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Strategic Planning -> Quarterly Priorities@StephenLynch @RESULTSdotcom
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RESULTS.com
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RESULTS.com - One Page Strategic Plan
Questions / Answers:#RealStrategy || @RESULTSdotcom
Get the slide deck:www.RESULTS.com/slides
Get the software demo:www.RESULTS.com
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Full participation
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Ask for everyone’s point of view
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Productive conflict is important
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No “group think”
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Make a clear decision
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Everyone commits to the decision
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Access your Strategic Plan from the software
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RESULTS.com - One Page Strategic Plan
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Strategy Centre Thought Leadership Library
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1. Reflection and lessons2. Strategically analyze your industry
3. Confront your current reality like a VC4. Create Strategic Projects and Tasks
Agenda
Questions / Answers:#RealStrategy || @RESULTSdotcom
Review Strategic Execution
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
What were the notable achievements you / your team accomplished? List your answers below:
Questions / Answers:#RealStrategy || @RESULTSdotcom
What did you START doing that has been of value?
List your answers below:
Questions / Answers:#RealStrategy || @RESULTSdotcom
What did you STOP doing ?
List your answers below:
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Questions / Answers:#RealStrategy || @RESULTSdotcom
How effectively did you measure progress and keep it visible?
List your answers below:
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In the past, we used Spreadsheets / MS Excel
Questions / Answers:#RealStrategy || @RESULTSdotcom
Now we use software
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Key Performance Indicators / Key Metrics
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Everyone knows their own individual accountabilities
Questions / Answers:#RealStrategy || @RESULTSdotcom
They can also see how the entire team is performing
Questions / Answers:#RealStrategy || @RESULTSdotcom
Team leaders can drill down to identify the cause
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Looks like one person is holding the team back
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What are the reasons for this trend?
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Take action to diagnose and solve the problem
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How well did you hold each other accountable for hitting KPI “Green” thresholds, & achieving Task deadlines?
List your answers below:
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Questions / Answers:#RealStrategy || @RESULTSdotcom
What valuable lessons did you learn during the last planning cycle?
List your answers below:
Questions / Answers:#RealStrategy || @RESULTSdotcom
1. Reflection and lessons2. Strategically analyze your industry
3. Confront your current reality like a VC4. Create Strategic Projects and Tasks
Agenda
Questions / Answers:#RealStrategy || @RESULTSdotcom
What is Strategy?
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
"If everything you do needs to work on a 3 year time horizon, then you're competing against a lot of people.
But if you're willing to invest on a 7 year time horizon, you're now competing against a fraction of those people, because very few companies are willing to do that.
We can't realize our potential as people or as companies unless we plan for the long term."
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
“Companies need to operate with one eye focused on
the short-term, and one eye focused on the long-term.
Short-term is about projects related to improving
the current core business, and meeting the needs
of today’s target customers.”
Philip Kotler
Questions / Answers:#RealStrategy || @RESULTSdotcom
“Long-term is NOT about performance
improvement.
It is about forgetting the past
and reshaping the business to compete more effectively
in the future.
Often, this demands bold, disruptive strategic moves
away from the present to reshape the company
for future success.”
Philip Kotler
Questions / Answers:#RealStrategy || @RESULTSdotcom
Gary Hamel
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Digital Darwinism = when technology and society
evolve faster than your company’s ability to adapt
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It is not the strongestwho survive, nor
the most intelligent,but the ones
most responsiveto change
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Industry Analysis
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RESULTS.com - One Page Strategic Plan
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
“The questions remain the same.
It’s the answers that keep changing”
Albert Einstein
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Don’t know the answer to a question?
You need to know!
What will you do to find out?
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Rivalry between existing competitors
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Who are your Key Competitors? (the “players”) What moves are they likely to make?
( Industry life cycle: introduction > growth > maturity > decline / Industry growth rate / Industry profitability / Number of competitors / Market share / Capital requirements / Globalization / Commoditization / Cost advantages / Economies of scale /
Friendly vs. Aggressive competition)
List your answers below:
Questions / Answers:#RealStrategy || @RESULTSdotcom
New Entrants
Questions / Answers:#RealStrategy || @RESULTSdotcom
Microsoft Office
Google Apps
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Questions / Answers:#RealStrategy || @RESULTSdotcom
"Firms are remarkably creative in defending their entrenched technologies, which often reach unimaginable heights of elegance and design and technical performance only when
their demise is clearly predictable.“
James Utterback
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“ Out there in some garage is an entrepreneur who's forging a bullet with your company's name on it.
You've got one option - shoot first ” Gary Hamel
Questions / Answers:#RealStrategy || @RESULTSdotcom
What New Entrants could disrupt you?( Industry barriers / Capital requirements / Learning requirements / Access to supplies / Access to distribution / Performance
vs. incumbents / Perceived differentiation in customers’ mind / Loyalty to incumbents / Switching costs / Retaliation by incumbents / “Innovator’s dilemma”)
List your answers below:
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Substitutes
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
What Substitute products / services could disrupt you?( Technology changes / Industry structure changes / Availability of substitutes / Performance of substitutes / Perceived
differentiation in customers’ mind / Switching costs / Customer desire to seek out alternative solutions to satisfy their need)
List your answers below:
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Suppliers
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“Who” or “What” do you need to pay for to run your business?
