Planning Your Strategies for Long- and Short-Term Goals

Monte Wyatt & Brad Sugars, Oct 15, 2019

In preparing your long- and short-term strategies, discussions that lead to decision-making need to happen on a regular basis. As we've said before, you must have long-term goals as well as short-term execution plans that carry out your strategies for adding zeros to the 5 Disciplines.

There should be an annual deep-dive session, which is sometimes called a retreat, where your organization engages in a process that leads to the resolutions and directions that add zeros to the company.

There should also be quarterly action planning sessions for coming up with the specific tasks and metrics that add those zeros and measure their impact.

Senior management must commit to the strategic thinking and execution planning process. It must also commit to the time it takes, knowing that this process is about the discussion and making decisions that lead to agreement about the company’s alignment. Strategic thinking session activities are for the business’s senior management team.Â

If your business doesn’t have a management team, you need to assign one. The function of management is to have each member of senior management be responsible for understanding how the business is satisfying each constituent group. For example, the person responsible for community interaction, usually the CEO, needs to have a good understanding of how the community views the company, and how it is working with the community to support it, benefit it – and how that work benefits the company's workers.

Here are the nuts and bolts for a manager to prepare for a meeting:

  • The senior manager must understand what's going on in a department, in the world, in the customer's experience.
  • The people in charge of each department, before they come to the meeting, need to get inputs from their teams
  • They must get a consensus or an idea of what's actually happening so they can report to the group.

These responsibilities can overlap and multiple people can be involved: the Sales Manager and Marketing Manager will have perspectives on how the customer sees the company. Senior management needs to balance that understanding with the company’s strategy.

Make sure everyone is personally invested in the outcome of the process, and a knowledgeable and clear, creative thinker who exhibits an Abundance Mindset in the following ways:

  • Thinking Big versus Thinking Small. People with the Abundant Mentality are known for creating big, hairy audacious goals — it becomes part of their DNA while the Scarcity Mindset is all about limits.
  • Plenty versus Lack. Because the Abundance Mentality sees that there is plenty of everything in the world, from resources, love, relationships, wealth and opportunities, they know they can afford what they want in life, and say I can afford that..., instead of automatically believing I can’t afford that, even when it’s not true.
  • Happiness versus Resentment. A person with an Abundance Mentality is a happy optimist, genuinely happy for others success, while someone with a Scarcity Mindset is bitter and competitive, seeing the success of others as taking away from themselves.
  • Embracing Change versus Fear Of Change. People with an Abundance Mentality embrace and accept change as an integral part of life, even if it’s challenging or difficult to navigate. Those with a Scarcity Mindset are plagued by fear, complaining about and resisting change of any kind.
  • Proactive versus Reactive. Those with an Abundance Mentality take a pro-active approach to life, strategically planning for the future. People with a Scarcity Mindset are passive, waiting for things to happen to them.
  • Learning versus Knowing It All. People with an Abundance Mentality have a never-ending thirst for knowledge and developing new skills: they crave learning and growth. Those with the Scarcity Mindset believe they already know everything worth knowing even when contradicted by facts.
  • What Is Working versus What Is Not Working. Those with an Abundance Mentality have a daily focus on 'What’s working? The person with the Scarcity Mindset adopts a victim mentality, choosing to focus on what they perceive to be failing, often snatching defeat from the jaws of victory. It is nearly impossible to plan for the future with this kind of thinking. Avoid it if at all possible.

You need wide-ranging, frank discussions that are open to information from every source, accepting that no one knows everything. You need abundance thinking: the first reaction to new ideas shouldn’t be no, but what if?

To recap, senior management must commit to the strategic thinking and execution planning process. It must also commit to the time it takes, knowing that this process is about the discussion and making decisions that lead to agreement about the company’s alignment.

We'd love to hear from you. How often does your company hold strategy meetings with senior management? Thank you for sharing.