Time to Revisit Your Business and / or Personal Plan

As the year is now 2/3 over and will be 75% finished by the end of September, it’s planning season for many companies.  Some may be just starting while others are almost finished.  The basis for 2012’s plan is or should be strongly influenced by 2011’s plan and results.  A business plan review to revisit the planning assumptions, the strategies agreed to, actions planned and budgets allocated should be the starting point. 

Many questions need to be answered.  Are all of these building blocks of the plan still in effect, still valid and still affecting outcomes?  Have any of these components of the 2011 plan been altered?  So what have been the results?  Are interim targets being met?  Can results be improved by changing any of these original or altered components?  Which ones need to be adjusted?  What will be the magnitude of any of the changes?

Once the review of the success of the 2011 plan’s year-to-date results and course corrections are factored in, one should be in a better position to more accurately forecast total year results.  The added benefit of the review process is that much of the work needed to build 2012’s plan has already been undertaken during the critical analyses of the influences of the 2011 planning assumptions, the strategies agreed to, actions planned, budgets allocated and courses corrections.

While this article has been focused on planning from a company or brand standpoint, the approach has equal application to one’s own career, financial and/or personal life plan.  Review, analyze, adjust, forecast and plan for next year.  Understanding the linkage between planning components and the results you achieved will only help to improve future results.  Do what you can to improve 2011; so you’ll enjoy a better 2012.  

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R. David Silva 
Business Editor

Business Consultant R. D. has 25+ years experience
in the world of business/marketing. 

Any topics that you wish to be discussed in this column?

please contact him at: silva@4fashionadvice.com