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.
9. Core Values
BHAG
Core Purpose
Geographic Focus
Target Market Customer
Generic Strategy / Value Discipline
Core vs. Non-Core Activities
Strategic Positioning
Key Benefits
Brand Promise
3 to 5 Year Strategic Moves
Numerical Targets
SWOT Analysis
Current Strategic Projects
Key Performance Indicators
RESULTS.com - One Page Strategic Plan
10. 1. Reflection and lessons
2. Strategically analyze your industry
3. Confront your current reality like a VC
4. Create Strategic Projects and Tasks
Agenda
32. How effectively did you measure progress and keep it visible?
List your answers below:
33. How well did you hold your people accountable for achieving
KPI “Green” thresholds (or meeting Tasks done on time)?
List your answers below:
34.
35. What valuable lessons did you learn
during the last planning cycle?
List your answers below:
36. 1. Reflection and lessons
2. Strategically analyze your industry
3. Confront your current reality like a VC
4. Create Strategic Projects and Tasks
Agenda
44. "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."
45.
46. “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
47. “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
48. “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
49. What are the top 3 long-term strategic moves
to position your firm for future industry success?
(will be implemented within the next 3-5 years)
3-5 Year Strategic Move Person Accountable
1.
2.
3.
58. “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
59. “It is not the strongest who survive,
nor the most intelligent,
but the ones most responsive to change”
70. 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:
74. 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:
79. 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:
81. “Who” or “What” do you need to
pay for to run your business?
82.
83. 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:
86. 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:
90. 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:
96. 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:
100. 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 Formerly Office, Increasingly
working from home
Office, Home, Wherever,
Desires flexible work hours
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,Maintain
personal life, Training, Mentoring
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 frequent management
feedback, 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
102. “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
103. 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:
118. 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:
119.
120. “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
121. “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
122. “The difference between successful people
and very successful people
is that very successful people say "no"
to almost everything”
Warren Buffett
123.
124. What do you need to START doing?
(Because it is strategically important for your long term success = “Core”)
List your answers below:
125. “The difference between successful people
and very successful people
is that very successful people say "no"
to almost everything”
Warren Buffett
126. “The difference between successful people
and very successful people
is that very successful people say "no"
to almost everything”
Warren Buffett
127. What do you need to STOP doing?
(Because it no longer serves you / not working out / purposeful abandonment = “Non Core”)
List your answers below:
129. What are the top 3 long-term strategic moves
to position your firm for future industry success?
(will be implemented within the next 3-5 years)
3-5 Year Strategic Move Person Accountable
1.
2.
3.
130. - Research your early adopter customers
- Study what is happening “out on the edges” of your industry
- Subscribe to bloggers who conduct industry analysis
- Attend industry conferences
- Learn from other industries - peer networks
- Conduct thorough industry analysis at least every 12 months
- Porter’s 5 Forces + PEST
- Survey your staff to get their input
- The questions remain the same. The answers keep changing
- Review strategy every quarter - does it still make sense?
3 to 5 yr Strategic Moves - best practice
131. 1. Reflection and lessons
2. Strategically analyze your industry
3. Confront your current reality like a VC
4. Create Strategic Projects and Tasks
Agenda
132.
133. “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. “Cost of Customer acquisition too high”
“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
135. 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:
136. 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:
137. 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:
138. 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:
140. - Review and update SWOT every quarter
- Use your 3 to 5 year Strategic Moves as the context for SWOT
- Survey your staff to get their input
- Act like an outside investor doing due diligence on your firm
- No fluff. Tell the truth. Be specific
- Use 3 to 5 word descriptive statements
e.g. “Marketing” is not a weakness.
What is it about marketing that is weak currently?
e.g. “Customer acquisition cost too high”
- Use SWOT as basis for choosing your key projects each quarter
SWOT Analysis - best practice
141. 1. Reflection and lessons
2. Strategically analyze your industry
3. Confront your current reality like a VC
4. Create Strategic Projects and Tasks
Agenda
147. 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.
153. 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
154. 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
155. 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
156. What does being accountable overall
for the execution of a Strategic Project mean?
– You don’t necessarily do it yourself, but you make sure everything “gets done”
– Colleagues with associated Tasks report to you as “project leader”
– You update the status of the Project at end of every week to show:
– % complete
– Color (on track / needs help / off track)
– There is always at least 1 Task assigned to the project (due within the next 1 to 2
weeks) to show everyone what the next step is and maintain momentum
– You promptly address issues / delays, and keep the team informed
– You source the necessary support to keep things on track
– The Due Date shown in the project is kept accurate so that it stands as a
commitment (promise) that others can count on
161. Presenter: Stephen Lynch
Twitter: @StephenLynch @RESULTSdotcom
Email: Stephen.Lynch@Results.com
Presentation Available: www.RESULTS.com/slides
Thank you for your time