Identify the right information

Let’s go back to our sailboat captain, the one who knew how to plan, to find a useful analogy for identifying the right information for a business planning process. Our captain knew that before he took to the seas he should collect information about tides, weather, sea lanes, and crew availability. Only when he had all this interrelated information could he properly set his destination and the strategies to get there. And he used a robust planning process that allowed him to make effective changes to his plans when the conditions changed.

For any business, there likewise are types of information that owners should collect in order to set the right strategies and goals. And the process of collecting this information, ...

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