After completing a business plan, an entrepreneur’s next move determines whether the vision turns into a functioning venture or stays on paper. The short answer is: after creating a business plan, an entrepreneur must secure funding, register the business legally, set up operations, build a team, and begin executing the plan while monitoring progress closely.
That’s the stage where planning turns into action—where research, strategy, and ambition start shaping a real business.
Understanding the Shift from Planning to Execution
A business plan outlines what you’ll do, why it matters, and how it’ll make money. But execution is where everything gets tested. Many entrepreneurs treat the plan as a final product when, in reality, it’s just the launchpad. Once it’s ready, you move into the operational phase—making decisions about funding, structure, compliance, and growth priorities.
This phase demands agility, financial discipline, and a practical mindset. Let’s go through each step in detail.
1. Secure the Right Financing
Before any idea becomes operational, you need capital. Even if the business plan looks promising, nothing starts without adequate funds.
Here’s what most entrepreneurs do next:
a. Assess Funding Needs
Review your plan’s financial projections to estimate how much money you’ll need for at least the first 12–18 months. Consider:
- Start-up costs (equipment, software, legal fees)
- Initial inventory and supplies
- Marketing and launch expenses
- Salaries or stipends for early staff
b. Choose the Best Funding Option
Depending on the scale of the business and your goals, funding options may include:
- Bootstrapping: Using personal savings or reinvesting early profits.
- Loans: From banks, microfinance institutions, or government programs.
- Investors: Angel investors, venture capitalists, or crowdfunding platforms.
- Grants: Especially for sectors like tech innovation, sustainability, or community-based projects.
c. Prepare an Investor Pitch
If your plan includes external funding, refine it into a concise pitch deck highlighting:
- Market opportunity
- Revenue model
- Competitive edge
- Growth potential
For example, if you’re opening a local fitness studio, your pitch should showcase not just the business idea but the location’s demographic data, competitive pricing, and community outreach plans.
2. Register and Legalise the Business
Many new entrepreneurs underestimate how important this step is. Registering and structuring your business legally protects you and ensures compliance with tax laws and regulations.
a. Choose a Legal Structure
Your structure impacts taxation, liability, and management. Common structures include:
- Sole Proprietorship: Simple but offers no liability protection.
- Limited Liability Company (LLC): Balances flexibility and protection.
- Partnership: Suitable for ventures with multiple founders.
- Corporation: Ideal for businesses expecting investors and large-scale growth.
b. File the Necessary Paperwork
Register your business name, obtain an Employer Identification Number (EIN), and apply for relevant licences or permits.
This varies by country and industry. For instance:
- In the UK, register with Companies House.
- In the US, file through state-specific business registration offices.
c. Protect Intellectual Property
If your plan involves a unique brand, software, or product, file trademarks or patents early. This prevents copycats and builds long-term brand security.
3. Build an Operational Framework
With financing and registration in place, the next priority is establishing systems that allow your business to operate smoothly.
a. Set Up Infrastructure
Depending on the business type:
- Secure office or retail space.
- Build your website and online presence.
- Purchase essential software (CRM, accounting tools, etc.).
- Establish supply chains and vendor contracts.
b. Create Internal Processes
Design workflows for:
- Sales and customer service
- Product development
- Financial management
- Compliance reporting
Think of this as the “operating manual” that turns your plan into daily action.
For instance, a small café might outline everything from supplier delivery schedules to inventory tracking and quality checks.
4. Hire and Train the Right People
No business succeeds in isolation. A strong team turns strategy into reality.
a. Identify Key Roles
Prioritise essential positions first:
- Operations manager
- Marketing executive
- Sales representative
- Customer service staff
- Accountant or bookkeeper
b. Recruit Strategically
Look for people who align with your mission, not just their skillset. Use a mix of online platforms, networking, and referrals.
c. Provide Training
Even the most skilled recruits need onboarding. Develop clear SOPs (standard operating procedures) and training modules to ensure everyone understands the brand’s goals and customer expectations.
5. Launch the Business Strategically
Opening day isn’t just about flipping the “Open” sign—it’s about making an entrance that sticks.
a. Test Before Launch
Conduct a soft launch or beta test. For example:
- A new e-commerce store can open for “invite-only” users to gather feedback.
- A local service provider can offer limited promotions to test systems.
b. Build Pre-Launch Hype
Start marketing weeks before launch through:
- Social media teasers
- Local press releases
- Influencer partnerships
- Email newsletters
c. Execute a Launch Plan
Your business plan likely includes marketing strategies—now’s the time to act.
Track:
- Website traffic
- Conversion rates
- Customer acquisition costs
Then adjust your approach based on early performance.
