Major changes in internal situation.

The other major change which can affect your business plan is an Internal Change.

The most obvious major changes are changes in ownership, which are frequently the result of changing partnerships, divorces, deaths, and investment. The company takes on new partners, or sells out to a larger company. On a more ominous note, the company suffers significant declines in sales, profits, and financial health.

Always keep the revision in perspective. While you do want to review and correct constantly, you don&undefined;t want to change a strategy unless you are sure it isn&undefined;t working or you see real changes in the underlying assumptions that formed the foundations of strategy.