Many organizations wait to start their planning for the next year until the fourth quarter, but now is really the ideal time to begin the process for a number of reasons. First, updating your plan now enables you to incorporate planning decisions into budgeting decisions. Second, updating your plan for next year requires you to revisit your plan for this year which can provide a good shot in the arm to keep pushing those 3rd and 4th quarter initiatives. And finally, doing it now insures it won’t get lost in the year-end, holiday rush that often derails year-end planning.
One of the biggest challenges around planning in organizations is the ability to keep a consistent and focused view of the road ahead. It’s not surprising given the fast pace and day to day pressures every business faces, but it’s important to maintain that bigger picture, long term view if significant growth and development is to take place.