Planning Provides A Bias To Success

Planning is three parts and you must have a way to satisfy each component.

The three parts are strategy, tactics and logistics.

Strategy is about identifying what you want, what you have to get it with, when you need it, who is involved, where are you going to do it and why this arrangement.  The five “Ws.”  Strategy is meant to focus your attention and provide guidelines as to what you could and would do.  Choices.  Many people fail because they lack the focus.  Trying to do everything brings the same result as doing nothing.

Tactics are the “How?” questions.  The methods that impose your time, effort and resources on your preferred tasks.  Tactics sometimes include prepackaged answers that you could buy.

Logistics is the mountain of tiny details that you overcome to put a tactic into force.  Wanting a will and knowing the one you want is useless unless you implement.  The same is true for budgets, financial plans, ongoing education or professional development.

Planning is forever.  Review and revise your activities from time to time.  Set new goals as you achieve earlier ones.

Success is never guaranteed, but you have a better chance if you follow a procedure that has an internal bias towards success.

As Nike says “Just Do It.”

Contact: don@moneyfyi.com  

Don Shaughnessy is a retired partner in an international public accounting firm and is presently with The Protectors Group, a large personal insurance, employee benefits and investment agency in Peterborough Ontario.

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