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60 Minute Strategic Plan Webinar
 

60 Minute Strategic Plan Webinar

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Anne Marie Smith, President of 60 Minute Strategic Plan, takes us through the 12 different steps of strategic planning. ...

Anne Marie Smith, President of 60 Minute Strategic Plan, takes us through the 12 different steps of strategic planning.

Learn more about 60 Minute Strategic Plan at http://www.60minutestrategicplan.com/

Webinar video: http://www.youtube.com/watch?v=oh-mpWl_lHM

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    60 Minute Strategic Plan Webinar 60 Minute Strategic Plan Webinar Presentation Transcript

    • Small BusinessPlanning in 12 St Steps
    • Earn Showcase Trust using TrustedBusiness.com T t dB i TrustedBusiness.com is a totally FREE service to help y y p you earn and showcase trust. Five easy steps: 1. Signup at TrustedBusiness.com 2. Create your business page 3. Promote among your customers/network to get endorsements 3 P t t / t kt t d t 4. Gain shields and badges to showcase trust 5. 5 Earn great perks from partners  Create your page today to claim your URL. There is no downside. You will get many benefits including SEO, if you have a page that is endorsed by many social identities.
    • 60 Minute Strategic Plan g Simple Flexible Can be C b applied t any i li d to issue llarge or small ll It’s a proven process that’s been used with much success by over 10,000 businesses since 1997
    • Strategic Planning g gVision  Reality Intentions  Results Purpose Performance THINKING PLANNING ACTING
    • Strategic Planning g g A course of action  Productivity to address  Profitability  Revenues problems or  Management succession opportunities  Market positioning Identifies the  Geographic expansion desired vision and  New products and services the objectives, objectives strategies, tactics, measures, measures and actions
    • The ProcessWhere How
    • Step 1: Issue
    • Issue An opportunity for, or obstacle to growth for to, Which to choose?  Highest priority  Most impact
    • Strategic Issues… g Improve competitiveness Create a customer benefit Need t N d extra effort or performance ff t f Ability to implement
    • Clues to Your Issues Culture  Customers Purpose and direction  People Structure and  Production delegation  Service Information and control t l Finances
    • Indigo, Inc. g , 200 employees Employee average age = 43 30% will retire i 5 years ill ti in 49% will retire in 10 years They must prepare for the turnover and loss of knowledgeg
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Step 2: St 2Assumptions
    • Assumptions pBeliefs as to why your strategic issue isimportant  Inaction Worst-case scenario  Unsolved  Action  Best-case scenario  Solved
    • Assumptions… p Are reasons to finish regardless of the obstacles Answer: “Why are we spending the extra Why effort and resources?” A your ROI Are
    • $ Difference Financial business impact over time Rationalizes the ROI for diverting and spending resources $100K X 3 years = $300K
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Indigo, Inc. g , Unsolved: • Declining skills and lost knowledge • Lack of leadership • Employees bored and may leave S l d Solved: • Transfer of skills and knowledge • Leaders developed • Employees challenged and motivated
    • Indigo, Inc. g ,$200K/year X 10 years = $2M
    • Step 3: Values
    • ValuesOperating philosophies or principles thatguide an organizations conduct • Integrity • Customers are #1 • Risk Tolerance • Results • Open Communication O C i ti
    • Values Beliefs and behaviors needed to resolve this specific issue Example Issue: Create an employee ownership equity program Value: Marketplace agility x Value: Share the rewards 
    • How Measured? Measure = Manage Example • V l Value: H Happy E l Employees • How Measured? R d Reduce employee t l turnover b 50% by  Increase job satisfaction to 100%  Moral improved by 10% a year
    • Measuring Values g How do you know if your values are exemplified by your workers if you don’t measure them? So, make sure you can measure your values because you choose two to track and measure in an upcoming step.
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Indigo, Inc. g , Effective and knowledgeable leadership Personal accountability Teamwork and cooperation
    • Step 4: Vision
    • VisionThe best imaginable outcomes for the issue AB FAB BHAGs ABsolutely FABulous Big y Hairy Audacious Goals Stretch
    • Currently Impossible y p You already be doing them if they weren’t weren t Don’t constrain yourself with realistic or practical AB FAB BHAGs Doable
    • Quantify y Specific Measurable Ambitious Reviewable Time boundIf you don’t know, guess If d ’t kThe more clear and precise your vision, the more compelling
    • Vague vs. Quantifiable gVague: Increase revenueQuantifiable: Double sales force productivity in 3 years from $200K to $ $ $400K p salesperson; per p ; gross margin no lower than 50%.
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Indigo, Inc. g , Create a formal cross training program by cross-training the end of Q1 2012 C t and i l Create d implement a mentor program t t by end of Q2 2012 Reduce training redundancy by 50% by end of Q3 2012
    • Step 5: St 5CustomerBenefits
    • Customer Benefits Customer payoff from the vision Your company does not make money—it provides products or services; in exchange, customers pay youC t Customers validate your vision b lid t i i by investing in it (that is, your company) They are, in effect the VC for your plan
    • Customer Benefits Your vision must address your customers’ customers needs How do the outcomes for this strategic issue measurably contribute to my customers customers’ success? Quantify your customers’ ROI in your vision. I it cheaper, f t and better? By i i Is h faster, d b tt ? B how much?
