In recent years, the global focus on sustainable agriculture and food security has intensified, leading to a surge in interest in plant phenotyping. This scientific discipline, which involves the measurement of observable plant traits to understand their genetic and environmental interactions, has become pivotal in breeding programs and crop improvement efforts. As advancements in technology and data analysis continue to evolve, the demand for precise and efficient phenotyping methods is on the rise. For entrepreneurs looking to tap into this burgeoning field, launching a plant phenotyping business presents a unique opportunity to contribute to agricultural innovation while addressing critical challenges facing the industry. This article will guide aspiring business owners through the essential steps to establish a successful plant phenotyping venture, from understanding the market landscape to leveraging cutting-edge technologies and building strong partnerships. Whether you’re a scientist with a passion for agriculture or a business-minded individual eager to make an impact, this guide will equip you with the knowledge and insights needed to thrive in this dynamic sector.

The global market for plant phenotyping is witnessing significant growth, driven by advancements in agricultural technologies and an increasing demand for sustainable farming practices. As of the latest estimates, the plant phenotyping market is valued in the billions of dollars, with projections indicating a compound annual growth rate (CAGR) of over 10% in the coming years. This growth is fueled by the rising need for high-throughput phenotyping solutions that can enhance crop yield, improve resistance to pests and diseases, and facilitate the development of new plant varieties. Several factors contribute to the expansion of this market. Firstly, the global population is projected to reach nearly 10 billion by 2050, necessitating a substantial increase in food production. To meet these demands, agricultural researchers and companies are increasingly adopting innovative phenotyping technologies, such as imaging systems, sensors, and data analytics, to optimize plant breeding and cultivation processes. Moreover, the integration of artificial intelligence and machine learning in plant phenotyping techniques is further propelling this market. These technologies enable more accurate and efficient data collection and analysis, allowing researchers to make informed decisions faster than traditional methods. As a result, the market is attracting investments from both public and private sectors, leading to the development of new products and solutions tailored to the needs of modern agriculture. Geographically, North America and Europe are currently leading the market, thanks to well-established agricultural research institutions and a strong emphasis on technological advancements. However, regions such as Asia-Pacific are rapidly emerging as significant players, driven by increasing agricultural investments and the necessity to enhance food security in densely populated countries. As the awareness of sustainable agricultural practices grows, the plant phenotyping market is poised for further expansion. Entrepreneurs looking to start a plant phenotyping business can tap into this burgeoning sector by focusing on innovative technologies, collaboration with agricultural research institutions, and addressing the specific needs of farmers and growers. By leveraging the latest advancements and understanding market dynamics, new businesses can position themselves for success in this promising field.

Identifying the target market is crucial for the success of a plant phenotyping business. This market consists of various sectors that rely on plant research and development to improve crop yield, enhance plant traits, and innovate agricultural practices.
1. Agriculture and Farming Industries: The primary target market includes commercial farmers and agricultural producers who seek to optimize crop performance and resilience. These stakeholders are interested in phenotyping services that enable them to understand plant traits better and make data-driven decisions for crop management.
2. Research Institutions and Universities: Academic and research institutions that focus on agricultural sciences, botany, and genetics represent a significant segment. These organizations often conduct extensive research on plant traits and require advanced phenotyping tools and services to support their studies.
3. Biotechnology and Seed Companies: Companies involved in the development of genetically modified organisms (GMOs) or hybrid seeds are key players in the phenotyping market. They require precise phenotypic data to evaluate and improve their plant varieties’ performance and traits.
4. Government Agencies and NGOs: Various government bodies and non-governmental organizations engaged in agricultural development and food security programs are potential clients. These organizations may seek phenotyping services to support their initiatives in promoting sustainable agriculture and enhancing crop resilience to climate change.
5. Agri-Tech Startups: The rising trend of agricultural technology startups focusing on precision farming and data analytics also represents a growing market. These companies are often on the lookout for innovative phenotyping solutions to integrate into their platforms and services.
6. Environmental and Sustainability Organizations: Entities focused on environmental conservation and sustainable agricultural practices may also be interested in phenotyping services. They aim to study plant responses to different environmental conditions, contributing to research on climate adaptation and sustainability. By understanding and targeting these segments effectively, a plant phenotyping business can position itself as a valuable partner in advancing agricultural research and practice, ultimately leading to profitable opportunities and long-term growth.

