Module 3: Strategy Planning for Profitability.

This lesson is called Strategy Planning for Profitability.

“Peter Drucker said action without planning is the cause of every failure.”

If that\’s true, then action preceded by planning must be a major reason for success.

> Rule. There\’s a rule that says before you do anything, you have to do something else first.
The first thing you have to do in business is to plan and plan again and keep planning until your plans work consistently to get you the results you want. The major reason for business failure is

  • first failure to plan in advance, and
  • second, failure to revise your plans if they do not work for some reason. Failing to plan is planning to fail.

What is the highest paid work in a business? Answer: Thinking. Thinking is the highest paid work because of a special factor called consequences. You can always determine how valuable and important something is by measuring the potential consequences of doing it or not doing it. The potential consequences of having a cup of coffee or chatting with a coworker are virtually zero. It does not matter at all whether you do them or not. But the consequences of planning of thinking through your actions before you begin can be enormous. They can make all the difference between success and failure. Poverty and wealth, happiness and unhappiness. A life of affluence or a life of despair.

Everything you are ever will be is the result of your choices and decisions. Your choices and decisions have brought you to where you are today. If you\’re not happy about your current situation, then you must make new choices and better decisions for the future. There\’s no other way, and thinking is the essential ingredient in both choices and decision-making.