“It has been too long … we should have done this earlier.” These were the words of the CEO of high-growth tech-company to his executive team as we gathered for a “strategy-offsite”. He noticed how refreshing it was to clarify goals, create a game plan, and get everyone on the same page to move forward. While these sessions are a significant investment in terms of preparation and time away from the business, our experience shows that the return on investment is high.
We’ve found there are three essential components that must be included to get the payback you desire:
Goals & Strategy – What?
We often talk about this as the North Star. What’s the gap between the kind of company we want to become compared to the company we are now? What are the key milestones for the year in light of the longer-term vision for the company? For example, if we want to grow into a new market, what are the key customer relationships and/or products we need to develop this year?
Processes – How?
These are the capabilities and ways of working required to execute the plan for the
year. How do we attain the goals defined in the North Star? Depending on the
magnitude of the gap/change required to hit the goals, we often find current processes insufficient. For example, to support a production facility with 100 people, we can no longer use the recruiting & personnel processes that worked for a much smaller shop.
Organization & People – Who?
This part comes last, not because people are unimportant, but because we want to
ensure their talents are used in the processes required to meet the goals. We’ve often noted that if goals and processes are analyzed in the previous steps, the “people part” becomes very obvious. For example, if we’re going to take on big B2B clients, we now need key account managers capable of managing long term sales relationships.
As you consider these three “essential ingredients”, you may find a different level of
focus needed for each of them. For example, if the strategy and goals are clear, there’s no need to start over with a white sheet of paper (in fact - starting from scratch every time is a key trap/demotivator). Instead, do a deeper dive in the areas that need more work. You’ll find that the team will appreciate this and feel their time is well spent.
So, when is the last time your executive team took a step back and spent time creating clarity around goals, processes, and people? Our experience says the best teams do this about twice a year. If you’re struggling on where to start or how to make sure it’s effective, we’d love to help you on the journey!
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