To stay on top of the changing economy, update your plan

Q: I’m a bit nervous about this season since I keep hearing reports of a downturn. How often should I be updating my plans to stay on top of the changing economic climate?

A: You should be doing a major update to your plans once a month and review them each week to make further refinements. And remember, this is not just a strategy for staying on top of a changing economic climate — this should be your default way of planning your business. You need to stay agile to be able to quickly respond to the trends within your business, as well as macro economic trends.