Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/a26f9f83/public_html/articles/includes/config.php on line 159
Why Create an Annual Plan? > NetSparsh - Viral Content you Love & Share

Why Create an Annual Plan?

Can you imagine going on a road trip without knowing your destination? Or, building your house without plans? The same can be said about running your business without a plan.

They say that "If you don't know where you are going, any road will do." But if you don't know where you are going how do you know when you get there? Or if the road you are on is the right road or the scenic, roundabout route?

Planning is essential if you have somewhere to go. If you want to grow your business, if you want to have more free time, if you want to introduce a new product, if you want to enter a new market.

You don't need to plan if you have reached your destination, if your business is all you hoped it would be. BUT ? have you considered that the world is changing pretty rapidly these days. Even if you are happy with what you have, your environment is changing, which, if you like it or not, is going to change your business. Therefore, we come back again to the need to plan.

What planning is NOT:

  • It is NOT that 120 page document you created when you tried to get funding to start your business. That document was essential to start your business and it might be useful every 5 or so years if you change your business focus but it does not work for an annual plan.
  • It is NOT a document that is placed on a bottom shelf and looked at once a quarter or once a year.
  • It is NOT a to do list
  • It is NOT a wish list
  • What is annual planning?

  • Annual planning is about creating a vision for the next 3-5 years and then formulating concrete plans to achieve that vision. It is about deciding on a future and how you intend to obtain that future, one year at a time.
  • It is about creating measurable goals that can be tracked.
  • It is about tracking those goals on a weekly and monthly basis so that they are actually achieved at the end of the year. Goals can only be tracked if they are measurable.
  • Annual planning is about understanding what is working and not working and using that to set further action plans.
  • Annual planning should also be able to able to monitor the performance and effectiveness of your staff over the year.
  • A well structured plan will also have the ability to be used as an effective monthly reporting tool by managers. It becomes the common language.

    Planning is not only for whole businesses but also for business teams, divisions, projects and even individuals.

    Planning brings about focus and clarity of what is to be achieved. Equally when done effectively, planning brings about alignment between team members and people become accountable for completion of their goals.

    Planning brings about business success and bottom line results.

    GRAEME NICHOL, President, Arcturus Advisors.

    http://www.arcturusadvisors.com/

    Graeme Nichol has worked on 4 continents and in 117 unique businesses gaining experience in manufacturing, transportation, agriculture, communications, banking, direct marketing, consumer goods and retail amongst others. He has significant management experience and consulting experience, including Business strategy, project management, change management, big six consulting, team productivity, business productivity and quality improvement, ERP implementations.

    Arcturus Advisors works with businesses and teams that are struggling to formulate a strategic plan that delivers bottom line results. Using tried and tested planning systems that have achieved results internationally for 20 years we ensure that you transform your business through focus, alignment and accountability.

    In The News:

    This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

    WCRP's New Strategic Plan for Climate Research Highlights the Importance of HPC
    HPCwire
    As climate modeling increasingly leverages exascale computing and researchers warn of an impending computing gap in climate research, the World Climate Research Programme (WCRP) is developing its new Strategic Plan – and high-performance ...


    Automotive Buy Sell Report (blog)

    Prepare for the future with strategic planning
    Automotive Buy Sell Report (blog)
    The one thing with change is that it is constant. Knowing this, are you prepared for the future and what change is going to occur? A rhetorical question, but one that begs us to consider the importance of strategic planning, as it can prepare you for ...


    Starkville Daily News

    SOCSD Board OKs strategic plan
    Starkville Daily News
    Starkville-Oktibbeha Consolidated School District Board of Trustees members Debra Prince, left, and Sumner Davis work during the school board meeting Tuesday night. The board approved the district's new five-year strategic plan. (Photo by Charlie ...


    Communique

    UCCS kicks off 2030 strategic planning process
    Communique
    UCCS will utilize the experience and services of JERA Partnerships in facilitating and developing the 2030 strategic plan in collaboration with the many university stakeholders. Diane Zile, JERA CEO and founder, and her team engaged the Chancellor's ...


