When I ask this of a financial institution, I usually receive balance sheets and risk reports. Most people immediately think ‘numbers’ when you mention planning. I challenge you to think differently, think communication. Tell me about your business.

Because planning is a verb I instantly visualize people; a coach, a team of players and supporting staff. To plan you must set goals, develop clear action plans and communicate them throughout the organization.

Sounds easy, and when we first sit down to create a new plan, it is. Just like writing on this topic started out easy, but I’m finding it much harder editing its content. Many clients find it is easy to overlook small or tactical changes through the year. Just because the plan re-calculates, one can have the mistaken impression that that the plan is self-sustaining. People create ideas, not the software.

A successful organization has all its employees and shareholders engaged in the activities that will keep it successful. You can keep your plan alive and well, by talking about your business. Create action plans and document tactical changes throughout the year. Now, share those strategies! Tell and re-tell your plans to your employees and your board. Examiners are especially pleased when met with a well-documented and communicated action plan. Tell them about your business.

So, how can you make this work? It’s easier than you think. Just start documenting.

All Plansmith models include the capability to document your action plan. ‘Notes’ are available at each account level to document tactics and changes throughout the year. In addition, BankersGPS includes a ‘Notes’ option for each of its Stress Test Reports.

Try something different this month before changing numbers; document your ideas or actions first. List the date, what the action is, who will be involved, and what the anticipated results are. Then test those decisions with financial evidence to support or deny the action. This becomes your action plan.

Reports that combine numeric analysis, visual graphics and written explanations are the most powerful. By combining all three you have a much higher likelihood of communicating objectives clearly to a variety of people.

Tell them about your business.