Planning is outlining the necessary steps you will take to accomplish a given task. It is a list of every activity that you will have to engage in, from the beginning to the end, to accomplish a specific goal or objective.
Planning is powerful. Planning prevents heartache. Planning prevents the planner from making costly mistakes. In fact, proper prior planning prevents poor performance!
People establish businesses without business plan. When the business fails, they will say an enemy swore that they will never succeed in life.
Most business failures are traceable to poor or no planning at all. Most family challenges are traceable to poor or lack of planning. When a man with the monthly income of N50,000 ($140) decides to have eight children, you are looking at a poor planner.
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Many years ago, a magazine conducted a study of fifty startup companies. Half of these companies had spent several months and even more to develop complete business plans before they began operations.
The other half started without detailed business plans and were simply reacting to events as they occured in the day-to-day operations of the business.
Two to three years later, the researchers went back to determine the level of success and profitability of these companies. What they found was quite interesting.
The companies that had started operations with clear, written business plans, carefully thought through and detailed in every respect, were vastly successful and profitable than those companies that had started spontaneously and had made things up as they went.
Planning Saves Time and Money
All successful people work from written plans. Great achievements are products of detailed planning. Every great business was established with great plan. Every great house was built with great plans. Unfortunately, every mediocre business, mediocre house and mediocre endeavors were built without planning.
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In fact, every minute spent in planning saves ten minutes in execution. Every minute that you spend planning and thinking before you begin will save you time, money, and energy in getting the results you desire.
Some people think that planning is wasting time. I am sure you have seen a collapsed building before. In most cases, both the owner and the engineers that built that house were in a hurry to start making use of the building.
To them planning was a waste of time. But the time they thought they saved led to disaster. They will end up paying damages to the families of people that died at the site. In fact, government may take over the land in its entirety.
The number one reason for failure is action without planning. People who say that they are too busy to plan is advance must be prepared for unnecessary mistakes and great losses of time, money, and energy.
So, planning saves time and heartache. Don’t be unnecessarily in a hurry. Sit down and plan your actions steps before you take the first step. When you fail to plan, you are indirectly planning to fail.
Proper Planning Pays
A good plan, thoroughly discussed and evaluated, enables you to identify flaws and errors that could prove fatal to your business or career later. Planning enables you to ask, “what if?” questions. For example, “What are the worst possible things that could happen if you were to take a particular course of action?”
Planning enables you to identify weaknesses in your plan and make provision to compensate for those weaknesses.
What is the easiest way to plan? To be continued in part 2.
Meanwhile, if you truly want to become a smart planner, order my books Twelve Pillars of Financial Success and Road to Success. Also order my teachings on planning. Just click this link bit.ly/322fxVj or call 07032681154.
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