Innovation requires you to plan ahead; there's no doubt about it. You cannot innovate if you're not willing to think about the trends that are not yet available but which could be big. Your job is to turn that vision of the future into a reality.

Besides thinking about the future, you need to be willing to plan for the company financially and on a resource level. For example, if you are thinking about expanding your company to other markets--perhaps overseas--you need to plan ahead, and make sure you're able to overcome the potential overload.

Successful planning breeds innovation because it allows you, the business owner, to focus more on success and what you can do better, instead of worrying about whether or not you have enough of your product.