When considering the establishment of a plant phenotyping business, it’s essential to explore various business models that can effectively capture value in this emerging field. The choice of business model will largely depend on the target market, the technology employed, and the specific services offered. Here are some viable business models to consider:
1. Service-Based Model: This model focuses on offering phenotyping services to clients, such as research institutions, universities, and agricultural companies. By providing detailed analysis of plant traits using advanced imaging technologies and data analytics, businesses can charge fees for each project or service rendered. This could include high-throughput phenotyping, trait mapping, or data interpretation services. Building relationships with clients for long-term contracts can enhance revenue stability.
2. Subscription Model: This model involves offering ongoing access to phenotyping services or data analysis tools through a subscription fee. Clients, such as breeding companies or agricultural researchers, would pay a recurring fee for access to a suite of tools or databases that aid in the analysis of plant traits over time. This model promotes customer loyalty and provides predictable revenue streams.
3. Equipment Sales and Leasing: Another approach is to develop or distribute phenotyping equipment and software solutions. This can include selling or leasing specialized imaging systems, sensors, and software for data analysis. By providing training and support, businesses can create additional value and foster long-term customer relationships. This model may require significant upfront investment in research and development.
4. Partnership and Collaboration: Forming partnerships with academic institutions, agricultural firms, and technology providers can create synergistic opportunities. A business can collaborate on research projects, share resources, and co-develop new phenotyping technologies or applications. This model can reduce risks and costs while enhancing innovation and market reach.
5. Data Monetization: As phenotyping generates vast amounts of data, another lucrative model involves collecting and analyzing these data sets to provide insights that can be sold to third parties. This could include market trends, genetic insights, and predictive analytics that are valuable to agribusinesses, seed companies, and research organizations.
6. Consultative Services: By leveraging expertise in phenotyping and plant sciences, a business can offer consultative services to help clients design and implement their own phenotyping projects. This could involve advising on experimental design, data collection methodologies, and analysis techniques, allowing businesses to charge fees based on project scope and complexity.
7. Educational and Training Programs: As the demand for knowledge in plant phenotyping grows, offering workshops, training sessions, and certification programs can be an additional revenue stream. This model not only generates income but also positions the business as a thought leader in the industry, enhancing its reputation and reach. Choosing the right business model will depend on factors such as market demand, technological capabilities, and the entrepreneur's vision. It's crucial to conduct thorough market research and consider the unique needs of potential customers to develop a sustainable and profitable plant phenotyping business.

The competitive landscape for a plant phenotyping business is characterized by a diverse array of players, ranging from established agricultural biotechnology firms to innovative startups specializing in precision agriculture technologies. It is essential to understand the key competitors, market dynamics, and emerging trends that shape this industry. Key Competitors: Established companies such as Bayer, Syngenta, and BASF are significant players in the agricultural biotechnology sector, leveraging their extensive resources and research capabilities to develop sophisticated plant phenotyping solutions. These firms often have comprehensive product lines that include not only phenotyping technologies but also related services such as crop management and data analytics. On the other hand, startups like PhenoFarm, PlantVision, and others focus on niche markets, offering specialized tools and services tailored for specific crops or phenotyping methods, such as imaging technologies, sensors, and software solutions. Market Segmentation: The plant phenotyping market can be segmented into various categories based on technology, application, and geography. Technologies include high-throughput phenotyping platforms, imaging systems (such as RGB, multispectral, and hyperspectral imaging), and phenomics data management software. Applications range from research and development in academic and government institutions to commercial agriculture, which is increasingly adopting phenotyping technologies for crop improvement and yield optimization. Geographically, North America and Europe are currently leading the market due to advanced research capabilities and strong agricultural sectors, while Asia-Pacific is emerging rapidly due to growing investments in agritech and increasing agricultural productivity needs. Emerging Trends: The competitive landscape is also influenced by trends such as the integration of artificial intelligence and machine learning in data analysis, which enhances the accuracy and efficiency of phenotyping processes. Moreover, the rise of precision agriculture and a growing focus on sustainability are pushing companies to innovate and develop more effective phenotyping solutions. Collaborations between tech firms, research institutions, and agricultural companies are becoming more common, leading to the development of cutting-edge technologies that can compete effectively in the market. Barriers to Entry: New entrants in the plant phenotyping business may face several barriers, including high capital requirements for technology development and acquisition, the need for specialized expertise, and the necessity of establishing credibility within the agricultural community. Additionally, regulatory hurdles and the challenge of achieving scale can complicate entry for startups. As the demand for efficient and sustainable agricultural practices continues to rise, understanding the competitive landscape in plant phenotyping will be crucial for any entrepreneur looking to establish a foothold in this growing market. By identifying key competitors, leveraging emerging technologies, and navigating market dynamics, new businesses can position themselves effectively to capture opportunities in the evolving agricultural landscape.

