As the world increasingly focuses on sustainability and innovative materials, carbon thermoplastics have emerged as a game-changer in various industries, from automotive to aerospace and beyond. These advanced materials, known for their lightweight properties and exceptional strength, offer a promising avenue for entrepreneurs looking to enter the burgeoning field of sustainable manufacturing. However, launching a successful business in this niche requires a solid understanding of the market, technical expertise, and strategic planning. This article will guide aspiring business owners through the essential steps to establish a carbon thermoplastic venture, exploring everything from market research and product development to sourcing materials and navigating regulatory requirements. Whether you’re a seasoned entrepreneur or a newcomer to the industry, understanding the intricacies of this dynamic sector can pave the way for a successful and impactful business.

The global market for carbon thermoplastics has been experiencing significant growth, driven by increasing demand across various industries such as automotive, aerospace, construction, and consumer goods. As companies strive to enhance the performance and sustainability of their products, the use of advanced materials like carbon thermoplastics has become increasingly popular. As of 2023, the global carbon thermoplastics market is estimated to be valued at several billion dollars, with projections indicating a compound annual growth rate (CAGR) of around 10-15% over the next five to ten years. This growth is attributed to several factors, including the rising need for lightweight materials that contribute to fuel efficiency and lower emissions, as well as the growing emphasis on sustainable manufacturing practices. In the automotive sector, carbon thermoplastics are gaining traction due to their strength-to-weight ratio, which enhances vehicle performance while reducing overall weight, leading to improved fuel efficiency. The aerospace industry is also a significant contributor to market expansion, as manufacturers seek materials that can withstand extreme conditions while minimizing weight. Moreover, advancements in production technologies and the increasing acceptance of composite materials are further propelling market growth. Innovations in recycling processes for thermoplastics are enhancing their appeal, making them a more sustainable option in line with global environmental initiatives. Regions such as North America, Europe, and Asia-Pacific are key markets for carbon thermoplastics, with Europe leading in terms of technological advancements and adoption in high-performance applications. As countries prioritize green technologies and sustainable practices, the demand for carbon thermoplastics is likely to continue its upward trajectory, presenting ample opportunities for new entrants in the industry. For entrepreneurs looking to start a carbon thermoplastic business, understanding this market landscape is crucial. Identifying specific applications, target industries, and potential partnerships will be essential steps in capitalizing on the growth opportunities that this dynamic market presents.

Identifying the target market is crucial for the success of a carbon thermoplastic business. This innovative material, known for its lightweight, strength, and versatility, appeals to a wide range of industries. One of the primary markets for carbon thermoplastics is the aerospace sector, where the demand for lightweight materials that can withstand extreme conditions is ever-increasing. Companies in this industry seek solutions that enhance fuel efficiency and overall performance, making carbon thermoplastics an attractive option. The automotive industry is another significant target market. As manufacturers strive to meet stricter emissions regulations and improve fuel economy, the need for lighter components has led to a growing interest in carbon thermoplastics. This market includes both traditional automotive companies and emerging electric vehicle manufacturers looking to innovate and differentiate their products. In addition, the sporting goods and recreational equipment sectors present substantial opportunities. High-performance bicycles, sports gear, and other outdoor equipment benefit from the strength-to-weight ratio of carbon thermoplastics, appealing to both manufacturers and consumers who prioritize performance and durability. Furthermore, the construction and building materials industry is beginning to explore the potential of carbon thermoplastics for applications such as lightweight structural components and advanced composites. This market is driven by the need for sustainable materials that can reduce energy consumption in buildings. Lastly, the medical device and healthcare sector is another emerging area for carbon thermoplastics, where biocompatibility and sterilization properties are essential. The ability to produce customized, lightweight, and strong components makes carbon thermoplastics an attractive choice for medical equipment and implants. By understanding these diverse markets and their specific needs, businesses can tailor their products and marketing strategies to effectively reach potential customers and establish a foothold in the carbon thermoplastic industry.

When considering the establishment of a carbon thermoplastic business, it's essential to evaluate various business models that can effectively align with market demands and operational capabilities. The choice of business model will shape your strategy, revenue streams, and customer engagement. Here are some prevalent models to consider:
1. Manufacturing and Direct Sales: This model involves producing carbon thermoplastic materials in-house and selling them directly to manufacturers, automotive companies, or other end-users. By controlling the manufacturing process, you can ensure quality and tailor products to specific customer needs. However, this model requires significant upfront investment in equipment, technology, and skilled labor.

