Your annual and quarterly planning sessions are expensive. Let’s do a little exercise:
When you add those numbers together, you have an idea of what you are investing each year in Annual and Quarterly planning sessions. Chances are, it is a significant investment. Now, consider the impact of those planning days.
Just think about one of your top strategic initiatives for the next year or even the next 3-5 years. What would it cost you if it doesn’t get done? What’s the potential revenue impact? What’s the cost of wasted time and resources working on a strategy that doesn’t pan out? Now, that’s just one initiative—you’re probably working on a handful (or more) of important strategies. You can see how the cost of not planning well could easily cost your company millions of dollars or more.
The cost of poor planning doesn’t end with the opportunity cost of not executing a carefully crafted strategic initiative.
Consider these impacts, as well:
When you look at it this way, the investment you are making in planning probably seems small in comparison to the value you are getting. But, if you come out of those sessions with anything less than a stellar strategy and concrete, realistic execution steps to get those strategies done, you haven’t maximized your investment. Download our annual planning guide below, or visit our annual planning product page to learn more.
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