In this workshop Stephen Lynch guides you through a curated selection of some of the key elements of the RESULTS.com strategic planning process to help you identify the current issues facing your business, and then align and focus your team on the key strategic moves you need to make to set your company up for success.
Plus you’ll see examples of how you can use the RESULTS.com management software platform to fully engage your people in the execution of your chosen Strategic Projects & Tasks, and how to drive increased accountability for performance.
18. Questions / Answers:
#RealStrategy || @RESULTSdotcom
1. Reflection and lessons
2. Strategically analyze your industry
3. Confront your current reality like a VC
4. Create Strategic Projects and Tasks
Agenda
39. Questions / Answers:
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How well did you hold each other accountable for hitting
KPI “Green” thresholds, & achieving Task deadlines?
List your answers below:
41. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What valuable lessons did you learn
during the last planning cycle?
List your answers below:
42. Questions / Answers:
#RealStrategy || @RESULTSdotcom
1. Reflection and lessons
2. Strategically analyze your industry
3. Confront your current reality like a VC
4. Create Strategic Projects and Tasks
Agenda
49. "If everything you do needs to work on a 3 year time
horizon, you're competing against a lot of people.
But if you're willing to invest on a 7 year time horizon,
you're now competing against a fraction of those
people, because very few companies are willing to do
that.
We can't realize our potential as people or as
companies unless we plan for the long term."
51. “This is a fantastic time to be
entering the business world,
because business is going to
change more in the next
10 years than it has
in the last 50”
Bill Gates
53. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“Companies need to operate
with one eye focused on
the short-term, and one eye
focused on the long-term.
Short-term is about projects
related to improving
the current core business,
and meeting the needs
of today’s target customers.”
Philip Kotler
54. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“Long-term is NOT about
performance improvement.
It is about forgetting the past
and reshaping the business
to compete more effectively
in the future.
Often, this demands bold,
disruptive strategic moves
away from the present
to reshape the company
for future success.”
Philip Kotler
59. Questions / Answers:
#RealStrategy || @RESULTSdotcom
Digital Darwinism =
when technology and society
evolve faster than your
company’s ability to adapt
60. “It is not the strongest who survive,
nor the most intelligent,
but the ones most responsive
to change”
71. Questions / Answers:
#RealStrategy || @RESULTSdotcom
Who are your Key Competitors? (the “players”)
What moves are they likely to make?
( Industry life cycle: introduction > growth > maturity > decline / Industry growth rate / Industry profitability / Number of competitors / Market
share / Capital requirements / Globalization / Commoditization / Cost advantages / Economies of scale / Friendly vs. Aggressive competition)
List your answers below:
75. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“ Out there in some garage is an entrepreneur who's
forging a bullet with your company's name on it.
You've got one option - shoot first ” Gary Hamel
76. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What New Entrants could disrupt you?
( Industry barriers / Capital requirements / Learning requirements / Access to supplies / Access to distribution / Performance vs. incumbents /
Perceived differentiation in customers’ mind / Loyalty to incumbents / Switching costs / Retaliation by incumbents / “Innovator’s dilemma”)
List your answers below:
81. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What Substitute products / services could disrupt you?
( Technology changes / Industry structure changes / Availability of substitutes / Performance of substitutes / Perceived differentiation in
customers’ mind / Switching costs / Customer desire to seek out alternative solutions to satisfy their need)
List your answers below:
85. Questions / Answers:
#RealStrategy || @RESULTSdotcom
Who are your Key Suppliers? What moves are they likely to make?
( Cost of supplies / Negotiating power of suppliers / Access to alternative sources of supply / Switching costs /
Forward integration – supplier becomes competitor)
List your answers below:
89. Questions / Answers:
#RealStrategy || @RESULTSdotcom
Who are your Key Customers?
What moves are they likely to make?
( Customer demographic and psychographic description / Power to dictate prices or terms / Ability to influence other customers / Customer
reviews / Perception of differentiation between vendors / Loyalty / Switching costs / Backward integration – customer becomes competitor)
List your answers below:
93. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What political factors / laws / regulations are likely to impact you?
