Why Create an Annual Plan?

Can you imagine going on a road trip without knowing your destination? Or, building your house without plans? The same can be said about running your business without a plan.

They say that "If you don't know where you are going, any road will do." But if you don't know where you are going how do you know when you get there? Or if the road you are on is the right road or the scenic, roundabout route?

Planning is essential if you have somewhere to go. If you want to grow your business, if you want to have more free time, if you want to introduce a new product, if you want to enter a new market.

You don't need to plan if you have reached your destination, if your business is all you hoped it would be. BUT ? have you considered that the world is changing pretty rapidly these days. Even if you are happy with what you have, your environment is changing, which, if you like it or not, is going to change your business. Therefore, we come back again to the need to plan.

What planning is NOT:

It is NOT that 120 page document you created when you tried to get funding to start your business. That document was essential to start your business and it might be useful every 5 or so years if you change your business focus but it does not work for an annual plan.

It is NOT a document that is placed on a bottom shelf and looked at once a quarter or once a year.

It is NOT a to do list

It is NOT a wish list

What is annual planning?

Annual planning is about creating a vision for the next 3-5 years and then formulating concrete plans to achieve that vision. It is about deciding on a future and how you intend to obtain that future, one year at a time.

It is about creating measurable goals that can be tracked.

It is about tracking those goals on a weekly and monthly basis so that they are actually achieved at the end of the year. Goals can only be tracked if they are measurable.

Annual planning is about understanding what is working and not working and using that to set further action plans.

Annual planning should also be able to able to monitor the performance and effectiveness of your staff over the year.

A well structured plan will also have the ability to be used as an effective monthly reporting tool by managers. It becomes the common language.

Planning is not only for whole businesses but also for business teams, divisions, projects and even individuals.

Planning brings about focus and clarity of what is to be achieved. Equally when done effectively, planning brings about alignment between team members and people become accountable for completion of their goals.

Planning brings about business success and bottom line results.

GRAEME NICHOL, President, Arcturus Advisors.

http://www.arcturusadvisors.com/

Graeme Nichol has worked on 4 continents and in 117 unique businesses gaining experience in manufacturing, transportation, agriculture, communications, banking, direct marketing, consumer goods and retail amongst others. He has significant management experience and consulting experience, including Business strategy, project management, change management, big six consulting, team productivity, business productivity and quality improvement, ERP implementations.

Arcturus Advisors works with businesses and teams that are struggling to formulate a strategic plan that delivers bottom line results. Using tried and tested planning systems that have achieved results internationally for 20 years we ensure that you transform your business through focus, alignment and accountability.

one time home cleaning Highland Park ..

In The News:

Privacy risks are hiding in plain sight, as your personal data is likely being collected, tracked, and sold without your knowledge.

VenHub, a fully autonomous, AI-powered smart store just opened at the LAX/Metro Transit Center in Los Angeles.

A woman's Facebook account takeover reveals dangerous social engineering tactics and provides lessons on recovery, avoiding scams and enacting stronger security measures.

Shanghai engineers are using 432 walking robots to relocate a complex, preserving Shikumen architecture while creating space for a modern underground hub and cultural center.

Major healthcare data analytics firm Episource had a cybersecurity incident exposing 5 million patients' medical records and personal information in recent breach.

A new sophisticated PayPal scam sends legitimate-looking emails from official PayPal addresses, using phone numbers instead of links to convince victims to download remote access tools.

Fox News' AI Newsletter brings you the latest on this rapidly evolving technology.

The innovative Kara Pod device extracts moisture from air to create mineral-rich water and brew coffee, featuring UV sterilization and compatibility with Nespresso pods.

Gov. Hochul unveiled New York's nuclear power plant project to power a million homes, which faces permit challenges while promising jobs and a cleaner energy future.

SAFE introduces Aerie, an underground luxury bunker combining high-end living with advanced security, wellness amenities and interactive walls simulating panoramic views.

A Facebook scammer posing as Elon Musk tricked a victim with promises of a Tesla and $250,000, requesting gift cards that become untraceable once the codes are shared.

Experience hands-free golfing with the Robera Neo smart caddie that uses AI to follow you, navigate obstacles and carry your clubs with GPS course mapping.

Cybersecurity alert: 16 billion passwords exposed in massive credential database affecting major platforms. Protect your accounts with password managers

The innovative BeBot robot uses electric power to remove pollution from shorelines, covering 20-30 times more area than manual collection while preserving wildlife.

A new ClickFix campaign targets macOS users with fake Spectrum support sites, tricking victims with CAPTCHA failures to paste commands that install information-stealing malware.

AI-powered autonomous trucks from Plus Automation are being tested across the U.S., Europe and Asia to solve logistics challenges while facing regulatory hurdles and labor concerns.

Your health information might feel private and secure with your doctor, but the reality is far more complicated. Data brokers collect a wide range of sensitive health data, from diagnoses and prescription details to personal identifiers, and sell this data to marketers, insurers, and other third parties.

Kepler Robotics has officially introduced its Forerunner K2 "Bumblebee" humanoid robot at the SAIC-GM automotive plant in Shanghai, marking a significant moment in the real-world deployment of advanced robotics.

Scammers never seem to be running out of new ways to try and get their hands on your money – and lately, they've been getting sophisticated.

Thirty people were injured and killed, though the exact number remains currently unknown, when a suicide bomber blew himself up in a Damascus church.

Unexpected password reset alerts signal potential hacking attempts or phishing scams. Learn how to respond and establish stronger security measures for your accounts.

A historic electric airplane flight landed at JFK with passengers, marking a milestone as Beta Technologies demonstrates the practicality and efficiency of electric air travel.

The Chaos ransomware group breached Optima Tax Relief in a double-extortion attack, stealing sensitive customer case files and corporate documents with personal information.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

The first human brain-computer interface by Paradromics was completed in 20 minutes, featuring microelectrodes to help paralyzed individuals control computers with thoughts.

Why Create an Annual Plan?

Strategic Planning