    EastCountyToday (press release) (blog)

    Thursday: East Contra Costa Fire to Host Strategic Planning Session
    EastCountyToday (press release) (blog)
    After a hosting a series of Town Hall Meetings, the East Contra Costa Fire Protection District will host a strategic planning session on Thursday, July 9 from 6:00 pm to 8:00 pm. While the Town Halls focused on education to residents about the District ...

    and more »

    Forbes

    The Impact Of Talent On Strategic Planning
    Forbes
    Is your organization planning its current and future talent needs with the same level of energy devoted to its strategic plan? Your human capital plan must fit hand-in-glove with your strategic plan. A disciplined approach to your talent planning is a ...


    Chattanooga Times Free Press

    Chattanooga developing strategic plan for public art [photos]
    Chattanooga Times Free Press
    This week Chattanooga's public art program is launching its first phase of community engagement to develop a strategic plan that will guide the future of public art in the city. With the input from community organizations and individuals, the plan aims ...


    MyAJC

    Strategic planning helping metro Atlanta schools keep teachers
    MyAJC
    Today's afternoon job fair at DeKalb County Schools' Stone Mountain headquarters is targeting special education teachers and nurses. The new human resources chief, Bernice Gregory, said recent strategies targeting specific groups have worked well to ...


    CIO

    How to develop a PMO strategic plan
    CIO
    Strategic-level (PMOs), also known as enterprise project management offices, are essential in developing, maintaining and communicating effective project, program and portfolio practices. Having a solid company-wide strategic plan provides the ...

    and more »

    Forbes

    How To Get Started With The Legacy Planning Process
    Forbes
    Strategic planning aligns your values and goals with your overall investment strategy and wealth plan. Sometimes starting with a simplified picture of your wealth—in other words, understanding what's already in place—can help identify what changes ...

    and more »
    Google News

    Don?t Just Talk About the Weather, Use It to Advantage

    A well known, national chain of restaurants discovered that certain... Read More

    The Power of Planning

    I am surprised how few sales professionals, independent consultants, and... Read More

    Sample Business Plan Outline

    If you are looking for a partner, funding, angle investor... Read More

    19 Questions to Supercharge Your Business Plan

    Whether you are seeking capital for your company or are... Read More

    How to Start A Business Plan

    A business plan precisely defines your business, identifies your goals,... Read More

    Leverage - A Small Step For You /A Big Change For Your Career

    Cassy was an employee of a nonprofit who had been... Read More

    How To Prepare A Business Plan That Guarantees Big Profits

    It is always said "If you Fail to Plan, you... Read More

    Ten Steps To A Great Strategic Plan

    Ask a small business owner about their strategic plan and... Read More

    How to Write a Business Plan Market Analysis

    Writing a business plan is an essential part of the... Read More

    Six Key Areas For Evaluating A Strategic Alliance

    Strategic alliances are increasing at a rapid rate. It is... Read More

    Business Plan 101 How to Write a Table of Contents

    No matter what business you plan to start in your... Read More

    Creating a Vision That Achieves Results

    How important is a vision statement to your company or... Read More

    The Top Five Reasons Strategic Plans Fail

    "Most great plans aren't. They are just nice, high-level ideas."That's... Read More

    Why 9 in 10 Businesses are Overspending on Day-to-day Expenses

    Experts estimate that 90 percent of Australian businesses are overspending... Read More

    The Impact of Price Popularity on Profits

    The goal of almost every business owner is to generate... Read More

    Going Self-Employed ? A Few Handy Hints

    The day you decide to take the plunge and work... Read More

    Break-Even Analysis

    A significant advantage of some business ideas is that the... Read More

    Executive Summary for Business Plans of Franchisees

    Writing a business plan for a franchised outlet of a... Read More

    Business Plan Descriptions of Computer System

    Entrepreneurs often give little if any consideration to their computer... Read More

    10 Critical Facts to Put On the Cover of Your Business Plan...

    In most business plans, no matter how striking the idea,... Read More

    Legal Strategies in Business Plans

    Writing a Business Plan these days is tough, venture capitalists... Read More

    Strategic Planning and Total Quality Management

    No matter what product or service you provide you will... Read More

    Balanced Scorecard Strategy Map

    With the help of balanced scorecard strategy map, it is... Read More

    More Uses for Your Business Plan

    You have invested a lot of time and energy on... Read More

    The Best Entity to Hold Real Estate

    Possibly THE most frequently asked question of me is "What... Read More