February 2, 2012
The Best Laid Plans, Part III
Vision articulation. Get it right for yourself first. You should be able to answer “where do we want to be in three years?” in 25 words or less.
Roadmap from today. Make sure to lay out clearly what things need to happen to get from where you are today to where you want to be. The sooner-in stuff needs to be much clearer than the further out stuff.
Resource Requirements. Identify the things you will need to get there, and the timing of those needs – More people? More marketing money? A new partner?
Financials. Lay them out at a high level on an annual basis, on a more detailed level for the upcoming year.
Packaging. Create a compelling presentation (Powerpoint, Word, or in your case, maybe something more creative) that is crisp and inspiring.
Pre-selling. Run through it – or a couple of the central elements of it – with one or two key people first to get their buy-in.
Selling. Do your roadshow – hit all key constituents with the message in one way or another (could be different forms, depending on who).
The best thing to keep in mind is that there is no perfect process, and there’s never a “right answer” to strategy — at least not without the benefit of hindsight!
People have asked me what the time allocation and elapsed time should or can be for this process. While again, there’s no right answer, I typically find that the process needs at least a full quarter to get right, sometimes longer depending on how many inputs you are tracking down and how hard they are to track down; how fanatical you are about the details of the end product; and whether this is a refresh of an existing strategy or something where you’re starting from a cleaner sheet of paper. In terms of time allocation, if you are leading the process and doing a lot of the work yourself, I would expect to dedicate at least 25% of your time to it, maybe more in peak weeks. It’s well worth the investment.