Skip to content

Questions & Answers from Annual Planning Webcast (Annual Planning - 2017)

Some of you asked questions on Patrick's most recent webcast "Is Your Annual Plan Helping You Double Your Business?   We took the ones we thougth might benefit everyone and put them here for you to see.   Enjoy!

 WinningMovesChart

Q:  Can I get a copy of the slides/webcast? 

A:  Here is a link to the webcast and tools.   You can pause it as much as you like to view the slides. 

Q: Do you recommend a consulltant for the first time you want to go over your strategy?

A: I recommend a coach with strong facilitation skills.  The answers are already in your firm and team. The right coach will be able to facilitate discussion and use questions to get your plan out of your team.  Your plan is the best plan you can have - better than a consultant telling you what to do!

 

Q: Having been an Inc 500 company in 2001 I'm a little worried that growth over 10%a year is risky.  Why would I want to achive 20% growth per year when it seems so difficult and disruptive.  Why not aim for 10% growth per year?

A:  Not a problem.  Growth for growth sake is not good.  The question is really what rate is your industry growing at?  You want to grow faster than your industry otherwise you are losing market share versus gaining market share.

 

 

Q: How are you taking into account the risk of implementation? In other words a winning move may have the potential for three times growth in 3 to 5 years and it may be relatively easy to implement but the competitive environment may be changing?

A: Yes - take risk into account on the "Easy" horizontal scale.  We purposely oversimplified the form to only have 2 axis.  Easier to understand, easier to use.

 

Q: How far into this process do you go before testing assumptions against available money?

A: Test immediately.  Create a dashboard of your assumptions, and start asking questions and testing to verify if your business model works - I woud work on it weekly.

 

Q: Sounds like you favor "high impact" over "easy" in evaluating moves?

A: Both axis are important.  I would look at both together, not on its own.  In general -easy is good.  But remember - high impact and difficult or expensive might create great barriers to entry like the Apple Store.  In such instances, I would pick the High Impact Difficult over the High Impact Easy

 

 Download Free Annual Planning Guide