7 Reasons Better Planning Yields the Best Results
by
Ken Besser on Jul. 10, 2017
Summary: All businesses have the same lifecycles, but better planned ones almost always yield the best results
All businesses have the same common lifecycle. You start your own business or buy your own business; hopefully, well. Then you run your own business; hopefully, profitably. Then you grow your business; hopefully, exponentially. Then, eventually, you sell your business (unless you kill it); hopefully, at a great time for a great price.
But not all businesses start off and end up their lifecycles the same. They run the gamut from bad to good to the best. And what makes the most difference between whether you and your company are bad, good, or great is not in your execution; it's in your planning that you rule the day instead of rue it.
Better execution can almost never overcome a bad plan. Better planning, however, can almost always overcome bad execution.
Here are 7 reasons why better business planning yields the best results:
But not all businesses start off and end up their lifecycles the same. They run the gamut from bad to good to the best. And what makes the most difference between whether you and your company are bad, good, or great is not in your execution; it's in your planning that you rule the day instead of rue it.
Better execution can almost never overcome a bad plan. Better planning, however, can almost always overcome bad execution.
Here are 7 reasons why better business planning yields the best results:
- Better business plans begin with the desired objective (the DO) end in mind.
- Better business plans work step-by-step back from what the business is supposed to DO to what the business is presently doing.
- Better business plans are process oriented using policies, procedures, and work instructions for every step in the value chain.
- Better business plans leverage their stakeholders' lives' precious resources of self, time, effort, energy, emotion, intellect, property, and people.
- Better business plans focus on doing the right thing instead of the best thing.
- Better business plans put values, visions, and missions in that correct order.
- Better business plans cover each business's entire lifecycle.