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Time to Level Up! Learn the Eight Strategic Steps Your Company Needs to Shift to a Higher Gear in 2019

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Start the year off right by learning the eight strategic steps you need to take your company from the middle of the pack to the top of the pyramid. Companies often struggle with developing and implementing strategies that lead to dramatic performance improvements. This Lunch & Learn will reveal the key steps your company needs to take in 2019 to reach that next level of growth and profitability.

In this highly interactive session, guests will learn:

- How to make the “right” first, and most critical, step to executing your new strategy in the new year
- How to focus resources for targeted wins vs. a “boil the ocean” approach
- How to examine real alternatives vs. being hijacked by preconceived biases
- How to eliminate bureaucracy and create a “micro-enterprise” mindset

Published in: Business
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Time to Level Up! Learn the Eight Strategic Steps Your Company Needs to Shift to a Higher Gear in 2019

  1. 1. Level UP! Eight Strategic Steps to a Higher Gear in 2019 Scott Hamilton, Managing Director, Nextworks Strategy CEO, Executive Next Practices Institute January 11, 2019
  2. 2. Temporal Landmark January 11, 1838 First public demonstration of telegraph message sent using dots & dashes at Speedwell Ironworks, Morristown, New Jersey by Samuel Morse and Alfred Vail
  3. 3. Lunch and Learn Objectives 1) Opportunity to bring people to the Cove and highlight the great ecosystem we have here. 2) Networking and facilitated collisions of like- minded people. 3) Content learning on topics related to innovation and entrepreneurship that will help them on their entrepreneurial journeys. (Caveat- Talking about strategic planning is like boiling the ocean)
  4. 4. Presentation Objectives for Today Start you on a better strategic journey Opportunities and minefields to consider 8 Steps to building a plan you can actually execute
  5. 5. My Background- Strategy, Organization Effectiveness, Leadership, Marketing
  6. 6. ENP Institute (Forums) 10 Years, 300 + Forums and C-suite/Key Enterprise Leader Collaborations 1015 Speakers, Over 32,800 Attendees “Strategic Transformation”
  7. 7. Next Practices Ideas, processes, concepts and solutions that move you beyond the “status quo”. Not “how are others doing it best” but rather, “where do we go from here that represents a true, fundamental shift in value”…
  8. 8. January 24th (evening) Resources for Innovation- The OC Ecosystem
  9. 9. Capability Catalysts •Strategy Development & Offsite Facilitation •Leadership Development •Customer Centricity •Organization Alignment (Immerse Maps ™)
  10. 10. Who is in the room? Revenues more that $1 billion Revenues more than $200 million Revenues more than $10 million Revenues more than $1 million No revenue, but I have great aspirations for 2019!
  11. 11. Industry Sectors Here Healthcare Hospitality Professional Services (consulting) Transportation Technology
  12. 12. Your Obligation Today Participate! If you have a question or a specific value proposition - speak up If you are an EIR or industry expert- share some of your own successes and learning experiences
  13. 13. Who’s Next?
  14. 14. Didn’t see that coming!
  15. 15. Ideas are easy. Execution is everything. John Doerr
  16. 16. What is Strategy? A high level business plan which leverages a company’s unique assets and capabilities to provide a competitive advantage in order to reach its overarching objectives. Goals Objectives (SMART) Scope (in vs. out) Competitive advantage (unique value proposition)
  17. 17. The Minefields Process & Behavioral 1. More ideas are shared on the 5th Fairway (or 3rd Beer) than in the strategy room. 2. Social Dynamics such as Groupthink, Peer Pressure, Pet Projects and Covert agendas can derail results. 3. Execution & results are so far removed from the session there is no causality.
  18. 18. Today’s Environment Requires Agility Strategy Shared purpose & vision Structure Active partnerships & ecosystem Process Action-oriented decision making People Entrepreneurial mindset Technology Evolving technology architecture
