This is the time of year I like to reflect on the past 12 months while trying to determine how I will approach the coming year.

While reviewing the resolutions that I made last January, I was pleased to see that I actually followed through on some of them. I implemented my marketing plan... well, some of it. I was able to do a better job of controlling expenses while expanding some areas of my business that had been neglected.

As I look back over 1995, I see a year of great opportunity for those who were prepared. Some may call it luck. Somewhere I heard luck defined as being prepared when opportunity knocks on your door. Were you prepared?

The Dow Jones Average broke the 5000 barrier and a little upstart computer company by the name of Netscape... who had only one product and no profits... more than doubled in value during its first hour of trading as a public company. The rest is history. As of this writing, Netscape is trading at $130 per share. Still no profit and only one product.

Locally, Medstat Systems was purchased by a Canadian firm and Network Express began the year as a public company with a successful stock offering. How many more small upcoming firms are lurking in the wings hoping to become another success story? How do emerging companies prepare for their "lucky" break"?

I'd be willing to bet that these firms are being led by a management team that doesn't rely on luck - but on planning and listening.

This brings us back to the bare essentials of good business. It's all very simple. Ask anyone who has taken an idea from conception to a successful enterprise. They will tell you that they started with a plan and they worked the plan. They were prepared when opportunity knocked.

There are no sure ways to succeed in business. However, there are a myriad of ways to ensure failure. Here are just a few:

• Don't have a business plan... or if you do, be sure to keep it in your head.

• Don't worry about a market plan... after all, if you don't have a business plan why would you think of a marketing plan?

• If you think you have a good idea, be sure to bounce it off someone who is not biased... like your spouse, mother or brother-in-law.

• Don't look for outside help in the areas where you may be weak. Try to "wing it" as you go along. It's a lot cheaper and you won;t have to share credit for the results.

• Take the time to develop a business plan and put it in writing.

• Research your market and your product. Is your product needed or wanted? Is there a like product already available?

• Get some help! Don't try to do it all alone. There are valuable resources nearby. Some are costly, others are free. Take advantage of them.

One of the things I admire about professional athletes is their willingness to get help. Jack Nicklaus has a swing coach and Michael Jordan goes to camp with the rookies. Although much of this may seem old and worn, I'm sure you will agree that reviewing the basics is worthwhile.

It works for Jack and Michael because they plan and listen. It can work for you!