Starting a plant phenotyping business involves navigating a complex landscape of legal and regulatory requirements. These requirements can vary significantly based on the geographic location of the business, the specific services offered, and the type of plants involved. Here are some critical considerations to keep in mind:
1. Business Structure and Registration: Choose a legal structure for your business, such as a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has different implications for liability, taxation, and regulatory compliance. After deciding on a structure, you will need to register your business with the appropriate state and local authorities, which may include obtaining a business license and a tax identification number.
2. Environmental Regulations: Given that plant phenotyping often involves working with live plants and possibly genetically modified organisms (GMOs), it is essential to be aware of environmental regulations. This may include adhering to guidelines set by the Environmental Protection Agency (EPA) or the equivalent regulatory body in your country. You might also need to comply with regulations regarding waste disposal, pesticide use, and the handling of biological materials.
3. Permits and Licenses: Depending on the nature of your phenotyping activities, you may require specific permits and licenses. This could include permits for field trials, greenhouse operations, or the use of drones or other technology in agricultural settings. Check with local agricultural departments or environmental agencies to ensure that you obtain all necessary permits.
4. Intellectual Property: If your business involves the development of proprietary technologies or methodologies for plant phenotyping, consider protecting your intellectual property (IP). This may involve filing for patents, trademarks, or copyrights, depending on the nature of your innovations. Consulting with an IP attorney can help you navigate this process effectively.
5. Data Protection and Privacy: If your business collects, stores, or analyzes data from plant phenotyping activities, you must comply with data protection laws. This is particularly important if you are handling sensitive information related to agricultural practices or proprietary breeding programs. Familiarize yourself with regulations such as the General Data Protection Regulation (GDPR) in Europe or the California Consumer Privacy Act (CCPA) in the United States.
6. Health and Safety Regulations: Ensure that your business complies with occupational health and safety regulations, particularly if you have employees working in potentially hazardous environments such as laboratories or field sites. This includes providing appropriate training, safety equipment, and adhering to guidelines set by bodies such as the Occupational Safety and Health Administration (OSHA) in the U.S.
7. Funding and Grants: If you plan to seek funding or grants for your plant phenotyping business, be aware of any conditions or requirements associated with those funds. Government grants may have specific compliance requirements related to research, environmental impact, and reporting.
8. Industry Standards and Certifications: Consider obtaining industry certifications that may enhance your credibility and marketability. Certifications from recognized bodies can demonstrate compliance with best practices in phenotyping and may be a requirement for certain contracts or partnerships. Understanding and complying with these legal and regulatory requirements is crucial for the successful establishment and operation of a plant phenotyping business. It is advisable to consult with legal professionals, regulatory experts, and industry associations to ensure that you are fully informed and compliant with all applicable laws and regulations.

When embarking on a plant phenotyping business, securing appropriate financing is crucial to cover initial costs such as equipment, facilities, and operational expenses. Several financing options are available for entrepreneurs in this field:
1. Personal Savings: Many entrepreneurs start by investing their own savings. This option provides full control over the business without the need to repay loans or share profits with investors. However, it also carries a high personal financial risk.
2. Bootstrapping: Similar to personal savings, bootstrapping involves using the revenue generated from early sales to fund growth. This method allows for gradual scaling and helps maintain full ownership but may limit initial growth due to constrained resources.
3. Bank Loans: Traditional bank loans can provide substantial capital for starting a plant phenotyping business. These loans typically require a solid business plan, collateral, and good credit history. While they offer lower interest rates, repayment schedules can be taxing for a new business.
4. Government Grants and Subsidies: Various government programs offer grants and subsidies to support agricultural innovation and research. These funds can be particularly beneficial as they often do not require repayment. Entrepreneurs should research local, state, and federal opportunities that align with agricultural technology.
5. Venture Capital: For businesses with high growth potential, attracting venture capital may be a viable option. Venture capitalists invest in exchange for equity, providing not only funds but also expertise and connections. However, this route often requires giving up a portion of ownership and may involve pressure for rapid growth.
6. Angel Investors: Similar to venture capitalists, angel investors are individuals who provide capital in exchange for equity or convertible debt. They are often more willing to invest in early-stage startups and can offer valuable mentorship and networking opportunities.
7. Crowdfunding: Platforms like Kickstarter and Indiegogo allow entrepreneurs to raise small amounts of money from a large number of people. This approach can also serve as a marketing tool, building a customer base before the business officially launches. However, it requires a compelling campaign to attract backers.
8. Partnerships and Collaborations: Forming partnerships with established companies or research institutions can provide access to funding and resources. These collaborations can also enhance credibility and expand market reach, allowing for shared investment in technology and infrastructure.
9. Incubators and Accelerators: Joining an incubator or accelerator program can provide funding, mentorship, and access to a network of investors. These programs often focus on specific industries, including agricultural technology, and can help startups refine their business models and go-to-market strategies. By exploring these financing options, entrepreneurs can find the best fit for their plant phenotyping business, ensuring they have the necessary resources to launch and grow successfully. It's essential to carefully evaluate each option, considering factors like repayment terms, equity dilution, and the overall impact on business operations.

