Business planning seems like it would be something that organizations do well, given the near self-evident importance of the concept. Yet, that is not necessarily the case. “In my experience leading dozens of business planning workshops in countries all over the world, of teams I’ve encountered have an effective business planning process,” according to author and business plan expert Tim Berry in Entrepreneur.
Organizations should develop a better understanding of how to approach business planning. The following sections expand on the topic and the four types of planning.
“Planning is about managing resources and priorities in an organized way,” Berry says. “Management is related to leadership, and it’s related to productivity.”
If companies improve how they plan, managing and leadership will also improve. The following steps can help businesses plan better.
- Devise a Plan: Write important details down and focus on strengths, what matters, what people are most important to you and what you can do for them. This will help you communicate your vision to your employees.
- Define Success: How do you see your business in several years? Define long-term goals and be specific. Establish milestones for certain goals and who will achieve the goals. Look at what drives your business; it may be presentations, conversions, page views or something else. Then establish a review schedule and re-examine your long-term goals as necessary.