Strategic Plan Update workshop for UBT Nth America

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In this workshop, Stephen Lynch from RESULTS.com conducts a facilitation on how to review and update an existing strategic plan

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Strategic Plan Update workshop for UBT Nth America

  1. 1. Strategic Plan update workshop UBT – North America Stephen Lynch
  2. 2. Get the software demo: www.RESULTS.com Promo Code: UBT Get the slide deck: www.RESULTS.com/slides Connect with Stephen Lynch:
  3. 3. Full participation
  4. 4. Ask for everyone’s point of view
  5. 5. Productive conflict is important
  6. 6. No “group think”
  7. 7. Make a clear decision
  8. 8. Everyone commits to the decision
  9. 9. Review Strategic Execution
  10. 10. What were the notable achievements your team accomplished? List your answers below:
  11. 11. What did you START doing that has been of value? List your answers below:
  12. 12. What did you STOP doing (and it was a good decision to stop doing these things)? List your answers below:
  13. 13. How effectively did you measure progress and keep it visible? List your answers below:
  14. 14. How well did you hold each other accountable for keeping promises, and achieving the deadlines you set? List your answers below:
  15. 15. What valuable lessons did you learn? List your answers below:
  16. 16. What is Strategy?
  17. 17. “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
  18. 18. “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
  19. 19. Gary Hamel
  20. 20. Describe your current reality and make it obvious !!
  21. 21. Be specific with your SWOT: Use 3-5 word phrases “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 target customer leads” “Communication” is not a weakness What is not being communicated? E.g. “Strategy not well understood”
  22. 22. Think like a VC
  23. 23. 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:
  24. 24. 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:
  25. 25. What opportunities can you pursue over the next 12 months (aligned to your BHAG & 3-5 Year Strategic Moves) that will position your company for future success? Rank your Top 5 Opportunities in order:
  26. 26. 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:
  27. 27. Current Strategic Projects
  28. 28. “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
  29. 29. “SMART” Projects S Specific M Measurable A Achievable R Relevant T Time bound
  30. 30. Strategic Projects / Key Initiatives  RED = Project behind schedule. Sound alarm!  YELLOW = Watch closely. Need help?  GREEN = Project on schedule
  31. 31. Using software to track projects
  32. 32. Strategic Projects & their associated Tasks
  33. 33. Choose Strategic Projects that will address the issues documented in your SWOT analysis Be obvious about the milestone you need to hit by the due date (so you know when to “pop the cork” to celebrate success) Many people can be involved in executing each Strategic Project, but only 1 person 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
  34. 34. What are the top 3 Strategic Projects your company (or team) needs to execute 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 1. 2. 3. Due Date Person Accountable
  35. 35. Balance Optimism with Realism 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.
  36. 36. Strategic Project #1 Associated Individual Tasks Due Date Person Accountable
  37. 37. Strategic Project #2 Associated Individual Tasks Due Date Person Accountable
  38. 38. Strategic Project #3 Associated Individual Tasks Due Date Person Accountable
  39. 39. Make time for Strategic Execution: The #1 Thing 90% of your time is “Business as usual” activities You still need to create opportunities, make sales, deliver products and services, and collect money…. the things you do every day to pay the bills. Set aside 10% of your time ( ½ day) every week for strategic execution, to complete 1 specific meaningful task “the #1 thing” that will move each Strategic Project forward.
  40. 40. 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 each 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
  41. 41. Tip: Due Dates In the first 2 weeks of the period allow people to research and plan the execution of their individual Projects and Tasks Agree and “lock in” the due date after this 2 week window We have now set the “rules of the game” for this quarter. We do not alter the due dates after this point If a project falls overdue, there may be a valid reason but you must show that the person did not complete their Project on time
