Business is What Happens While you are Making Other Plans

We all know that the ability to adapt and recalibrate in business is not just a skill but a necessity. We depend on the future actions of our customers, employees, vendors and interest rates, so we try to predict them. But, of course, we never get it right, as John Lennon wisely wrote, "Life is what happens while you are making other plans." Consequently, continuous planning for businesses, where internal and external events unfold relentlessly, influencing the trajectory of our goals and strategies is paramount.

Something that is not always understood is that business plan is not a crystal ball; it's a snapshot, capturing a clear strategy at a specific moment in time. The reality is that the business world is dynamic, with variables changing constantly. To merely have a plan without the commitment to revisit and adjust is akin to navigating a ship without adjusting its sails to the wind ... take it from the Admiral!

Most business owners inherently understand this, often having a mental blueprint of their desired changes. However, the true power lies in formalizing and documenting these plans and understanding where the new numbers will take the company so that we have effective decision-making. By adjusting the business plan along with the budget and forecast, the business owner reinforces a culture of adaptability, where change is not feared but embraced.

Moreover, including key team members in the planning and any adjustments is paramount. It's not just about the business owner having a vision; it's about aligning the entire team towards a common objective. Putting the plan on paper, attaching numbers, and securing buy-in from team members transforms the dream into a shared reality, fostering collaboration and a collective sense of purpose.

In conclusion, continuous planning is not a luxury but a strategic imperative for businesses. It's the compass that keeps the ship on course in a sea of uncertainties, acknowledging that the journey is as important as the destination. As Lennon's words resonate, life (and business) happens, and continuous planning ensures you're not merely reacting but actively steering towards success.