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3-5 year plan Rhythm University
- 1. Copyright © 2016 Rhythm Systems, Inc. rhythmsystems.comRhythm® University 3-5 YEAR PLAN
- 2. Copyright © 2016 Rhythm Systems, Inc. rhythmsystems.comRhythm® University DETERMINE OR ADVANCE YOUR WINNING MOVES & 3-5 YEAR PLAN
- 3. Copyright © 2016 Rhythm Systems, Inc. rhythmsystems.comRhythm® University WINNING MOVES A Winning Move is a specific 3-5 year Strategy designed to dramatically increase revenue. • Brainstorm new Winning Moves • Evaluate progress and potential of current Winning Moves • Identify 1-3 Winning Moves to include in your 3-5 Year Plan
- 4. Copyright © 2016 Rhythm Systems, Inc. rhythmsystems.comRhythm® University BRAINSTORM WINNING MOVES Brainstorm 20 ways to increase revenue • What are we GREAT at? • Revisit our BHAG, Brand Promise • New markets, new products Vote and narrow down to top 5-8 for evaluation
- 5. Copyright © 2016 Rhythm Systems, Inc. rhythmsystems.comRhythm® University RANK TOP 5-8 IDEAS • On a scale of 1-10 what is the revenue impact? • On a scale of 1-10, how easy would this be to do?
- 6. Copyright © 2016 Rhythm Systems, Inc. rhythmsystems.comRhythm® University CHOOSE YOUR 1-3 WINNING MOVES • Decide what to say yes to and what to say no to. • Classify each idea: • Winning Moves for revenue = part of 3-5 year plan; revenue growth • Winning Moves for profit = part of 3-5 year plan; infrastructure & scalability • Idea Bench = Later, other Moves are more important • Dead = Stop, losing move
- 7. Copyright © 2016 Rhythm Systems, Inc. rhythmsystems.comRhythm® University SET UP THINK RHYTHM Continue working on these Winning Moves in your Think Rhythm • Who owns the Think Rhythm? • Who else should participate? • When’s your next meeting? • How often will you meet?
- 8. Copyright © 2016 Rhythm Systems, Inc. rhythmsystems.comRhythm® University 3-5 YEAR PLAN Set revenue and profit targets In addition to your revenue growth Winning Moves, what other Winning Moves for profit must you develop to achieve your targets? The right mix will include: 1-3 Winning Moves for Revenue Growth 2-3 Winning Moves for Profit
Editor's Notes
- You may already have determined your Winning Moves for the next 3-5 years. Use this time to revisit your Winning Moves, confirm them, and make decisions on executing your Winning Moves. If you do not have Winning Moves yet, go through slides 15-19. If you do have Winning Moves, work on Slide 19 and on making sure you have a strong Idea Bench.
- NOTE TO FACILITATOR This slide is to give some education to your team about what Winning Moves are and why your team needs them. Your goal is to have 1-3 Winning Moves that have the potential to double your business in the next 3-5 years Link to Winning Moves screens in Rhythm: https://rhythm.rhythmsystems.com/#WinningMovesPlace:;tab=1 You can use the Winning Moves Screens in Rhythm or you can download the Winning Moves Tool from Rhythm University to lead this activity: http://university.rhythmsystems.com/images/Resources/WinningMovesToolED.pdf
- NOTE TO FACILITATOR *Be sure to add your existing Winning Move Ideas and any Idea Bench ideas to this list if you already have some. Lead Activity Step 1: Start by brainstorming a comprehensive list of all the ways your team can think of to increase revenue. Really push yourselves here and try to list at least 20 potential ways. Patrick offered some ideas to jump-start the brainstorming process by considering some common patterns we have seen while working with clients on Winning Moves: ** What's my competition not willing to do? Perhaps there is a pain point in your industry that no one has been brave enough to solve yet. ** What do our customers hate but have to put up with? Perhaps there is a process that is standard for your industry that customers hate but have accepted. ** Do I have an asset or diamond in my backyard? Perhaps there is a internal asset that has potential to be monetized. ** What's the biggest barrier to entry for my prospects and how can I remove it? Perhaps removing or addressing your biggest sales objection would 2x your revenue. ** Are there opportunities to consider through partnership, acquisition or joint venture? Perhaps there is a growth opportunity with just the right partner. ** What are some big ideas or opportunities we have discussed in the past, but not acted on? Perhaps there is a big idea you have been hesitant to take on because of the unknown. Step 2: Narrow the list down to the top 5-8 ideas. Have the team consider each idea and vote on the top three they recommend investing time and energy in considering. Tally the votes and identify the top 5-8 ideas that have the most support.
- NOTE TO FACILITATOR: Open each Winning Move and rank the Revenue Impact and Ease. You can use this scale to guide your discussion or agree ahead of time on your own criteria for objectively measuring your winning move ideas. *** Revenue Impact - on a scale of 1-10, what is the potential impact this move could have on revenue? A score of 10 would indicate that this move alone could more than double your current revenue. *** Easy to Do - on a scale of 1-10, how easy would this be to implement? The more difficult or expensive it is to develop and execute, the lower the rating. Refer to Rhythm University: http://university.rhythmsystems.com/index.php/think/determine-my-winning-moves
- NOTE TO FACILITATOR: View your 5-8 ideas in the 4 quadrants here: https://rhythm.rhythmsystems.com/#StrategyIdeasPl:;seg=0;tab=1 Open each Winning Move and select the proper Stage: Winning Move, Key Thrust, Idea Bench or Dead Select the few Winning Moves you want to include in your 3-5 year plan. Obvious Winning Moves will score high on both scales, but you may also find Winning Moves that are high on Revenue Impact, but not high on Ease. If you choose to pursue these, be sure to consider your capacity, and limit to just one or two. If you don't have any that score high on Revenue Impact, you'll need to go back to brainstorming ideas. Remember that by definition, a Winning Move will have the potential to double revenue over the next 3-5 years. Your goal is to identify 2-3 Winning Moves that you want to begin to develop. You may find that you have more potential Winning Moves that you can support at one time. That's great! Pick 2-3 to begin work on and keep the others on a virtual "Idea Bench.” These are ideas you don't want to lose, that you may choose to add to your plan later.
- NOTE TO FACILITATOR: Establish a Think Rhythm to work on and test your Winning Moves. You will revisit Winning Moves at each Planning Session to check in. Refer to Chapter 3 in Rhythm and to Rhythm University for more about developing your winning moves: http://university.rhythmsystems.com/index.php/think/determine-my-winning-moves 5 STEP PROCESS to discuss in your Think Rhythm for each Winning Move: Name your Winning Move Find the “Who” Develop Revenue Projections Identify & Test Assumptions Adjust
- LEAD DISCUSSION Determine 3-5 year plan with your team. Rhythm Link: https://rhythm.rhythmsystems.com/#ThreeFivePlace:;tab=1 Note: Be sure to include the year for the targets you set (is it 3 years from now, 4 years, 5 years?) Key Thrusts are the operational and infrastructure capabilities that need to be part of your 3-5 year plan to support your growth. Examples of Key Thrusts/Capabilities include: Infrastructure Leadership & Talent Growth Operating Systems Open more locations, a second office, etc. Again, very specific to your company’s needs For more on determining your 3-5 year plan, refer to Rhythm University: http://university.rhythmsystems.com/index.php/think/determine-my-3-5-year-plan