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  • 5 Important Differences Between Short-Term vs. Long-Term Goals

    5 Important Differences Between Short-Term vs. Long-Term Goals

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    There might be affiliate links on this page, which means we get a small commission of anything you buy. As an Amazon Associate we earn from qualifying purchases. Please do your own research before making any online purchase.

    How do you define “success” in your personal and professional life? Where do you see yourself in ten years? 

    Setting goals is an essential and powerful tool for accepting control of your life and positioning yourself in the right direction toward where you want to end up.

    One of–if not the–most important components to your success is effective planning, which should lay out each step you intend to take to make your ideal life into a reality. Having short- and long-term goals helps you align your actions and resources with your vision for the future.

    If laid out properly, your goals will ensure that you reach your full potential and achieve the success that you want in life because they will maximize your performance and give you the ability to evaluate your progress along the way.

    Without goals, you’re essentially wandering aimlessly through your life. And without taking concrete steps to reach your goals, you’re awaiting dumb luck to get you to where you want to be.

    Those who are successful in life understand the power of creating goals and breaking them down into a series of smaller objectives that will help you maintain focus and motivation.

    Quotes about Goals, Getting Started, and Investing Time in Your Dreams - “No desired achievement is gained without any goal setting.” – Wayne Chirisa | achievement quotes | inspirational quotes | motivational quotes

    That said, having only short-term goals without any long-term goals is not an effective way to become successful. Without having long-term goals to give you a clear sense of direction, your short-term accomplishments won’t really add up to anything significant. 

    Knowing the difference between short- and long-term goals can help you navigate from where you are now to where you want to be in the future, illustrating marked progress along the way.

    Part of being a great visionary is knowing how to establish and work toward specific short- and long-term goals in order to live your life on your own terms. 

    In this article, we will look at the distinction between short- and long-term goals by defining each, looking at some differences between the two, and then analyzing why it is important to have both in order to be successful.

    What Is a Short-Term Goal?

    A short-term goal is something you want to accomplish relatively soon–anywhere from finishing the task by the end of the day to completing it several months from now.

    These goals bridge the gap in a specific and measurable way from your current situation to the next step toward achieving something bigger.

    Most of your short-term goals are stepping stones to reaching a long-term goal much further down the road. These smaller, manageable goals help you make continuous progress toward those life-changing visions that you want to reach. 

    You need to have short-term goals to make headway in your life, whether it’s just one or several of these smaller goals that build on each other to bring you closer to your vision for the future.

    In other words, your short-term goals will work together to make considerably larger and more complicated goals workable as they provide a step-by-step plan to be successful. 

    Some examples of short-term goals include:

    • Lose 5 pounds in the next 5 weeks
    • Complete an ongoing work project at least 24 hours before its deadline
    • Earn an A- or better on an upcoming exam at school

    To see more examples, read our article on short term fitness goals to help you achieve the level of health you want.

    What Is a Long-Term Goal?

    Long-term goals are those that you envision achieving in the distant future. They can’t be accomplished by tomorrow–or even by next week. Your long-term goals are your big dreams that give you a sense of direction and purpose in life.

    They often define your values and intentions for the future. (Future self journaling can help you visualize your long-term goals better.)

    A good way to identify a long-term goal is to analyze whether or not it will require any of the following:

    • Deliberate planning
    • Commitment
    • Hard work
    • A significant amount of time

    Long-term goals are not easy to accomplish, rather, they require a balance of careful planning and steadfast perseverance. These goals customarily involve multiple steps, which is why having short-term goals is intrinsically necessary to realize your long-term goals. 

    Because your long-term goals aim to ensure you reach your full potential, they often take several aspects of your life into account such as your personal life, relationships, and financial factors.

    Do you have the money you need to gain the necessary resources to meet your goal? Do you have the responsibility of having a family that may be impacted by your goal? All of these things must be considered.

    When setting your long-term goals, it’s perfectly fine to make them grandiose. As a matter of fact, some people think “the bigger, the better.” The only issue is that, at face value, your long-term goals probably seem overwhelming.

    For example, let’s say your goal is to lose 100 pounds. Where do you start? How do you get from where you are now to this ideal state? The answer is the same for any goal: one step at a time. Your short-term goals determine how you initiate making your aspirations become a reality. 

    Some examples of long-term goals include:

    • Lose 75 pounds by this time next year
    • Earn a promotion to a management position in the next 18 months 
    • Get accepted into my #1 choice of universities in March of my senior year of high school

    For more examples, the video below provides a quick overview of SMART goals and then show three examples for each of the seven areas of your life.

    5 Differences Between Short- and Long-Term Goals?

    In short, the difference between these two types of goals is the amount of time and resources it takes to accomplish each. While a short-term goal could be completed within days, a long-term goal could take several years to achieve. 

    For example, your long-term goal may be to run a marathon, while your short-term goal could be to simply run one mile without stopping, which would be considered to be a stepping stone to realizing your long-term goal.

    Let’s look at some more specific differences between these two types of goals that can help you further understand how each is important in its own way. 

    1. Strategy

    Long-term goals are intrinsically strategic, which is why they shape the direction of your life. They take a lot of strategizing and planning in different areas of your life in order to achieve.

    Your success in meeting your long-term goals is a reflection of how well you’ve been able to live in line with your values and abide by your personal mission.

    On the other hand, while short-term goals also require some strategizing, they’re more of a reflection of your current performance. This means that your strategy is largely based upon how close you are to realizing your ultimate goal.

    Where are you right now on your journey? Are you trying to finish that first mile without stopping or have you already qualified and signed up for a half-marathon?

    Once you meet a long-term goal, you will be able to easily look back and recognize the importance of establishing and surveying your short-term goals to make progress.

    2. You Can Work on Multiple Short-term Goals Simultaneously

    While you may possibly have two long-term goals in mind, one personal and one professional, you can be working on several short-term goals at the same time.

    While the short-term goals you’re working on may overlap or have something to do with each other, they may also not be connected at all.

    For example, your long-term goal is to pay off your mortgage in the next seven years. Some short-term goals that you could be working on at the same time could be:

    • Putting 10% of every paycheck toward the principal of your mortgage
    • Save money on frivolous items such as coffee from the cafe in the morning by making your own at home
    • Researching methods of making some extra money in addition to your main source of income
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    Many struggle with maintaining motivation and staying focused on their long-term goals.

    And, if you also have a goal of meeting your spouse in the next 18 months, a short-term goal that you could be working on may be to create an online dating profile. This has nothing to do with paying off your mortgage, but you can focus on both simultaneously.

    3. Motivation

    Many struggle with maintaining motivation and staying focused on their long-term goals because achieving them seems so far off into the future.

    On the contrary, it can be easy to stay motivated while working toward a short-term goal because you can see quick progress, which can help you stay driven until the goal has been completed.

    This is why having short-term goals is so important–it helps give you the sense of gratification that you need to keep going, so you’re not left feeling like you’re not making progress or you’re lost on your journey. 

    4. Flexibility

    Your short-term goals should be created with a finite deadline and should be the easiest to accomplish as they require the shortest amount of time to complete. Because of this, they’re fairly inflexible.

    If you have a short-term goal of achieving an A- on an exam, you’re unlikely to change that to a B- somewhere along your journey of preparing for the test. 

    Alternatively, sometimes you have to roll with the punches with your long-term goals. As your life circumstances change, your goals may change as well.