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Who are your Key Suppliers? What moves are they likely to make?
( Cost of supplies / Negotiating power of suppliers / Access to alternative sources of supply / Switching costs / Forward integration – supplier becomes competitor)
List your answers below:
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Customers
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Who are your Key Customers? What moves are they likely to make?
( Customer demographic and psychographic description / Power to dictate prices or terms / Ability to influence other customers / Customer reviews / Perception of differentiation between vendors / Loyalty / Switching costs / Backward
integration – customer becomes competitor)
List your answers below:
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Political Factors
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
What political factors / laws / regulations are likely to impact you?
( Industry specific regulations / political spectrum left vs. right / political stability / laws / taxes / trade policy / wars / environmental issues / health / safety / consumer laws / employment laws)
List your answers below:
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EconomicFactors
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
What economic factors / changes in buying behaviors are likely to impact you?
( Economic growth / interest rates / exchange rates / inflation / availability of credit / investor interest in your industry / discretionary spending
changes in customer purchasing habits / use of debt and leverage vs. more frugal spending / new forms of payment)
List your answers below:
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Social Factors
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
What social factors / trends / attitudes / behaviors are likely to impact you?
( Demographic trends / career attitudes / health issues / environmental concerns / communication styles / social behaviors / online behaviors / media consumption / purchasing behaviors / cultural differences / generational differences / income
equality / society’s evolving attitudes, values & beliefs)
List your answers below:
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Technology Factors
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Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
What technological factors / trends / are likely to impact you?
(New technologies / Rate of technology adoption / Impact of internet and mobile / Social media / New devices & interfaces / Jobs replaced by technology / Business models disrupted by technology)
List your answers below:
Questions / Answers:#RealStrategy || @RESULTSdotcom
“Leaders must decide:
What is our business?
What should it be?
What is not our business?
What should it not be?”
Peter Drucker
Questions / Answers:#RealStrategy || @RESULTSdotcom
“Strategy is resource allocation.
When you strip away all the noise, that’s what it comes
down to.
Strategy means making clear cut choices about how to
compete.
You cannot be everything to everybody.
You have to figure out what to say NO to”
Jeff Immelt
Questions / Answers:#RealStrategy || @RESULTSdotcom
“Many managers do not understand the importance of having a clear strategy.
Strategy is about making trade-offs.
The essence of strategy is choosing what NOT to do.”
Michael Porter
Questions / Answers:#RealStrategy || @RESULTSdotcom
“The difference between successful people
and very successful people is that very successful people say "no" to almost everything”
Warren Buffett
Questions / Answers:#RealStrategy || @RESULTSdotcom
“The difference between successful people
and very successful people is that very successful people say "no" to almost everything”
Warren Buffett
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
What do you need to START doing? (Because it is strategically important for your long term success = “Core”)
List your answers below:
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
What do you need to STOP doing? (Because it no longer serves you / not working out / purposeful abandonment = “Non
Core”)List your answers below:
Questions / Answers:#RealStrategy || @RESULTSdotcom
RESULTS.com - One Page Strategic Plan
Questions / Answers:#RealStrategy || @RESULTSdotcom
1. Reflection and lessons2. Strategically analyze your industry
3. Confront your current reality like a VC4. Create Strategic Projects and Tasks
Agenda
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Describe your current reality
and make it obvious !!
Questions / Answers:#RealStrategy || @RESULTSdotcom
Strengt
hs
Weakness
es
Opportuniti
es
Threats
Questions / Answers:#RealStrategy || @RESULTSdotcom
“Our people” is not a strength What is it about your people that makes your team strong?
E.g. “Highly qualified software engineers”
“Marketing” is not a weakness What is it about marketing that is weak currently?
E.g. “Insufficient # of target customer leads”
“Communication” is not a weakness What is not being communicated? E.g. “Strategy not well understood”
Be specific with your SWOT: Use 3-5 word phrases
Questions / Answers:#RealStrategy || @RESULTSdotcom
Think like a VC
Questions / Answers:#RealStrategy || @RESULTSdotcom
What are the top strengths / assets / competencies within your business you can leverage (or build) in
the next 12 months?
Rank your Top 5 Strengths in order:
Questions / Answers:#RealStrategy || @RESULTSdotcom
What are the biggest weaknesses within your current business that could be fixed or improved in the
next 12 months?
Rank your Top 5 Weaknesses in order:
Questions / Answers:#RealStrategy || @RESULTSdotcom
What opportunities can you pursue over the next 12 months
that will position your company for future success?
