For many businesses, this would typically be the time of year where they begin to build their strategic plans. These plans would often have a horizon of the next 3-5 years. But this year is radically different.
Here are 3 key things to consider when building your strategic plan this year:
- Build rapidly
Done is better than perfect this time. Things are changing too quickly right now to spend countless hours building a large and long-term strategic plan. You need to get this plan built in days instead of months. You also need to be ok with some uncertainty in your plan. Make some assumptions and go!
Having your team aligned around a common mission and roadmap will be key to your success. This roadmap won’t be perfect, but it will be actionable to get you through this year.
- Execute rapidly
Execute on what’s important now and do it as rapidly as you can handle. This year’s plan is more important than ever. We can’t allow ourselves to get dragged down into the weeds and forget about our strategic priorities. We identify strategic priorities for a reason and we need to keep laser focused on those. We need to spend the bulk of our time doing instead of planning, otherwise we will fall behind and it will be hard to recover from that.
- Revisit priorities often
This strategic plan will likely be more dynamic than any prior year that you’ve experienced. The key will be to revisit your goals and actions often (at least monthly). Assume that your priorities may dramatically shift quarter-to-quarter as this next year unfolds. The best way to keep a handle on that is to review your plan often and keep it dynamic. When something new comes up, have a strategic discussion and weigh it against your plan.
When something new comes up through the year ask yourself:
- Does this align with our mission?
- Does it align with the existing goals in our plan?
- Is it more important than something that is already on the plan?
Keep in mind, when you add something to your plan, you should also remove something. At the end of the day, we are all limited by time, money, energy and resources.
If you have questions about rapidly building your strategy, reach out to us, or check out our unique strategic planning process here.