order to implement the Business Plan. This list is known as the Plan of Action.

This chapter helps students transform the integrated schedule they developed in the Cash Flow Analysis into a discrete set of time-ordered actions needed to implement the Business Plan.

Students learn that daily implementation of their Plan of Action will transform their Business Plan into a business.