Planning is important for three key reasons: 1. Planning saves time and resources by avoiding mistakes and helping focus efforts on the most important objectives. When you fail to plan, you are planning to fail. 2. Developing a plan through critical analysis allows you to identify flaws, weaknesses, and potential issues that could hinder achieving your goals. 3. Proper planning helps uncover strengths, opportunities, and the most effective course of action towards accomplishing your goals in the most efficient way possible.