3 Reasons Your Business Plan Could Fail

November 17, 2023
December 22, 2015
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I’m not sure if you noticed, but it’s December 22nd today. For many of us, that means a sudden surge of commercially-induced fear that we have not spent nearly enough on those we love. It may also cause you to realize that there’s limited time to create the perfect business plan you promised yourself this time last year. Déjà vu is uncomfortable. We all talk a great deal about business planning at this time of year, in those few wonderful days during which 2016 is still close and yet still a blank slate. Despite the talk, many of us don’t feel we plan enough and so we do the only thing that seems sensible – blame the tools we have at our disposal. If I’m honest, I’ve never felt that either a lack of understanding or a lack of tools was the real problem. It’s hard to get to this stage without a rudimentary understanding of business planning and google will offer up a mountain of resources. So as I thought about my final post of 2015 I determined not to share the steps to a great plan nor to chastise you for leaving it this late. Instead, I’ll share some insights (from those far smarter than I) on three things I believe that we need to do differently to ensure that our plan focuses on the right things and actually gets implemented. So as you look forward to 2016 with the child-like optimism that comes before something actually starts, I hope you find a few minutes to listen to three Ted talks to help you gain clarity and take action.

1. Find the courage to set goals that are meaningful

It’s easy to get caught in the trap of setting goals that are little more than a mathematical increase on what you accomplished last year. The only problem with that approach is that many of us want something more. We are seeking meaningful change or greater fulfillment and that demands we do things differently rather than more often. Perhaps more importantly (and in spite of our planning shortfalls), we are infinitely more structured in setting goals for our businesses than for other aspects of our lives. I would argue that we can’t effectively separate the two. Goal setting for business cannot happen in a vacuum. If we’re honest, we all know that real success demands that we nurture all areas of our lives, including our relationships and our health. If you aren’t convinced, look no further than Jim Loehr and his amazing book The Power of Full Engagement. He says that peak performance demands that we challenge ourselves physically, emotionally, spiritually and mentally - in equal measure. Well that’s a scary concept. That suggests that getting my business planning right (if I want to go big) demands a level of personal awareness and honesty that has many of us placing our heads squarely in the sand. Take a moment and listen to Brene Brown. Her Ted Talk is called the Power of Vulnerability (stick with me if this is getting a little too touchy feely for you). Here’s why this talk matters. As we think about planning for 2016, we need to lean into the discomfort and vulnerability associated with defining goals that have real meaning.

Click here for Brene Brown.

2. Set goals (but don’t tell people about them)

With your goals both meaningful and defined, you may be tempted to shout them from the rooftops. We’ve been taught that to make a goal stick we need to write it down and then tell people about it - I mean literally tell anyone who will listen to you. It turns out that while writing goals down has proven to be effective in creating clarity, telling people about them may have the opposite effect. Take a moment and listen to Derek Sivers. He shares evidence to show that telling people about a goal releases the same endorphins as actually accomplishing the goal - and that feeling may get in the way of us taking action. Here's why this talk matters. If we want to set goals that are meaningful, then taking action is critical. So if we can find just one way to give us an edge, then let’s take it….and stay quiet.

Click here for Derek Sivers.

3. Dig deep and get gritty

So you’ve set meaningful goals and you’ve managed to keep quiet. Now it’s all about finding the strength to stretch yourself and do the hard work, consistently and passionately. If the goals you set for 2016 didn't create substantial 'stretch', revisit #1.So what sets the goal setters apart from the goal achievers? Research suggests that it’s grit. More than a new label for something our grandparents would have told us is important, grit has attracted extraordinary focus over the last several years and is backed by robust research. It means that taking action is going to demand that we change some of the behaviors that have held us back in the past. Take a moment and listen to Caroline Miller. She talks about the role of grit in helping us succeed. Here's why this talk is important.  It highlights the qualities we need to see our goals through and it underscores the way that people, who have achieved enormous success, approach their goals. By the way, it will get you thinking about the qualities you are nurturing (or not) in your children.

CM

Click here for Caroline Miller

Why Does This Matter?

So while this may not be the usual advice on business planning, it seems to me that success demands we look at things from a different perspective and ask ourselves some tough questions. For the time you have taken to support this blog in 2015, I thank you. For the goals you have yet to set or achieve, I wish you nothing but the luck that comes from hard work.

