Lately, we've been doing a lot of talking about forming a business strategy for your company. We started by creating a simple definition of our target market, then defining buyer personas and how to solve their pain points with a differentiator. Then, we set our long and short term goals to keep our priorities on track.
Today, we are going to wrap up this three-part business strategy series by talking about holding a Planning Session and organizing a celebration for your team.
The Makeup of Your Planning Session
Our Planning Sessions are held over the span of two days, which have to be the most important two days of the entire year. During the Planning Session, we discuss what direction we want to take the company during the upcoming year.
On the first day, we talk about financials and if we are making the right decisions to hit our goals. After analyzing our finances, we talk about "Blue Sky." This is basically a brainstorming session that helps us decide where we should put our focus on a tactical level. There are no bad ideas. Everything is written on the board as we narrow down the appropriate strategies.
On the second day, use the information from your SWOT (strength, weakness, opportunity, threat) Analysis to build your company’s key initiatives, #1 priority, and Big Rocks. By using the Growth, Delivery and Support phases as buckets, you can easily break down each task by function so you'll have manageable pieces.
The next step is to prioritize and assign accountability for each item. Start with the Growth phase and finish with the Support phase. Once you have all the company tasks prioritized, you'll then want to assign a person to be held accountable and choose a due date.
The last piece of the puzzle is to build the actual plan. The best tool to use to build your plan is the Align Today online software. This software has those four tools built in, allows you to put your plan in the cloud, and gives you the ability share it with your entire team.
Theme, Celebration, and Reward
It's time to kick it.
Once you completed your planning session, it might help to create a theme for your goals. We came up with the theme "Driving our way to 'X' DIDs". In conjunction with this theme we came up with a fun celebration to race go-karts or sprint cars if we were to reach our goals. We also created a reward system, which is different from the celebration, to present to the staff in the form of profit sharing.
Celebrations and rewards serve as an incentive for everyone to push towards our business goals and to congratulate everyone on a job well done.
Thank you for watching this week's Talking with Tapolci! To check out the previous videos of this business strategy series, check out the links below.
The Business Strategy Series:
We'll see you next week with another episode!