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| New Year’s Planning – Critical Success Factors |
Whatever time of the year it is, you have probably set a working direction for the rest of the year, including clear-cut objectives. Your first-iteration plan to reach them should be in place. This now (whatever time it is – if you are thinking about it) seems like an ideal time to rethink the whole thing. In our sped-up 21st century world, plans are subject to change just as soon as – or perhaps even before – they are written.
If you haven’t already done so, now is an excellent time to review your company’s year-end results and plan for the coming year. If you’ve already created your annual plan, you may want to look at it in a new light.
A typical approach to planning suggests multiplying last year’s quantitative results by an acceptable growth factor. Industry standards vary, often from 5% to 25%. Add to that number scheduled enhancements to your product line plus solutions to critical problems you’ve been meaning to address, and that’s your plan.