Put it on paper: a short guide to writing a business plan

Custom Home, Sept-Oct, 2002 by Steve Maltzman

MEASURE PROGRESS. A system to measure the progress of your business plan is as important as the plan itself. You need to monitor how you are doing in comparison with your plan on a timely basis. Measurements must be both financial and non-financial. From a financial point of view. it is important to regularly compare your operating budget to your actual results. Non-financial goals should also be monitored regularly to identify areas where you are falling short of your goals.

For more detailed guidance, the National Association of Home Builders has recently updated its "Builder Business Plan Kit" (in both CD and paperback versions), which includes worksheets and forms to assist you in writing your plan. For more information contact Builderbooks at 800.223.2665 or www. builderbooks.com.

Once you have completed your plan it should become an essential working document for the years to come, a dynamic document that should be modified as changes in your environment take place.

Steve Maltzman, CPA, acts as part-time CFO for builders and remodelers throughout the country. He is based in Redlands, Calif.