Identify the right information

Let’s go back to our sailboat captain, the one who knew how to plan, to find a useful analogy for identifying the right information for a business planning process. Our captain knew that before he took to the seas he should collect information about tides, weather, sea lanes, and crew availability. Only when he had all this interrelated information could he properly set his destination and the strategies to get there. And he used a robust planning process that allowed him to make effective changes to his plans when the conditions changed.

For any business, there likewise are types of information that owners should collect in order to set the right strategies and goals. And the process of collecting this information, and then constructing these strategies and goals, will increase the probability of creating a successful business, as long as you do it on a regular basis.

We’re going to show you two ways to conduct your planning process. One is the traditional approach and one is a more regular, frequent, and less time-consuming way that allows for quick changes and high flexibility. We think that both approaches are useful to you.