Why Planning is so Important

Why planning is so important

by Ormond Rankin

In his book, “What They Don’t Teach You at Harvard Business School,” Mark McCormack made and interesting discovery about the 1979 graduating MBA class. Within the group, 3% had written goals, 13% had thought of some goals and the balance were just thrilled to be out of school (I am sure you remember those feelings).

The interesting part was what happened ten years later.Here are the results of their success after a decade:

  • The group that had non-written goals were making TWICE the compensation compared to the 84% of those who had no goals leaving Harvard.
  • The group with written goals were making TEN TIMES what the other 97% were making on average.

I think you would agree that the folks at Harvard have a long history of knowing what they are doing. So if the top 3% were able to make TEN TIMES the money as everyone else by simply writing out their goals, why aren’t you doing it?

The signs indicate that we are already through the worst part of the ‘recession’ and yet with positive signs in many areas, the projections for growth are modest at best. As we get close to the New Year, the idea of developing a written plan should be a weapon that you’ll use to ensure you & your firm put its best foot forward into 2011.  Would it be good to have the strongest weapons for growth in your arsenal?
Make sure that one of the resolutions you set and keep right now is to make a strong plan for yourself and your business; one with enough detail that you can actually make progress against them on a consistent basis.

Write down ALL the goals you have for the next year. Then, find someone to share them with and have them check up on you monthly (quarterly at a minimum) to see if you are making progress. Have them hold you accountable with rewards and consequences for hitting your milestones.

TIP: Make milestones and chip away at each goal a little every day so the overall picture doesn’t seem so overwhelming.

If you do this, then it won’t be long before you are making TEN TIMES more than your competition.

One way to jump start this process is to write down your goals and then register for our  GrowthCLUB workshop. During this powerful day you’ll participate in a proven process which will set your plan in action to achieve massive results! 

Once registered, you’ll receive comprehensive pre-work to complete and bring to the all day workshop on January 7, 2011.  You’ll walk out with a one-page strategic plan and absolute focus for the next 90 days to achieve your goals!

Have a great week!

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