| Strategic Planning - What do you mean?
Strategic planning, if done well, becomes the road map for business growth and, in some cases, massive change. Done poorly, it wastes time, money and demoralizes the team. The phrase means different things to different people. So, what are you talking about when you say or hear it? A few examples to ponder:
- The simple, top down, no plan pipe-dream called the strategic plan. The Sr. Exec announces a day for strategic planning. The strategic discussion is limited and the "strategic plan" ultimately is a directive. "We will grow by 60% in the next 3 years." "Our revenue target for next year is $xxxmm." Now go out and make it happen, rah!
- The big strategic discussion called strategic planning. The exec team gets together for several days off-site. There is great creative thinking, stimulating dialogue and dynamic discussions of the possibilities. This is good stuff and a good time. Flip charts are summarized and notes are distributed. There is no cohesive commitment to execute. Leaders get back to work and in pretty short order, opportunities are lost to the press of time and running the railroad.
- The good "strategic plan" that goes unexecuted. Dynamic discussions take place. Ideas get legs. Enthusiasm builds. Opportunities are identified and a reasonable plan developed. Binders are published and little else happens. By year's end, the three-year plan is unintentionally relegated to the trash heap of dead possibilities.
Creating a comprehensive strategic plan is a big deal. It is a big investment of time, money and brain-power. Strategic discussions are essential, yet do not stand alone. The plan must be built on the right foundation. The diverse thinking of great ideas must be filtered to the high impact short list. Linkages and dependencies must be clearly defined. Accountability and metrics agreed.
Then the work of making it happen starts. All to this point is wasted unless the plan or significant components of it get executed. Sometimes things change. Your team adapts, mid-course corrections get made and if you stick with it, the business grows and improves.
If you would like more information about the strategic planning process, check these out:
Much Ado About Something: But What and Why?
There's No Silver Bullet: Twelve Tips for Value and Results
I appreciate the good service and products we get every day as a result of all the leaders who keeping things working. Thanks for reading Boek to Business but more than that, for keeping the wheels of commerce turning.
A robust strategic planning process engages leaders and creates alignment for successful implementation. Customized leadership development builds capacity for successful execution. Let’s talk if it is time to consider this for the future of your business.
Best Wishes,
Randy Boek
ROUTE 2, Inc.
5400 Carillon Point
Building 5000, 4th Floor
Kirkland, WA 98033
425-359-8506
randyb@route2results.com
www.route2results.com
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