29: Don’t spend time arguing the plan, spend time hitting it

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In any business there is a forward plan lurking somewhere, and someone working on it. Famously at many successful companies nobody worked on forward looking plans for the first years[1] but at a certain point, if you achieve a certain scale, you need a plan. Plans are necessary to allocate resources but also to appraise performance. How do you know who did best for the company? They also help to shape resource allocations - unless they become a major distraction.

The problem with forward looking plans is that they are human made. They tend to look at the past, add together assumptions and wishes about the future and come up with one reality, out of a million potential ones. This reality does not, and cannot, consider what the competitors are planning in the same moment (likely working on their forward-looking plan which does not factor in what you want to do) and tons of other known unknown variables (and unknown unknowns, read pandemic). Mike Tyson said it all[2].

I do hope that, sooner rather than later, GAI will take over target setting using collective experience, externalities, capabilities, economic outlook, competitive intensity, real resources allocated and come up with a number that is realistic and challenging. In a 10 minutes effort.

Until then, to dedicate an inordinate amount of time to discuss the last 1% of a plan looks pointless, especially the further in the future the plan goes. Every second would be better used in thinking on how to deliver it, or better yet, to start delivering it.

Some prefer to focus time and energy on internal debates which, even though not pleasant at times, are for sure gentler than facing a customer who wants to know how you will make their business better. So, if in doubt, put your precious time on delivering the plan and growing the business rather than arguing the last decimal. It might not be good for your career (successful managers tend to be exceptionally good at negotiating plans which are easy to deliver) but it is certainly a better use of your professional skills for your company, especially if the plan is particularly 'ambitious'!

[1] Some examples of companies that succeeded without a business plan https://retireat21.com/entrepreneurship/billion-dollars-without-plans .

[2] Mike Tyson is widely credited with saying "Everybody has a plan until they get punched in the mouth" during an interview with a reporter before his fight with Evander Holyfield in 1996. The quote was his response to a question about whether he was worried about Holyfield's fight plan. Tyson used the phrase to illustrate that theoretical plans can quickly fall apart when faced with the realities of a challenging situation.