I’ve always found the saying “when you fail to plan, you plan to fail” pretty doggone convincing.  Maybe it’s just the profession that I’m in, but it seems to be accurate across the board.  And it’s not just relegated to the financial aspects of a business… the adage is appropriate for marketing, hiring, sales, management, and more.

So why do so many people fail to plan?  I think the reasons are sometimes complex, but it probably boils down to one word:  Time.  (Or, more accurately, what professionals believe is their lack thereof.)

Too many business people seriously believe they do not have the time to develop a thorough plan or to “worry” about such things as internal audits.  When they finally recognize that they’ve been lax, their problems (which could have been prevented by planning ahead of time) have multiplied.  And that’s often when virtual CFOs or CPAs like me are called into the picture. 

(NOTE:  Don’t get me wrong — I love to work with clients, even when their situations are complicated.  It’s just a little frustrating when I realize how easy it would have been for them to be in a much better position if they had only focused their energies on planning instead of immediately “doing”!)

Wouldn’t it be wonderful if more business owners called financial management pros BEFORE the crisis point?  If they spent just a little time upfront planning and strategizing, they’d eliminate many problems down the road.

So… are you ready to plan or ready to accept failure as a penalty for not making “time” to plan?