2. Contract Manufacturing: In this approach, you can partner with established manufacturers who have the necessary equipment and expertise. Your business would focus on providing the carbon thermoplastic formulations or designs, while the contract manufacturer handles production. This model reduces capital investment risks and allows for scalability without the burden of owning manufacturing facilities.
3. Research and Development Services: If your strength lies in innovation, consider a model focused on R&D. This could involve developing new carbon thermoplastic products or improving existing ones. You could charge clients for development services or license your innovations to other companies, creating a revenue stream based on intellectual property.
4. Custom Solutions Provider: Many industries require specialized materials that meet specific performance criteria. By positioning your business as a custom solutions provider, you can work closely with clients to develop tailored carbon thermoplastic products. This model emphasizes collaboration and can lead to long-term contracts, though it may also involve longer lead times and more complex project management.
5. E-commerce Platform: With the rise of digital commerce, consider setting up an online platform to market and sell carbon thermoplastic products. This model allows you to reach a broader audience and can be particularly effective for standard products. You can also integrate educational content about the benefits and applications of carbon thermoplastics to attract customers.
6. Subscription-Based Model: For businesses that develop specialized carbon thermoplastic materials, a subscription-based model could provide a steady revenue stream. Clients could pay a recurring fee to receive a certain volume of product or access to exclusive innovations and updates. This approach can enhance customer loyalty and predictability in revenue.
7. Partnerships and Collaborations: Forming strategic partnerships with companies in related industries can enhance your business model. Collaborating with automotive manufacturers, aerospace companies, or technology firms can facilitate product development and expand your market reach. Joint ventures can also help share the costs and risks associated with new product lines.
8. Recycling and Sustainability Focus: Given the increasing emphasis on sustainability, a business model that incorporates recycling carbon thermoplastics can attract environmentally conscious customers. This could involve collecting used materials, reprocessing them, and selling them as recycled products, creating a closed-loop system that appeals to both manufacturers and consumers. Each of these models comes with its own set of challenges and opportunities. Careful consideration of market trends, customer needs, and your operational capabilities will be essential in selecting the best path for your carbon thermoplastic business. Adapting and evolving your business model over time will also be crucial to maintaining competitiveness in this dynamic industry.

In the rapidly evolving market of carbon thermoplastics, understanding the competitive landscape is crucial for any entrepreneur looking to establish a foothold in this sector. The industry is characterized by a mix of established players and emerging startups, each vying for market share through innovation, sustainability, and cost-effectiveness. Key players in the carbon thermoplastic market include large chemical manufacturers and specialized material suppliers. Companies such as BASF, Toray Industries, and Solvay are at the forefront, leveraging their extensive research and development capabilities to create advanced materials that meet the demands of various industries, including automotive, aerospace, and consumer goods. These established firms benefit from significant economies of scale, strong brand recognition, and extensive distribution networks, making it challenging for new entrants to compete directly on price. Emerging startups often focus on niche applications or innovative product offerings that differentiate them from larger competitors. These companies may concentrate on developing sustainable production methods, such as using bio-based feedstocks or recycling carbon fibers, appealing to environmentally conscious consumers and industries. Additionally, startups might target specific markets where they can provide specialized solutions, thereby avoiding direct competition with industry giants. Another critical aspect of the competitive landscape is the emphasis on technological advancement. Companies are investing heavily in research and development to enhance the performance characteristics of carbon thermoplastics, such as impact resistance, thermal stability, and lightweight properties. As a result, new entrants should prioritize innovation and consider forming strategic partnerships with research institutions or technology firms to accelerate their product development processes. Moreover, the regulatory environment surrounding materials production and environmental impact is becoming increasingly stringent. Companies that can demonstrate compliance with sustainability standards and regulations will likely gain a competitive edge. Entrepreneurs entering this space should stay informed about current and upcoming regulations and consider integrating sustainable practices into their business models from the outset. Finally, the ability to effectively market and distribute products is essential in this competitive landscape. Establishing strong relationships with key suppliers, manufacturers, and end-users will be critical in gaining traction. Building a brand that resonates with target customers—by highlighting unique selling propositions such as performance, sustainability, or cost savings—can significantly impact a new business's success. In summary, the competitive landscape for carbon thermoplastic businesses is diverse and dynamic, characterized by established giants and innovative newcomers. Success in this market will depend on a combination of technological innovation, strategic partnerships, regulatory compliance, and effective marketing strategies.

When starting a carbon thermoplastic business, it's essential to navigate the complex landscape of legal and regulatory requirements. These regulations can vary widely based on the geographic location of the business, the specific products being manufactured, and the intended markets. Below are key areas to consider:
1. Business Structure and Registration: Choose a suitable business structure (e.g., sole proprietorship, partnership, corporation) and register your business name with the appropriate local, state, and federal authorities. This step ensures that your business is legally recognized and can operate within the law.