( Industry specific regulations / political spectrum left vs. right / political stability / laws / taxes / trade policy / wars / environmental issues /
health / safety / consumer laws / employment laws)
List your answers below:
100. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What economic factors / changes in buying behaviors
are likely to impact you?
( Economic growth / interest rates / exchange rates / inflation / availability of credit / investor interest in your industry / discretionary spending
changes in customer purchasing habits / use of debt and leverage vs. more frugal spending / new forms of payment)
List your answers below:
105. Baby Boomer
1946 -1964
Generation X
1965 - 1980
Millennial / Gen Y
1981 - 2000
Key life influences Cold War nuclear threat, NASA
moon landing, Vietnam, Civil
rights, Hippie culture
AIDS, Divorce, MTV, Cold War
ending, Personal computer,
Microsoft
Internet, Always connected,
Share everything online,
Facebook, Apple and Google
Work environment Long hours, Office only Formally, Office, Increasingly
working from home
Office, Home, Wherever,
Desires flexible schedule
Work ethic Workaholic, Quality focus,
Team player
Clear direction, Get tasks done,
Self reliant, Free agent
Entrepreneurial, Variety,
Multitasking, What’s next?
Management style Hierarchy, Chain of command Everyone should manage
themselves, Challenge people
Collaboration, Consensus
Personal Motivators Salary, Job title, Feeling valued
and respected
Money, Freedom, Break the
rules and do it your own way
Meaningful work, Work with
creative people, Maintain
personal life
Mentoring Does not like feedback. Does
not take negative feedback very
well
Does not think feedback is
necessary. Will ask for it they
want it
Wants constant feedback, on
demand at the push of a button
Internal
communication
Face to face meetings focused
on process, Memos
Face to face meetings focused
on results, Emails
Face to face participative
discussions, Emails,
Collaboration software
Client
communication
Face to face, Phone Face to face, Phone, Email Email, Social Media, Instant
messaging
Career Goals Climb the ladder at one
company, Job security
Build transferable career with
variety of skills & experiences,
Build a business.
Build several parallel careers or
businesses simultaneously
107. “We are going to have to
reinvent management; the way we
lead, we plan, we organise, we
hire, we motivate... because
today, organisations are facing
a set of challenges that are
truly unprecedented."
– Gary Hamel
108. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What social factors / trends / attitudes / behaviors
are likely to impact you?
( Demographic trends / career attitudes / health issues / environmental concerns / communication styles / social behaviors / online behaviors /
media consumption / purchasing behaviors / cultural differences / generational differences / income equality / society’s evolving attitudes, values
& beliefs)
List your answers below:
123. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What technological factors / trends / are likely to impact you?
(New technologies / Rate of technology adoption / Impact of internet and mobile / Social media / New devices & interfaces / Jobs replaced by
technology / Business models disrupted by technology)
List your answers below:
124. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“Leaders must decide:
What is our business?
What should it be?
What is not our business?
What should it not be?”
Peter Drucker
125. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“Strategy is resource allocation.
When you strip away all the noise,
that’s what it comes down to.
Strategy means making clear cut
choices about how to compete.
You cannot be everything
to everybody.
You have to figure out
what to say NO to”
Jeff Immelt
126. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“Many managers do not
understand the importance
of having a clear strategy.
Strategy is about
making trade-offs.
The essence of strategy
is choosing what NOT to do.”
Michael Porter
127. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“The difference between
successful people
and very successful people
is that very successful people
say "no" to almost everything”
Warren Buffett
128. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“The difference between
successful people
and very successful people
is that very successful people
say "no" to almost everything”
Warren Buffett
130. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What do you need to START doing?
(Because it is strategically important for your long term success = “Core”)
List your answers below:
132. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What do you need to STOP doing?
(Because it no longer serves you / not working out / purposeful abandonment = “Non Core”)
List your answers below:
134. Questions / Answers:
#RealStrategy || @RESULTSdotcom
1. Reflection and lessons
2. Strategically analyze your industry
3. Confront your current reality like a VC
4. Create Strategic Projects and Tasks
Agenda
138. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“Our people” is not a strength
What is it about your people that makes your team strong?
