Financial Data
Updated 24 Sep 2020

Is planning outdated in the 21st Century?

These four actions can be adopted by you in the new year to achieve your goals and be (more) successful. 

Hilda Lunderstedt, 07 December 2016  Share  0 comments  Print

All the answers to your unique business lifestage questions

If you’re planning on improving your characteristics in 2017, you can follow these insights:

1. Speed of implementation

Our world changes from month-to-month and year-to-year and it has been proven that the timing of an idea is most often the determining factor in whether or not it will fail. Too early or too late is the difference between failure and success. When you understand the trends and the timing is right, it is critical to reduce the time from when you come up with your idea, to when you implement it, as this will ultimately determine how successful you will be.

Do not ponder on and stall the implementation of ideas whose time have come. 

Fail often, fail fast and fail forward. Failure is embraced in most parts of the world, but in our country, we are so afraid of failing that we often do not even start or we stall starting or implementing our ideas until we know or think our odds of failing is small. Learn from failure and move forward, and always remember the speed of implementation of ideas will determine your success.

Related: The 15 characteristics of people who succeed at sales

2. No excuses

How many stories and excuses do you tell yourself, or do you tolerate from others? The more excuses you have, the less successful you will be. Excuses are the domain of losers and are not for you; the successful person that you strive to be. Unfortunately, many people are not even aware of all the stories and excuses they spew as they have been telling themselves those same stories for so long.

If you look at some companies and entrepreneurs, the culture of tolerating excuses has led to such mediocrity that the business simply isn’t moving forward or growing.

As we near the end of the current year and venture into a new one, I urge you to stop making excuses and you will start to see remarkable results.

3. Trust, but verify

Trust -earned

Most businesses have a hierarchical and outdated management system, whereby the owner or senior manager wants to do everything by him- or herself, causing a massive bottleneck in their own businesses. In other extremes, leaders delegate tasks and just expect that it will happen, never following up. They rarely ever know if what they expected actually happened or if the person the task was delegated to is even on the right track. The assumptions we make in our lives and businesses cause so many problems and is so unnecessary.

What do I think? Explain the bigger vision you wish to achieve, let your team members understand their roles in this vision and let people figure out how to make it happen. Trust them, but check in frequently to verify that everyone is on the same page and on the right track.

4. Think disruption 

Every company in every industry will be disrupted in this, the information/digital age – no matter what size of business you work in or own. We have already seen the financial industry turned on its head, with the healthcare and education industries hot on its heels. 

Related: 25 Characteristics of successful entrepreneurs

When you think disruption, you will look for opportunities to disrupt yourself before you get disrupted and become a statistic. Look for models in other industries that can be adapted and used in your business. If you understand that your competitors are not necessarily from your own industry or the obvious ones, you will begin to understand that you need to look at your business with ‘beginner’ eyes.

What do I mean?  Let me use the example of Nokia. Nokia was building phones, which they were excellent at and they were seen as one of the most valuable companies in the world, until a computer company, Apple, built computers that can phone. They did not disrupt themselves, even though they had the technology. Many other examples exist.

How you change is how you succeed

So back to my topical question; is planning outdated?

I would say no, planning is not outdated, but the way we plan is. Plan to grow a purpose-driven organisation. This means that you and your staff have a higher purpose and vision of how you will have an impact on the world and its people. With the understanding of this purpose, plot out the vision and what needs to be done to achieve it.

Although you cannot plan too far ahead, because of how quick things are changing, I believe that you will see the opportunities because your business has a purpose over chasing profits and you will do the right thing.  

When you plan for 2017, keep these 4 actions in mind and go on and create your best life.

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About the author

Hilda Lunderstedt

Hilda Lunderstedt is one of the selected few South African female entrepreneurs who achieved phenomenal success in starting, growing and selling a 9-figure company in less than 10 years, Hilda is excited about businesses who will make a huge difference to the world and improve the planet, in the future.

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