per quarter, 15% year-to-year Net income growth: 6% per quarter, 20% year-to-year Short term interest rates: remain under 5% Cost of capital: 10% Headcount additions limited to vacancies in existing positions; incremental revenue; operating cost reduction projects (con- tractor, until proved out) and capacity growth. Growth scenarios: Expand regional programming from one currently to two or three areas. One of the more often ill-practiced parts of business planning is making a plan-for-a-plan, complete with dates and deadlines. This is senior management responsibility. But if it isn't practiced well, and you're the communications manager that has to live with the situ- ation, you can make your own plan and deadlines and benefit from such action. Table 12-6 shows an example of how to lay out an overall schedule and plan. Budgeting and Business Plan Schedule In addition to the information above, each department manager has been provided with current financial summaries and first draft ex- pense and capital budget forms or spreadsheets to use in developing the first draft submission. TABLE 12-6 Start Date Deadline Management issues guidelines and assumptions; August 1 September 1 requests draft plans Management review cycle September 1 October 1 Revision and negotiation October 1 November 1 Prepare final plan November 1 December 1 Final approval cycle December 1 December 15 Distribute plan December 15 December 31 12 BUDGETING AND FINANCIAL PLANNING SUCCESSFUL PLANNING Successful planning is a mixture of paradoxes at best. First, it's not possible to judge success until it's history, or as Yogi Berra would say, "It ain't over 'til it's over." And once it's over, we can look back and judge failure, success, or in between. Second, regardless of the cir- cumstances, it's not possible to go back and change what happened or didn't happen. History might be re-written, or written differently, but if it is, then it isn't accurate. Lastly, it's not possible to predict the future, except in terms of probabilities, such as the 