Why Is Planning So Important?

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You’ve probably heard the saying ‘fail to prepare, prepare to fail.' Is this something that rings true with you? How often do you think that there isn’t enough time to plan and it’ll be alright on the day? While this might work some of the time and you may have succeeded in the past without planning, but imagine how much better you would have been if you had planned too?

So, why is planning so important? 

American clinical psychologist, Fitzhugh J. Dodson once said: “Without goals and plans to reach them, you are like a ship that has set sail with no destination.”

One of the most beneficial parts about planning is that part of it is creating the goals you want to accomplish. While many view planning as boring and an ‘inconvenient’ step, at its core, planning can prove to be of great help to everyone. Planning may not seem like such an integral part of success, but once you yield its benefit, it’ll prove fundamentally crucial in every area of your life. Proper planning is not only needed to encourage you to achieve the goal you set out for yourself but also to break it up into bite-size pieces and small goals that makes achieving much more attainable. 

Brian Tracy, motivational public speaker and self-development author, says: “Every minute you spend in planning saves ten minutes in execution; this gives you a 1,000 per cent return on energy.” 

When you start by writing down your goals, then planning will give you a clear perspective on what needs to be done and how much time it is going to take for you to do it, how much time your need to spend on working on your goals. Planning is closely associated with having proper time management as it encourages you to set aside a reasonable time for a specific task before moving ahead to the next. Planning and resource scheduling helps you to prepare a guideline, and a timeline for how you can maintain and reach goals that you have set up for yourself and the good thing about this is that everyone can do this, but a timeline can be adapted for each individual. 

Even if you don't think you are a planner, when you think about it, you are actually planning all the time. Take your holidays, for example; they wouldn't happen unless you planned. It's a simple way to look at it; you decide your goal which is where you want to go, then you decide when you want to do it and next you work out how you're going to do it. This is planning, and what is the benefit? A fantastic holiday where you not only have everything you need and will have done everything you needed to before the trip but also you'll visit everywhere you want to and won't miss a thing during your trip. 

So, when you travel, you plan your trip. When you are getting married, you plan your wedding, and when you throw a party, you plan the event. You would never do some of these things without planning for them; they would never happen if you didn't plan and other things in life are no different. Even if you just want happiness and fulfilment in life, you need to plan for how you're going to get it and then work at it. Many people neglect to plan their lives and then get disappointed and discouraged when they do not get what they want. Just like planning anything though, planning your life is just the same as having a road map that helps you to reach where you want to go.

Unless you have already been somewhere numerous times and know exactly how to get there, then you will need to get a good map or your sat nav out. Otherwise, you would be stupid to get into your car and try to get there. All you will do is drive around aimlessly, make mistakes, probably go back on yourself, get frustrated and then if you do eventually reach where you want to go, you will do it in a lot more time than it would have taken you if you had had a map in the first place. Apply this to life and having a road map to getting to where you want to go, it makes sense, doesn't it? However, so many people in the world today fail to plan their lives and end up lost or stuck where they are.

But taking time to plan your life, means that you are not only taking the right steps to identify and reach what you want from life, but also to do it in the most efficient way possible. Rather than relying on pure chance in life or in business, a life plan will detail the exact route and steps that you need to take. It helps you get there in the shortest time possible without and running out of fuel.

This planning can be applied to both big and small aspects of your life. It could be that you want to wake up earlier than you have been, stop smoking, start going to the gym, move to France, be closer to and spend more time with your partner and children, or be a kinder person, or start your own business, or lose some weight, or get a promotion or better job. 

By planning, you can reduce so much stress and frustration which allow for a better experience on holiday with your friends or family. So, if you can translate that planning to every other part of your life, then life could be one big holiday. 

Not only does planning reduce stress but it also means that you can then be flexible, once you have a plan, then if there needs to be a small change, then it can be done with little to no effort.

Planning offers direction

Whether it's a holiday or a business, planning helps you to create your goals and then take the first steps towards achieving them. Planning a direction for your business or your holiday or anything involves creating a roadmap and this planning can take many different shapes and sizes, and as you create this roadmap for accomplishing your goals, you will find your planning offers you the direction you need to get there.

Planning uncovers problems

When you create your goals and know the direction you're going in, it means that you are prepared for what is coming next and the more prepared you are, the better you can handle problems as they arise. In fact, it won't just be a case of handling issues as they appear, with clever planning you will uncover the potential problems before they even occur. When you work to plan out a direction carefully, you’ll undoubtedly reveal possible obstacles you may run into along the way, but if you aren't careful when planning, you may never discover these issues until its too late.

When you uncover problems, you also find solutions there and then and can implement them before the problems even become a reality. Being able to resolve and work around issues is invaluable in business and in any area of life. 

Finally, planning gives you perspective, and it provides you with a clear view of what matters and what you can accomplish. As you plan your goals and focus on what you want to achieve, working out how to achieve those goals will force you to get organized, prioritize and put them in perspective. 