When launching a plant phenotyping business, developing effective marketing and sales strategies is crucial for attracting customers and establishing a strong presence in the market. Here are several strategies to consider:
1. Identify Target Markets: Begin by identifying your target markets, which may include academic institutions, agricultural companies, research organizations, and government agencies. Understanding the specific needs and challenges of these segments can help tailor your marketing efforts.
2. Leverage Digital Marketing: Utilize digital marketing strategies to reach a wider audience. Create an informative website that showcases your services, technology, and case studies. Implement search engine optimization (SEO) techniques to enhance visibility in search engine results. Additionally, use social media platforms like LinkedIn, Twitter, and Facebook to engage with potential clients and share industry insights.
3. Content Marketing: Establish your business as a thought leader in plant phenotyping by producing high-quality content. This can include blog posts, white papers, webinars, and videos that discuss the latest trends, technologies, and methodologies in phenotyping. Educational content can attract a following and build trust with potential customers.
4. Networking and Partnerships: Attend industry conferences, trade shows, and workshops to connect with key players in the agricultural and research sectors. Building relationships with universities, agricultural cooperatives, and biotech firms can lead to potential partnerships and collaborations. Consider forming strategic alliances with organizations that complement your services, such as data analytics firms or software developers.
5. Direct Sales Outreach: Develop a targeted sales strategy that includes direct outreach to potential clients. Create a list of key decision-makers in your target industries and reach out through personalized emails and phone calls. Highlight how your phenotyping services can address their specific needs and improve their research or production outcomes.
6. Offer Demonstrations and Trials: Provide potential clients with the opportunity to see your technology in action. Offering free trials, demonstrations, or pilot projects can help showcase the effectiveness of your phenotyping services and build confidence in your offerings.
7. Customer Relationship Management: Implement a robust customer relationship management (CRM) system to track leads, manage customer interactions, and analyze sales data. This will help in understanding customer preferences and improving follow-ups, ultimately enhancing customer satisfaction and retention.
8. Feedback and Adaptation: Regularly seek feedback from clients to understand their experiences and areas for improvement. Use this information to adapt your services and marketing strategies over time, ensuring that you remain responsive to market demands and customer needs.
9. Highlight Success Stories: Use case studies and testimonials from satisfied clients to demonstrate the value of your services. Showcasing successful projects can help build credibility and attract new customers who are looking for proven results. By implementing these marketing and sales strategies, you can effectively position your plant phenotyping business for success, ensuring that you attract and retain clients in a competitive landscape.

In establishing a plant phenotyping business, efficient operations and logistics are critical to ensure the smooth functioning of the enterprise and to deliver accurate, high-quality data to clients. This section outlines key considerations for optimizing operations and logistics. Infrastructure and Equipment: The first step in operations involves setting up the necessary infrastructure. This includes selecting a suitable location that can accommodate both laboratory and field operations. Facilities should be equipped with controlled environment chambers, growth rooms, and field plots, depending on the phenotyping methods employed. Additionally, investing in advanced imaging equipment, such as high-throughput phenotyping platforms, drones, and data collection tools, is essential to capture plant traits effectively. Supply Chain Management: Establishing a robust supply chain is vital for sourcing seeds, soil, nutrients, and other materials required for plant growth and experimentation. Building relationships with reliable suppliers ensures that you can maintain consistent quality and availability of materials. It’s also important to consider logistics for the transportation of samples and equipment, particularly if field trials are conducted at multiple locations. Data Management Systems: Effective data collection and analysis are at the heart of a phenotyping business. Implementing a comprehensive data management system allows for the organization, storage, and processing of large datasets generated from phenotypic studies. Consider utilizing cloud-based solutions that facilitate collaboration and ensure data security. Integrating software for data analysis, such as statistical tools and machine learning algorithms, can enhance the interpretation of phenotypic data and provide valuable insights to clients. Field Operations Coordination: Managing field operations requires meticulous planning and coordination. This includes scheduling planting and harvesting times, ensuring optimal conditions for data collection, and training staff on proper phenotyping techniques. It’s crucial to develop standard operating procedures (SOPs) for all field activities to maintain consistency and reliability in data collection. Quality Control: Implementing a quality control system is essential to uphold the integrity of the phenotyping process. Regular calibration of equipment, adherence to protocols, and routine checks on data accuracy will help minimize errors. Establishing a feedback loop for continuous improvement based on client input and internal assessments can enhance service delivery. Staffing and Training: A skilled workforce is vital for the success of a plant phenotyping business. Hire personnel with expertise in plant sciences, data analytics, and technology. Providing ongoing training on the latest phenotyping techniques, equipment operation, and data analysis methods will ensure that your team remains competent and innovative. Client Communication and Service Delivery: Lastly, maintaining clear communication with clients throughout the research process is crucial. Establish regular updates and reports that inform clients of progress and preliminary findings. Providing exceptional customer service, coupled with timely and accurate data delivery, will foster long-term relationships and encourage repeat business. By focusing on these operational and logistical elements, a plant phenotyping business can position itself for success, delivering high-quality phenotypic data and insights that meet the evolving needs of its clients in agricultural research and development.

