When Planning is a Bad Idea
It is not unusual for organizations to find themselves in situations they wish they weren’t:
revenues are down, profit margins are thin and getting thinner, costs are rising, customers
are defecting ... the list goes on and on.
When this happens, employees, management—maybe even the customers—may suggest the
need for a better plan. While this is a great idea, putting a plan together at this juncture—or
worse, executing ideas as they occur to you—will likely lead to more misfortune.
As a small business owner, you may be thinking that one of your advantages is being quick and agile and the process of planning will only slow the organization down. While it may be a competitive advantage to have lightning-quick reactions to
market opportunities, such an ability should not be the only reason the organization is able
to do what it does. Much like a professional athlete, such as in basketball, football, baseball,
or auto racing, quick reflexes are important. But what separates the good from the truly
great is vision, the ability to see things as they are developing, and an understanding of
where they need to be and when. When looked at from this perspective, quick reactions are
supplemental, allowing for minor adjustments or quick recovery from mistakes.
Therefore, in order to help your organization get on track, you must first understand the situation and a SWOT analysis is one of the best first steps you could take.
So our recommendation? DON'T MAKE A PLAN. Instead, use this Marketing Tool & Diagnostic to help you assess your situation and find the right direction for your company. Inside, you'll learn:
- What a SWOT analysis is
- What the purpose of a SWOT analysis is
- Benefits (and risks) of a SWOT analysis
- How to discover your strengths and weaknesses
- How to uncover opportunities and threats
- How to analyze the data
- How to create a SWOT report
- How to turn a SWOT report into actionable information
