BTC

Create Strategies for Growth and Value in Owner-Managed and Closely-Held Businesses

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Paralysis of Analysis

Some business owners I talk to say they are planning.

“Where is the writing?” I ask.

“It is not quite ready.”

I will ask, “Why?” Really, I already know what I will hear. Something was not available. Or a month later it would have been a better time (but then something else happened). The big event that will happen in six months will make the future more clear.

Whatever the reason, it has the effect of delaying – sometimes for a quite long period – the creation of a written plan.

My counsel is: “Write it first, and then analyze it.” Do not use analysis (or “. . . wanting to get it right . . .”) as an excuse for not having anything written. Also, get the writing in front of the group that needs to see it as soon as possible (and get their comments in writing).

The plan will be less effective if in its creation the writing is not considered by the group affected (the stakeholders) and if thereafter the plan is not clearly articulated in a disseminated writing.

Planning should be the consistent task of revising the current written plan.

 

 


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