|
||
|
Vol. 4 — No. 10 Escape
Velocity: Defying Business Gravity With Business Discipline Escape Velocity:
The minimum velocity an object must
have in order to escape the gravitational field of the earth Business Gravity:
The factors that hold your business
back from accelerated growth Deliver: The plan itself only works when put into
action. This phase of the process provides leaders with the insights and tools
to effectively implement the plan. Once the plans for growth are
finalized, the communication has occurred and the employees know their new
tasks—it is not time to rest. It is time to get energized and go make good
things happen. Well that means execute the plan,
right? Right—mostly. But remember that growth strategy is dynamic and
organic; it will continually evolve. Leaders can’t step back from leading as
even the best-made plans are in need of regular monitoring, updating and
refinement. Plans are future forecasts and there are no crystal balls. Some
of your assumptions may be wrong, competitors may change or new technology
may emerge that you didn’t anticipate. When that happens, it may be time to
revisit the plan and make appropriate adjustments. Your plan is a road
map—you are meant to stay the course but occasionally you need to refuel the
tank or replace a part to get the engine humming. That doesn’t make your plan
wrong—in fact it may suggest it is working as you are making progress and
learning as you go, improving the plan. Don’t allow yourself to go back
to business as usual—the same meetings, and same leadership processes. Find a
way to make the plan, and it‘s goals, a critical part of what you do, how you
do it and what you talk about. Here are a few suggestions: • At
your regular management meetings, require updates from champions on key
initiatives. How many you cover and how often you review them is dependent on
scope and timeframes set in the plan.
• Quarterly,
review dashboard measures and progress against them, understanding clearly
any deviations from plan. Take action as appropriate and communicate to all
stakeholders.
•
Annually,
review the entire plan and revisit assumptions, revising the plan as needed,
adding new initiatives as others are completed.
•
Every
few years, revisit the entire strategy and plan to ensure it still fits the
company you are and the market you compete in. You have prepared yourself for
success. You have established clarity, alignment, and accountability. Add the
discipline to follow through and actively manage results and you will have
accomplished your goals. For many of you, undertaking this
process may feel overwhelming. Reynolds Consulting, LLC has worked with
clients of all sizes across all industries to find solutions that work with
their market, successfully helping companies develop and implement their
plans. If we can assist you in any way in achieving escape velocity growth, please let us know. Call
|
|
|
|
Reynolds Consulting values your privacy. |
||