  19. 19. First Step- Define Your Quest Identify and define a quest that will drive purpose, passion and commitment- for you, investors, employees, suppliers, strategic alliances, others
  20. 20. Step 2 Get Perspective 1. The Sun Rises in the East? 2. The Sun Rises in the West?
  21. 21. Peripheral vision/holistic perspective
  22. 22. Step 3 Shift Your Strategic Thinking 1. Linear? 2. Exponential?
  23. 23. Crowdsource vs Physical Assets
  24. 24. Step 4 Next Practices- New Options 1. Eliminate What processes or services can you eliminate that your industry has long competed on? (Stop doing) 2. Raise Which services should be raised well above the industry’s standard? (Competitive differentiation) 3. Reduce Which processes or services could be reduced well below the industry’s standard? (Save $ and resources) 4. Create What services/customer satisfaction methods should be created that the industry has never offered? (Start doing)
  25. 25. Greenstorm Session Cross-Functional No Constraints No Judgements
  26. 26. Top 5 Goals Identify 25 (Greenstorm) Narrow to top 5 (Criteria-most likely to move you exponentially forward)
  27. 27. Risk Profiles No Regrets Big Bets Real Options
  28. 28. Step 5 Scenario Planning
  29. 29. Implications Wheel
  30. 30. Planning Tools Smartsheet- online action plan collaboration (www.smartsheet.com) Scenario Planning: www.competitivefutures.com
  31. 31. Growth- CORE to Adjacencies
  32. 32. McDonald’s- A Customer Focused Strategy •Retain •Regain •Convert
  33. 33. Competition -Data & Anecdotes
  34. 34. Scoot Networks- Market Assumptions ( 200 vandalized or stolen in 2 weeks of launch)
  35. 35. Acquisition vs. Investment in the CORE
  36. 36. Step 6 Designing your OKRs Objective: What is to be achieved- significant, concrete, action oriented and inspirational. Key Results: Benchmark and monitor HOW we get to the objectives. Specific, time bound, aggressive yet realistic. They must be measurable and verifiable. NO Gray areas…
  37. 37. Working Session- Defining & Setting OKRs
  38. 38. What is Your Cultural Profile? CARING (DISNEY) PURPOSE (WHOLE FOODS) LEARNING (TESLA) ENJOYMENT (ZAPPOS) RESULTS (GSK) AUTHORITY (HUAWEI) SAFETY (LLOYD’S OF LONDON) ORDER (SEC)
  39. 39. The Problem with ill defined Goals
  40. 40. Step 7 Communicating Your Plan “When you are tired of saying it, people are starting to hear it.” Jeff Weiner, CEO, LinkedIN
  41. 41. Golden State Foods Leveraging Culture/Performance for Growth
  42. 42. Mimi’s Café- Speed of Service Strategy
  43. 43. Step 8- Prepare Yourself & Your Team for Success
  44. 44. Sample Strategic Planning Process: Pre Session 2-6 months out: 1. Announce the dates- send out an outline of the session and expectations 2. Solicit input to key need strategic initiatives, market intelligence and internal operations 3. Form cross functional teams to gather/interpret customer data, markets, competitors, operations and propose “big move” scenarios.
  45. 45. Strategic Planning Session Day 1 Market, Industry, Company Big Picture Perspectives – Implications for Strategy & Innovation (Next Practice Questions) Big Moves discussions- where to from here? Day 2 Stop doing exercise, Narrowing to the (top 5) goals, assigning metrics, resources and accountabilities Day 3 6 month targets, OKRs, roles, dashboard, strategy map
  46. 46. Your First Step- Define Your Quest Identify and define what will drive purpose, passion and commitment- for you, investors, employees, suppliers, strategic alliances, others
  47. 47. Temporal Landmarks 6 Month Increments with clear OKRs
  48. 48. Reading
  49. 49. Your Opportunity- Others Failure to Act 2/3 of corporate strategy is never executed Of 2,000 large firms studied, 90% had detailed strategic plans, but 7 out of 8 failed to achieve profitable growth
  50. 50. Thank You! See you at the Jan 24th ENP Forum! www.enpinstitute.com/events Strategic Development Offsite Programs: Scott Hamilton Nextworks Strategy www.nextworksstrategy.com Scott.Hamilton@enpinstitute.com 888.857.9722

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