Small business entrepreneurs are familiar with start-up planning, exit strategy planning, and strategic planning. And entrepreneurs who excel at planning often find themselves victims of their planning process. As planning pays off and business grows, many entrepreneurs ditch the planning process that starts their business growth.
The Business Planning Dilemma
Absent an ongoing, active planning process, it’s easy to become disorganized and unfocused. Distractions, interruptions, and unplanned requests of others create competing priorities for your time. Sadly, this misaligned approach leaves the most critical business growth activities unfinished.
Your business gets stuck in neutral while precious time is spent on lesser-valued activities. Even though you’re getting things done, you want to ensure you’re doing the right things to ensure your small business growth. Are you ready to shift gears?
The Importance of Planning
To succeed in an “interruption economy,” an active, ongoing planning process is essential for small businesses. Active ongoing planning is the kind that allows you to focus on the critical activities that move your business forward.
An ongoing planning process is known to save time, reduce stress, incite happiness, and spark greater satisfaction. Plus, you’ll worry less about having time to address critical business growth initiatives.
Spoiler alert! Discipline and leadership are required to implement!
Frequency of Planning
An active, ongoing planning process consists of five (5) phases:
- Annual Strategic Planning
- Quarterly Planning
- Monthly Planning
- Weekly Planning
- Daily Planning
Planning is the most important activity for your enterprise. It keeps your focus razor-sharp. Plus, it helps to use your time wisely to complete the initiatives that move your business forward.
In the constantly changing world of entrepreneurship, failing to plan effectively is a common mistake that can hinder growth. However, despite the challenges, planning remains a crucial aspect of running a successful organization. A consistent and ongoing planning process can be the guiding light that helps navigate your business through a constantly shifting economy, allowing it to reach its goals and succeed.
Embrace the power of planning, and watch your business flourish in the ever-changing entrepreneurial landscape.
