5 reasons why strategic planning is essential for entrepreneurs

by Ana Lopez

Opinions of contributing entrepreneurs are their own.

I have a good friend who hates making plans. Our small circle of colleagues jokingly refer to him as ‘Houdini’, as he will seemingly do everything in his power to prepare. For example, when it comes time to detail our annual group vacation, he’ll come up with the most unlikely of excuses not to participate. “I’d rather go with the flow,” is the reliable answer.

I’m sure we all have someone like that in our lives – someone who leaves a lot for the last minute. And I can understand that desire for spontaneity. In 2006, when I founded my startup, Jot shape, I vowed never to get so caught up in strategic planning that I forgot how to live without it. Of course, I was a new businessupdates.org at the time and had a lot of untested ideas about how to run a business. Now I know better and have understood that, as leaders, the key to success is not only planning, but also strategic.

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