Planning is crucial because it allows you to maintain control over your business, instead of being at the mercy of events. As Alan Lakein, celebrated American time-management author, explained: “Planning is bringing the future into the present, so you can do something about it now”.
Some events are predictable because they happen every year, for example, the Self Assessment tax return filing deadline. Others only happen in specific years or occasionally, for example, a major legislative change or high-profile event such as a royal wedding, which may or not have relevance for your business.
Some events will be unique to your business, for example, the end of a new major contract, while others may be relevant to your region or market, whether they affect all businesses or just smaller ones. National or international events can also affect small businesses.
Some events may threaten your business, while others bring opportunity. Once you’ve identified them, planning enables you to act in a timely, logical manner to either mitigate risk or capitalise on opportunity. Once you’ve created a plan for the year ahead, obviously, you must work to it, because although action without planning can prove fatal – planning without action is futile.