2. Permits and Licenses: Depending on your location, you may need specific permits and licenses to operate a manufacturing facility. These can include environmental permits, health and safety licenses, and zoning permits. It’s crucial to check with local and state regulatory agencies to determine the necessary permits for your operations.
3. Environmental Regulations: Manufacturing carbon thermoplastics can have environmental impacts, so compliance with environmental laws is critical. This may involve obtaining permits under the Clean Air Act and the Clean Water Act in the United States, as well as adhering to local environmental regulations. You may also need to conduct assessments to evaluate the potential environmental impact of your operations and implement waste management strategies.
4. Health and Safety Regulations: The Occupational Safety and Health Administration (OSHA) regulations apply to manufacturing businesses to ensure safe working conditions. You must develop and implement safety protocols, provide employee training, and maintain safety records. Additionally, you may need to comply with regulations regarding hazardous materials if your processes involve chemicals or other substances.
5. Product Compliance and Standards: Depending on your target market, your carbon thermoplastic products may need to meet specific industry standards and certifications. This could include compliance with ASTM standards, ISO certifications, or other product-specific regulations. Understanding these requirements is vital for marketing your products and ensuring customer safety.
6. Intellectual Property: Protecting your innovations and proprietary processes is important in the competitive field of materials manufacturing. Consider registering patents for any unique formulations or manufacturing methods, and be aware of trademarking your brand and products to safeguard your intellectual property.
7. Employment Laws: Comply with federal and state employment laws, including regulations regarding wages, working hours, employee rights, and workplace discrimination. Ensure that you are aware of labor laws relevant to your workforce, including those concerning unionization and employee benefits.
8. Insurance Requirements: Obtain the necessary insurance to protect your business against liabilities, including general liability insurance, product liability insurance, and workers' compensation insurance. This coverage will help mitigate financial risks associated with accidents, product defects, and other unforeseen issues.
9. Trade Regulations: If you plan to import raw materials or export finished products, familiarize yourself with trade regulations, tariffs, and customs requirements. Understanding these regulations will help you navigate international markets effectively.
10. Sustainability Regulations: As environmental concerns continue to grow, there may be increasing regulatory pressures related to sustainability practices. Investigate any local or national initiatives that promote sustainable manufacturing, and consider implementing eco-friendly practices to stay ahead of regulatory trends and attract environmentally conscious consumers. By thoroughly understanding and addressing these legal and regulatory requirements, you can establish a solid foundation for your carbon thermoplastic business, ensuring compliance and positioning yourself for long-term success in the industry.

When embarking on the journey of establishing a carbon thermoplastic business, understanding the various financing options available is crucial for securing the necessary capital to launch and sustain operations. Here are some avenues to consider:
1. Self-Funding: Personal savings can be a primary source of funding. This option allows for complete control over the business without incurring debt or giving away equity. However, it carries the risk of personal financial loss.

2. Friends and Family: Seeking financial support from friends and family can be a viable option. This approach can provide initial capital with potentially favorable terms, but it's essential to maintain clear communication and set expectations to avoid straining personal relationships.
3. Bank Loans: Traditional bank loans are a common way to finance a startup. Banks offer various loan products tailored for small businesses, including term loans and lines of credit. A solid business plan, good credit score, and collateral are often required to secure these loans.
4. Small Business Administration (SBA) Loans: The SBA provides loan programs designed to assist small businesses. These loans typically come with lower interest rates and longer repayment terms than conventional loans, making them an attractive option for new entrepreneurs.
5. Angel Investors: Angel investors are individuals who provide capital in exchange for equity or convertible debt. These investors often bring valuable industry experience and mentorship, in addition to funding, which can be advantageous for a startup in a niche market like carbon thermoplastics.
6. Venture Capital: For businesses with high growth potential, venture capitalists may be interested in investing. While they provide substantial funding, they typically seek a significant ownership stake and a say in business operations. This option is more suitable for those planning rapid expansion.
7. Crowdfunding: Platforms like Kickstarter or Indiegogo allow entrepreneurs to raise small amounts of money from a large number of people, often in exchange for early access to products or other rewards. This method not only raises funds but also helps validate the business idea and build a customer base.
8. Grants and Competitions: Various governmental and private organizations offer grants and business competitions aimed at promoting innovation in sustainable technologies. Researching and applying for these opportunities can provide non-dilutive funding to support initial development.
9. Strategic Partnerships: Forming partnerships with established companies in the plastics or manufacturing sectors can lead to shared resources and investment. Strategic partners may be interested in funding a new venture that aligns with their business goals, especially in the environmentally friendly materials space.
10. Incubators and Accelerators: These programs provide startups with funding, mentorship, and resources in exchange for equity. Participating in an incubator or accelerator can not only provide financial support but also invaluable networking opportunities and access to industry expertise. Each financing option comes with its own set of advantages and challenges. It is essential to assess the specific needs of the business, the desired level of control, and the willingness to share equity when deciding on the most appropriate funding strategy. Creating a detailed business plan and financial projections will also help in attracting potential investors and lenders.

