Plan, Monitor, Repeat continued...

Last week I told you a story about my failure to plan for, of all things, my vacation - gasp!!!  I pointed out that "everyone" plans their vacations, but a vast majority of business owners don't plan for their own businesses' future.  Here are 7 simple rules for successful planning in business that will give you a distinct advantage:
1.    Set clear specific goals.  Keep them simple, measurable and time bound.  You don’t need or want too many goals and you shouldn’t make them unobtainable.  Make them a stretch, but realistic and keep the number of goals to those you can realistically work on.
2.    Define the detailed tasks that will be required to accomplish your goals.  Now that you have set your goals, what are the things you are going to do that will make them a reality.  How much will it cost? Who will do them? What effect do you expect them to have toward achieving your goals?
3.    Develop a task timeline. Develop a simple annual calendar that lists when you will complete each task that you have identified.  Be sure to include the cost, so you can plan for the expenditure in addition to the time it will take.  Try to get at least the high level tasks on a one page calendar, so you can review the upcoming year at a glance.
4.    Set up a system to measure the results of your efforts.  Are the tasks having the desired affect on your goals?  Remember, your goals are measurable and time bound.  So measure them! 
5.    Constantly review your progress towards your goals. If you are making progress toward your goals, understand what is causing it.  If you aren’t making progress, understand that as well.  
6.    Adjust your activities as necessary to ensure you achieve your goals.  You’ve gone to all this trouble, now do something with the information.  Are your tasks having the desired results?  Do you need to shift resources away from what’s not working towards what is?  Do you need to come up with new ideas?  Have things changed so much that you need to rethink your original goals?
7.    Repeat!  Remember, nothing is ever perfect. 

Taking a systematic approach to planning, goal setting, measuring and monitoring your progress will greatly enhance your chances of success in today’s competitive environment.  You have to remain flexible and responsive to what is going on, if you expect to succeed.  And at the end of the day, that’s one of the reasons we’re in business, isn’t it?