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Plans and planning

Dwight D. Eisenhower, Supreme Commander of Allied Forces during the Second World War and, later, President of the United States, is credited with saying, “In preparing for battle, I have always found that plans are useless, but planning is indispensable.” We hear this more commonly in the cliché “Fail to plan, plan to fail.”

In business as elsewhere in life, there’s a good deal we can’t control. That’s not a bad thing; we need to stay open to the unanticipated, because that kind of flexibility can bring us some surprising advantages. But we all know that when it comes to reaching goals in our business lives, working without any sort of roadmap can lead to a lot of meandering and frustration–in other words, we can get lost.

So how do you tell what sort of approach is right for your business? Would you benefit from a formal plan, or is the process more important than the product? Have a look at this list of advantages of drawing up a business plan.