When venturing into the carbon thermoplastic industry, effective marketing and sales strategies are crucial for establishing a strong market presence and driving growth. Here are several strategies to consider:
1. Identify Target Markets: Understanding your target audience is fundamental. Research industries that utilize carbon thermoplastics, such as automotive, aerospace, electronics, and sports equipment. Tailor your marketing efforts to meet the specific needs and preferences of these sectors.

2. Develop a Unique Value Proposition: Clearly define what sets your carbon thermoplastic products apart from competitors. This could be superior quality, innovative features, sustainability, or cost-effectiveness. Your value proposition should resonate with the target market and address their pain points.
3. Build a Strong Online Presence: Create a professional website that showcases your products, services, and expertise. Utilize search engine optimization (SEO) techniques to improve visibility in search engine results. Engaging content, such as blogs, case studies, and informative articles, can position your business as a thought leader in the industry.
4. Leverage Social Media: Utilize platforms like LinkedIn, Twitter, and Instagram to connect with industry professionals and potential customers. Share valuable content, industry news, and product updates to engage your audience. Social media can also be a powerful tool for networking and establishing partnerships.
5. Attend Industry Trade Shows and Conferences: Participating in relevant trade shows and conferences allows you to showcase your products, network with potential clients, and learn about industry trends. These events are also an opportunity to gather feedback on your offerings and refine your marketing strategy.
6. Offer Samples and Demonstrations: Providing samples of your carbon thermoplastic products can be an effective way to win over potential customers. Hosting live demonstrations or webinars can also help illustrate the advantages and applications of your products, enabling prospects to see their benefits firsthand.
7. Utilize Direct Sales and B2B Strategies: Develop a targeted sales approach that includes direct outreach to potential clients. Utilize email marketing campaigns and personalized follow-ups to nurture leads. Building relationships with key decision-makers in target industries can be particularly effective.
8. Foster Partnerships and Collaborations: Collaborating with other businesses, such as suppliers or research institutions, can help expand your reach and enhance your product offerings. Consider joint marketing initiatives or co-developing products that leverage each partner's strengths.
9. Invest in Customer Education: Educating potential customers about the benefits and applications of carbon thermoplastics can drive demand. Create informative materials, such as whitepapers, videos, and infographics, to help prospects understand how your products can solve their specific challenges.
10. Monitor and Adapt: Continuously assess the effectiveness of your marketing and sales strategies. Collect data on customer feedback, sales performance, and market trends. Use this information to refine your approach, adapt to changing market conditions, and stay ahead of the competition. By implementing these strategies, you can position your carbon thermoplastic business for success, build a loyal customer base, and drive sustainable growth in a competitive market.

Operations and logistics are critical components in establishing a successful carbon thermoplastic business. This sector requires a well-planned approach to ensure efficiency, quality, and sustainability throughout the production and supply chain processes. To begin with, sourcing high-quality raw materials is essential. Carbon thermoplastics typically involve advanced polymers reinforced with carbon fibers, which can be sourced from a variety of suppliers. Establishing strong relationships with reliable suppliers will help maintain consistent quality and supply, which is crucial for production continuity. It’s also important to consider local versus international suppliers, as this can impact lead times, transportation costs, and overall sustainability efforts. Once raw materials are secured, the next step involves setting up an efficient manufacturing process. This includes selecting appropriate machinery and technology for processing carbon thermoplastics, such as extrusion, injection molding, or compression molding equipment. Investing in automation can enhance production efficiency and reduce labor costs. It is also vital to establish strict quality control measures to ensure that the final products meet industry standards and customer expectations. Logistics play a pivotal role in the distribution of products. A well-structured logistics strategy should encompass warehousing solutions that can handle the specific requirements of carbon thermoplastic products, including temperature and humidity controls if necessary. Efficient inventory management systems are essential for tracking stock levels and ensuring that production schedules align with customer demand. Transportation logistics also need careful planning. Partnering with reliable freight carriers can optimize delivery times and costs, ensuring that products reach customers promptly. It’s advisable to consider a multi-modal transportation approach that can leverage different transport methods, such as road, rail, and air, depending on cost-effectiveness and delivery urgency. Lastly, as sustainability becomes increasingly important in manufacturing, integrating eco-friendly practices into operations can enhance the business's appeal. This can involve implementing recycling programs for scrap materials, reducing waste during production, and optimizing energy use in manufacturing processes. Additionally, transparency in sourcing and production can resonate well with environmentally conscious consumers and clients. In conclusion, establishing a carbon thermoplastic business requires a comprehensive approach to operations and logistics. By focusing on quality materials, efficient manufacturing, strategic logistics planning, and sustainable practices, entrepreneurs can position their businesses for success in this competitive industry.

