Planning is the difference between wishing and organizing for achievement. In this program, Susan Garber, state director of the Pennsylvania Small Business Development Center at the Wharton School, addresses the issues and techniques of planning, and the critical need for long-range planning. She covers the need to define the nature of the company and its activity, setting goals and determining how to attain them, analyzing markets and sources of financing, and setting a timetable. She distinguishes between short-range and long-range forecasting, explains how—although one never knows what will happen—educated projections can and must be made, and describes how a business plan is to be formulated and used. Most businesses that fail, she points out, fail not from a lack of financial resources but from failure to manage the resources they have—from lack of adequate planning. (25 minutes)