    For example, let’s say your #1 choice university is on the other side of the country and at the start of your senior year of high school, one of your parents is diagnosed with a terminal illness. This may change your goal so you can be closer to home while getting your college education. 

    You may also find as you’re completing your short-term goals that your passion or vision for your life is changing. Many people start with one career only to realize it actually isn’t right for them, sending them back to square one.

    In this regard, having short-term goals is beneficial to recognize whether or not you’re still enthusiastic about where you’re heading.

    5. Time

    By definition, your long-term goals are going to require more time to complete than your short-term goals. Depending on your goal, “short” and “long” can be relative.

    A long-term goal could take a year (get a promotion) or several years (get married and start a family). But no matter what your ultimate goal is, your short-term goals will take a fraction of the time that it will take to reach your long-term goal.

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    Your long-term goals are going to require more time to complete than your short-term goals.

    Why Do You Need Both Short- and Long-Term Goals?

    We’re clear that on your journey to reaching your long-term goals you will have to complete many short-term goals. In addition, in order to reach your short-term goals, you will need to break things down even smaller by creating objectives. 

    For example, if your short-term goal is to lose 5 pounds in the next 5 weeks, some daily objectives may be to drink only water, replace your normal dessert of ice cream with some fresh fruit, and bring a salad to work to eat for lunch instead of going out to eat with your co-workers.

    These objectives that act as daily goals will lead you to success, and if you follow your plan closely, you’re almost guaranteed to accomplish your long-term goal.

    Final Thoughts on Short- vs. Long-Term Goals

    Having both short- and long-term goals will help you be successful in your personal and professional life. Your short-term goals help you manage your time as you consider the things that you can do right now, and while they may seem small, completing them accumulates to much bigger accomplishments. 

    A great way to prioritize your goals is to establish your long-term goals to define your purpose and then create your short-term goals to provide you with a roadmap to fulfilling this purpose.

    If you focus on your short-term goals and complete them in a timely manner, it will help you maintain the momentum you need to achieve your long-term dreams.

    If you’re not sure if a goal is for the short or long term, learn more about creating intermediate goals or medium-term goals.

    Finally, if you want to take your goal-setting efforts to the next level, check out this FREE printable worksheet and a step-by-step process that will help you set effective SMART goals.

    Connie Mathers is a professional editor and freelance writer. She holds a Bachelor’s Degree in Marketing and a Master’s Degree in Social Work. When she is not writing, Connie is either spending time with her daughter and two dogs, running, or working at her full-time job as a social worker in Richmond, VA.

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    Connie Stemmle

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  • Vision Board Checklist (Free Printable Download)

    Vision Board Checklist (Free Printable Download)

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    There might be affiliate links on this page, which means we get a small commission of anything you buy. As an Amazon Associate we earn from qualifying purchases. Please do your own research before making any online purchase.

    Vision boards are one of the most empowering tools available when it comes to setting plans and reaching dreams. They set your mind on the right track, removing all unnecessary distractions and opening up opportunities to accomplish your goals.

    But to make all these things possible, you need to know the best materials for creating an effective vision board. Fortunately, we have put together a comprehensive supplies list to help you on your way.

    Let’s check it out!

    Free Printable Vision Board Checklist

    1. Display Board

    A display board is the foundation of your vision board. It is where you will be pasting, taping, and pinning all the important symbols of your dreams. There are many kinds of display boards, and they come in different sizes, colors, and materials.

    2. Cutting Tools

    Your cutting tools can include either a scissors or a cutter, although we recommend you have both. You may also want to purchase a craft knife to help decorate your display board. You might also enjoy using decorative scissors for your paper-cut designs.

    3. Glue

    Most people use white glue when creating their vision boards—particularly for long-term goals. For short-term goals, you might want to use tape instead, as it is easier to replace with new short-term goals. You may also use pushpins, magnets, or putty, depending on what type of display board you have.

    4. Adhesive Tape

    There are several kinds of tape you can use for your vision board. Some are plain and have one color (best for minimalists), while others are covered with designs and figures.

    5. Markers

    Markers are used to design the words on your vision board. There are many kinds of markers, and you may want to have one of each type.

    6. Stickers

    Stickers are like adhesive tape in that they add a personal touch to your vision board. There are many available stickers out there to choose from.

    7. Inspiring Quotes

    Vision boards are designed to make you feel more inspired and motivated, so we recommend adding handwritten quotes or using quote stickers to make your board more stimulating.

    8. Magazine Cutouts

    Creating a vision board is a lot like designing a scrapbook filled with cutouts and crafts. Don’t stress yourself out looking for pictures on the Internet and then printing them out—just browse through your old magazines at home and see which ones best fit your vision board.

    To make things easier, here is a downloadable and printable checklist of the supplies you need to start your vision board right now:

    • Display board to serve as the foundation of your vision board
    • Cutting tools (scissors, craft knife, decorative scissors) to cut your papers and magazines
    • Glue to keep everything on the board
    • Adhesive tape to add design and a more personal touch
    • Markers to write whatever you want to include on your board
    • Stickers to add a bit of color and soul to your board
    • Inspirational quotes to keep you motivated and remind you of your goals
    • Magazine cutouts to supplement all the other designs you have

    Download Your Free Copy of the Vision Board Checklist

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    Final Thoughts on Vision Board Supplies

    It is helpful to know the best supplies when setting out to create your vision board, and it is also important to understand that everything is connected.

    For example, you have to determine what type of display board you want to use first (e.g., corkboard, whiteboard, poster board) in order to know what kind of adhesive materials you will need.

    Since you are putting a lot of effort into creating an effective, beautiful vision board, you might as well choose the best materials. Good luck on your vision board journey!

    And if you’re looking for more resources on making effective vision boards, be sure to read these articles:

    Finally, if you don’t know how to get started with this strategy, then check out this FREE printable worksheet and a six-step process that will help you create the PERFECT vision board.

    vision board checklist pdf | free vision board checklist | vision board examplesvision board checklist pdf | free vision board checklist | vision board examples

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    Jessa Pangilinan

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  • Nike shares dive, company eyes $2 billion in cost cuts amid 'softer' outlook

    Nike shares dive, company eyes $2 billion in cost cuts amid 'softer' outlook

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    Shares of Nike Inc. tumbled after hours Thursday after the athletic-gear giant warned of a “softer second-half revenue outlook” on its quarterly earnings call, and said it is targeting up to $2 billion in cost cuts over the next three years as it looks to shed management and focus on women customers and its Jordan brand.

    Nike
    NKE,
    +0.91%
    said that the savings could come from simplifying its product selection and using more automation and technology. But the athletic-gear giant has also reportedly begun to lay workers off, and said it expected to book pre-tax restructuring charges of around $400 million to $450 million, much of it in the company’s fiscal third quarter, “primarily associated with employee-severance costs.”

    Nike did not immediately respond to questions about job cuts at the company, or how many staff have been or could be laid off. But on the company’s earnings call, management said its plans included “reducing management layers.”

    In Nike’s earnings release, Chief Financial Officer Matthew Friend said the company’s fiscal second quarter — in which per-share profit beat expectations while sales were roughly in line — marked “a turning point in driving more-profitable growth.”

    But investors appeared skeptical after hours on Thursday, as shares slid more than 11%.

    Nike announced the cost-cutting drive as clothing and shoe brands try to steer through weaker demand overall and a broader price-cutting battle in retail stores for inflation-battered customers. Those customers have had to set aside more money to cover the costs of ever-pricier essential goods, at the expense of things like sportswear and sneakers.

