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You’ve planned for the future: Now what?

Don't let the arcane language of scenario planning keep you from making decisions

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Last December I wrote an article about scenario planning that was inspired by a friend's question about real estate professionals being replaced by technology. With the National Association of Realtors Strategic Planning Committee meeting today to discuss scenario planning, I figured now would be a good time to write about what you do after a scenario planning session. Quick recap for those of you who think that scenario planning involves Dungeons & Dragons, something outlawed in some states, or both: Scenario planning is an exercise where the participants imagine a possible future and how it will impact them. Ideally, participants will also imagine how they will operate in that possible future. Scenario planning can range in complexity from a conversation over coffee with a lot of "what if" statements to a full simulation complete with props. One of the great benefits of scenario planning is to open up lateral thinking capabilities and prevent tunnel vision. T...