It is planning season when management teams work to develop the roadmap for the coming year.
The truth is that it is hard to do more than two or three big things at a time, no matter how large you are.
So it is important to put all of the things that the business needs or wants to do on the table and have a vigorous debate about them and then pick a few priorities to focus on.
Saying no to things that you really want to do is the telltale sign of a good planning process. Saying yes to too many things is the telltale sign of a poor planning process.
What makes this process particularly hard is that there are often a few things that the business has to do and there is no way to delay them. These must do efforts can often crowd out the should do projects and that leads to a lack of forward progress.
The lens through which I evaluate plans is as follows. First there should be a few well defined priorities. I like two or three but four can work. Five starts to be a problem. At least one and possibly two should be must do things the existing business requires and cannot be put off. And there should be at least one big new effort that will move the business forward.
Planning is so important. When you get the plan right, execution becomes so much easier. I have found that poor execution is most often a function of poor planning and trying to do too much without clear priorities. Even the strongest operators struggle in a situation like that.