3 ways having a plan will help you run your business
Planning is a skill everyone has to some degree. The planning skill exists along a continuum. I am a super planner, which is super beneficial in the work I do. Others struggle to build or follow a plan without hand-holding.
My super-planning skill impacts everything I do. A good plan, even as simple as knowing in advance the restaurant we are going to eat lunch at between a birthday party and soccer practice, reduces my stress immensely. With a plan, I have greater confidence I can execute without having to fret about my course of action. In addition, I feel better prepared to deal with the unexpected events that occur while going through my plan.
Even when I do not have a plan, there is a plan. I plan for there to be nothing to do so I can be spontaneous. Yes, I plan my spontaneity and then I actively work to not plan anything when the spontaneous portion of the day/week/weekend arrives.
For those that are challenged by creating a plan and feel constricted when a plan is in place, there are three reasons why having a plan for your business will help you run your business more effectively, increase your opportunity for creativity, and reduce your stress over the future of your business.
Evaluating new opportunities
As a business owner and entrepreneur, you have ideas and a vision for your company and where you want it to go. There are fresh opportunities to pursue around every corner. Whether you are the entrepreneur that chases every shiny object that pops up, or the entrepreneur that thoroughly analyzes an opportunity when it presents itself, having a plan for how you want your business to achieve its goals or targets will allow you to assess each opportunity based on what you want for your business.
When a new opportunity appears, having a plan will allow you to assess how it fits with your vision and determine what part of the plan will need to change based on the new opportunity.
Focus on the right activities
Business owners are pulled in hundreds of directions each day. You touch every function of the business in some way, and it is easy to spend your days feeling like you are running in circles. When you put a plan in place that outlines what you want to achieve and how you are going to get there, you have created a mechanism to ensure you are focused on the right activities.
When you feel unsure of where to spend your time and energy, use your plan to decide what to do and to gauge requests for your time. Additionally, your plan can help your team members prioritize what they spend their time on.
Confirm your progress
It is easy to get distracted when you are running a business. There are different projects in the works and day-to-day operations that need to be attended to, and requests from clients, customers and other stakeholders. It can be exhausting and often result in feeling like you failed to move the needle on your business.
Once you are focused on the right activities, it is amazing how momentum builds. You can use your plan to ensure you hitting milestones along the way and are making progress on what you want to accomplish. Tracking your progress will give you insight into where things are going well and where things need to change course..
An incredible executive coach and friend of mine, Darci Daniels Talkington, wrote a great post on LinkedIn about planning that really highlights why a plan can help you move in the right direction.
“A lot of people have a hard time differentiating between planning for the future and worrying about the future. If you’re worrying, you’re trying to control the things you can’t do anything about right now. If you’re planning, you’re doing things today that will *help* you tomorrow - and that’s possible without the stressful feelings associated with worrying.”
Planners and non-planners are all going to worry about their business from time to time. No one wants to spend their days worrying about their business and where it is going. It is far more valuable to build a plan to know that you are going to achieve things tomorrow and in the future based on the course you set today.
Not sure how to put a plan in place to guide you in running your business? Elevation Business Consulting is here to help. Reach out to learn more about how we support business owners in building and executing on their roadmap.