Planning Tools

• Planning tools enable entrepreneurs to transform their business plan into an action plan.
• Analyse each main activity by breaking it down into smaller activities
• identify resources, such as people, budget and time, that will be needed
• prepare a schedule showing the main activities of the plan
• work backward to prepare timeframes
• decide who will make each activity happen and by when
• allocate a budget for each part of the action plan
• create a projected income statement from the business plan to provide financial information
• develop control methods to highlight problems
• identify risks and plan for unforeseen events
• monitor the plan regularly