  42. 42. How will you keep progress visible on your Projects? How will you hold people accountable for Task achievement? List your answers below:
  43. 43. Numerical Targets
  44. 44. Display a small handful of Numerical Targets Numerical Target Description Date: 2 Years 1 year 90 Days Person Accountable 31 Dec 2015 31 Dec 2014 30 Sep 2013 Software license sales 75 50 4 David # Branch offices 6 3 1 Stacey # Hosting clients 13 8 3 Ann Choose milestones that have meaning for ALL your people (Aligned with your financial forecasts / budgets)
  45. 45. Choose 1-3 Numerical Targets Choose measures that you are happy to display publically numbers that are meaningful for ALL people in your company Project these targets over 3 different time periods to show everyone the milestones the company will reach as it evolves and grows: 90 Days → 1 Year → 2 Years The targets for the next 90 Days are concrete “must achieves” 1 year and 2 year targets are approximate, and should be reviewed every quarter to ensure they reflect the current reality.
  46. 46. Are you aligned? Align Numerical Targets with BHAG©, 3-5 Year Strategic Moves, and your Current Strategic Projects Numerical targets should then be used as the basis for your financial forecasts / budgets / human resources planning etc. Strategy comes first! Numerical targets and financial budgets must be aligned with your strategy!
  47. 47. Display a small handful of Numerical Targets Numerical Target Description 2 Years 1 year 90 Days Date: DDMmmYY DDMmmYY Person Accountable DDMmmYY Choose milestones that have meaning for ALL your people (Aligned with your financial forecasts / budgets)
  48. 48. How will your team keep the Numerical Targets visible? How will your team hold people accountable for achievement? List your answers below:
  49. 49. Get the software demo: www.RESULTS.com Promo Code: UBT Get the slide deck: www.RESULTS.com/slides Connect with Stephen Lynch:
  50. 50. Key Performance Indicators
  51. 51. “However beautiful the strategy, you should occasionally look at the results”
  52. 52. 92% of companies don’t measure KPIs [3]
  53. 53. Key Performance Indicators / Key Metrics  RED = Unacceptable performance standard  YELLOW = Watch closely. Need help?  GREEN = Target performance standard
  54. 54. In the past, we used Spreadsheets / MS Excel
  55. 55. Now we use software
  56. 56. Key Performance Indicators / Key Metrics
  57. 57. Everyone knows their own individual accountabilities
  58. 58. They can also see how the entire team is performing
  59. 59. Team leaders can drill down to identify the cause
  60. 60. Looks like one person is holding the team back
  61. 61. What are the reasons for this trend?
  62. 62. Craig
  63. 63. Take action to diagnose and solve the problem
  64. 64. Don’t wait until the end of the month
  65. 65. Imagine this… - You are on an extended holiday in the tropics…. - All you can receive is a weekly text from your business that contains a small handful of numbers (e.g. 5 max) that tell you how well your business (or team) is performing - If the KPI’s are “green” you can go back to sunbathing - If the KPI’s are “yellow” you need to ring the office to see what is going on - If the KPI’s are “red” you need to cut your holiday short and return home - What would those numbers be?
  66. 66. Emphasize “performance” measures that predict the outcomes that will be represented in financial statements Ideally use actual measures (rather than % of budget etc) so that the KPI data can be graphed over time showing the trend Review red, yellow, green thresholds every quarter (to reflect current reality / growth trend / seasonal factors etc) Confirm personal accountable is willing to be held firmly accountable for the KPI being “in the Green” as part of their performance review
  67. 67. What are the key performance indicators you will measure every week/month to drive your current business model? Key Performance Indicator Red Yellow Green Measurement Frequency Person Accountable
  68. 68. By what day each week / month will the KPI data be posted? What 1 person will be accountable to post this data? List your answers below:
  69. 69. How will your team keep KPI data visible? How will your team hold people accountable for achievement? List your answers below:
  70. 70. Get the software demo: www.RESULTS.com Promo Code: UBT Get the slide deck: www.RESULTS.com/slides Connect with Stephen Lynch:

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