Effective planning doesn’t just increase your chances of achieving a goal, it comes with a host of other benefits as well.
While goal setting is a fun and energizing process, actually achieving your goals requires a great deal of effort. This is why organizations that create business plans have a 30% greater chance of growth. Meanwhile, most failed business owners don’t follow a business plan.
The benefits of effective planning go far beyond achieving an organization’s desired results, however. Planning brings a company’s vision to life and benefits all who share in the goal in ten key ways.
Planning to Accomplish an Objective
All of the goal setting in the world would be useless without proper planning. In our ebook, The 10 Step Arootah Success Formula, we teach that a detailed step-by-step series of actions is necessary to accomplish any objective.
The Target Corporation, for example, recently created a series of action steps to ensure 100% of its private-label products were environmentally stable by 2040. Target’s leadership started the process by identifying clear and specific goals. After specifying the organization’s goals, Target announced its plan. A goal as ambitious as sustainability, however, requires an extensive and detailed plan of action and a strong purpose.
Once Target had determined the plan of action and the purpose behind it, they discovered that the benefits of creating such a comprehensive plan were enormous. To start, it reduced the risk of error on their part. All employees had a clear plan of action (on a micro and macro scale), and they easily grasped where they fell into that plan. They knew what actions to take while following the laid-out strategy.
Their plan provided their employees and customers with a clear focus—akin to a mission or goal—for performance; ultimately, everyone knew why they were doing what they were doing.
The key to efficiently and effectively achieving any goal is establishing a plan. It is the roadmap that helps you determine which actions you need to take in which order. Through planning, you learn to utilize logical reasoning to increase the probability of your own success exponentially.
10 Benefits of Effective Planning
If you need another reason to invest in an effective and thorough planning process, here are the benefits of planning for a goal:
1. Proactivity: Plans, like goals, encourage proactive behavior. Everyone involved in a plan has the opportunity to be proactive, since they share in the ownership of the goal. They take action in advance of being told what to do.
2. Focus: Plans keep an individual or organization focused on the goal. Undoubtedly, the plan will not include room for distractions in its execution, and the reward for accomplishing the goal inspires further focus.
3. Teamwork: Plans are the foundational basis for teams to rally around a goal. The more the team works together towards a common interest, the stronger they become as a unit.
4. Risk Management: Plans help teams anticipate obstacles. An effective plan will help organizations anticipate obstacles that could pop up in the future. Organizations can use the planning system to deal with these obstacles effectively and provide a course of action to overcome them.
5. Decision Making: Plans enforce the discipline of decision-making. The ability to make decisions quickly leaves teams with more time and energy to take action. A well-thought-out plan provides the standard on which to model all decisions.
6. Prerequisite: Plans are the prerequisite for achieving all goals. By planning how a team will accomplish a goal, organizations create an environment of confidence that inspires people to accomplish bigger goals in the future.
7. Allocation of Resources: Plans enforce the discipline teams need to allocate key resources. A plan helps teams envision how to achieve the highest return using the least amount of resources.
8. Creativity: The discipline required to prepare a plan improves the creative process immensely. In fact, studies have shown that creativity thrives under constraint. Those who share in the plan may find themselves more capable of finding creative ways to see it through.
9. Overwhelm: Plans reduce a team’s chances of feeling overwhelmed. By clearly identifying every action step in a plan, teams have no room left for overwhelm. They are always moving in the next direction toward the original vision.
10. Success: Plans increase the probability of goal achievement exponentially. In addition to the benefits mentioned above, companies that achieve their goals may also increase profits and make a positive impact on the world.
Put Plans in Writing
The planning process is not complete, however, until an organization has put a solid plan into writing. In the case of Target’s plan, for example, the company put its comprehensive plan on its website. This written plan increases accountability among its employees, while also letting Target’s audience and customers know the higher standard to which they now hold themselves.
If you care about achieving a goal, you must put it in writing. By writing out your goals and plans, you increase your probability of success by 1000%. Writing out your goals also allows you to see gaps in your planning and takes your process from a simple wish list to a strategic plan geared toward future success.
The effectiveness of writing down goals is backed by neuroscience too. On both an individual and organizational level, writing down the plan increases your chances of accomplishing it.
The Bottom Line
The benefits of effective planning go far beyond achieving your goals. Planning brings a company’s vision to life and benefits all who share in the goal.
If a goal is worth pursuing, then it is worth pursuing well. By creating and following an effective plan, you not only increase your chances of achieving a goal, but you also experience other benefits too. A plan of action is a perfect vessel for growth and development on an individual, organizational, or company level.
Make sure you check out The 10 Step Arootah Success Formula for more information on successfully achieving your goals.
How could you or your team most benefit from strategic planning? Let us know in the comments!