Most of the newer vehicles are equipped with GPS (Global Positioning System) to help you navigate from Point A to Point B. As anyone with a GPS knows when you veer from the prescribed path your car will begin saying route recalculation as it tries to find you another route to your destination.
A business, like a traveler, needs a roadmap to help them get from Point A (start-up) to Point B (a specific place along the business life cycle). Your business plan should be your business global positioning system as it considers the various routes and paths available to help you reach your goal. Just like your automobile’s system, your business plan can allow for extra stops along the way. These stops might include considering new products, evaluating corporate growth, or investigating some new market trends.
Once the purpose of these stops has been completed, you can resume your journey. At this point, you may decide you want to take a different route to your anticipated destination. As you enter the new data into the system, you will activate the “route recalculation” feature in your car or business plan. This recalculation may be necessary due to unforeseen road barriers. For your car trip, that may be road construction. For your business, it may be a market fluctuation.
Understanding how to use route recalculation can be an important management tool to help both you (in your automobile) and your business reach the desired destination.