Points to Remember

- The process of planning is more important than merely making a plan.

- Planning should be a regular on-going process—not a once-a-year exercise.

- The process of planning is conceptually simple:

- Identify the information required for your plan.

- Engage everyone in information collection.

- Create successful strategies.

- Constantly create new strategies in light of new information.

- Do this frequently.

- Constantly monitor business conditions to detect changes in:

- Market and industry trends.

- Company strengths and weaknesses.

- The competitive environment.

- Opportunities.

- Constantly coach the team on how to collect and analyze useful information and to formulate strategies and goals.

- Don’t be afraid to experiment with new ideas and strategies.

- Actively manage the activity and the costs.

- Understand the risks and rewards.

- Start doing it now!