In The News

 

 

Mon 2 Dec 2019

Why do we need to plan for the success of our business future?


Business Planning & Strategies
Do we as business owners not instantly make the connection that by planning for our business we are planning for our future retirement fund?

When it comes to the future of our retirement funds and planning for our future’s we are there 100%. We are all for it, we research the best way to invest our super, we look into the share market, we look at property investments. So if we can plan for our retirement, then why can’t we plan for the success of our business future?

We as humans naturally fear change, we are set in our ways it is in our DNA. Psychologists say that our brains are in effect a map and the map starts to develop in our early developmental years where we gain our ideas about business, relationships and the way the world works.

If we do not experience innovation, change and resilience early on, our prefrontal cortex works overtime as we experiment with new ideas and skills. As we experiment with different learning ideas and opportunities our brains become more receptive and our brain map changes, however when we are challenged our old ideals and ways come sneaking back to us and we fall into the old familiar patterns that we are used to.

Given this, planning is something that we are doing every day however we just trick our brains into thinking that strategic business planning is hard. It falls to the bottom of the pile as in the short term it will not give us instant results. We live in a world of instantaneous communication and results, we want things done quickly and done now, why do we have to wait in a world of Twitter, Instagram, Facebook, Tic Toc and YouTube for our strategic plans to fully develop and provide a return on investment?

Strategic planning of our businesses is something that takes time and effort on our part. It doesn’t have to be difficult if we choose to make it part of our brain map, and work on it a little each day to develop our skill set, just like when we learned to walk or tie our shoe laces we didn’t do it just once, we repeated the same skill over and over again until it became a part of daily life and was committed to our long term memory now most of us can do that automatically.

When we have a written plan it is easier to follow when things go wrong, we have a back up plan, it is something that we can measure in terms of why things worked or why they didn’t work. Do we as business owners not instantly make the connection that by planning for our business we are planning for our future retirement fund; strategic business planning is no different to planning for our retirement. I pose a 30 day, 15 minute challenge to every single business owner to work on their strategic planning for 15 minutes per day and then see if your business improves.


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