    “We are seeing indications of more cautious consumer behavior around the world in an uneven macro environment,” Friend said during the call.

    Nike executives said consumer demand was strong through the back-to-school season, Black Friday and Cyber Monday, but lagged in between. Demand wobbled online, and in China and Europe.

    They also said that the money they planned to save would be reinvested into helping Nike become more nimble and more responsive to consumer preferences, after years of shifting away from selling shoes and gear through traditional retail chains in favor of doing business through its own stores and e-commerce channels. They added that those efforts “added complexity and inefficiencies” as competition grew steeper.

    Chief Executive John Donahoe said on the call that the Nike-brand women’s segment was already a $9 billion business. But he said new products — like bras, leggings, retro-themed running shoes and other offerings that span both sports and lifestyle — would help draw more women customers.

    Within the Jordan category, Donahoe cited opportunities beyond basketball sneakers. Clothing and golf-, soccer- and football-related products, along with offerings targeted toward women and children, would also help drive growth, he said.

    But for the rest of its fiscal year, Nike’s expectations were dimmer. The company said it forecasted “slightly negative” sales growth for its fiscal third quarter. For its fourth quarter, executives expect low-single-digits sales gains. And they said they now anticipate Nike’s full-year sales to increase around 1%, compared to an outlook in September for mid-single-digits gains.

    In its fiscal second quarter, which ended on Nov. 30, Nike reported net income in the period of $1.58 billion, or $1.03 a share, compared with $1.33 billion, or 85 cents a share, in the same quarter last year. Revenue rose 1% year over year, to $13.4 billion.

    Analysts polled by FactSet expected adjusted earnings per share of 84 cents, on sales of $13.39 billion.

    Gross margin rose to 44.6%, helped by price increases and lower costs for ocean-freight shipping.

    Outlooks this year from athletic-gear retailers like Foot Locker Inc.
    FL,
    +1.89%
    and Dick’s Sporting Goods Inc.
    DKS,
    +0.78%
    have also been cautious, and Nike has faced competition from the likes of Adidas
    ADDYY,
    +1.01%
    and On Running
    ONON,
    -1.05%    .

    Nike management also said in their previous earnings call in September that they aimed to do more to attract women and running-shoe customers. However, they noted that demand for the company’s products remained solid and they were “cautiously planning for modest markdown improvements for the balance of the year,” as the company tightens up its supplies of sneakers and clothing in stock.

    On Thursday’s call, executives said that demand for higher-priced products had been “resilient,” and that they didn’t have to cut prices as much as their rivals. And they said new releases — like the Sabrina 1 and Luka 2 sneakers — were the best way to stand out in a sea of discounts.

    “We know in an environment like this, when the consumer is under pressure and the promotional activity is higher, that it’s newness and innovation which causes the consumer to act,” Friend said.

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  • How to fill out a personal tax return for 2023 – MoneySense

    How to fill out a personal tax return for 2023 – MoneySense

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    • The basic personal amount
    • The age amount
    • Amounts for spouse and dependents
    • Adoption expenses
    • CPP and/or QPP contributions
    • Employment insurance premiums
    • Home buyers and home accessibility amounts
    • Digital news subscription expenses
    • Tuition/education/textbook amounts (complete Schedule 11)
    • Medical expenses
    • Donations and gifts (fill out Schedule 9)

    Part C, Net federal tax:

    There are more opportunities for tax reductions in this section, including the common dividend tax credit and the less common minimum tax carry forward on split income and political contributions tax credits. The advance received on the Canada Worker’s Benefit by lower income earners is also recorded here.

    Step 6: Refund or balance owing

    You’ve reached the final stage where you’ll find out whether you will receive a tax refund or if you owe taxes. If you are self-employed, remember to add payable CPP and EI premiums here. The social benefits repayment on EI or OAS also appears here. Finally, provincial taxes computed on provincial tax forms will be added.  

    Now, onto the top of the last page of the T1 General form. This is where you enter the income tax deducted from your various slips and claim your final set of applicable tax credits, overpayments and rebates. This can include some provisions that really add up to reduce taxes or provide a bigger refund, including overpayments to the CPP and EI, the Canada Workers Benefit, the Canada Training Credit, the eligible educator school supply tax credit, and so on. Seniors, self-employed and other Canadians subject to making quarterly tax installments will also want to record the money paid to reduce their tax bill. Finally, available refundable provincial tax credits are reported.

    If your total credits exceed taxes payable, you may receive a tax refund. Specifically, if you have a negative amount, enter it where indicates you have a refund. If you have a positive amount, enter it on the line that indicates you have a balance owing.

    Once you file your tax return, if you owe any taxes, you can pay online using online banking, credit card or pre-authorized debit.

    If you’re expecting a tax refund, you should receive it within two weeks if you filed online, eight weeks if you filed by paper, or 16 weeks if you live outside of Canada or file a non-resident tax return. If you sign up for direct deposit, you will receive your refund faster than waiting for a cheque in the mail.

    Obviously, every Canadian’s tax situation is unique to them and to every year they file. So, if you’re ever in doubt, it’s a good idea to seek out a qualified accountant or a tax professional who can verify that your tax return is completed properly. Tax software can double-check for any missing information and catch many errors. But it can’t always apply for new provisions you haven’t told it about or represent you in case you are audited by the CRA.

    Step 7: Review your NOA

    It can take up to two weeks to receive a Notice of Assessment (NOA) if you file electronically. However, it can take up to eight weeks to receive your NOA if you file by paper.

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    Sandy Yong

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  • A Goal Without a Plan is Just a Wish: 3 Lessons for This Quote

    A Goal Without a Plan is Just a Wish: 3 Lessons for This Quote

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    There might be affiliate links on this page, which means we get a small commission of anything you buy. As an Amazon Associate we earn from qualifying purchases. Please do your own research before making any online purchase.

    “A goal without a plan is just a wish.” — Antoine de Saint-Exupéry

    If you have ever studied French, you have undoubtedly heard of the book Le Petit Prince (or, The Little Prince).

    Written by Antoine de Saint-Exupéry in 1943, this book is often used in educational settings not only to help teach the French language, but also for its richness in life lessons. This has made Le Petit Prince one of the most widely read books ever published, as it continues to sell over two million copies every year.

    One of the lessons from this book comes from the quote, “A goal without a plan is just a wish.”

    This quote is often cited in business settings when developing SMART goals, but can also be applied to your personal life.

    In this article, we will look at 3 lessons to be learned from this famous quote and then review some additional resources that are helpful for anyone who is trying to set more constructive goals.

    But first, let’s break this quote down a little bit.

    How Far Will a Wish Take You?

    Most of us have dreams of personal and professional achievements that we would love to accomplish one day, but they don’t always take off because we fail to make concrete plans surrounding these visions. This is where your wishes and your goals become disconnected.

    I’m sure you’ve considered what three wishes you would come up with if you were faced with a genie. Thinking back, were any of those wishes practical? Did you wish to be the king/queen of the world or become a millionaire overnight?

    A wish is vague, usually pretty “out there”, and certainly doesn’t produce tangible results on its own. Your wishes don’t come with an action plan to ensure you’re able to get what you want.

    However, when you’re following the roadmap of a SMART goal, not only is your aim specific, but there is also a time frame in which your goal is set to be completed, giving you a clear answer of whether or not your goal was achieved.

