Most companies know where they want to go, but do you have a clear plan on how to get there? By creating a strategic road map, you can achieve clarity on goals, objectives and action steps a year or more in advance.
Don’t know where to start? Here’s a simple five-step process that will guide you on how to develop a plan, who should be part of the planning process, and how to keep it simple and easy to use.
Step 1: Identify goals
Before you venture out on any journey, it’s best to confirm where you’re going and who’s responsible for getting you there on time and on budget. What are your organizational goals? Where do you want to be in six months, a year, three years? What resources can you put toward accomplishing your goals? And who needs to be along for the ride to ensure a successful trip? By answering these questions upfront, you will have a means to measure and guide your strategic planning process, progress and outcomes.
Your identified team may consist of eight to 10 leaders within your business, perhaps someone from sales, operations, marketing, production, HR, quality assurance or other key functions within your company. But be sure to identify one or two key decision-makers who will take ownership of the plan and help to foster it through the process.
Your goals at the first stage can be big and lofty. Maybe you want to grow your business, increase sales, decrease production costs, improve quality or build customer loyalty. Whatever they may be, list them clearly and make them measurable with identified value-based targets and desired deadlines.
Step 2: Examine possibilities
Next, you’ll want to plan for the ups and downs of the trip. A good SWOT (strengths, weaknesses, opportunities and threats) analysis is a great place to start. List all the things that set you apart from the competition, where you can differentiate yourself from the others, and what potential roadblocks you may encounter along the way. Be honest about what your competition does better than you. And critically examine the unique value you offer to your customers.
Other valuable exercises at this stage—such as a cross-industry review, brainstorming activities and advice from external experts—also can inform your plan and help you identify all the opportunities that exist. Look to leaders in other markets and see what makes them successful.
Glean ideas about how to apply an approach to customer service, technology, production, or any other area of business to the way you operate or market your company. Additionally, bring your team together for an ideation session. Brainstorm ideas about strategies and tactics to achieve your goals.
One particular brainstorming activity that can be useful in large groups is an exercise we call “left-brain, right-brain.” Divide your group into two categories: those who are more inclined to be right-brain, intuitive, unconventional thinkers, and those who are left-brain, logical and rational in their thought process.
Assign each group a limited time to come up with 50 new ideas to achieve your goals. The resulting lists will likely be longer than you requested and you’ll be amazed at how quickly they’re generated. Why does this happen? Because each person feels comfortable in his or her own like-minded “brain group.” The list of ideas will be diverse in comparison—covering both rational and imaginative spectrums.
Step 3: Develop a plan
Once you’ve fully examined all the opportunities in your market and creative ideas to achieve success, you’ll be ready to document your strategic plan. Start by narrowing your focus and determining the strategies that fit best with your goals.
List all the big ideas and identify the specific tactics that would go with each strategy. Then, judge each one critically. Which ideas are possible to accomplish within your budget and timeframe? Which ideas will inspire your customers or your internal staff? Which ideas solve the problem the best or have the most likelihood for success?
Be sure to measure your options against your initial goals. How well do they support your objectives? Is your core team excited about them? Do some research if needed to confirm plan details, then edit and refine the ideas until you have your plan in place.
Remember to keep it simple. This doesn’t need to be a 20-page document. The best plans, those that are most likely to be followed, fit on one to two pages. It should list your goals, a summary of each strategy, and a simple listing of the supporting tactics.
Step 4: Map it out
Now that you have a plan, create a useful tool to keep your team on track. Most of us are deadline-driven and better able to stay on top of goals when we have visual reminders. Turn your plan into a calendar that illustrates your strategies, tactics and team responsibilities. Keep it simple, yet specific enough to indicate expectations and accountability for each item. Include a way to specify when key steps have been completed and a place to track specific results or key learnings.
Step 5: Take action
With your strategic road map in place, you’re ready to put your plan into action. Be sure to set up a system to support your team and keep things moving in the right direction.
Establish a standing monthly meeting with team members to review what’s been completed, what needs doing next, and what may need to shift or change. Be sure to track results and report on the successes and failures along the way so you can learn and improve as you go.
If you follow these steps, your goals will be top of mind, your strategies and tactics will be clear, and your plan will be simple but effective in achieving the results you expect.
