The 20-Year Plan – Updated Annually

person holding silver retractable pen in white ruled book
Photo by Ylanite Koppens on Pexels.com

I was blessed to have worked in the Long Range Planning Department of a very large corporation.  The company had a 5-year plan and a 20-year plan.  Now one may think a 20-year plan would stay in place for 20 years-hence the name.  However, each year both of those plans would be revised.  As new information came, the plan would be revised.

One of my bosses in the Planning Department was getting ready to retire.  He purchased a brand new car as part of his personal Plan.  He knew after retirement he would not have as much money and wanted reliable transportation that would last a few years.

Seeing, by his example, the 20-year Plan could be adapted for personal use was a good lesson in life for me.

Understanding Plans were made to be changed, as needed, made me less fearful of creating a budget or writing out my Plan for success.   Until one begins to implement a plan and test it, it is just an idea that may or may not work.  It is important to document what works well and what does not.  This plan may be for something personal or for business.

Example:  when I started my business I tried some marketing that did not work.  I purchased  and gave away 300 pens with my business name and phone number.  No one ever called me and said they got my number from the pen.  Maybe that works for other companies.  It did not help mine except as a tax write-off.

My business has succeeded because I learned better marketing techniques from networking groups.  Redirecting my marketing dollars to a networking group is a better Plan for me.

The 20-year Plan has also helped me in my personal life.  I once impulsively purchased a dark maroon sofa.  After I year I did not like the color, but it was expensive.  So I lived with it for 10 years.  This year I bought a new sofa I plan to keep until one of us wears out.  I picked a more neutral color in a sturdy material.  I can accent it with inexpensive pillows I change seasonally.  Happy to say:  no buyers’ remorse this time because I planned better.

When I talk about my Plans with people I trust, I often get good ideas which I add to the Plan.  Do you need to make a Plan for your small business or your personal life?  Discussing that Plan with others may help you discover the best way to implement your Plan and achieve your goals.

 

 

 

 

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