This is the time of the year that businesses begin to look ahead to the coming year. Traditionally this approach is in the form of a strategic plan. Some considerations include new opportunities, new products and/or new services. It may also address expanding into new space and adding more equipment. It may take the form of a SWOT analysis, what are the company’s strengths, weaknesses, opportunities, and threats.
Plan Development Means Involvement
The problem is not the idea of planning. The problem is how the plan is created. Too often it involves a top-down approach in which the plan is developed by the CEO and then handed down to the organization. It has the following typical theme.
“We’re pursuing new opportunities and since we are all in this together, this will be a win-win for everyone. We just need you to get on board because we’re taking the company to the next level.”
This “planning” effort is for naught because it doesn’t ‘tap into the intelligence’ of the firm’s staff (the management team). It doesn’t account for their issues, concerns, or priorities. It doesn’t take into account how they viewed the growth of the business.
To have a successful outcome, you need to get alignment, which guarantees engagement, which leads to implementation. This means starting with getting key employees involved in identifying and then fixing the real problems. They must be involved in the process from the beginning.
A More Effective Planning Process
A better plan will be created as a result of a better approach to creating the plan. A plan based upon objective elements is key to that foundation. A Stages of Growth X-Ray™ is an example. The X-Ray process is an online diagnostic tool that allows each member of the management team to review and rank the following:
- How well the company has addressed the 27 Challenges,
- What is the company’s Builder: Protector Ratio also known as the Confidence/Caution Ratio by responding to how the company is addressing issues in 6 different areas with 6 questions in each area
- Where is the company in the progress of addressing the 5 Non-Negotiable Rules for their stage of growth? There are 3 questions for each rule. This exercise also looks back at the two previous stages of growth to identify what issues the company may have ignored as it grew.
For a Stage 3 company or beyond (20 – 34 employees), the results provide 108 insights into where the company stands.
A retreat with this valuable information provides an objective way to quickly focus on the areas the company needs to address first. The involvement and discussion by the management team leads to alignment and engagement which leads in turn to implementation of the plan.
A Researched Foundation
This approach isn’t a theory. It is based on interviews and working with 650 CEO’s in 35 different industries. As a result, James Fischer was able to identify 7 Stages of Growth that firms pass through. In this research, he also found that businesses face 27 different Challenges as they grow through these 7 Stages of Growth. For each stage of growth, he also determined the appropriate Builder: Protector Ratio. And, for each stage of growth, he identified 5 Non-Negotiable Rules.
Getting Started – A FREE Test Drive
If this approach is new to you, you may want to investigate it further. As stated, James Fischer identified the top five challenges at each stage of growth. You to take the FREE 27 Challenge Assessment and compare your answers to what Fisher found in his research. It will not only give you better insight into your Top 5 Challenges, but you will receive a Special Report for your Stage of Growth. The Report will provide you with the following:
- 5 Biggest Challenges for your firm’s stage of growth
- Tools to Build Your Business
- 5 Non-Negotiable Rules for your firm’s stage of growth
- Business Building Blocks
- Getting Ready for the next Stage of Growth
To take the FREE 27 Challenge Assessment go to https://www.trwconsulting16.com/ and click on Take 27 Challenge Assessment.