Menu
Search
Home My Blog Financial Statements Do You Decide to Plan or Plan to Fail?

Do You Decide to Plan or Plan to Fail?

John Nocera

It’s not a new concept, but it is a lesson that we are reminded of constantly. Those not wanting to sound clichéd change the way they state it, but the overarching message is that if there is no plan, there is no goal to meet, so it’s unlikely that you or your team know if the goal was reached.  But more importantly, the team is not working together in moving towards the goal.

Strategy Management & Improving your Business’ Financial Results

Ask yourself this question:  Is your business’ financial performance what you think it should be?
Do you have a financial management process in place to lead you to where you want to be?

Planning over the past couple of years has been challenging at the very least.  For those who have planned, the constant adjustments that have been necessary have made the entire process feel pointless.  But it’s during turbulent times that planning for your business’ growth and financial success gains even greater importance.

With the amount of economic uncertainty in today’s economy, coupled with supply chain disruptions, labor shortages, and rising costs – strategy management is critical to achieving your company’s profitable growth expectations. Businesses that have a clear vision and strategic plan in place know that implementation can often be more difficult than creating the strategy.

Developing a Strategy Focused Organization that can implement your business’ operating plans will improve your chance for success. Organizations that know how to build meaningful operating plans can properly allocate resources to prioritized initiatives.  They can measure results and are best able to reach their potential. If the past two years have taught us anything, it’s that an integral part of the plan should be a backup plan – or two.

Getting these processes started is difficult, but over time you will find that you can build out the competencies and processes that are needed.  Progress in building out the processes will happen gradually, but getting started with what you have is critical – particularly in today’s economic environment of uncertainty.  As the processes develop, it makes everyone’s role easier over time and empowers employees to make critical, timely decisions when necessary. This creates a better, more cohesive operation.

Share:

Related Posts

Oct 30 2022

Strategic Planning for Business Owners: Staffing During Exponential Growth

If you're in a business that's experiencing exponential growth, one of the problems that you're facing even now is staffing.

Aug 22 2022

How to Choose the Right Banking Relationship

By this time, you are well on the road to executing your strategic plan for this year. Odds are you

Categories
Archives

Get Clarity On Your
Company’s Performance

Our people are unique CFOs. They are all operationally
based financial executives.

FREE 90-Day Survival Plan Application

Created Custom For Your Company By an Experienced CFO

Call Now Button