From storming the Capitol to running a business, failing to plan is a common reason for failure. During the pandemic, individuals and business failed to plan well. Restaurants made the temporary changes of enforcing healthy guidelines in line with COVID-19, but what more are they doing? Without investing time in organizing your business goals and understanding market trends, your business will fall victim to competitors and disruption. Even Manny admits that lack of planning played a role in past business errors.

Take it from Spark Partners to know how to plan SMART for the future.

Planning is not just goal-setting, or about making short-term adjustments. Planning requires envisioning where you want your business to be in the future and detailing exactly what you’ll do to get there. You must go beyond being reactive to the market towards being a proactive for future success.

How are you planning for the long-term? Smart retailers, for example, are planning for a future that incorporates the gig economy and mobility to better manage inventory. No reality show feature or stimulus check will guarantee your survival into the future. Take the time to plan continuously to adapt to the changing world. Shift your business to provide value to customers now and into the future.

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Thinking Points:

• What long-term changes to your business are you planning on making this year?
• How often do you and your team take time to plan for the future?
• Have you planned for your business’s success in 2021? In two years? In five years?