Thanks for stopping by,

Julie

About the author

Subscribe for updates

3 Reasons Your Business Plan Could Fail

Red divider line

3 Reasons Your Business Plan Could Fail

Red divider line

I’m not sure if you noticed, but it’s December 22nd today. For many of us, that means a sudden surge of commercially-induced fear that we have not spent nearly enough on those we love. It may also cause you to realize that there’s limited time to create the perfect business plan you promised yourself this time last year. Déjà vu is uncomfortable. We all talk a great deal about business planning at this time of year, in those few wonderful days during which 2016 is still close and yet still a blank slate. Despite the talk, many of us don’t feel we plan enough and so we do the only thing that seems sensible – blame the tools we have at our disposal. If I’m honest, I’ve never felt that either a lack of understanding or a lack of tools was the real problem. It’s hard to get to this stage without a rudimentary understanding of business planning and google will offer up a mountain of resources. So as I thought about my final post of 2015 I determined not to share the steps to a great plan nor to chastise you for leaving it this late. Instead, I’ll share some insights (from those far smarter than I) on three things I believe that we need to do differently to ensure that our plan focuses on the right things and actually gets implemented. So as you look forward to 2016 with the child-like optimism that comes before something actually starts, I hope you find a few minutes to listen to three Ted talks to help you gain clarity and take action.

1. Find the courage to set goals that are meaningful

It’s easy to get caught in the trap of setting goals that are little more than a mathematical increase on what you accomplished last year. The only problem with that approach is that many of us want something more. We are seeking meaningful change or greater fulfillment and that demands we do things differently rather than more often. Perhaps more importantly (and in spite of our planning shortfalls), we are infinitely more structured in setting goals for our businesses than for other aspects of our lives. I would argue that we can’t effectively separate the two. Goal setting for business cannot happen in a vacuum. If we’re honest, we all know that real success demands that we nurture all areas of our lives, including our relationships and our health. If you aren’t convinced, look no further than Jim Loehr and his amazing book The Power of Full Engagement. He says that peak performance demands that we challenge ourselves physically, emotionally, spiritually and mentally - in equal measure. Well that’s a scary concept. That suggests that getting my business planning right (if I want to go big) demands a level of personal awareness and honesty that has many of us placing our heads squarely in the sand. Take a moment and listen to Brene Brown. Her Ted Talk is called the Power of Vulnerability (stick with me if this is getting a little too touchy feely for you). Here’s why this talk matters. As we think about planning for 2016, we need to lean into the discomfort and vulnerability associated with defining goals that have real meaning.

Click here for Brene Brown.

2. Set goals (but don’t tell people about them)

With your goals both meaningful and defined, you may be tempted to shout them from the rooftops. We’ve been taught that to make a goal stick we need to write it down and then tell people about it - I mean literally tell anyone who will listen to you. It turns out that while writing goals down has proven to be effective in creating clarity, telling people about them may have the opposite effect. Take a moment and listen to Derek Sivers. He shares evidence to show that telling people about a goal releases the same endorphins as actually accomplishing the goal - and that feeling may get in the way of us taking action. Here's why this talk matters. If we want to set goals that are meaningful, then taking action is critical. So if we can find just one way to give us an edge, then let’s take it….and stay quiet.

Click here for Derek Sivers.

3. Dig deep and get gritty

So you’ve set meaningful goals and you’ve managed to keep quiet. Now it’s all about finding the strength to stretch yourself and do the hard work, consistently and passionately. If the goals you set for 2016 didn't create substantial 'stretch', revisit #1.So what sets the goal setters apart from the goal achievers? Research suggests that it’s grit. More than a new label for something our grandparents would have told us is important, grit has attracted extraordinary focus over the last several years and is backed by robust research. It means that taking action is going to demand that we change some of the behaviors that have held us back in the past. Take a moment and listen to Caroline Miller. She talks about the role of grit in helping us succeed. Here's why this talk is important.  It highlights the qualities we need to see our goals through and it underscores the way that people, who have achieved enormous success, approach their goals. By the way, it will get you thinking about the qualities you are nurturing (or not) in your children.

CM

Click here for Caroline Miller

Why Does This Matter?

So while this may not be the usual advice on business planning, it seems to me that success demands we look at things from a different perspective and ask ourselves some tough questions. For the time you have taken to support this blog in 2015, I thank you. For the goals you have yet to set or achieve, I wish you nothing but the luck that comes from hard work.

Thanks for stopping by,

Julie

About the author

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