But, do they revisit it frequently? Is it fluid? Does it get updated? No.
Rarely, if ever do most small business owners actually update their plan. The version they took to the bank is the last version ever drafted (until they need another loan).
Do they operate according to the plan? Maybe. But, for the most part, the plan is placed in a drawer and collects dust.
I've found that one of the valuable uses for the Business Model Canvas is helping a business keep their plan fluid. Helping them think through changes and make changes to the plan is best done when they have a visual tool that makes it simple and easy to think through adaptations, changes and improvements. The business model canvas keeps the business planning process alive, even after the business plan document is stuck in a drawer to collect dust.
What helps you maintain perspective of your company's direction and keep the plan current?