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Archive for July, 2008

Avoid the 11 Strategic Implementation Pitfalls

Tuesday, July 29th, 2008

Wondering why your strategic plan never got implemented? Every year, organizations labor at planning, yet never seem to make it happen. Before you sit down with your team, make sure you’ve taken care of these potential traps:

  • Lack of ownership: The most common reason a plan fails is lack of ownership. If people don’t have a stake and responsibility in the plan, it’ll be business as usual for all but a frustrated few.
  • Lack of communication: The plan doesn’t get communicated to employees, and they don’t understand how they contribute.
  • Getting mired in the day-to-day: Owners and managers, consumed by daily operating problems, lose sight of long-term goals.
  • Out of the ordinary: The plan is treated as something separate and removed from the management process.
  • An overwhelming plan: The goals and actions generated in the strategic planning session are too numerous because the team failed to make tough choices to eliminate non-critical actions. Employees don’t know where to begin.
  • A meaningless plan: The vision, mission, and value statements are viewed as fluff and not supported by actions or don’t have employee buy-in.
  • Annual strategy: Strategy is only discussed at yearly weekend retreats.
  • Not considering implementation: Implementation isn’t discussed in the strategic planning process. The planning document is seen as an end in itself.
  • No progress report: There’s no method to track progress, and the plan only measures what’s easy, not what’s important. No one feels any forward momentum.
  • No accountability: Accountability and high visibility help drive change. This means that each measure, objective, data source, and initiative must have an owner.
  • Lack of empowerment: Although accountability may provide strong motivation for improving performance, employees must also have the authority, responsibility, and tools necessary to impact relevant measures. Otherwise, they may resist involvement and ownership. It’s easier to avoid pitfalls when they’re clearly identified. Now that you know what they are, you’re more likely to jump right over them!

Want more? Hit up our article on Strategic Implementation.

3 Perspectives for Getting Buy-in From Management

Monday, July 28th, 2008

One of the most frustrating and futile exercises throughout the business world is attempting to implement a strategic plan without total management support. All of the thought put into planning and all of the work done though performance management focused on employees cannot replace this essential facet of your organization’s strategy: 100% buy in from those at the top.

But how do you ensure something so vital when by definition top management is, well, at the top? We’ve rounded up three different articles from different disciplines that attempt to tackle the issue.

From a Process-Change Management Perspective:

  • Show benefits: If you can demonstrate how the approach will help the organisation and the kind of benefits you can obtain, then you will catch the attention of your Senior Managers…
  • Explain the concept and how to ensure success: If you understand the concepts, then you have the knowledge to explain how [your planning process] can benefit a company and how to set up for success…
  • Understand where it can help: Identifying where to run your projects is vital in any deployment and even more so in the early stages. You must pick projects which are not so easy that any attention would have solved them, or projects which are so big it would be like solving world hunger…
  • Understand what motivates your Managers: If you understand the motivations of your management team then you will know what buttons to press to get the concepts accepted… more at ezinearticles

From a Communications Management Perspective:

With a firm eye on the bottom line, top management wants to see financial benefits. Yes, investment is required upfront, but in the not-so-long term, there should be savings as marketing materials are produced faster and more consistently. A challenge for communications and marketing managers is to document results and, wherever possible, show the numbers… more at Eye for Image

From a Marketing Pitch Perspective:

Be calm. Don’t try to “sell” your idea. Stick to discussing the opportunity in a calm, rational way and let the conversation flow. If your managers feel they are being sold an idea, their BS meter may go off. This could really change the direction of the discussion… more at Marketing Inspiration

You may have to try different approaches and borrow from what has worked in other organizations or disciplines, but don’t overlook this essential aspect to your plan- and don’t give up!

How to Perform A SWOT Analysis: A Whiteboard Video

Thursday, July 24th, 2008

This week in our White Board Session, Erica Olsen explains how to perform a SWOT Analysis, an essential part of the Environmental Scan within your organization’s strategic plan.

If you’d like more information, please browse our archives or check out our additional resources.

Whiteboard Video: How to Write a Values Statement

Thursday, July 17th, 2008

It’s Whiteboard Thursday again, and this time we’ve got Erica Olsen detailing how to craft a values statement that will clearly explain what your organization believes, or stands for. Each week, we’ll be posting these video tutorials so check back for more!

