I often get asked about the culture of our companies. Other business owners wonder how we can get so much done and seem to have so much fun. The answer is autonomy, our team knows what we need to get done and they understand the parameters within how to accomplish those goals.
Getting motivated to write is tough. It has been months since I started this series and I have started, put off, continued and started again. I have had the best luck writing these on a plane which is where I am now – flying from Nashville through Toronto back to Calgary.
Topics: BHAG, business, business strategy, Business Tips, gazelles, marketing, office, Office Equipment Dealers, one page, plan, Rockefeller Habits, sales, selling, Service, strategic, strategy, success, team, team building, tips, weaknesses
In my previous blog post, Conducting a Killer Planning Session with your Team, we covered days 1 and 2 of the year end planning I do with my companies. Now we’ll dive into the final day: The One Page Strategic Plan.
I am debating in my head just how much to go down this rabbit hole.
What I mean is Verne Harnish and his team at Gazelles have come up with a beautiful way to take your priorities and get them into a format that clearly defines them and how you will achieve them. His book, Mastering the Rockefeller Habits, is the ultimate blueprint to putting this plan together. I would suggest that you at minimum read the book, but ideally, you should also consider having a trained facilitator take you through this process.
For those new in the ways of the One Page Strategic Plan here are some hints:
1. Mission Vision and Values. Don’t even get started on this process if you don’t already have your company’s Mission, Vision and Values figured out. These are so important to building a strong company and they should be part of your DNA.
2. Sandbox. I know you want to sell to the world, but you can’t. Try to be very focused on who your customer is.
3. Big Hairy Audacious Goal (trademarked by James Collins). Be bold, be measurable.
4. Critical Numbers Boxes. These are measurable items that offset each other. They make sure to show you are succeeding (or not) in your chosen direction. There also needs to be a measurable that shows your concentration on your priorities is not negatively affecting other parts of your business. For example, if you have a new customer target as your number one priority, then your offset should be setting a goal for current customer retention to make sure it is not sliding.
5. Length of the plan. How many years should it be? My rule of thumb for smaller companies is the period of time it took to double in revenue before. For larger companies I would not suggest more than 5 years but make sure your management team will have clear succession so the plan is continued.
6. Make your priorities visible to your team. Have them posted and have measurements like the classic thermometer.
As I mentioned above, this blog could be as long as a book but the books have been written. Read Mastering the Rockefeller Habits by Verne Harnish.
I have no doubt that many of you have come up with great plans! And then a year later you reach in your drawer and find the plan that you did very little to achieve.
The next blog will be shorter and it will give you the first step into executing your plan. Until then.
John MacInnes runs several businesses, including Print Audit. The newest one is Payroll by Credit Card where they help business owners pay their payroll on their credit card and collect tons of loyalty reward points for themselves.