3 reasons your strategic planning for 2013 will fall short

If you spent the time to make some strategic plans in 2012 for the 2013 collection season then there are several reasons the plans will likely not thrust your company forward like an arrow. Many of you have no written strategic plans at all but it is not too late to start creating one.

Lets first define what a strategic plan includes. It should include financial, client, staff, marketing and technology plans for the forthcoming year and execution plans to enhance the chances to meet or exceed the goals.

The perception of the company from the client and staff perspective must be reviewed. You must understand the value you provide to the client and include it in all your marketing plans. A brand promise must be included in your marketing plan, what can your customer expect to always get from your service?

Using a SWOT will help you to identify the top priorities to attack. SWOT or Strengths, Weaknesses, Threats and Opportunities is a Six Sigma tool used to identify the items with the most impact for the company. By spending time to identify these items you can then move to create more opportunities and diminish the threats and weaknesses’.

The companies that will meet or exceed their strategic plans will do these three things and the ones who neglect these factors will likely fall short of their 2013 goals.

1) An “Envisioned future” must be created and shared among the entire company to achieve that future. Many companies fail to share that vision with the staff. Often the envisioned future of the staff is much different than that of management and owners but when the entire company understands where they are going it is much easier to make the journey.

2) Quarterly and even monthly meetings to drive the initiatives along are required to make sure the goals are envisioned properly and to face changes in the vision due to changes in the industry or work environment as the year moves forward.  Creating an execution team in 2013 will help you to meet the goals set forth in 2012 by getting the staff involved in the planning their input to meet the goals will be higher.

3) Buy in from the staff will be required to meet the goals and is missing from most strategic planning meetings. The meetings are held with upper management attending and decisions are made without the input of the staff performing the daily tasks. Try inviting key personnel as well as upper management to help build staff buy-in.

Creating an goal execution team in 2013 will help you to meet the goals set forth in 2012 and by getting the staff involved in the planning, their input to meet the goals will be higher; creating buy in at all levels.

Just remember the strategic plans are just the foundation the execution strategy is the important element. If you need help planning or execution please contact Lighthouse Consulting www.lighthouse2success.com

Phillip W. Duff

Phillip W. Duff the Founder of Lighthouse Consulting was trained in Six Sigma while working for Bombardier Capital in 2001, and is highly successful helping organizations improve their processes using the Six Sigma methodology. Mr. Duff has consulted with numerous companies over the last 10 years and has shown the ability to enact cultural change in a company. He has also initiated programs proven to drive positive revenue growth both as an employee and a consultant. His focus is to help CEO’s with a focus on growth. His knowledge of technology and background in debt collections have combined to help companies automate processes and identify which processes provide profits. Mr. Duff has also developed a unique process of initiating cultural change as a part of developing a revenue-driven atmosphere in a variety of formats. This unique philosophy and technique are unseen to date. His substantial experience in the collection industry, Six Sigma core competency and extensive industry relationships can provide you and your team a matchless perspective into your accounts receivable business or any business strategy.

More Posts - Website

Follow Me:
LinkedInGoogle PlusStumbleUpon

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *