Sharing Your Long Term Strategic Plan With Your Team

The $100 MBA Show
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Automatic TRANSCRIPT

Before we get into details of why you want to share your long term strategic plan plan with your team the benefits of it and had to do it. Let's talk about what a strategic plan is. It's basically a very simple document. This could be five or six pages and I. It's simply a Google Doc. We prefer Google dunk because everybody on our company has a company email and we can easily share here this dock with anybody with a company email and the doc is basically an overview of what our mission our vision is with a company is all about what we do who who our customers are how we actually acquire these customers but then he goes into the details of what we want to accomplish in the next year in the next six three years and in the next ten years and it actually starts with a ten year plan. And I like that because this actually gives you a broader perspective on what you're trying to achieve in the long term a ten year plan a really allows you to see where the company is going what the ambitions is our and also sells your police when they read it. Hey this company is here to stay and actually has a plan for the next ten years that really inculcates a lot of confidence but but even just for you as the leader you understand. Hey this is where we see ourselves in ten years when you have a ten year plan or a- tenure vision you really start to realize wow I gotta think big I think a how M- really going to influence the marketplace and really help our users than the people that we serve serve customers and this plan has detailed numbers like how much revenue you're gonNA make every month will your profitability goals. What's the size of your your company? How many employees? What some of the products or features your products will half what are some milestones or? Maybe there are certain people you're trying to connect with in your business people that are that you would love to have his users or clients who's on that wishlist for your clients. So that's the ten year plan but you're under the same thing for three years as well as the next year two thousand twenty and then you break down that year that you have head into quarterly goals. Quarter one two three and four. What you you're going to achieve in each quarter? What's the focus? What are the outcomes? What are the deadlines so you understand? What the focus is for the next three months? It's a very very clean and straightforward strategic. Plan that looks ahead as far as ten years as well as the next three months onces nears three months shouted Dan Martell. Dan Martell DOT COM our business coach. Who shared this Strategy with us the strategic plan we implemented it And it's thanks to him so now that you have your should planet and by the way it took us a good to full working days to put together there are strategic plan. A lot of discussion a lot of No taking and writing down and really just trying to figure out where we're heading and this is a group exercise anybody who is in upper management. You know we met with me. WHO's the CEO the COO Nicole as well as our CTO Taylor and we really went through the whole document? point-by-point made sure that we were happy with the answers that we knew without a shadow of a doubt. Some clarity to where we're we're going in the next ten years three years year each quarter. Now once we nailed our strategic plan it was time to share with the team and this is the leap. A lot of people. Don't take Jake we decided. Hey why are we just keeping this to ourselves. Let's share with every single person that works on the team to the understand what they're working towards the also so can see how they can contribute towards those goals in whatever role they're in this is incredibly helpful and I'll share some of the things that I learned through sharing drink the strategic plan with the team. So how do we do this. Well we do an all hands meeting this meeting with every single employee every single month and it's a video call because we're a remote team team and there's people around the world that work for us so we wanted to make sure that we address this strategic plan in that meeting so we dedicate about twenty minutes into the meeting. We went through the document. Would you go into super detail. But we went through enough for them to understand the highlights but then after the meeting we said we're GONNA share this document with everybody was shared in the Google doc and we said Hey. Do you have any questions. Please let us know. Want you to take your time and read this in detail but we went over the highlights at the meeting itself. We didn't get a big agree action or a lot of feedback. I think we'll just kind of absorbing what they heard but afterwards I got a lot of private messages and on meetings or on calls got a lot of great positive feedback from the team saying hey I really found that useful. I now understand why we're doing what we're doing. I understand our wise accompany more of the things I was really surprised by how inspiring it was inspired. Wow this is where we're going in ten years is what we're going to do with somebody's GonNa look like this is incredible. I WANNA be part of it. It also instills confidence in your team. Like hey this team. This management team has it together. You could be doing this. And if you don't share they don't no no it. They don't know what you do behind the scenes but when you share they're like Oh wow. The Siem actually has a plan for us and that management really has our backs and sharing sharing what they've decided with us so that were in the know so it gives them confidence in management in you but most of all what this does by sharing your your strategic plan with your team it gives them the blueprint of how to win the understand. What winning looks like this is what winning? Looks like at my Mike Company and this company. If you feel like you're winning these are the things that we have to accomplish. Managing you're playing a sport but you didn't know how to score your know what would get you points on the scoreboard. That'd be incredibly frustrating. And that's how things are in a lot of companies people show up to work. The do the tests are told but they're not really sure if they're doing well or not with a strategic plan could say. Hey you know what I'm doing things towards the plan towards the goals we have in the near future and in the long term future now even though we shared this this strategic plan. This is not the end. It's GonNa take more iterating more time more discussion. We're going to have to refer back to it in our next all hands meeting we're GONNA have to talk about it in our retreats people need reminders and we all need to be reminded of what the prizes what we're trying to work towards so this has got to be something that it's not just shared once and just forgot about has referred back to it's got to be like the scoreboard. Look at the score. How we doing have we hit our goals for the quarter

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