It is very important for businesses to know where they are going. The key component of direction is planning. A detailed business plan becomes a road map of where you need to go. By breaking down the plan into stages, one can see the direction you are heading. Each stage can be equated with a specific period of time. Stage one can be for one year. You establish goals and milestones out to 5 years.
This planning helps you with decision making as you know where you want to be in 5 years. Thus, you can determine if the decision you are about to make today, moves you in the right direction or not. Lacking a plan is like driving without a destination. You could just keep driving and where you end up could be somewhere you do not want to be.
Planning helps you reach your goals and ultimate success in the most direct way possible.