    SMART goals also have objectives attached, so you know all of the smaller tasks you have to accomplish in order to complete your ultimate goal.

    Without creating a plan to bridge
    the gap between your wishes and your goals, you aren’t giving yourself a chance
    to make your dreams become a reality.

    Let’s
    take a look at some of the lessons you can take away from this quote.

    3 Lessons to Be Learned: “A Goal
    Without a Plan is Just a Wish”

    1. Having a Goal is Half the
    Battle

    Having goals in life is admirable. It shows that you want to improve your life in some way and you have hope for a better future.

    You’re not content with the status quo. But you have to work toward your potential accomplishment for it to be anything more than an ideal.

    Once you have a goal in mind, you need to break it down into clear steps you have to take in order to give yourself a sense of direction.

    You have to plan the what, when, where, and (most importantly) how so you’re not wandering aimlessly doing tasks that may or may not be giving you leverage to meet your goal.

    When you have a goal in mind, you’re in a
    passive “thinking” stage. But, once you have a plan, you’re in an active
    “doing” stage. This is where you will
    start to make progress.

    2. Your Plan is Your Key to
    Success

    Think about what would happen if a group of builders got together to build a house, but they had no plan of action.

    They just started working. Without a plan, their work wouldn’t be cohesive, it would be inconsistent, and it most definitely wouldn’t end with a great final product.

    Here are some ways a plan can benefit you:

    • Help you define the extent of your project
    • Determines and specifies your objectives and deadlines
    • Helps you stick to a schedule (and a budget, if applicable)
    • Helps you keep track of your progress
    • Helps you anticipate any potential challenges, and sometimes your goals become bigger than you had originally planned once you start working, and being able to anticipate that will suppress feelings of becoming overwhelmed

    Some of your goals may require more detailed
    and comprehensive planning than others, but having the structure of a plan will
    help you achieve the final product that you originally hoped for.

    Let’s look at some examples.

    First, think about if you had a personal goal of completing a marathon. You wouldn’t just…”run more”. You would develop or follow a training plan to prepare you to cross that finish line.

    Your training plan wouldn’t have to be incredibly complex, it would just have to be a progressive strategy to get your body ready to endure that 26.2.

    Now think about the plan you would have to
    create to implement a company-wide goal of increasing customer retention by 20%
    in the next two years. Your planning would involve:

    • Completing a SWOT analysis
    • Finding ways to increase the speed in which you can resolve customers’ issues
    • Possibly implementing a loyalty rewards program
    • Creating a frictionless customer experience
    • Training employees on how to provide personal customer experiences to create customer loyalty
    • Assigning roles and responsibilities to various employees to assure continuous progress
    • And so on…

    Both of these goals have necessary plans, but it’s not a requirement for every goal
    to have an extremely extensive plan of action    . Don’t let the planning stage
    scare you off from creating your goals.

    3. Where Should You Start?

    Creating a sturdy action plan starts with having a clear goal in mind. Your plan will ultimately take you from your current starting point to the attainment of your goal.

    With a well-crafted plan, you can achieve pretty much any goal you set out to complete. But, where do you start in terms of planning?

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    Creating a well-crafted plan will help you achieve pretty much any goal you set out to complete.

    Writing.

    Planning the steps to achieve your goals can increase your discipline and self-control, but the truth is, how you plan is also a critical piece to success.

    A 2015 study found that people who commit their plans in writing are 33% more likely to achieve their goals. And, in recent years, writing plans for achieving goals in reverse has gained popularity.

    But why does reverse planning lead to increased motivation, higher expectancy of achieving one’s goal, and a reduced feeling of time pressure?

    There are three possible reasons for this:

    1. Focusing on the end goal helps you imagine future events as if they’ve already occurred.

    This makes it easier to visualize exactly what you need to do to get there. “Future retrospection” amps up your anticipation of success, which evokes goal-oriented behaviors.

    2. Backward planning helps you focus on a positive outcome.

    The entire time you’re planning, you have in mind that you have already achieved your goal, which makes the steps leading up to that moment a no-brainer.

    Alternatively, when you plan a goal from the beginning to end, you have a higher chance of feeling intimidated as you start to think about the obstacles you may face in the process.

    3. Planning backward helps keep your motivation high.

    Everyone’s motivation is usually at its peak at the beginning and closes to the end of a project. Reverse planning gives you a map to the completion of your goal by outlining every step you have to take along the way.

    This can help you maintain your focus for the duration of the project, even when your enthusiasm may otherwise start to diminish.

    Let’s
    look at how you can approach writing down a plan from this different
    perspective. If your goal is to change careers, your reverse-order planning may
    look like this:

    Before
    getting hired for a new position, you may have to:

    • Complete an internship
    • Get another degree or take additional classes
    • Apply and get accepted to programs
    • Research institutions that offer educational programs in your desired field
    • Shadow people who are currently working in this field
    • Do some informational interviews with current professionals

    When
    you start with your end goal, the first
    step seems simple to complete    . Plus, since you have already visualized
    achieving your goal, you’ve got that sense of motivation to get you there.

    Now
    can you imagine getting any of this done without having a plan in the first
    place?

    I’ll
    leave you with some additional resources that can be helpful for setting and
    achieving your goals.

    Further
    Reading on Setting and Achieving Goals

    If you’re not sure where to get started on creating your goals. Why not check out some of our articles on achieving your goals.

    Buy Stuff with “A Goal is Not a Plan” Quote Emblazoned

    A Goal Without A Plan Is Just A Wish: Composition Notebook

    A Goal Without A Plan is Just A Wish – 22.5″ x 16″ – Motivational Home Living Room Office Quote 

    A Goal Without a Plan is Just a Wish Wall Decal Sticker

    Final Thoughts on This Famous Goal Quote

    While some people don’t see the value of spending time building a plan, you must embrace the benefits that come along with proper planning of your goals. A good plan is a foundation for success, and without being supported with a solid structure, your goals will never become a reality.

    I suggest that you keep Antoine de Saint-Exupéry’s words of wisdom in mind next time you have a goal that you truly want to reach. Be proactive and specific in your planning so you leave little room for wondering what your next steps should be to be triumphant.

    And if you’re interested in learning from other famous quotes, be sure to check out these articles:

    Finally, if you want to take your goal-setting efforts to the next level, check out this FREE printable worksheet and a step-by-step process that will help you set effective SMART goals.

    Connie Mathers is a professional editor and freelance writer. She holds a Bachelor’s Degree in Marketing and a Master’s Degree in Social Work. When she is not writing, Connie is either spending time with her daughter and two dogs, running, or working at her full-time job as a social worker in Richmond, VA.

    a goal without a plan is just a wish | speech on a goal without a plan is just a wish | a goal without a plan is just a wish storya goal without a plan is just a wish | speech on a goal without a plan is just a wish | a goal without a plan is just a wish story

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  • What to expect as Netflix, Disney and other big streaming names shift strategy

    What to expect as Netflix, Disney and other big streaming names shift strategy

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    Streaming customers are likely to see more familiar faces and less megabudget content in the coming year.

    Shifting consumer tastes and corporate strategies portend changes in programming, with artificial intelligence looming in the background, as major streaming services consider how to use technology and new forms of programming without escalating annual multibillion-dollar content budgets.

