September 7, 2006
"I felt that I could make a difference. That's the best reason to go into business."
Richard Branson, Chairman,
Virgin Group
 
 
 

How to Guide: Thinking About Tomorrow Today

As we head into the strategic planning season, take a few moments to consider the legacy you want your business to leave. Will it continue on indefinitely or pass to your children or employees? Do you plan on cashing out or will it just cease to exist? Many entrepreneurs are not clear about what their businesses will look like without them - leaving their exit strategy to chance instead of intention. Bottom line - the ownership of the business someday will be transferred either due to careful planning, death or unforeseen life changes.

 
Talking Points: Failing to Plan is Planning to Fail

Need talking points to convince your boss or board of directors to do a strategic plan? Here are some points to help you make your case:

If organizations fail to anticipate or prepare for fundamental changes, they may lose valuable lead time and momentum to combat them. These fundamental elements of business are customer expectations, employee morale, regulatory requirements, competitive pressures, and economic changes, and they're always in flux. Many times businesses achieve a level of success and then stall. Strategic planning helps you to avoid the stall and get off the plateau you find yourself on. Accidental success is dangerous.

Succeeding without a plan is possible, and plenty of examples exist of businesses that have achieved financial success without a plan. If you're one of them, consider yourself lucky, but ask yourself this questions: Could you have grown and become even more successful if you were better organized? I'm willing to bet your answer is yes.

Another danger is that the lack of a strategic plan negatively impacts the attitude of an organization's team. Employees who see aimlessness within an organization have no sense of a greater purpose. People need a reason to come to work everyday (besides the a paycheck). Lack of direction results in morale problems because, as far as your employees are concerned, the future is uncertain, unpredictable, and out of control. These depressing conclusions can only be seen as a threat to employment, which negatively impacts productivity.

To avoid these dangers, you need to get rid of the naysayers (including possibly yourself). Questioning the value of strategic planning is normal because planning can be intense and costly, but if the attitude that planning isn't necessary becomes part of your corporate culture, it can prove deadly.

Look for additional talking points in up-coming StrategyChecks!



Case Study: Strategy Standout - Girl Scouts

How much confidence do you have in your strategic plan? Judging from Girl Scouts' website they are bursting with assurance. They have boldly posted their plan front and center for the world to see. Clearly they are excited and confident about the future of their organization. The tactics Girl Scouts have applied to the structure of their strategic plan are impressive. They have developed six teams who are responsible for the different areas of planning called the Gap Teams who have developed a pathway to bridge the "gap" between where Girl Scouts is today and where they want to go in the future. The teams were arranged by function and each has a very diverse group of members working towards their goals.

Girl Scouts have also been busy promoting open discussions on strategy topics relevant to their organization. Topics for "Strategy Cafes" have been posted on the Girl Scouts' website for members to gather thoughts and ideas for future sessions. The first "Strategy Cafe" was a success where members shared ideas, creative thinking and fresh insight to be used in the planning process.

Girl Scouts have posted more details about their Core Business Strategy on their website: http://www.girlscouts.org/strategy/ .

Competitive markets force many of us to keep our strategy under wraps. If that weren't the case, would you be confident enough to post your strategic plan for the world to see?

Tell us what you think here.

 

Use Our Tools: Determine Your Strategic Position

If you want useful information about your company's role in the market, you have to look at both the internal elements (within your organization) and the external (the marketplace). Our open-access SWOT tool analyzes your strategic position and helps you look critically at your company and its environment. Check it out here


Ask Our Experts:
 
Need help with a strategy development or execution problem? Submit your question to our experts.
Your Thoughts?
 
StrategyCheck is written to deliver business strategy philosophies and tips for entrepreneurial spirited organizations.
E-mail us and tell us how we can improve it.

 
We created our company to help business owners realize their vision by organizing their strategy with the end goal of responsible growth and community impact. We are a resource center for everything related to strategy - software, books, articles, workshops and facilitations.
 
Learn more about us.
Or visit us on the web: www.mystrategicplan.com