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Indigo, Inc. g , Answer questions in one phone call Higher customer satisfaction than competitors b 25% i one year tit by in
    • Step 6: OtherSt 6 OthBeneficiaries
    • Other Beneficiaries Co-workers and others needed to help Co workers resolve the issue. This can include: • Employees • Shareholders • Vendors • Alliance partners B i =i l Buy in implementation t ti What payoff will they receive from the vision?
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Indigo, Inc. g , Employees: For each new verifiable skill employees learn within 18 months they will receive a bonus Vendors: Will increase the volume of business they do with them on an average of 25% p y g per year Owners: The company will increase in value by p y y 50% within 3 years, so the owners will see their financial equity increase
    • Step 7: St 7Vital Signs
    • Vital Signs g Measurements to audit track and adjust audit, track, your plan (key performance indicators) Track plan progress Indicate if corrective actions are needed
    • Which to Choose? Those that reinforce the accomplishment of the issue’s visionary outcomes Select up to eight from: • Values (step 3) • Vision (step Vi i ( t 4) • Customer Benefits (step 5) • Other Beneficiaries (step 6)
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Values Effective Leadership Measurement: Employee job satisfaction survey Accountability Measurement: % of commitments every employee meets or exceeds
    • Vision Cross training program Measurement: In place by Q1 2012 Mentor program Measurement: In place by the end of Q2 2012
    • Customer Benefits Customer questions Measurement: Total percentage answered in one call Customer satisfaction Measurement: 25% higher in one year
    • Other Beneficiaries Employee growth opportunities Measurement: # new skills gained in 18 months Shareholder equity Measurement: 50% increase in 3 years
    • Step 8: St 8Obstacles
    • Obstacles Obstructions to the vision Make vision currently impossible BHAGS = BH performance gap f A T C Effort L S E Innovation B O S Current Vision Vi i Reality Performance Gap
    • Obstacles Frame obstacles in a constructive manner Turn them from negatives into positives and excuses into challenges “How to” (or H2)
    • How to (H2) ( ) x We lack urgency How to (H2) createa sense of urgency
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Indigo, Inc. g , H2 obtain budget to create a mentor program H2 determine skills and competencies needed for leadership positions H2 identify duplication of training efforts H2 motivate employees to participate in programs
    • Step 9: Strengths,Weaknesses,Weaknesses and Opportunities
    • S, W, and O’s , , What you have going for and against your issue/vision • What you have to work with (strengths you can build on) • What you don’t have to work with don t (weaknesses to correct or finesse) • Immediate opportunities that you can leverage Stay specific to your issue and vision
    • Example p Vision: Develop a best-in-class R & D best in class facility X Great dental coverage  E l fi PhD Employ five PhDs
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Strengths g Managers and supervisors are highly- highly skilled and well-educated Work culture supports innovation, risk innovation risk- taking, and sustainable change
    • Weaknesses No in-house training staff in house Lack of training tracking system
    • Opportunities pp Distance learning technology Leverage local university continuing ed leadership program
    • Step 10: StrategicInitiatives
    • Strategic Initiatives g Performance gaps that need to be closed closed. Select from: • Obstacles in step 8 • Weaknesses in step 9 Identify up to three gaps (to start) If you take on too many, you are all likely to t t get overloaded l d d
    • Which gaps first? g p Select those that that… • Are of the highest priority • Must be closed first sequentially Example: • Issue: S the business Sell • First gap to close: Determine market value Once you close a gap, replace it with another open gap
    • Strategic Initiatives g For each item you select describe: select, • The status quo of the gap—the current From state) • The successful transition needed—the desired To state From To “As Is” “Want to Be” Performance Gap
    • Initiative Champions p Assign one strategic champion or owner champion, owner, per initiative Responsible for executing and completing the initiativeD l Delegates t k and f ll t tasks d follows up
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Indigo, Inc. g , Mentor Program g From: None To: Formal program Training Budget From: Minimal To: Adequate Leadership Curriculum p From: Ad hoc To: Formal program
    • Step 11:Actions
    • Actions Activities necessary to close a performance gap What must be done to take a From to a To
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Indigo, Inc. g ,Mentor Program From: None To: Formal programActions: • Define the scope and participation • Identify and train mentors • Create mentoring website g • Create definition of success • Create recognition p g g program • And so on…
    • Step 12: Title
    • Title Gives the project an identity Makes it easier to communicate about the plan Is a rallying cry Vision in 3 to 5 words
    • Indigo, Inc. g , Issue: Workforce Planningand L d hi D d Leadership Development l t
    • Indigo, Inc. g ,Leaders Developing Leaders
    • We’re done!You have learned a simple and flexibleplanning process you can use to create aplan that you can begin to implement rightaway …except… except Most Strategic Plans Never Get Implemented
    • Free and Paid Accountswww.60minutestrategicplan.com/register