I think I have heard a comedian talk about a toddler threatening to run away, and walking out the door, and him asking the toddler, “What’s your plan? I don’t think you’ve thought this thing through very thoroughly.”

There is a study that is often cited about a Class of Yale graduates, and that only a certain percent of the class had a plan when they graduated, and an even smaller percent had written their plan down. Years later, it is said that the portion of the class that wrote their plan down, even though it was a tiny percent of the class, had more wealth than the rest of the class combined. I am not 100% certain that that story is true, or whether it has become an old tale that has been repeated over generations. It does not really matter if it is. It merely serves as a story to illustrate the value of writing our plans down.

I will acknowledge that everyone is not in a position to have a rigid life plan, written in stone upon graduation. I also deal in business strategy, and there are business books that tout companies who are able to narrow down their focus to 1 key metric. And, those that do outperform the vast majority of other companies. The suggestion and insinuation for all other businesses is that if all the other businesses would just figure out what that one metric was for them, then they could also outperform all other companies who had not employed that discipline. However, that belief fails to recognize that perhaps not all businesses are conducive to being able to narrow down their business to a single metric. So, your strategic advice is bunk, and not universally applicable. Maybe it only applies in certain situations. Likewise, some people are better positioned to have a written plan than others.

Let’s illustrate why that may be. A successful burn center surgeon has a son who is the spitting image of himself. He has clearly inherited his father’s genes. He has his father’s intelligence. He has his father’s mechanical and biological intuition. When he accompanied his father to work, even at a young age, he was fascinated by what his father did, and could not wait to one day follow in his father’s footsteps to be a burn surgeon, just like his dad. So, he also adopted and had a strong affinity for his father’s career interests. It would be very easy for this young man to draft a written plan for his career. And, in fact, armed with his father’s experience, he could be well-positioned to take the practice to a whole new level of success.

A young woman is attending college and majoring in business. Her plan after college is to work in her family’s business for a few years. Then, she wants to get her law degree and her MBA. Afterward, she plans to work in a corporate law firm for a few years, before returning to the family business. She expects to one day lead the family business.

As you can see, in both of these examples, these people are well-positioned to have a well-defined written plan. And, the financial outcomes of their plans are both potentially very promising. However, even those among us for whom the path is not as clear, IF career ambitions are important to you, writing your plan down is still important. Your plan may just be a little more interactive. If this, then that.

One of my sons is planning to go to Medical School, for example, but he has no real way of knowing, as a college Freshman, where he will go to medical school. So, his plan may have Medical School, and a list of potential schools where he may want to go, IF he gets accepted. Then, he will have a choice, or choices, of specialty, where he wants to live, and so on. He will have so many cascading possibilities, for him, that it is especially important for him to write it down.

Likewise, in most of our lives, we will have a cascade of events that will influence our lives and out ultimate career destination. Each of us has different aspirations, goals and values. We will encounter opportunities and obstacles. So, my advice to anyone who is serious about their career is to “write it down”.