    “The big quandary is, how do we make [services] profitable? Things have shifted so dramatically and so quickly in how people consume,” Cole Strain, head of research and development at Samba TV, which tracks viewership of shows, said in an interview. “The streamers that find out what consumers truly want — they win.”

    Streaming services are facing some big choices, noted Jacqueline Corbelli, CEO of software company BrightLine. “The cost of the content and the length of the content war will force them to make some major decisions. They are trying to figure it out,” she said in an interview.

    “Great content has to be paid for, and investors want to see an increasingly efficient and profitable business,” she said, adding: “Right now the economics of these are at odds with one another.”

    This year’s prolonged Hollywood strikes, the prevalence of up-close-and-personal sports documentaries and the increased licensing of older cable-TV shows are the most tangible evidence so far of how content is evolving. Throw in cost-cutting, and customers of services like Netflix Inc.
    NFLX,
    +0.28%    ,
    Walt Disney Co.’s
    DIS,
    -1.33%
    Disney+ and Hulu, and Amazon.com Inc.’s
    AMZN,
    +1.41%
    Prime Video are looking at a vastly different content landscape.

    What’s at stake? Streaming’s big guns continue to spend lavishly in the pursuit of engagement, which is the single most important metric in media. During its third-quarter earnings calls, Netflix said it would spend $17 billion on content in 2024, while Disney pledged $25 billion, including sports rights.

    “‘I think when it comes to creativity, quality is critical, of course, and quantity in many ways can destroy quality.’”


    — Disney CEO Bob Iger

    Complicating matters and raising the urgency is the pressure, particularly at Disney, to cut costs. The very future of blockbuster movies is also in doubt in the wake of box-office misfires such as “Wish,” “Indiana Jones and the Dial of Destiny” and the latest Marvel entries, “Ant-Man and the Wasp: Quantumania” and “The Marvels.”

    “One of the reasons I believe it’s fallen off a bit is that we were making too much,” Disney CEO Bob Iger said at a recent employee town hall meeting in New York City. “I think when it comes to creativity, quality is critical, of course, and quantity in many ways can destroy quality. Storytelling, obviously, is the core of what we do as a company.”

    Also read: Disney CEO Bob Iger walks back comments about asset sales

    Speaking at the New York Times DealBook Summit last week, Iger acknowledged that “the movie business is changing. Box office is about 75% of what it was pre-COVID.” Noting the $7 monthly fee for a Disney+ subscription, he said the experience of viewing content from home on large TV screens is both more convenient and less expensive than going to the movie theater.

    Iger’s task is significantly more fraught than those faced by his rivals. He is in the midst of a turnaround at Disney aimed at making streaming profitable and is simultaneously fending off yet another proxy fight from activist investor Nelson Peltz.

    Part of Iger’s plan is to slash costs. Of the $7.5 billion Disney intends to save in 2024, $4.5 billion will come out of the content budget. Previously, the company was aiming at a $3 billion content cut out of a total annual reduction of $5.5 billion. Disney plans to spend $25 billion on content in 2024, down from $27.2 billion in 2023 and a record $29.9 billion in 2022.

    Read more: Bob Iger: ‘I was not seeking to return’ as Disney CEO

    What streamers have done so far hews closely to the classic TV model of producing original movies and series, broadcasting live sporting events and throwing in licensed content, or syndication. They’ve also displayed a willingness to place ads on their services after vowing not to (in the case of Netflix) and have managed to mitigate spending on pricey sports rights with behind-the-scenes content.

    Most prominently, Netflix has licensed older shows like USA Networks’ “Suits,” reintroducing the cast, including a then-unknown Meghan Markle, to solid viewership. “As the competitive environment evolves, we may have increased opportunities to license more hit titles to complement our original programming,” Netflix said in its third-quarter earnings statement. 

    During the company’s earnings call in October, Netflix co-CEO Ted Sarandos pointed to the historic streaming success of “Suits.” “This continues to be important for us to add a lot of breadth of storytelling,” he said. “Our consumers have a wide range of tastes, and we can’t make everything, but we can help you find just about anything. That’s really the strength.”

    The success of “Suits” and of original sports programming, among several tweaks, indicates that consumers like what they see so far. Streaming additions at Netflix and Disney were significant — 8.76 million and nearly 7 million, respectively — during the recently completed third calendar quarter.

    Read more: Netflix’s stock jumps more than 10% on huge spike in subscribers, price hikes

    “There exist a lot of popular, good shows that people hadn’t seen before. HBO Max has licensed ‘Band of Brothers.’ ‘Yellowstone’ is on the CBS network after performing well on Paramount Global
    PARA,
    -2.76%
    and Comcast Corp.’s
    CMCSA,
    -3.41%
    Peacock,” Jon Giegengack, founder and principal of Hub Entertainment Research, said in an interview. “Consumers increasingly don’t care if a show is new, if they haven’t seen it before.”

    On the sports front, Netflix and Amazon Prime Video have sidestepped expensive rights to live sporting events and instead produced docuseries such as Netflix’s “Quarterback” and “Formula 1: Drive to Survive” and Amazon’s “Coach Prime” and “Redefined: J.R. Smith.” Amazon also continues to air “NFL Thursday Night Football.”

    Competition for eyeballs is tight with so many suitors — from Alphabet Inc.’s
    GOOGL,
    +1.33%

    GOOG,
    +1.35%
    YouTube to TikTok, both of which are developing long-form content — and viewers face “too many streaming options,” said Brittany Slattery, chief marketing officer at OpenAP, an advertising platform founded by the owners of most of the large TV networks.

    “There is a high churn rate, because consumers keep popping in and out of services because they can’t afford all these services,” Slattery said in an interview.

    Also see: Here’s what’s worth streaming in December 2023: Not much new, yet still a lot to watch

    Mark Vena, CEO and principal analyst at SmarTech Research, sums up the typical customer experience: “There are too many services for streaming. I will buy service for a month, watch a movie and then cancel.”

    Using technology for a new experience

    Major streamers are pinning many of their hopes on technology as a way to entice viewers and expand beyond the traditional TV model they’ve adopted. Strategies include mobile gaming (Netflix), gambling (Disney’s ESPN Bet) and shoppable media (Amazon).

    The biggest near-term change would bring ESPN exclusively to streaming, perhaps as early as 2025, although big games would probably be simulcast on network TV to retain older viewers.

    “Technology will be a major impetus for being in the winning circle,” said Hunter Terry, head of connected TV at global data company Lotame, pointing to Amazon’s shoppable-media strategy during Prime Video’s broadcast of an NFL game on Black Friday.

    The NFL game, the first ever on a Friday, featured QR codes of Amazon ads for direct purchases via mobile devices and PCs, contributing greatly to what the e-commerce giant said was its best-ever sales day — 7.5% higher than Black Friday 2022. The game drew between 9.6 million and 10.8 million viewers, according to Nielsen and Amazon, making it the highest-rated show on Black Friday for young adults (18-34) and adults (18-49).

    And what of generative AI, a major flashpoint in the writers and actors strikes that roiled Hollywood for months earlier this year? Creators feared generative AI would be used to produce low- and middle-brow entertainment without the need for writers, actors or production crew.

    The technology is as intriguing to streamers as it is vexing. Full-blown adoption would rankle creators as well as customers. There are also limitations: AI-created content is lacking in humor and original thought, said David Parekh, CEO of SRI International, a leading research and development organization serving government and industry.

