5 proven steps to strategic planning and change success
A key leadership responsibility is developing and implementing a strategic plan that best utilises all available resources to accelerate growth, whilst managing short-term priorities. Ideally, this process is grounded in proven frameworks that increase the likelihood of success. Utilising frameworks centred on customer value is essential, as research shows that companies that effectively implement this approach are up to 60% more profitable.
The harsh reality is that 70%+ of strategies fail, often because there is misalignment around the key components of Change Success. Teams rush to address short term issues without aligning on a clear vision and actionable strategic plan to guide long term business growth.
The following five steps help increase the chances of strategic success by adopting proven frameworks, focusing on a customer value, and fostering team alignment and engagement throughout the process.
1. Align your team on where you are NOW using diagnostics, data, and feedback
Start by aligning as a team on the current state of the business. Ask leaders to complete diagnostics such as the Growth and Profit Solutions Diagnostic and the Customer Value Diagnostic. These tools will provide individual and collective insights into key areas such as business health, strategy and customer centricity. Complement this data with recent financial and performance metrics, along with any other feedback from team leaders regarding where you are NOW as a business.
2. Build a detailed map of WHERE you want to go.
Creating a clear and aligned growth context – knowing WHERE you want to go as a business and team - is essential before addressing challenges, leveraging opportunities, and allocating resources to best serve customers. Start by defining the appropriate timeframe for your vision (whether it be based on succession planning, technological evolution or simply 1, 3 or 5-year horizon). Use the Vision Map model to explore the 5 key pillars: Market, Products & Services, People, Passion and Finance. Collaborate with your team to examine the three key components of each pillar, using the questions provided in this proven framework.
If needed, add other factors specific to your industry. There are no right or wrong answers; and taking time to incubate this thinking builds valuable confidence and belief in the destination you’re aiming for. For a creative approach, ask your team to draw their vision for the company, as this will create fresh and memorable ideas of what they believe is possible. Remember, your vision isn’t set in stone; it should evolve continuously in response to changing market dynamics.
3. Identify the quick wins to build Change Success
As you assess the NOW and Where for your business, you will uncover issues and opportunities that can be quickly addressed through short-term sprint activities. Prioritise these issues based on the 80/20 Pareto principle – focusing on actions that will have the greatest impact and require the least effort and time. Use a 90-day rapid implementation process to make immediate change, and build team competency, capability and confidence. In addition to driving customer value and growth, this approach will help identify any capability gaps that need to be addressed to successfully execute your long-term strategic plan.
4. Establish your HOW with 3-5 longer term strategies on a page
While short-term imperatives are in progress, focus on building a clear and actionable strategic plan outlining HOW you will work towards the company vision. Use the 3 Circle Strategic Planning framework to develop 3-5 customer value centred strategies and condense this into a one-page plan. This summary should use company relevant language to highlight Now and Where insights, key strategies, actions, responsibilities, and timelines. This will enable the team to understand the big picture and their individual roles in driving success. Research consistently shows that aligning the entire company with the strategic plan is what drives success, as it engages employees to contribute their discretionary effort, create value every day, and accelerate growth.
5. Combine the Change Success model and continuous alignment
Dr. Chris Mason, founder of Mindshop, established through his PhD research that aligning your team around the key factors of Change Success - Readiness, Capability, and Belief – is critical once your key strategies have been outlined on a single page. Start by addressing Leadership Support, the Need for Change, the What’s in it for me (WIIFM) factor, the Change Process, and Confidence. Next, focus on People and Organisational capability, followed by Belief, including how the change impact others, the strength of attitudes, and perceived difficulty. Identify the three most significant gaps in these areas and develop actions to close them. This will ensure your HOW initiatives are more likely to succeed and you are better placed to reach your Vision.
Start by asking your leadership team to complete a quick Profit and Growth Diagnostic and a Customer Value Diagnostic. These tools will identify your current strengths, areas for improvement, and where misalignment may be undermining your competitive advantage and customer lifetime value. Additionally you can request to set up a 30 minute complimentary advisory session where we can walk through the Vision Mapping and Change Success frameworks to assist you in successfully developing and implementing your plan.
