Where Would You Be Without a Navigation System?

If you’re like me, you use your navigation system almost every time you get in the car. We no longer use a map and ask for directions; we punch an address into the system. Then the system calculates the fastest route, time, and hazards, displays it on built-in screens, and announces turn-by-turn directions with a familiar, calming voice. We have confidence that we will arrive at our destination by the fastest means possible, even if we’ve never been there before! God help us if we’re driving in an unfamiliar city, rushing to get to an appointment, and our Global Positioning System (GPS) goes out!
In the old days, we navigated by map. It was much trickery then, and if we didn’t have the correct maps or lacked map reading skills, we made many stops and asked for directions. The AAA Automobile Club was my favorite place to visit before making an interstate trip. They had many maps and would plot your journey if given enough time.
The multi-year and annual business plans are your company maps if you’re a business owner or CEO. The plans, just like a map, are directional and guide those on the journey to a destination to be reached in the future. Without the plans, the company relies on luck or, in some cases, prayers for divine intervention to help achieve its destination, which is irrational. CEOs can’t tap into a GPS that will plot a path to their company’s future, at least not yet, so they must rely on a plan, and absent one, the company will be lost.
If you lead a company and want it to be enduring and sustainable, you must plan, yet many business owners and CEOs avoid planning. Why? Because they haven’t learned the skill or established it as a critical business discipline. They’re so caught up in the day-to-day operations and choose not to set aside time to plan. I’ve listened to many CEOs lament that there isn’t enough time to gather critical people and plan.
This is like saying that before taking a family vacation to visit several states, you don’t have enough time to figure out what sites to see and where you will be lodging or camping. You’re just going to gather the family, get in the car, and go…someplace! This isn’t rational, so why would you lead a company without a plan?
Companies must incorporate a planning process into their operational disciplines as a best business practice. Multi-year and annual planning occur before the start of the next fiscal year. The plans are the basis for the multi-year financial forecast and the company’s yearly operating budget. During the fiscal year, quarterly planning occurs. Teams, from the executives down to sections, plan their next quarter’s activities, ensuring they are nested with the goals established in the annual plan.
The planning process is the company’s navigation system. It keeps the company aligned, focused, and forward-thinking. Without it, the company for sure will be lost!
COL Paul A. Raggio (Ret), the owner of Five Star Leader Development, is a fractional CEO/COO who develops C-Suite executives, business owners, and their management teams on leadership, management principles, and best business practices. His email address is paul@fivestarleaderdevelopment.com, and his phone number is (252) 571-7368. Visit his website at https://www.fivestarleaderdevelopment.com.