E.g. “Highly qualified software engineers”
“Marketing” is not a weakness
What is it about marketing that is weak currently?
E.g. “Insufficient # of target customer leads”
“Communication” is not a weakness
What is not being communicated?
E.g. “Strategy not well understood”
Be specific with your SWOT: Use 3-5 word phrases
140. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What are the top strengths / assets / competencies within your
business you can leverage (or build) in the next 12 months?
Rank your Top 5 Strengths in order:
141. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What are the biggest weaknesses within your current business
that could be fixed or improved in the next 12 months?
Rank your Top 5 Weaknesses in order:
142. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What opportunities can you pursue over the next 12 months
that will position your company for future success?
Rank your Top 5 Opportunities in order:
143. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What external threats do you need to reduce
(or closely monitor) to ensure they do not derail your plans?
Rank your Top 5 Threats in order:
145. Questions / Answers:
#RealStrategy || @RESULTSdotcom
1. Reflection and lessons
2. Strategically analyze your industry
3. Confront your current reality like a VC
4. Create Strategic Projects and Tasks
Agenda
148. Questions / Answers:
#RealStrategy || @RESULTSdotcom
“Every leader needs to
clearly explain the top 3 things
the company is working on.
If you can't,
then you're not leading well”
Jeffrey Immelt
155. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What are the top 3 Strategic Projects your company (or team)
needs to execute in the coming period?
- Each must address 1 or more issues described in your SWOT analysis (relevant)
- Describe the tangible end-point milestones (so you know when to celebrate)
- Balance short-term business improvement initiatives ( = improving “what is”)
vs. building long-term strategic capability for the future ( = creating “what will be”)
Current Strategic Project Due
Date
Person
Accountable
1.
2.
3.
157. Questions / Answers:
#RealStrategy || @RESULTSdotcom
Many people can be involved in executing each Strategic Project,
but only 1 person can be named accountable for the overall outcome
The project leader makes sure everything “gets done”
(it does not necessarily mean they do it all themselves)
You may be leader in some projects and a follower in others
Single Point Accountability
158. Questions / Answers:
#RealStrategy || @RESULTSdotcom
Set yourself up to succeed. “Stuff happens”. Fires need fighting.
Set realistic outcomes and due dates that take into account
“stuff happens” - yet still achieve your milestones.
Don’t underestimate the difficulties and challenges you will face.
Your colleagues are counting on you.
Only make promises that you know you will be able to keep.
Balance Optimism with Realism
159. Questions / Answers:
#RealStrategy || @RESULTSdotcom
90% of those who join health and fitness clubs
will stop going within the first 90 days.
International Health Club Association
163. Questions / Answers:
#RealStrategy || @RESULTSdotcom
90% of your time is spent on “Business as usual” activities
You still need to create opportunities, make sales,
deliver products and services, and collect money….
i.e. the things you do every day to pay the bills.
Set aside 10% of your time ( ½ day) every week
for strategic execution. Aim to complete 1 specific meaningful Task
“the #1 thing” that will move each Strategic Project forward.
Make time for Strategic Execution: The #1 Thing
164. Questions / Answers:
#RealStrategy || @RESULTSdotcom
What does being accountable overall
for the execution of a Strategic Project mean?
– You make sure everything “gets done” related to this Project
– Colleagues with associated Tasks report to you as “project leader”
– You meet with the project team on a weekly basis to make sure:
– Current status of the Project is up to date (% complete / color / commentary)
– You are aware of issues / delays - and know when it will actually be completed
– The #1 TASK to move each project forward each week is agreed and visible
– You help source the necessary support to keep things on track
– You report to the company leadership once per week showing that you fully
understand what is happening and have things under control
167. Questions / Answers:
#RealStrategy || @RESULTSdotcom
How will you keep progress visible on your Projects?
How will you hold people accountable for Task achievement?
List your answers below:
168. Questions / Answers:
#RealStrategy || @RESULTSdotcom
Get the slide deck:
www.RESULTS.com/slides
Check out the software:
www.RESULTS.com
Connect with Stephen Lynch: