Fail to Plan/Plan to Fail
This is the time of year where businesses start budgeting and planning for the next year.
The challenge this year is that with an election coming up and the pandemic showing recent signs of escalation some are having a challenge getting their teams to focus on planning.
Usually companies have two strategic annual plans, one being the target and the second being the stretch goal.
I suggest everyone this year have a third option. The third option could be called a fall back plan or nuclear option. Having an understanding within the team of what would happen if that becomes an possibility is something good to have in the drawer.
I always had the third option every year, because as they say stuff happens. I only had to use them two or three times in forty years, but because we acted quicker than the marketplace we avoided what could have been a disaster.
I personally believe that next year will be one of high demand and hopefully we can head back towards the pre pandemic economy.
Having your team aligned no matter what happens will make you rest easier at night.