    “The pressing question is, who goes first among the streamers and risks getting blowback from studios and consumers?” said Rick Munarriz, a contributing analyst at the Motley Fool who covers streaming-service stocks. “You don’t want to offend people, but there are tools to create ideas” at little cost.

    AI and machine learning are already being used to mine data to find out what resonates with viewers.

    “It is very hard to produce successful content,” said Ron Gutman, CEO of Wurl, which helps streamers and publishers monetize and distribute content, and which was recently acquired by AppLovin Corp.
    APP,
    -0.80%
    for $430 million. “The market is so fragmented. The problem is connecting people to content.”

    Straight to streaming?

    Big-budget busts present another potential source of content, by salvaging unreleased movies, according to experts.

    The so-called dust-bin option is the natural successor to straight-to-video and straight-to-pay-per-view movies. There has been some precedent, with the release of Disney’s superhero hit “Black Widow” simultaneously on streaming and in theaters in May 2021.

    Will streaming services end up as the first stop for movies abruptly canceled before release? Candidates include “Batgirl,” which cost $90 million to make and was in post-production when Warner Bros. Discovery Inc.
    WBD,
    -4.57%
    pulled the plug.

    The same fate could also await two other shelved Warner Bros. movies, “Scoob! Holiday Haunt” and the completed “Coyote vs. Acme.”

    While the $90 million “Batgirl” is a tax write-off, there could be upside to “Coyote” and “Scoob!” if they went to streaming without a costly marketing campaign, said SmarTech Research’s Vena.

    Still, the long-term plans of streaming giants to meld tech to TV remains a ticklish task, said Wurl’s Gutman. “TV is a lean-back experience, not a lean-into technology medium,” he said. “People are looking at their phones while watching TV. It is a passive experience.”

    Tracy Swedlow, founder and co-producer of the TV of Tomorrow Show conference, said: “They’ve been burning a candle at both ends, investing in original content as well as licensing long-tail content such as ‘Suits’ and ‘Breaking Bad.’ Something has to give.”

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  • Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills

    Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills

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    BERLIN—Bayer Chief Executive Bill Anderson said the company would bounce back quickly from a recent spate of bad news, and warned that a breakup of the pharmaceutical and agricultural company was no universal cure for its ailments.

    A stream of negative news has rekindled calls from investors for Bayer to unlock value by spinning off its units into separate businesses. But in an interview with The Wall Street Journal this week, Anderson said the company couldn’t be distracted from the tough restructuring to fix the businesses.

    Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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  • Virgin Galactic to Cut Jobs as Interest Rates Bite

    Virgin Galactic to Cut Jobs as Interest Rates Bite

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    Virgin Galactic said it would cut jobs and expenses to focus on producing its lower-cost Delta spaceships.

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  • Do You Have Specific Timelines for Goals? – Corporette.com

    Do You Have Specific Timelines for Goals? – Corporette.com

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    This post may contain affiliate links and Corporette® may earn commissions for purchases made through links in this post. As an Amazon Associate, I earn from qualifying purchases.

    Have you had specific timelines for goals, whether personal or professional — such as be married by X age, get a new job after X years, or make partner or join the C-suite by a certain age?

    The other day, I heard an HR executive say that people really need to be executive level by the time they’re 50, or else they risk age discrimination and the perception that they’re not really doing a good enough job to be promoted. I thought this was fascinating, both because it struck me as true and extra hard on women who might be taking their 40s to lean out as working mothers or elder caregivers — but it got me thinking more about goal timelines in general.

    Have you had timelines and goalposts in your mind for work, family, and other aspects of your life? How did you set the timelines and goalposts — were you inspired by family members, friends, colleagues, or some other resource?

    (Obviously, the saying is true — God laughs when you make a plan — so I’m not too interested in whether you’ve MET the timelines. I’m just more curious if you did have certain timelines, what they were, and how you set them…)

    Here are some examples of ways this could look:

    Timelines for Career Goals

    • Success milestones: Do you have a specific age by which you’d like to be at a certain level of success (such as executive level by the time you’re 50)?
    • Salary: Have you ever told yourself you wanted to earn $X by a certain age?
    • Retirement: Do you have a timeline in mind for when you’ll retire?
    • When to job hunt: Have you had timelines in mind for when you should look for new jobs? (I’m thinking of many people I worked with in BigLaw who had a clear timeline for when they would get out, either from the perspective of “I did my time and am now going to a lifestyle firm” or “I’m staying here until I pay off my student loans.”)

    Timelines for Personal Goals and Dreams

    • Marriage: Have you had a specific timeline for when you’d like to be married?
    • Babies: Have you had a specific age by which you’d like to start having children (or stop having them)?
    • Money: Have you had specific benchmarks in mind for your savings goals, such as getting out of debt, having a certain net worth — or other financial goals?
    • Fitness or health: Have you had a milestone birthday in mind for doing something specific, like lose the weight or run the marathon?

    My Own $.02 on Women’s Timelines…

    I was fascinated by the HR executive’s point about “executive level by age 50” because I had never heard it described like that, and in general I’ve never thought about these types of things in that way.

    To be honest, though, I kind of struggled with a sense of direction once I got out of school. It wasn’t that I didn’t have a career plan, because I had 15 different ones that I was actively networking and building paths towards… Looking back, it may have been that my plans were overly ambitious and (dunh dunh dunh) didn’t have a specific timeline.

    Professionally, I remember working with people who had specific goals for advancement, particularly when I was in magazine journalism — they were laser focused on the title of Editor and job-hopped aggressively until they moved past the lower rungs.

    I also definitely worked with people who had more lifestyle-focused goals, such as leaving the city by age 30.

    In BigLaw, particularly, I definitely worked with people who buckled down to put in their time and get the experience until they could move to a smaller, more lifestyle-friendly firm or in-house experience. They didn’t measure the timeline by age, though, but rather “I have to be out of here by Year 4” or so. (This was actually really smart of them!)

    On the personal side of things, I definitely had a timeline in mind for marriage and children… I wanted to be married by age 26 and have my first child by the time I was 29 because I’d read that breast cancer chances can be greatly reduced if you breast feed before age 30. Ah, plans! (I got married at 31 and became a mom at age 34.) I remember getting a bit stressed as those birthdays flew by… When I turned 30 and was totally single, it almost freed me in a way, because the timelines had been completely blown out of the water.

    Readers, what are your thoughts — have you had timelines or benchmarks in mind for professional or personal goals? How did you create those timelines? If you’ve failed to meet certain benchmarks, have you adjusted the timelines or jettisoned them completely?

    Stock photo via Pexels / Gustavo Fring.

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    Kat

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  • Sanofi Plans to Split Consumer-Healthcare, Pharma Businesses — Update

    Sanofi Plans to Split Consumer-Healthcare, Pharma Businesses — Update

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    By Adria Calatayud

    Sanofi plans to split its consumer-healtchare and pharmaceutical operations, making it the latest big drugmaker to sharpen its focus on prescription medicines by offloading adjacent businesses.
    

    The French company outlined the plan on Friday as part of a strategic update that includes increased investment in its pipeline and a cost-savings program.
    

    

    Sanofi said it is evaluating potential separations options, but believes that the most likely path would be through a capital markets transaction, by creating a listed entity headquartered in France. The split could take place in the fourth quarter of 2024 at the earliest, it said.
    

    The move will allow Sanofi to increase its focus on innovative medicines and vaccines, the company said. The split will create two entities and will enable each to pursue its own strategy, it said.
    

    Sanofi was one of the few big pharma companies that still housed innovative drugs and consumer-healthcare operations under the same roof.
    

    Johnson & Johnson earlier this year spun off consumer-health business Kenvue, which owns brands such as Band-Aid and Tylenol, and GSK last year separated its Haleon consumer arm. Other pharma giants such as Novartis and Pfizer made similar moves in recent years.
    

    The plan remains subject to market conditions and consultation with social partners. Sanofi’s consumer-healthcare business is present in 150 countries and employs more than 11,000 people, it said.
    

    Write to Adria Calatayud at adria.calatayud@dowjones.com
    

    

    

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  • 
		
		
    
			
    UAW won’t expand auto workers strike
    
			
    UAW won’t expand auto workers strike
    
			
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    The United Auto Workers said Friday it has made progress in the negotiations with the Big Three carmakers, and didn’t announce any new plants that would expand its ongoing strike. 
    

    Nearly 34,000 workers at Ford Motor Co.
    
        F,
    
        +0.95%    ,
    
       General Motors Co.
    
        GM,
    
        +1.13%
    
       and Stellantis NV
    
        STLA,
    
        -0.37%
    
       are on strike, with the most recent labor-movement expansion hitting Ford’s highly profitable Kentucky pickup truck factory earlier this month. 
    

    

    There was “serious movement” in negotiations at GM and Stellantis, UAW President Shawn Fain said Friday in an address to the membership. 
    

    “The bottom line is we’ve got cards left to play and they’ve money left to spend. That’s the hardest part of a strike. Right before a deal, is when there’s the most aggressive push for that last mile,” Fain said. 
    

    Earlier Friday, GM made new proposal to auto workers, reinstating cost-of-living adjustments and offering compounded raises of about 25% over four years.
    

    Auto workers started the strike at the stroke of midnight Sept. 14, walking out at one plant each of GM, Ford, and Stellantis NV
    
        STLA,
    
        -0.37%    .
    
       The union expanded the labor action to more factories and facilities as the weeks went by. 
    

    Striking at all Big Three at once was a departure from the long-standing UAW tradition striking at one car company at a time, to save picket-line firepower and the strike fund. 
    

    During his address Friday, Fain vowed to intensify efforts to unionize at more auto plants. 
    

    “We are going to organize non-union auto companies like we’ve never organized before,” he said.
    

    Tesla Inc.
    
        TSLA,
    
        -3.69%
    
       has for years fended off efforts to unionize its factory in Fremont, Calif. Several foreign automakers have U.S. plants in the Southeast, where union traditions are not as the Midwest. 
    

    

    

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  • 
		
		
    
			
    By buying Splunk, Cisco is closer to becoming a software company
    
			
    By buying Splunk, Cisco is closer to becoming a software company
    
			
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    With Cisco Systems Inc.’s pending acquisition of Splunk Inc., the networking giant is making another major step toward becoming a software company. 
    

    On Thursday, Cisco CSCO said it was buying Splunk SPLK in a deal valued at about $28 billion, or $157 a share in cash, for the cloud-security company. The match had been speculated about for years, and Cisco has been on a buying binge this year, as it seeks to grow with more security and software offerings.
    

    “Together, we will become one of…
      
    

    

    

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  • 
		
		
    
			
    Why Long-Term Strategic Planning is the Lifeline For Your Business | Entrepreneur
    
			
    Why Long-Term Strategic Planning is the Lifeline For Your Business | Entrepreneur
    
			
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    Opinions expressed by Entrepreneur contributors are their own.  
    

    

    Business leaders have faced extraordinary challenges over the past several years. Pandemic-related demand changes, workflow shifts, persistent inflation and a tight labor market have left business leaders zigzagging through crisis after crisis. The pace has been unrelenting.
    

    But we risk getting swept away if we’re constantly hopping from one precarious rock to another across a fast-flowing river of challenges. We risk moving in inches, not miles. We stagnate. What’s worse, we can become enticed by taking the easy path of mirroring competitors’ strategies and being just another company that doesn’t stand out.
    

    Aspirations alone won’t cut it. For businesses to excel, it’s essential to be intentional in formulating short-, medium- and long-term plans. These blueprints will help future success.
    

    Related: The 5 Pillars of Thriving Teams and Extraordinary Workplace Cultures
    

    Step 1: Pinpoint your X-factor
    

    Every brand has its own X-factor — its unique value. What’s yours? Is it groundbreaking technology, a service that rivals none, or maybe unparalleled cost efficiency? Identifying this competitive edge isn’t just about self-awareness. It’s about amplifying this edge in everything you do. It’s what ensures you’re not just another player on the field, but one recognized, sought-after and admired.
    

    Finding your X-factor is not a top-down exercise. You might have identified your X-factor, but unless the wider team shares this view, you’re working against the tide. Engaging your team to align with this understanding is crucial. Remember, leadership isn’t about dictating direction but about cultivating a shared vision. You’ve missed the mark if the X-factor only resonates with the C-suite and not the broader team.
    

    To build an organization that’s resilient and progressive, every team member, from entry-level to senior executives, should have a say in the direction and future aspirations. When everyone sees where the ship is sailing and why, they not only paddle in rhythm but often faster and more efficiently. If it’s just senior leadership dictating the vision, the plan is destined to fail. On the other hand, a collective vision strengthens resolve, determination and commitment.
    

    If you’re struggling to find your special sauces, ask yourself a series of questions. Why are customers choosing you? What resources do you have or can you access that others cannot? Where is the market saturated, and where is the open lane? Knowing and using your strengths wisely is one of the most critical factors to business success.
    

    Related: 5 Proven Tips for Better Defining Your Business’ Unique Value Proposition
    

    Step 2: Chart the course with tangible milestones
    

    With your X-factor identified, the next challenge is progressing toward defined goals. The concept of OKRs, “Objectives and Key Results,” proves invaluable here. It’s about setting objectives, the motivation behind your goals and then determining specific Key Results to achieve them within a set timeframe. This methodology enables businesses to measure success more tangibly.
    

    For instance, if a substantial portion of your revenue comes from a single product, you’ll likely want to diversify your income stream to ensure stability. Using the OKR methodology, an objective could be to bolster economic security. A corresponding Key Result might involve boosting business from various products or sources, thus reducing dependency on a single one.
    

    This method isn’t complicated, but it requires a focused approach to the factors that truly drive a business’s growth and success.
    

    Step 3: Consider your plan at every major decision point
    

    A dirty little secret of the business world is that many strategic plans fade into obscurity. Employees generate them with enthusiasm. People are inspired. Then, the next crisis emerges, consuming leadership’s time and attention. By the time they survive one — another arises. All the while, the plan ends up collecting dust.
    

    Successful leaders have to keep multiple plates spinning. What’s more, when responding to an urgent issue, they do so with express reference to the goals and their OKRs. At Fennemore, we relentlessly focus on pursuing our plan’s vision and whether decisions support our broader objectives. Keeping your plan front and center will keep you and your team on course.
    

    Related: How to Achieve Long-Term Success by Slowing Down Your Business and Creating a Strategic Plan
    

    Step 4: Recalibrate along the way
    

    Just as no war plan survives the first contact with the enemy, no strategic business plan remains untouched by the realities of a shifting market. The global landscape is not static. External forces — from market dynamics and technological advancements to geopolitical shifts — can render tactics obsolete. Flexibility, therefore, is not just a value-add but a necessity. This doesn’t mean you deviate from your goals or abandon your X-factor.
    

    Instead, it’s about reassessing, recalibrating and tweaking the plan to ensure it remains relevant, effective, and aligned with your overarching objectives. Consistent check-ins and feedback loops internally within teams and externally with market trends will help your strategy evolve while remaining anchored to your business’s core purpose.
    

    Step 5: Embrace the power of resilience
    

    The journey of strategic planning isn’t a one-off event. It’s a continuous process, one that requires grit, determination and resilience. Challenges will arise, and crises will interrupt, but with a clear strategic direction, such obstacles become surmountable. And here’s the beauty of resilience: it’s contagious. When leadership showcases determination in the face of adversity, it trickles down, motivating every echelon of the organization. By fostering a culture of resilience and tying it directly to your long-term strategic planning, your business can navigate the crises of the day and be better prepared for any that may arise in the future.
    

    Related: 5 Ways to Adapt to Change and Build a More Resilient Business Model
    

    Stop winging it
    

    In today’s world, winging it won’t work. Businesses are complicated, and leaders need to adapt to new challenges constantly. Every decision requires thought, strategy and an honest assessment of where your organization is and needs to go.
    

    If you already have a long-term plan, it’s time to refine, recalibrate and set bolder metrics. If not, the journey of crafting one should start today.
  
    

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     James Goodnow
    

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    NIO’s Shares Fall on Plans to Raise $1 Billion via Convertible Bonds
    
			
    NIO’s Shares Fall on Plans to Raise $1 Billion via Convertible Bonds
    
			
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    NIO’s Shares Fall on Plans to Raise $1 Billion via Convertible Bonds
    

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    EV Maker NIO Plans to Issue $1.0 Billion in Convertible Senior Notes
    
			
    EV Maker NIO Plans to Issue $1.0 Billion in Convertible Senior Notes
    
			
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    EV Maker NIO Plans to Issue $1.0 Billion in Convertible Senior Notes
    

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    Instacart prices IPO at $30 a share, at upper end of expected range
    
			
    Instacart prices IPO at $30 a share, at upper end of expected range
    
			
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    The grocery-delivery app Instacart on Monday priced its IPO at $30 a share, at the upper end of its expected range, raising $660 million with a fully-diluted valuation of around $10 billion after backing away from a stock-market debut last year. 
    

    The company said it plans to begin trading on the Nasdaq Global Select Market on Tuesday under the ticker symbol “CART.” It will offer 22 million shares in the IPO. On Friday, Instacart had said it expected to price the offering at between $28 and $30 a share. 
    

    

    Goldman Sachs and J.P. Morgan are acting as lead book-running managers for the offering. Instacart said it also granted the underwriters a 30-day option to purchase up to an extra 3.3 million shares at the IPO price. The offering is expected to close on Thursday. 
    

    The debut would come amid what appears to be a thaw in the IPO market, following a year of concerns about inflation and the broader economy. But the public debut of chip designerArm Holdings
    
        ARM,
    
        -4.53%
    
       last week made big waves. The digital-marketing platform Klaviyo is set to debut this week as well. 
    

    Instacart’s valuation in 2021 stood at $39 billion. Last year, as pandemic-era digital demand fizzled, the company cut its valuation multiple times, but raised it this year, according to The Information.
    

    Instacart, in its IPO filing, said the way people shop for groceries is undergoing a “massive digital transformation.” Evercore analysts have said the company controls around a fifth of the U.S. online grocery-delivery market. 
    

    But the company faces steep competition — from the likes of Walmart Inc.
    
        WMT,
    
        -0.74%    ,
    
       Amazon.com Inc.
    
        AMZN,
    
        -0.29%
    
       and DoorDash Inc.
    
        DASH,
    
        -0.01%
    
       — and relies on a handful of grocery chains for a big chunk of its demand. And delivery fees on top of higher-priced groceries remain threats to demand. 
    

    

    

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    Johnson & Johnson Maintains Dividend After Kenvue Spinout
    
			
    Johnson & Johnson Maintains Dividend After Kenvue Spinout
    
			
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            Johnson & Johnson
    
          
    
        
    
       on Wednesday issued new financial guidance after spinning out the consumer-health company
    
        
    
          
    
            Kenvue
    
          
    
        
    
       While its earnings and sales projections were lowered on an absolute basis, the company is maintaining its dividend and expects to increase its revenue at a faster pace. 
    

    

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    Nvidia Plans to Buy Back Billions in Stock. Other Companies Could Join in Soon.
    
			
    Nvidia Plans to Buy Back Billions in Stock. Other Companies Could Join in Soon.
    
			
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    Nvidia Plans to Buy Back Billions in Stock. Other Companies Could Join in Soon.
    

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    Hundreds of extra public, affordable homes close to Sydney CBD proposed under revised Waterloo Estate redevelopment plan – Medical Marijuana Program Connection
    
			
    Hundreds of extra public, affordable homes close to Sydney CBD proposed under revised Waterloo Estate redevelopment plan – Medical Marijuana Program Connection
    
			
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    Nearly 500 extra social and affordable homes will be built close to Sydney’s CBD under revised plans for the rejuvenation of one of Australia’s biggest social housing estates.
    

    


    

    The Waterloo Estate, home to almost 2,500 people, has been earmarked for redevelopment under controversial plans that would involve the demolition of the precinct’s towers, terraces and single-storey cottages.
    

    Under the previous NSW Coalition government’s plans, the site would be offered to developers on the proviso up to 34 per cent of the 3,000 new homes were social and affordable housing.
    

    But the Minns Labor government announced on Monday it would increase that to 50 per cent, taking the number of social and affordable homes from 1,074 to about 1,500.
    

    At least 15 per cent of the new social and affordable properties will be used by people from the Indigenous community.
    

    

     The Waterloo Estate is home to nearly 2,500 people in the inner Sydney suburb.(Supplied: NSW Government)
    

    

    There are more than 51,000 people on the public housing waiting list in NSW.
    

    Premier Chris Minns said the “huge backlog” meant it was important to make more public housing available in development plans.
    

    “We think it’s a model for the future across…
    

    

    Original Author Link click here to read complete story.. 
    

    

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    Novartis Sets Sandoz Spinoff Date for Oct. 4
    
			
    Novartis Sets Sandoz Spinoff Date for Oct. 4
    
			
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    By Adria Calatayud
    

    Novartis said the planned spinoff of its Sandoz generic pharmaceuticals and biosimilars business is expected to occur on or around Oct. 4.
    

    The Swiss pharmaceutical giant said Friday that the separation will take place through a proposed distribution of Sandoz shares to its existing shareholders. Novartis shareholders will get one Sandoz shares for every five Novartis shares held and one Sandoz American depositary receipts–or ADRs–for every five Novartis ADRs, the company said.
    

    

    Novartis had previously said it expected the spinoff to happen early in the fourth quarter.
    

    The Sandoz spinoff remains subject to approval by Novartis’s shareholders. Novartis has scheduled an extraordinary general meeting for Sept. 15 to vote on the proposed distribution of Sandoz shares and a reduction in its own share capital in connection with the spinoff, it said.
    

    Following the separation, Sandoz would be listed in SIX Swiss Exchange, with an ADR program in the U.S., Novartis said.
    

    Write to Adria Calatayud at adria.calatayud@dowjones.com
    

    

    

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