Planning is the ability of an individual or organization to comeup with an idea or the way of doing or dealing with situation theoritically and implement it practically to produce an outcome.
Planning is carriedout in all aspects of life, you have to plan everything let's specialise in finance where it helps in generating designs, means of acquiring capital, possible means of solving business problems and many others.
When investing your money or whatever you want to do planning is one of the major aspect of success if done accordingly it results into production of quality results.
When carryingout this first activity of success this are the major areas you have to focus on.
1. Comeup with your idea, this indicates what you want to do you can't plan what you don't know find an idea first.
2. Summerise the benefits of investing in that specific plan, point out the level of profitability because not all plans have many benefits so get an idea that gives you what you want.
3. Ensure you analyse the risks involved in your business idea, it gives you a clear view of a business future
4. Spot the problems affecting your competitors and their products carefully and solve them , this is very critical in business advancement
5. When planning remember to note down all your objectives this helps you and motivates one to achieve them.
6. As you plan one of the major problem is financing your idea, technically this is the hardest part in business or any other activity so as your planning put enfferses on financing the idea because without it your idea will never work.
7. Identity your abilities, planning in an area you have qualifications in or well skilled or talented in gives you much progress
8. Never follow common routines with a well determined motivated mind you can create your own means of manufacturing, designs, complicated managemental systems such needs great planning and trails but it yields great benefits and gives you standout of others.
9. If you notice you can't generate ideas and plans but have some capital hire a well trained financial and business planner.
Usually people think in different ways that's why their are very many Technologies and products this determines how far your thinking capacity can reach
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