December 20, 2017
Your plan needs to outline two things: how you’ll grow and how you’ll manage financial risks. I was all set to write a column on business planning, employing Gen. Dwight D. Eisenhower’s overused quote, “If you fail to plan, you plan to fail.” But then I read Ian Sanders and David Sloly’s booklet, “Unplan Your Business,” which gave me a very different perspective. While Eisenhower wasn’t wrong, businesses has changed radically over the past five years . . . so the standards of business planning that many of us grew up with may no longer apply. In particular, the days of the detailed three-, five- and 10-year plan may well have gone the way of the Betamax. With the rapid pace of change, who can predict how things will look in one year, much less five? And the newly self-employed (a.k.a. the recently unemployed) may not have the luxury of time to engage in business plan navel-gazing. Sanders and Sloly don’t advocate no planning–they simply raise the valid point that too much planning, evaluating and cogitating can…
Continue ReadingA recent study has found that when companies are linked in a network of strategic alliance relationships with only a few degrees of separation, they are more innovative. Jointly conducted by the University of Washington…
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