The Strategic Planning Meeting

 Turbo Charge Your Approach.

Strategic planning is by its nature, time consuming and hard!  Assessing the environment and the company and then positioning and aligning resources takes tons of effort. So much effort that many Fortune 500 companies just don’t do a good job. And… it’s these companies that rarely hit their potential. But true strategic planning, (like what McKinsey or BCG does) can easily cost $1M or more.  So what is the answer? How does a company do great planning at a small fraction of the cost? I think a turbo charged approach meets most everyone’s needs. It’s quick, uses your best people, gets everyone bought in to the implementation of the plan, builds-in an accountability system, and gets it mostly right. Think of it as a leveraged approach.

So what is the process for a turbo charged approach? It’s easy! I find it most useful to use a third party (not the CEO) to organize the process, collect and analyze the data, set the objectives and outcomes for the meeting (with the CEO) design the agenda, and to facilitate the meeting. In this way, people can do their work and the third party can do all the leg work. Then when it’s most important, everyone can meet and use their time together wisely.

So how to approach turbo charged strategic planning?

1)      Pick a third party to organize and drive the process. It can be a senior level consultant (like me J) or an internal specialist but it should not be the CEO or President. They have much better things to do than the leg work that it will take to make the meeting effective.

2)      Collect valid data. Some folks like to collect both external data and internal data but some are fine with just picking the brains of their top folks on what we really need to do next to be most successful. (Remember, this is a leveraged “turbo charged” approach). I suggest the third party personally interview participants for about 60 minutes each. This should be plenty of time to assess what should be done next year.

3)      Create a specific and detailed agenda based upon what you learned from your data analysis. This should also include the specific outcomes and objectives for the meeting and detailed agenda items. Too many times people just put topics on the agenda without ever fully considering: the type of item, the champion of the item, the outcome of the item, the process for the item, the time line for the item, the prework needed to be ready to efficiently use time, etc. Creating a great agenda is an art and time consuming. There are many considerations and it often takes much longer than anyone expects but when done right, huge amounts get accomplished in the meeting seamlessly and the group actually enjoys the process (and if I have my way, walk out of the room a more effective team. See #5).

4)      Use a professional facilitator for the meeting. I am not just saying this because I am one. I am saying it because it works a thousand times better than not having one! I would much prefer to be maximizing everyone’s time and using each person’s brain in the room rather than have one of those folks worrying about lunch, the air conditioning or making sure the conversation stays on  point. A pro will pay for themselves a hundred times over.

5)      Use the strategic planning meeting to tune up your team. There is no question that teams outperform groups of individuals on complex tasks about 99% of the time. It used to be that we did “teambuilding”. Now I find the best way to build your team is while they are working on a real project. A professional will know how to do this seamlessly and effectively and at the same time you are setting up your plans for the future. It’s a win win win win. Better strategy, alignment, direction, and teamwork!

6)   Do quarterly follow-ups to create a built-in accountability system, adjust the plan as needed, speed up the team, and continue to develop toward high performance.  It only takes about 4 hours for the quarterly meeting to meet its objectives but most groups try to leverage or maximize their precious little time together. High performing teams will rotate who is in charge of each meeting and give them total freedom to run the session where and when and how they see fit. They can be at client sites, hotels, new offices, wherever will work for the theme of the day. Most groups put in place a ¾ day or all day quarterly meeting and use the extra time to develop everyone, either with team building, leadership development, site tours, or expert panels or guest speakers. It is a day everyone looks forward to. And then once a year, usually 4th Q, we do a longer retreat to close the year formally and kick off the next, all in alignment with the executive committee and shareholders meetings.

So there you have it. A leveraged approach to your strategic planning. Pick a third party to run the process, collect and analyze data, create a specific and detailed agenda, hire a professional facilitator to run the meeting, and create a built-in accountability system that ensures people stay on track and in alignment. This process works like crazy, takes very little time, is not terribly expensive, uses your people where they are best and does not waste their time. It creates ownership and buy-in, decreases resistance and makes full implementation almost assured, creates strategic alignment, builds your team and helps them to achieve and stay at high performance. It gives you a full opportunity to participate as a leader, makes everyone smarter and your leaves your organization aligned, agile, collaborative, and highly productive.