By Roz Sandham
If you haven’t started planning for 2022 you may be running late!
With the unpredictability of the future and the undeniable change in the way we work, counterintuitively planning becomes even more important for the survival of businesses.
Previously we had historical trends on which to base our future plans, for most businesses these trends have been turned on their heads.
Leadership needs to be brave and reasonable when setting goals and objectives for the next period of trade.
Make sure that you are reading as much as possible about what the future may hold. Also, engage with all the stakeholders in your business as they can often add value to the process.
When will trading get back to pre-covid levels and how do you plan for it?
It seems to be heading in that direction and if it happens in 2022, are you ready? Do you have the resources to support this level of business? Time, budget and human capital?
With many employees working remotely, planning is critical. If employees know what is expected of them and have a plan that everyone is working towards, it fosters a sense of belonging (which is a basic human need) and provides a sense of psychological safety. These will go a long way to ensuring that your plans come to fruition.
90% of organisations fail to effectively execute their strategic plans, according to Harvard Business school. This is often due to a lack of objectives (KPI’s) for employees, which should be linked to the overall objectives of the company.
Without proper planning you can also not allocate resources properly and in a manner that focuses ultimately on what the business needs to be focusing on.
Two way communication is hindered when there is not structure and plan or vision that everyone is working towards. Once you have a solid direction and everyone is pulling in the same direction then your communication needs to only be about that and how the business is doing in relation the plan.
If you don’t know where you are going, it is always easy to get somewhere. Even the most well-thought-out plan is just a stack of paper if it isn’t coupled with clear guidelines on your path toward implementing the plan.
Start by looking at all areas of your business; People, Operations, Marketing, Finance etc. and decide what needs to happen in each of those areas to drive your business towards your vision or plan for 2022 and beyond.
Things may change for sure, but at least you will have an idea of which road you’re travelling on, even if there are some detours along the way.
Read more: The Franchisor’s Franchise Business Plan