6. Establish Financial Systems and Controls
After the launch, financial management becomes the backbone of your survival.
a. Set Up Bookkeeping and Accounting
Use reliable accounting software such as QuickBooks or Xero to:
- Track cash flow
- Monitor profit margins
- Prepare for tax filing
b. Open a Business Bank Account
Keep personal and business finances separate. This not only simplifies accounting but builds credibility when applying for loans or grants.
c. Prepare for Taxes and Compliance
Stay informed about tax filing deadlines and local business regulations. Hiring an accountant early helps avoid future penalties.
7. Build Your Brand and Marketing Foundation
Now that operations are live, focus shifts to creating awareness and credibility.
a. Develop a Brand Identity
Design a consistent brand image—logo, colour palette, voice, and values.
For example, if your brand emphasises sustainability, use eco-friendly packaging and green visuals.
b. Implement a Marketing Strategy
A modern marketing mix should include:
- Content marketing: Blog posts, videos, podcasts.
- SEO and SEM: For organic and paid reach.
- Social media: Engaging followers through authentic interactions.
- Email campaigns: Retaining leads and nurturing relationships.
c. Build Partnerships
Collaborate with complementary businesses or local organisations. Partnerships expand reach and credibility.
8. Monitor Performance and Adapt
Entrepreneurship is about constant learning. After setting things in motion, track performance regularly.
a. Use Key Performance Indicators (KPIs)
Measure:
- Revenue growth
- Customer retention
- Lead conversion rate
- Operating expenses
- Return on marketing investment
b. Gather Feedback
Customer feedback highlights what’s working and what needs improvement. Use surveys, online reviews, or social media interactions to gather insights.
c. Adjust the Strategy
Be ready to pivot. Many successful businesses evolved because they adapted early. For instance, Netflix started with DVD rentals before becoming a streaming platform.
9. Build Relationships and Networks
Beyond operations, building a support network accelerates growth.
a. Join Business Associations
Groups like local Chambers of Commerce or industry bodies offer mentorship, funding tips, and visibility.
b. Attend Networking Events
Face-to-face interactions can open doors that online platforms can’t. Meeting other entrepreneurs provides inspiration and partnership opportunities.
c. Find a Mentor
Experienced mentors offer guidance in decision-making, especially in the first year of operation.
10. Evaluate and Update the Business Plan
A business plan isn’t static—it evolves with your business.
Review it at least every quarter to:
- Compare projections vs. actual results
- Update market analysis
- Adjust strategies based on new insights
This keeps your plan aligned with real-world conditions and future growth.
Common Pitfalls Entrepreneurs Should Avoid
While executing after a business plan, avoid these traps:
- Overestimating sales: Always prepare for slower growth.
- Ignoring legal compliance: Penalties can derail early success.
- Skipping financial records: Poor bookkeeping hides potential issues.
- Resisting adaptation: Markets evolve—flexibility keeps you competitive.
- Burnout: Building a business takes time; balance work and rest.
Helpful Comparison: Business Plan vs Execution Phase
| Aspect | Business Plan | Execution Phase |
| Focus | Research and strategy | Action and implementation |
| Output | Documented roadmap | Operational business |
| Resources | Planning tools, forecasts | Funding, staff, systems |
| Timeframe | Pre-launch | Post-launch and ongoing |
| Risk | Theoretical | Real-world exposure |
This table shows how the priorities shift from “planning” to “doing.” The key is transitioning efficiently without losing sight of the vision.
Bringing It All Together
So, what must an entrepreneur do after creating a business plan?
In essence, they must turn strategy into motion—by securing funds, formalising the business legally, setting up operations, hiring, launching effectively, and continuously refining both the plan and execution.
A business plan may guide the journey, but execution decides success. Entrepreneurs who stay proactive—learning, adjusting, and staying financially disciplined—turn ideas into sustainable businesses that grow beyond the initial concept.
FAQs
How soon should an entrepreneur start executing their business plan after it’s completed?
Ideally, execution should begin as soon as financing and legal formalities are in place. Waiting too long can cause loss of momentum or allow competitors to act on similar ideas. However, ensure foundational elements—funding, registration, and logistics—are fully secured before launch.
Should a business plan be shared with potential investors or kept private?
It depends on the purpose. For investors, share a refined version that highlights profitability, scalability, and market analysis while omitting sensitive trade secrets. Always include non-disclosure agreements (NDAs) if proprietary information is involved.
What are the first operational tasks to prioritise after the plan is ready?
Start with essential tasks like registering the business, opening a bank account, setting up accounting systems, and establishing your online presence. These form the core operational backbone before hiring staff or running large-scale marketing campaigns.
How often should an entrepreneur review or update their business plan?
It’s best to review your plan quarterly during the first year of operation. Regular updates ensure that financial projections, market assumptions, and growth strategies remain realistic and aligned with real-world performance.
What if an entrepreneur discovers flaws in the business plan after starting operations?
This is common and not a failure. The best approach is to treat the plan as a living document—adjust projections, refine strategies, and learn from early data. Flexibility is key; many successful businesses pivot after initial feedback or market shifts.
