A Plan for 2016?? … Or a waste of Time… ?
[what we can learn from Unilever, Google….]
Many business owners feel planning is a waste of time. Especially in uncertain times like this. How can you predict or anticipate where the Ringgit will be next year? How can you plan when there is so much uncertainty?
Yet, we all know successful companies like Unilever, Samsung, Google, Toyota, etc, always do their business plan or annual plan. Always. Without fail. They know the plan will change or be updated as they go along, but they never neglect it. And they start their planning process early too, way before the end of their financial year. Why is that?
Five Important Reasons Why Planning is Critical for Business Success
1. Planning gives clarity
The value of planning is not so much the plan itself but the process of going through the planning. Planning forces us to think through things, to evaluate and consider different elements of business.
2. Planning gets the Company Prepared
By thinking through each aspect of our business we are getting every department prepared and ready for implementation. Whether it’s the launch or introduction of a new product or building up inventory for a peak period or promotion.
3. Planning helps us anticipate
Through the process of planning we are able to foresee and anticipate any potential challenges, hurdles or obstacles in the way of achieving our plan. This helps keep us one step ahead.
4. Planning helps us more faster
As a result of all the above – greater clarity, problem-anticipation, and preparedness, we are able to move faster, to execute better.
5. Planning saves time.
The net effect is – planning is Not a waste of time. In fact, it actually saves us time and allows us to more faster with greater clarity.
So, make sure you get your 2016 plan done!
If you haven’t got your 2016 plan done yet, why not join us for Profit Plan 2016? Click here for details.