I focused on using the One Page Strategic Plan as a purposeful and actionable tool and shared 7 keys to using this wonderful framework to execute and grow:
- Core Values that drive Execution
- Purpose and BHAG to provide Direction and Focus
- Brand Promise to Win the Right Customers
- Winning Moves to 2X your Company
- Execution Plan every quarter with Clear Priorities
- Leading Indicators to drive Results
- “Do” Rhythm for Critical Adjustments
The One-Page Strategic Plan is a wonderfully simple tool to document all your strategic as well as execution decisions. Let's get everyone to execute off the same page, and yes, here is the link.
Here are 7 tips on using the Rockefeller Habits and the One Page Strategic Plan OPSP to help you and your team to execute off the same page.
1. Core Values that drive Execution: Don't allow your core values to be merely a poster on the wall. Use them purposefully everyday. Don't be tempted to hire that great resource who does not demonstrate your core values. Allow your core values to be your veto tool. Hire and fire by your core values. Here's a tip to live your core values: Choose words that you use daily. Don't switch into "corporate speak" when you bring up your core values. To make it stick, it's got to be the way you talk with each other.
2. Purpose and BHAG to provide Direction and Focus: Use your purpose and BHAG (Big Hairy Audacious Goal) to provide a long term focus for your team. Your BHAG is a 10+ year goal. Use it to get your team on an exciting journey. Your future is bright. Capture it in your BHAG and Purpose. Allow the excitement of the future to focus your team and pull them into the future. It will be easier to decide which priorities are critical and which priorities are really less important in the long term when you have your BHAG clearly in focus, with strong purpose, making decisions everyday.
3. Brand Promise to Win the Right Customers: Your brand promise should be matched with a guarantee that makes you stand out from your competition and provide a compelling value proposition to the type of customer you want to attract. You don't need to attract everybody. You only need to attract your core customers. This is the group of customers who have the characteristics that make your service or product compelling for them, as well as pleasurable for your team to service. Test your brand promise. If it does not attract the right customers and help you close deals faster, you can probably do better!
4. Winning Moves to 2X your Company: Column 3 on your One Page Strategic Plan has a block for you to document your Key Thrusts for the next 3-5 years. Here is a mistake I see many companies make. They forget to brainstorm and include a couple of growth strategies. I call these 3-5 strategic growth plans Winning Moves. Instead, I see key thrusts like: Grow our leadership team; Improve our infrastructure; Improve our internal processes. Nothing against those key thrusts. They are good, too. But, you need to make sure that you have at least 2 Winning Moves to grow revenue. Revenue growth does not happen automatically. And if you do not have a couple of Winning Moves in your key thrusts block, you might hit the growth wall in a few years.
5. Execution Plan every quarter with Clear Quarterly Rocks: Many companies I visit with these days have quarterly execution plans. That's great! That's the right side of your One Page Strategic Plan. It is so important that we dedicated half the One page Strategic Plan to getting you aligned on the Execution Plan for the quarter. Here's the thing, for companies with more than 50 employees or associates, you also need to extend or cascade this planning process to your departments and teams. Your plan is not complete until your departments and teams also have their execution plan for the quarter that is aligned and linked back to the company plan.
6. Leading Indicators to drive Results: At the top of your One Page Strategic Plan are six categories of KPIs (Key Performance Indicators). Think of this as your balanced scorecard and health indices for your company. Results indicators like revenues and profits are important to keep track of, but not what I suggest you put up here. Behind every result is typically a leading indicator that lets you peek into the future, and gives you an indication if you are on the right track to achieving the results that you want. Work to discover 1 or 2 leading indicators for the six categories at the top of your One page Strategic Plan (Employees, Customers, Shareholders, Make/Buy, Sell, Keeping Records).
7. “Do” Rhythm for Critical Adjustments: This is my favorite part. I like to say that "Learning is good, but doing is much, much better!" You have 13 weeks to achieve your plan for the quarter. Think of it as a 13 week race. And every week is one leg of your race. The key lesson is to make the right adjustments when you notice that your leading indicator tells you that you are not on track to achieve your goals. Your weekly meeting rhythm of reviewing priorities and KPIs will allow you to catch issues earlier in the quarter, giving you more time to figure it out and to come up with corrective actions.