For our businesses to continue to thrive, we must constantly evolve and adapt to changing needs of the market and our clients. Transformation only happens when we focus on it, and at the beginning of every quarter, it is time to take stock of our areas of focus and determine if we need to change or pivot our direction. Be strategic. Consider the impact of technology, talent, and operational changes to help you continue to grow and remain competitive.

Q1 REVIEW

Strategic focus sustains and builds on an organization’s high performance and effectiveness. Set aside time to conduct a Q1 review:

Step 1: List your three biggest wins and accomplishments from Q1.
Step 2: How far did you get on your Q1 goals?
Step 3: In Q1, list what worked and what didn’t that you can learn from.
Step 4: Define what you will keep doing, improve upon, stop doing and start doing due to this review.
Step 4: List your goals for Q2 and who will be accountable for the results by when.

STRATEGIC FOCUS TIMING

Remember it takes time to define your focus, implement and execute the action.

• • 20% planning
  • 40% implementation and change installation effort
  • 40% sustaining high-performance effort on the direction and plan over the long term

NO STRATEGIC PLAN?

If you don’t have a strategic plan, it is time to work on one. There are three core phases to follow:

Phase One – Assess and Organize

• • Environmental scan and organization assessment

Phase two – Strategic Design and Plan

• • Define company positioning
  • Articulate customer focus
  • Clarify competitive strategies and critical success factors

Phase three – Operational Design

• • Plan priorities
  • Strategic budgets
  • Performance management systems
  • HR management strategies

COMPONENTS OF A WRITTEN STRATEGIC PLAN

There are core components of a strategic plan. The points below can be used as a checklist for you in the design of your plan:

• • Introduction – opening defining your ‘why.’ Include your company vision, mission and values
  • Current State Assessment (SWOT: Strengths – to build on, Weaknesses – to eliminate, opportunities and threats))
  • Environmental Scan
  • Marketplace (segments and characteristics) Analysis: key customers, main products and services, the value of segment, market share percentage, industry competitors, the life cycle of product or service
  • Organizational Goals
  • Key Success Factors (KSF) and Action Plan (Areas of concentration, actions to develop target measures and baseline data, who is responsible and due date)
  • Core Strategies and Actions for Each Strategy
  • Major Change Summary (summary of significant changes desired over the life of the strategic plan) and Change Management Structure
  • Priority Actions (key must-do actions in addition to the day-to-day operations and other stats that you can complete in addition)and Implementation Game Plan
  • Annual Plan Format – break this down into a yearly roadmap

TIPS FOR SUCCESSFUL STRATEGIC PLANNING

1. 1. Have the process facilitated
   2. Take an organization-wide approach and integrate all level planning
   3. Define quantifiable measures of success
   4. Include short and long-term forecasting
   5. Use transparent and straightforward terminology and language
   6. Clarify and benchmark against the competition
   7. Define strategic business units
   8. Make informed budget decisions
   9. Make tough decisions when necessary
   10. Be open to pivoting from the initial direction
   11. Implement an effective process to roll out new initiatives
   12. Empower and support staff to take action on strategic initiatives

Acknowledge that the process does not end once a document is produced. It needs to be executed on, implemented, evaluated and measured. Your strategic plan has to be a living document, one that is continually reviewed.

HOW WELL ARE YOU DOING?

On a scale of 1-5 rank (1 being the lowest and 5 the highest), your organization on the following:

1. 1. A culture of excellence
   2. Accountability of resource
   3. Effective and efficient business processes
   4. Collaboration and teamwork
   5. Communicated long term vision and direction
   6. Constructive problem solving
   7. Continuous process improvements
   8. Data based decisions
   9. Employee empowerment
   10. Equality of opportunities
   11. Facilities and equipment
   12. High staff productivity and performance
   13. Innovation and creativity
   14. Job design and descriptions
   15. Marketplace competitiveness
   16. Performance appraisals
   17. Profitability consciousness
   18. Quality production of products/delivery of services
   19. Resilience level to adaption to change
   20. Resources (monetary and other)
   21. Reward systems
   22. Staffing levels
   23. Team development
   24. Technology
   25. Visionary leadership

STEP ONE: Highlight any score below three
STEP TWO: Brainstorm action that could be implemented on low scoring areas to raise your rank
STEP THREE: Attain buy-in on identified actions, implement and execute

Plans are of little importance, but planning is essential.

~ Winston Churchill

If you would like more information on strategic planning, and you need someone to keep you accountable through this process, I can be contacted at +1-604-616-1967 or jenny@jennyreilly.com. If you want monthly leadership tips, sign up for my JRC newsletter or check out my social media on Instagram for top leadership advice throughout the year.