When embarking on the establishment of a carbon thermoplastic business, effective human resources and management strategies are crucial for fostering a productive work environment and ensuring operational success. This sector, which combines advanced materials science with innovative manufacturing processes, requires a skilled workforce that is adept in both technical and managerial capacities. Talent Acquisition and Development The first step in building a strong team is identifying the necessary skills and expertise. Professionals with backgrounds in materials science, engineering, and manufacturing processes are essential, as they bring the technical knowledge required to innovate and improve product offerings. Additionally, individuals with experience in quality control, supply chain management, and regulatory compliance will be invaluable in maintaining high standards and meeting industry regulations. Once you have identified the roles needed, developing a robust recruitment strategy is key. Utilize industry-specific job boards, networking events, and partnerships with universities to attract top talent. Consider offering internships and co-op programs to cultivate a pipeline of new graduates who can be trained within the company’s specific processes and culture. Training and Continuous Education Given the rapid advancements in materials technology, ongoing education is vital. Implement regular training programs that allow employees to upgrade their skills and stay abreast of the latest developments in carbon thermoplastics. Workshops, certifications, and attendance at industry conferences can enhance their expertise and foster a culture of innovation. Encouraging employees to pursue professional development not only improves their capabilities but also increases job satisfaction and retention. Creating a Positive Workplace Culture A strong organizational culture that values collaboration, innovation, and employee well-being can significantly impact overall performance. Establish clear company values that emphasize sustainability and ethical practices, aligning with the core principles of the carbon thermoplastic industry. Promote open communication and feedback channels to ensure that employees feel valued and heard. Initiatives such as team-building activities, recognition programs, and flexible work arrangements can help build a cohesive and motivated team. Performance Management Implementing an effective performance management system is essential for monitoring productivity and guiding employee development. Set clear performance metrics that align with the company’s goals, and regularly evaluate employee performance against these standards. Constructive feedback should be provided to help employees grow, while high performers should be recognized and rewarded to encourage continued excellence. Navigating Regulatory and Compliance Issues The carbon thermoplastic industry is subject to various regulations regarding safety, environmental impact, and product quality. A dedicated compliance team is essential for ensuring that the business adheres to these requirements. This team should not only monitor compliance but also work closely with other departments to integrate best practices into daily operations. Training sessions on compliance issues can further equip employees to understand and meet regulatory standards. Leadership and Strategic Management Strong leadership is vital to steer the business through the challenges of the competitive carbon thermoplastic market. Leaders should possess a mix of technical knowledge and business acumen, enabling them to make informed strategic decisions. Engage in regular strategic planning sessions to assess market trends and adjust business strategies accordingly. Encourage leaders to foster innovation by supporting research and development initiatives that explore new applications for carbon thermoplastics. By focusing on these human resources and management strategies, your carbon thermoplastic business can build a capable and motivated workforce, driving growth and success in this dynamic industry.

In conclusion, launching a carbon thermoplastic business presents an exciting opportunity to tap into a growing market that values sustainability and innovative materials. By understanding the unique properties of carbon thermoplastics and their applications, conducting thorough market research, and developing a solid business plan, entrepreneurs can position themselves for success in this dynamic industry. It is essential to focus on building strong relationships with suppliers and customers, investing in efficient production processes, and staying ahead of industry trends. With dedication, strategic planning, and a commitment to quality, you can establish a thriving business that not only meets market demands but also contributes to a more sustainable future. As you embark on this journey, remember that adaptability and continuous learning will be key to navigating the challenges and opportunities that lie ahead.

A business plan is a critical tool for businesses and startups for a number of reasons
Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the mark
et.Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
Business plans allow you to position your brand by understanding your company’s role in the marketplace.
Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:Executive Summary
Company Overview
Industry Analysis
Consumer Analysis
Competitor Analysis & Advantages
Marketing Strategies & Plan
Plan of Action
Management Team
The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at info@avvale.co.uk . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

To complete your perfect carbon thermoplastic business plan, fill out the form below and download our carbon thermoplastic business plan template. The template is a word document that can be edited to include information about your carbon thermoplastic business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.