When Planning Matters Most
It seems hard to believe but it wasn’t that long ago when one of the most compelling features of the printing industry was its stability. Not that it was ever an easy business, but it was far more predictable. In a recent conversation with a long-time company owner, he recalled a time when adding new capabilities and new equipment resulted in added sales. “That’s about all we did. No new salespeople, or marketing plan. Nothing changed except we added equipment. And sales grew.” If only.
Keeping up with emerging technology still matters but that alone is no assurance of growth, profitability or even business continuity. Today it takes more.
That’s why the most forward-thinking business leaders are re-dedicating themselves to the discipline of strategic business planning. Utilizing a structured, rigorous process that filters out the noise and distraction and enables you and your team to focus organizational resources in the right direction can accelerate the distance between you and your competitors. This is especially so during a time of rapid change and uncertainty.
Against the backdrop of a historically difficult operating environment, leading organizations are taking advantage of the uncertainty that can paralyze their competitors. For many, these changes are resulting in a “wait and see” attitude and a “when things get back to normal” approach. Others busy themselves collecting more data, more information, which in the aggregate, only adds to the complexity and confusion. The result? Too much data, not enough knowledge: too much information, not enough effective wisdom.
What is needed instead is a value-creating approach to planning your company’s future growth.
Whether undertaken by two owners sitting across a desk from each other talking about what to do next, or a group of senior level managers looking to develop and execute on a workable strategy, a thorough, focused planning process is just the ticket to a bigger, better future.
Given today’s competitive pressures and continuous change, companies that neglect to plan their destination are likely to face a future with disconnected decisions that drag them further away from value-creating solutions.
Conversely, companies that strategically plan for a future that anticipates and takes advantage of change will achieve enduring success with customers who place a premium on communication solutions that provide unique and lasting value.
For more information on how your company can capitalize on emerging needs in rapidly changing environment, visit ajstrategy.com or contact me at firstname.lastname@example.org.
Joseph P. Truncale, Ph.D., CAE, is the Founder and Principal of Alexander Joseph Associates, a privately held consultancy specializing in executive business advisory services with clients throughout the graphic communications industry.
Joe spent 30 years with NAPL, including 11 years as President and CEO. He is an adjunct professor at NYU teaching graduate courses in Executive Leadership; Financial Management and Analysis; Finance for Marketing Decisions; and Leadership: The C Suite Perspective. He may be reached at Joe@ajstrategy.com. Phone or text: (201) 394-8160.