In addition, if you have any requests for subjects, please let us know in the comments.

Recession Advice You Don’t Want to Miss… From a Stripper!

Tuesday, July 15th, 2008

Sick of all the “recession-proof” talk being spouted by white-haired businessmen & fast-talking consultants? You’re probably just reading in the wrong place. I sat down with someone who may not be your first choice for recession advice- a stripper- and you wouldn’t believe the useful things she told me.

So, about the interview. Two weeks ago at a local coffee shop I bumped into my neighbor, Cameron, who is a stripper- and a quick breakfast conversation ended up turning into an interview on how she’s getting through the downturn. I found what she had to say was especially inspiring for small business people and contractors, but also for managers in general who are starting to feel the pinch and worry about our economic future. Below is an excerpt which she was kind enough to let me print.

MSP: Has the strip club industry seen an impact from the economic downturn? Some may assume that “red light” entertainment would be recession-proof.

It [the economy] has affected us for sure. It’s definitely not recession proof, because we’ve all seen a drop in business.

MSP: What has that done to your club & your competitors?

I’ve seen tons of girls quit. They’re not making as much as they were and they fear it’ll get worse.

MSP: What are you doing that’s keeping you working?

Personally, it hasn’t affected what I take home, because I’ve made adjustments. I’m making the same money but working longer and harder for it. I know this won’t last forever, so it’s worth it for me.

I’m also taking a vacation that I had been putting off. I figure one of the best ways for me to keep up my pace is to stay happy, so I’m going to take some time to relax before I get back to it.

MSP: What advice do you have for other businesses and contractors who are worried about the recession?

First, realize that a lot of what you’re facing is mental. The recession is real, but a lot of the girls I know quit when they could have kept going and stuck it out. You can’t let all the recession-talk get in your head and shake your confidence.

Second, work harder and smarter. I pick up extra shifts sometimes or work a little longer, but with everyone else quitting, that’s actually been helping me. I can keep this up and come out of the downturn doing better.

MSP: Cameron, that’s some sage advice. I really appreciate your perspective and I think others will- especially in a time where people need some reassurance.

Recession Proofing KitYou can check out our related articles and tools in MSP’s free Ultimate Recession Proofing Kit by clicking here.

Startup Booster Recognizes MyStrategicPlan

Thursday, July 10th, 2008

Oh, happy day! It always feels great when someone tells you that you’re doing a good job, and web apps aren’t immune to that! Today, StartupBooster, a fantastic blog that showcases some stellar startups, issued a review of MyStrategicPlan that has all of us really excited. Here’s a little of what Jey at StartupBooster had to say after checking out our system:

MyStrategicPlan offers its services at a reasonable price point as indicated on their website. Navigating through the web pages, I found the features useful to new entrepreneurs as well as those who have an established web presence. It is surprising how the market has not capitalized on strategic planning tools, which essentially is the backbone of any business. If you have ever asked yourself three questions, “where is my organization now?”, “Where do I want to take it?” and “How will I get there?” then this tool will definitely prove to be a viable solution to your queries.

Head over to StartupBooster here to read the entire review. Thanks Jey and the rest of the team!

How To Write a Vision Statement

Wednesday, July 9th, 2008

Half-Way Through 2008- How’s it Going?

Monday, July 7th, 2008

So- you set your goals, you dreamed your dreams and now, here we are at the midpoint of the year. For some, July sped here at breakneck speeds. For others, the year has been creeping along. No matter where you stand, this is a fantastic time to take stock in your position: how far are you towards reaching your goals for 2008?

Yes, it’s time to break out your goals and see where you are at.

How are you doing? Do you need to step it up, or pat yourself on the back? Whatever the case, if you’ve made a plan and stuck to it, you’re doing the right thing. Now, here’s a few links to mark 2008’s half way point:

Whiteboard Video: How to Write a Mission Statement

Thursday, July 3rd, 2008

MSP is extremely proud to announce our new weekly installment to the blog- “The Virtual Strategist: Practical videos packed with business essentials.” Each week, our VP of Marketing Erica Olsen will take complex or boring business concepts and make them simple and inspiring! This week: Mission Statements.

Stay tuned for more each week here at mystrategicplan/blog!