Rank your Top 5 Opportunities in order:
Questions / Answers:#RealStrategy || @RESULTSdotcom
What external threats do you need to reduce (or closely monitor) to ensure they do not derail your
plans?
Rank your Top 5 Threats in order:
Questions / Answers:#RealStrategy || @RESULTSdotcom
RESULTS.com - One Page Strategic Plan
Questions / Answers:#RealStrategy || @RESULTSdotcom
1. Reflection and lessons2. Strategically analyze your industry
3. Confront your current reality like a VC4. Create Strategic Projects and Tasks
Agenda
Questions / Answers:#RealStrategy || @RESULTSdotcom
Current Strategic Projects
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
“Every leader needs to clearly explain the top 3
things the company is working on.
If you can't, then you're not leading
well”
Jeffrey Immelt
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
Strategic Projects & their associated Tasks
Questions / Answers:#RealStrategy || @RESULTSdotcom
“Help” menu - How to set up Projects and Tasks
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
SpecificMeasurableAchievableRelevantTime bound
S
A
M
R
T
“SMART” Projects
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
What are the top 3 Strategic Projects your company (or team) needs to execute in the coming period?
- Each must address 1 or more issues described in your SWOT analysis (relevant)- Describe the tangible end-point milestones (so you know when to celebrate)- Balance short-term business improvement initiatives ( = improving “what is”) vs. building long-term strategic capability for the future ( = creating “what will be”)
Current Strategic Project DueDate
Person Accountable
1.
2.
3.
Questions / Answers:#RealStrategy || @RESULTSdotcom
RESULTS.com - One Page Strategic Plan
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Many people can be involved in executing each Strategic Project, but only 1 person can be named accountable for the overall outcome
The project leader makes sure everything “gets done” (it does not necessarily mean they do it all themselves)
You may be leader in some projects and a follower in others
Single Point Accountability
Questions / Answers:#RealStrategy || @RESULTSdotcom
Set yourself up to succeed. “Stuff happens”. Fires need fighting.
Set realistic outcomes and due dates that take into account “stuff happens” - yet still achieve your milestones.
Don’t underestimate the difficulties and challenges you will face.
Your colleagues are counting on you. Only make promises that you know you will be able to keep.
Balance Optimism with Realism
Questions / Answers:#RealStrategy || @RESULTSdotcom
90% of those who join health and fitness clubs will stop going within the first 90 days.
International Health Club Association
Questions / Answers:#RealStrategy || @RESULTSdotcom
Strategic Project #1 Due Date Person Accountable
Associated Individual Tasks
Questions / Answers:#RealStrategy || @RESULTSdotcom
Strategic Project #2 Due Date Person Accountable
Associated Individual Tasks
Questions / Answers:#RealStrategy || @RESULTSdotcom
Strategic Project #3 Due Date Person Accountable
Associated Individual Tasks
Questions / Answers:#RealStrategy || @RESULTSdotcom
90% of your time is spent on “Business as usual” activities
You still need to create opportunities, make sales, deliver products and services, and collect money….
i.e. the things you do every day to pay the bills.
Set aside 10% of your time ( ½ day) every week for strategic execution. Aim to complete 1 specific meaningful task
“the #1 thing” that will move each Strategic Project forward.
Make time for Strategic Execution: The #1 Thing
Questions / Answers:#RealStrategy || @RESULTSdotcom
What does being accountable overall for the execution of a Strategic Project mean?
– You make sure everything “gets done” related to this Project
– Colleagues with associated Tasks report to you as “project leader”
– You meet with the project team on a weekly basis to make sure:– Current status of the Project is up to date (% complete / color / commentary)
– You are aware of issues / delays - and know when it will actually be completed
– The #1 TASK to move each project forward each week is agreed and visible
– You help source the necessary support to keep things on track
– You report to the company leadership once per week showing that you fully
understand what is happening and have things under control
Questions / Answers:#RealStrategy || @RESULTSdotcom
Using software to track projects
Questions / Answers:#RealStrategy || @RESULTSdotcom
RED = Project behind schedule. Sound alarm!
YELLOW = Watch closely. Need help?
GREEN = Project on schedule
Strategic Projects
Questions / Answers:#RealStrategy || @RESULTSdotcom
Home page for Accounting firm owner
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Team View
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Drill down into the Accounting Team
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Team View
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Project Goal with associated Tasks
Questions / Answers:#RealStrategy || @RESULTSdotcom
Project Goal with associated Tasks
Questions / Answers:#RealStrategy || @RESULTSdotcom
How will you keep progress visible on your Projects?How will you hold people accountable for Task
achievement?List your answers below:
Questions / Answers:#RealStrategy || @RESULTSdotcom
Get the slide deck:www.RESULTS.com/slides
Get the software demo:www.RESULTS.com
Connect with Stephen Lynch:
Questions / Answers:#RealStrategy || @RESULTSdotcom
Questions / Answers:#RealStrategy || @RESULTSdotcom
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