Tag: strategy planning

03
Feb

Translating Strategy Into Action

In previous posts I talked about how to create a simple, strategic plan without falling down the rabbit hole of arguing about mission, vision, objectives, goals, strategies etc. I also talked about how to actually get a group of people to agree on a set of goals which is always fun and never easy.

cc Fenris Photography

cc Fenris Photography

This post talks about the crucial last step: translating your strategy into real action.

1. Follow-through – Once you have your plan finished, schedule monthly or quarterly review sessions right away and make sure people know in advance that they will be expected to report on their performance vs. the goal set in the plan. Send a meeting invite for a specific date and time along with an agenda right away. This tells people this is not a drill.

2. Make people uncomfortable when they don’t deliver – There have to be consequences when people do not deliver. For most companies, having to stand up among colleagues and say either “I didn’t deliver” or “My forecast sucked” is a powerful enough consequence. Don’t be afraid to be tough on people who don’t deliver, including yourself!

3. Reward people when they do deliver – Make a point of congratulating people when they deliver what they promise. It sends a signal that this is important to your company. It seems like common sense but most companies only focus on fixing the negative while taking the positive for granted.

4. Reward people when they deliver part 2 – Put your money where your mouth is. Tie bonuses and option grants to good forecasting and good delivery. If you have compensation tied to anything else you are sending mixed signals.

5. Be prepared for naysayers – People who were cooperative during your planning sessions will become less cooperative when the rubber meets the road and they have to explain why they missed their targets. They will question the planning process, claim that the strategy has changed, and blame external factors (e.g. The Downturn). You need to shut these people down quickly. Decide if you want to be a company with great performance or great excuses.

6. Get the whole company on board – Make the plan (and all the brainstorming materials) available to everyone in your company. After every review cycle, publish the results (good or bad) so they can be seen by all. Apply the same planning discipline to departments, your Board of Directors, and individual employees.

It’s probably fair to say that there’s no such thing as Really Simple Strategy Planning (sorry). In reality it’s a time-consuming process that’s bound to create some conflicts within your startup. But the payoff is huge if you can create a company culture that encourages thoughtful strategy development and hard-nosed dedication to performance. If you don’t have this mindset in your company it may be time to ask why not.