The Power of Planning

In 1952, three percent of the graduating class of Yale University responded "yes" to a survey asking if they had written goals. Twenty years later, the net worth of those three percent was greater than the combined net worth of the other 97 percent of their class. This illustrates the point that the first step in achieving success is having a written plan.

Begin your business plan by writing out your objectives for the coming year. Include your goals (how much do you want to make in 2009?), any foreseeable obstacles to those goals (a cooling real estate market) and possible solutions (increase your visibility in your community).

Mapping this out will help you focus on achieving your goals and help you to be more prepared for any setbacks.

For the plan to be effective, your daily actions need to reflect what is written in your plan, which in turn reflects your goals. In the daily competition for market share, the successful professional is the one who knows his or her goals and exactly how to achieve them.

Don't just hope this year will be different, plan for it.