4.4.5 How to Build a Plan
|4.4.5 How to Build a Plan
|Friday, 23 February 2024, 3:57 AM
The first step in establishing a good plan is 'Know what a plan is'.
A plan can be defined as a set of goals, objectives to be achieved within a certain time. Therefore, the plan should include resources to be deployed in order for ensuring the success of the plan. Anything starts from planning the 'where and how'.
2. How to create a plan
Goals should be clear and involve deadlines to be effective.
Effective goals are summarized by the acronym SMART:
Specific: Your goal should be stated clearly: e.g. 'I want to increase the turnover of 15% within 2 years, by establishing partnerships and alliances in the American market', rather than, 'I want to make my company more profitable'.
Measurable: You need to quantify your goal to know when your objectives will be achieved. See the example above.
Attainable: Goals should be challenging, but not over exaggerated, they should be realistic and ambitious.
Relevant: Goals should aim at improving a current situation.
Time: Set a range of time to establish better working criteria, e.g. in 2 years, in 4 months. This gives sensation of closeness and makes objectives more tangible.
An advantage of setting plans, is that they suit for both large and small businesses.
2.1. Resources needed to happen to reach your goals
You should analyse the resources needed to accomplish your mini-goals.
This part requires neat analysis capabilities and calculations, you may utilize quantitative tools to analyze trends, statistics, pitches and fluctuations.
In establishing a plan you need to ask what tasks you need to do regularly to fulfill your target? For example, if you want to increase your position in the market, what do you have to do? and how?
In business, this section is often linked to marketing activities; although, it may also support quality checking procedures, creation of prospectus and customer care control, e.g. monitoring the degree of satisfaction of customers.
2.3. Follow up
This task involves following a daily schedule, or in other words do the daily tasks you have planned to do. When you feel you are not pursuing your objectives keep calm and breathe, don't crave for immediate success, or at the first difficulty you will lose your motivation and quit. People often quit because do not see immediate results and their motivation drags soon.
Instead, keeping track of your accomplishments and results will help you to make your goal to happen, tweak in case you are not going into the scheduled direction and keep the eye on your prize.