It’s the beginning of 2014 Annual Planning season, and from my work with growth companies around the country it’s clear to me that most lack clarity on how best to plan. Their confusion results in one of several predictable situations. Do one or more of these scenarios sound familiar to you?
- Companies that believe planning is a waste of time, and they go into each new year without a plan.
- Companies that spend all of their planning time preparing budgets, and believe a budget is all they need to do to plan the next year.
- Companies that include either too few or too many people in their planning process.
- Companies that become bogged down in disagreements and misalignment.
- Companies that spend too much time on their plans, and eventually have to abandon the planning efforts or settle for sub-optimal targets.
- Companies that don’t know how to find or talk about the highest priority topics for the next year.
- Companies that don’t have a clearly defined planning process, so they end up with a plan that doesn’t address the most critical changes they need to make.
- Companies that plan, but fail to roll out the plan to their full teams, so only a handful of people are aware of the company’s annual goals
In the weeks ahead, I’ll be addressing each of these issues as they relate to the following powerful 8 questions that will clarify your planning process and set you up for a great plan and a great next year.
- Why should we do an annual plan?
- Who do we include in our annual planning?
- What key topics should we talk about and include in our annual plan?
- What process should we use to develop an annual plan?
- What do we do when we can’t agree on our annual plan priorities?
- Where should we do our annual planning?
- How long should annual planning take?
- How do we get everyone on the same page with the plan once it’s created?
Do you have answers already for these questions for the upcoming planning season? If not, you may not be ready.
To partner with Business Improvement LLC to build a company that will sell for top dollar, visit Business Improvement or call 1.215.830.1222 to speak directly with Doug Diamond.