(Cont'd)

With regard to current performance, assessments can be short and sweet or detailed and comprehensive. Short assessments include questions like:

• What were our goals for this year?
• How did we do?
• What did we learn? Did we document it? Does everybody who needs to know, know what was learned?
• What could we do differently next year?
• What metrics do we use to make sure we’re focused on and managing the right things? (If they aren’t measured, they can’t be properly managed.)

Asking these questions, simple as they are, will clarify successes and competencies, needed enhancements and refinements. Without taking stock of current capabilities vis-à-vis future goals, you’re likely to keep fighting the same kinds of fires rather than gaining significant ground toward what’s important.

Equally important is recognizing that you don’t operate inside a vacuum. The economic climate and competitive landscape definitely can have an impact on your business. However, solid planning can mitigate the impact of outside forces of the success of your enterprise.

• Are we really clear about who our ideal customers are? What do they need and value?
• What competitive challenges are we facing or are we likely to face next year? What do we need to do to keep up or take the lead?
• What’s happening in the political and economic arena that may impact us?
• Where is our industry going? What relevant trends are emerging with our clients, customers, and competitors?
• With whom could be partner by creating strategic alliances for greater exposure, revenue growth or improved profit margins?
• What impact does or could technology have on our business?

Finally, you must know where you’re going. Without a clear picture of the future, you’ll likely end up either barely treading water, paddling upstream against the current or being tossed around in the ocean like a small craft in a storm.

Looking forward, questions to ponder include:

• What business are we really in?
• Where does our revenue come from? Where should it come from?
• What is the best, most profitable business model for us?
• How can we improve our operations?
• How can we capitalize on what we learned and accomplished this year?
• Are our mission and vision still the 'right' ones?
• Has the entire company committed to them?
• Are each department’s goals aligned with the vision and mission? What about each employee’s goals?
• Do department goals conflict with each other in any way?
• Do the goals reflect what’s really important to our customers?
• Does our reward structure reinforce the right behavior and support the accomplishment of the goals that have been set?
• Are there new service or product areas should we venture into? What are they? How do we best get started?
• What human capital skills will be needed to catapult us forward? Do we need to hire, train, buy or outsource them?
• What other resources will we need?

What new ideas have come to your mind as you read this list? Imagine the depth and quality of ideas that could arise if you had this conversation with your key staff members. They will bring different perspectives to this inquiry and potentially open up brand new vistas for your company. Including them will also build commitment to being fully engaged in the creation and realization of company’s future.

You think you can’t afford the time to plan…indeed, you really can’t afford not to.

I’M AVAILABLE TO FACILITATE STRATEGIC PLANNING SESSIONS WITH YOUR LEADERSHIP TEAM. YOU MAY NOT NEED ASSISTANCE WITH THIS, BUT IF YOU DO, CONTACT ME.

Loretta Love Huff