Establishing a successful plant phenotyping business requires a robust human resources strategy that aligns with the unique demands of the agricultural and biotechnology sectors. The right team is essential not only for operational efficiency but also for fostering innovation and maintaining a competitive edge in a rapidly evolving market. Recruitment and Skill Development When starting a plant phenotyping business, it’s crucial to identify the key roles needed. These typically include plant scientists, data analysts, engineers, and field technicians. Recruiting individuals with a strong background in plant biology, genetics, and advanced imaging technologies is essential. Additionally, personnel skilled in data management and analysis will be vital, as phenotyping generates vast amounts of data that need to be interpreted effectively. Investing in training programs is equally important. The field of phenotyping is dynamic, with new technologies and methodologies emerging regularly. Ongoing professional development through workshops, conferences, and online courses can help keep the team updated on the latest advancements. Encouraging collaboration among team members from different disciplines can also foster a culture of continuous learning and innovation. Culture and Collaboration Creating a positive workplace culture is critical for attracting and retaining talent. A collaborative environment that values input from all team members can lead to more innovative solutions and a stronger commitment to the company's goals. Implementing regular team-building activities, encouraging open communication, and recognizing individual contributions can enhance morale and productivity. Furthermore, establishing partnerships with universities and research institutions can provide access to emerging talent and cutting-edge research, which can be beneficial for both recruitment and collaborative projects. Engaging with the academic community can also facilitate internships and cooperative education programs, allowing students to gain practical experience while providing fresh perspectives to your business. Performance Management and Incentives A well-defined performance management system is essential for aligning individual goals with the company’s objectives. Setting clear, measurable goals and conducting regular performance reviews can help ensure that employees are progressing and contributing effectively to the business. Providing constructive feedback and creating development plans can motivate employees to improve their skills and performance. Incentives are also a powerful tool for enhancing employee engagement. Consider implementing performance-based bonuses, profit-sharing plans, or stock options to reward exceptional contributions. Additionally, offering flexible work arrangements and benefits can help attract top talent, particularly in an industry where work-life balance is increasingly valued. Compliance and Ethical Considerations Finally, as the plant phenotyping business involves working with genetic materials and potentially sensitive data, it’s crucial to ensure compliance with relevant regulations and ethical standards. This includes understanding the legal implications of genetic research, data protection laws, and environmental regulations. Establishing a dedicated compliance team or appointing a compliance officer can help navigate these complexities and foster a culture of integrity and responsibility within the organization. By focusing on strategic human resources management, a plant phenotyping business can build a strong team that drives innovation, enhances productivity, and positions the company for long-term success in the competitive agricultural biotechnology landscape.

In summary, embarking on a plant phenotyping business presents a unique opportunity to contribute to agricultural innovation and sustainability. By understanding the critical aspects of the industry, including the latest technologies, market demands, and regulatory considerations, aspiring entrepreneurs can position themselves for success. Building a strong network of collaborators, from researchers to farmers, will enhance your offerings and ensure relevance in a rapidly evolving field. With a strategic approach, dedication to quality, and an eye on emerging trends, you can establish a thriving venture that not only meets the needs of the agricultural sector but also supports the advancement of plant science for a more sustainable future. Embrace the challenges and opportunities that lie ahead, and you’ll be well on your way to making a significant impact in this vital area of research and development.

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 plant phenotyping business plan, fill out the form below and download our plant phenotyping business plan template. The template is a word document that can be edited to include information about your plant phenotyping 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.