As a manager of 40 people and responsible for $5mm in sales at 23, this was one of the first lessons I learned in time and priority management. My boss would quote this to me constantly when I was idle or having an existential crisis. I could essentially finish his words by the end of my time there when he'd start to say it:
"If you don't know what to do, do something"
I struggle with this still, as my responsibilities shift and change and grow. While I do believe taking a finite, dedicated amount of time for planning is necessary, just enough is the goal, then execute.