Strategic Planning

A Plan to Grow in 2010.
One hundred years ago, in 1910, two teams of men set out to be the first to reach the South Pole. One team was led by Scott the other Amundsen. Both had a plan. Both had the same objective. Both achieved the success of reaching their goal – one achieved the ultimate goal of being first. From Amundsen and Scott we learn the necessity of a plan and we also recognise that the content of that plan is critical to its success.

Planning is an essential element of business success. You will often hear that people have the Midas touch – “they just seem to be in the right place at the right time”. The fact is that neither luck nor any form of clairvoyance is a dependable element of business success. The real requirements are - key objectives that are realistic but will stretch you and your team and a strategic plan that allows you and your team to achieve the success.

The Planning Environment
If you would like to give your plan a 50% better chance of success the first step is to choose an environment that encourages clear thinking, escapes the frustrations of the office and everyday business concerns. Start with a room that has windows and then add views and peace and quiet. Into that room introduce your key executives or stakeholders.
Add a professional facilitator – who has some knowledge of your type of business. It is obvious that the strategic plan for a professional services group will likely have different insights and content than that of a manufacturing organisation.

Getting The Right Participation
If this is the first time the group has met to create a strategic plan it is very important to review where the business is now. Let the frustrations come to the surface for evaluation and discussion. Be open to recognising the weaknesses of the business but balance that by examining and writing down the strengths. Before your team can look to the future and be involved with blue sky thinking – the everyday agendas need to be put aside. If we are to set stretch goals or objectives – the knowledge of where we are now is essential.

The Time Frame
Most strategic plans encompass a 3 year time frame. They will contain objectives that are measurable. The first meeting and eventual plan will contain objectives for the entire plan but detailed strategies and tactics for the first 12 months.

The Objectives
While you may have in mind a singular objective - the fact is that most strategic plans will have a number of key objectives. A single plan may seek revenue or profit targets. You may look to increasing locations or lifting partners in a professional services practice. Always keep in mind that the objectives must have stretch factor. Objectives that are impossible to reach will simply de-motivate your team while being able to pat everyone on the back through easy objectives will simply breed laziness rather than lift team spirit.

Living With The Plan
As an owner or chief executive you will ultimately be responsible for achieving the plan. It is important however to also set your own series of personal objectives. It is reasonable that the same be asked of the key stakeholders. We all need to strive continuously to grow. It was Gary Player who once said the more he practised the luckier he got – there is no doubt that the harder we work to overcome our weakness and better apply our strengths the more successful or “luckier” we will become.

Having developed the plan and involved yourself personally in it, you and your team need to “live it”. Start by reading it every day for 21 days straight. A good plan will be able to be read in 15 to 20 minutes. The plan should be like a well practised golf swing you know it so well that it becomes automatic to think and work to the plan.

Then monthly you need to meet with your key team members using the plan as the basis of judging your success and perhaps highlighting those areas that may not be “going according to plan”. A plan is a living dynamic instrument for your success. As such it may require amendments based on your experience – always look to align actual performance against the plan.

I urge you to think about the future of your business now. If you don’t have a strategic plan in place, begin immediately to assemble your team and create an opportunity and an environment for them to meet and create that plan.

Remember however that the plan is not just a “must have” document. As with Amundsen – it is a document that should have the right strategies and tactics to ensure true success.