There is no point working on something that isn't important; no one wants to waste time doing that. However, it can be easy to get distracted and for your objectives to get lost in the daily grind. Planning helps you to stay focused and to keep your perspective on your purpose and your future and on what you really want, no matter what it is. Then you will experience success and will see the rewards for your planning.

As much as people love to believe in overnight sensational success stories where people who came from nothing simply fell into selling something online and made millions, the truth is that it while this might have happened to the odd person, success really does take planning and the planning makes it rewarding too. Planning makes perfect, and the benefits of planning far outweigh any disadvantages. Once you start planning, it will just become an essential part of your life and success will follow.  

Looking for a New Business Idea? Consider Paid Parking Lots

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If you want to enter the entrepreneurial world, but haven’t decided what to do, how about parking lots? Launching a parking lot business could be the best thing you do this year, given the growing number of cars that need places to park. For the biz to be a success, though, you’ll want to consider a few things.

Find the Right Lot

Yes, you’ll need a parking lot. Location is crucial here; pick a lot that has steady traffic, so you’re sure the spaces will fill up regularly. Also, check how easy (or not) it is to drive in and out of the lot.

Ideally, you want to own a parking lot that is easily accessible and in a busy area of the city. Once you find one you like, look at its cost and whether you’d have to change anything construction-wise about it as changes can be pricey.

Security Measures

Congratulations on finding the premises! Next up, secure the property. Unfortunately, parking lots can be a target for vehicle break-ins. Protect your customers as best as possible with effective LEpro LED parking lot lights.

The bright illumination is sure to deter those who have crime on their minds. It will also deter strangers from dumping trash into your bins if you have any on the property. Along with lighting the lot itself, also ensure stairwells are lit up, if applicable.

Additional security options are hiring guards to patrol the area, as well as live monitoring. A security gate is also something to consider.

Proper Insurance

Never forget insurance for the site! Get full general liability coverage, as well as premises liability, in case any customer gets injured on site. This consideration is part of smart business planning.

While you might think that’ll never happen, the reality is that you just never know what is in the future, and it’s not wise to risk your assets. If they were to sue your company and you don’t have insurance, that could be a one-way ticket to bankruptcy.

Figure Out Prices

Finally, determine what you will ask customers to pay to rent spaces, both for monthly and annual rates. Also, will there be hourly and day rates available?

Another consideration is whether to increase rates for evenings and on weekends. Some but not all lot owners do so.

Starting a New Business

If you’re looking for a new venture, a parking lot business could be right for you. If you’re not sure if it’s a good fit personally, why not try working for a short time as an attendant to learn more about the way the business works?

If you’re still interested, then begin the entrepreneurial journey by doing your homework to find a suitable premise. Be sure to have insurance, as earlier discussed.

Remember to advertise the lot to businesses close by, as well. Let them know you’re open and even offer a special rate for the first month to those who work in the neighborhood as a way to attract attention.

Determine reasonable pricing for customers and secure the lot properly. We are wishing you all the best with this fantastic opportunity!

Why 1 Out of Every 10 Startups Will Succeed

As a startup founder and the owner of three businesses, I know all about failure. I’ve made my fair share of really dumb mistakes throughout my career, especially in the early years; however, I’ve also been fortunate enough to learn from those mistakes and never to make them again.

And so, I’m going to share my insight on why only one out of every ten startups will succeed and make it see its second and third birthdays.

1). Strong Market Research and Target Audience Definition - The founders and business owners who have conducted the proper market research are more likely to have startups that succeed because they made sure there’s a demand for their product or service. They don’t spend weeks or months trying to guess what their market(s) want.

2). Product or Service Differentiation - Founders and businesses owners who have a product or service that’s different from the rest of the competition (it’s unique, better, or innovative), have a pretty good chance that it’ll sell, which means their businesses will probably be successful.  

3). Business and Marketing Planning - Smart founders and business owners plan each stage of their businesses. They have short-term and long-term plans including measurable goals and results. Without a plan, a business is more likely to fail.

4). Strong Leadership - Businesses with strong managers and founders do better because employees feel appreciated and, therefore motivated to perform better.

5). Scaling at the Right Time - Many business owners fail because they scale their businesses too quickly by hiring too many employees or spending too much money on marketing in the beginning. However, business owners and founders that control their growth are the ones that win.

6). Knowing the Numbers and Showing Profitability - Business owners and founders who know their numbers and show profitability are more successful than business owners who don’t a sense of their customer acquisition costs and the lifetime value of their customers. They also understand the differences between revenue and profit as well as know how to read financial statements.

7). Clear Core Values - Businesses with clear core values and communicate them through marketing are more often successful than businesses that don’t have them. Core values often times include honesty, transparency, integrity, quality, respect, among many others.

8). Business Owners/Founders are Accountable - Successful business owners and founders hold themselves accountable for their actions and write down their goals to make sure they stay on track.

9). Business Owners/Founders are Action Takers - Successful business owners and founders plan and then take action. They don’t let procrastination or perfectionism get in the way of launching a new product or service or growing their ventures.

If you’re in the 10 percent of businesses that are succeeding, we’d love to hear what you’re doing in the comment section below.