As we are getting closer to the end of 2020, and prepping for 2021, we are, just like every other business we know, engaged in planning.
- How does your planning process look like?
- What are the areas that are covered in your yearly planning process?
We host our quarterly CEO week at the beginning of December (unlike normally, it’s hosted at the end of each quarter but since the end of December usually means holidays, we prefer to host our planning sessions earlier in the month)
What happens during the CEO week?
First, we summarize the past quarter. We measure the results we got, and more importantly, since the CEO week is something that our Certified Growth Coaches host for their clients, we help our clients measure the results they got!
The first planning session is about VISION. In order to make a solid plan, the business leader needs to set a strong vision for his/her company.
Our devise is this: you can shoot goals all day long, but if you don’t know why, and how those goals are going to move your business to your grand vision, how do you know it’s the right goals?
Many of our clients change their business models when working with us. This could be due to the fact that the old way of business no longer suites them, maybe the industry has changes and new thinking is required. This is particularly evident in 2020, where millions of businesses have been forced to find alternative ways to deliver their products and services.
Sometimes the desire for change is due to the owner’s expanded horizon for what is possible. It could be about expanding from a local business to a national, international, global venture.
Either way, new vision, new set of strategies and game plan is required.
The second focus are is DIRECTION. We believe companies can do EVERYTHING, just not at once. So, the directional planning covers the following 3-5 years and identifies the big milestones for each year.
Once we have identified the VISION & DIRECTION, it’s time to set the detailed PLAN for the coming 12 months. This includes a detailed planning covering the following key areas:
- financial goals: what are your revenue & profit targets?
- product/services: what are you going to sell? Will you launch new products, kill some of your non-performing darlings, improve your current ones?
- markets: are you going to expand to new markets?
- marketing & sales operations: how are going to sell? What marketing & sales activities are you planning in? And, what’s your budget for these activities?
- people: what kind of help do you need?
- technology: what kind of technology improvements are you looking to invest in?
- lifestyle: how do you want your life as a company leader to look like? What will be your personal focus and priority during the coming year?
LEGS – Legacy Goals
The last piece of the planning is to set the legacy goals for your company.
What are Legacy Goals?
These are the goals that are either going to make you money or save you money, or both. These are the key achievements for your and your team. We prefer setting the LEGS to cover a quarter at a time, and at the end of each quarter, we engage in planning session to measure the results and outcomes of the LEGS.
- What kind of planning rituals do you engage in?
- Do you use a specific tool structure your planning?
Our Growth Rituals Planner is a perfect tool to help you achieve your goals!