Why it pays to plan

It’s been a year this week since I first registered Ginger Sky Ltd and set out on my mission of creating a retailer of unique, quirky and fun kitchen accessories. I’m getting close to launching the site and starting to trade but as this is my first venture into business I have spent the past year planning every part of my company.

For me, planning means that when I start to trade I have as many bases covered as I can. There can always be surprises around the corner but having sound contingency plans ready means that I should be able to respond effectively to these challenges. These contingencies have been thought through following research into other local businesses, speaking and networking with other business people and learning from their experiences.

Planning also means that I can effect and shape as much of my business as is possible. When there are multiple options of where I can take Ginger Sky, planning helps me choose the best direction based on my vision for the company and the opportunities available. Fully thinking through each option available means that I can weigh up all the pros and cons before making the right decisions.

In business though you don’t always have the luxury of fully planning every decision you make. Once Ginger Sky starts trading I know that there will be occasions where I need to act quickly to changing conditions. Although I do have contingencies ready there will also be times when situations could not have been foreseen. I know that on these occasions I will have to go with my gut, but with planning I can limit the number of times this will happen as the chances of making the right choice is significantly increased through effect planning.