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Issue 10 Linda K. Liebold www.CoachToSuccess.com
------------------------------------------------------------------------------------Thinking Strategically for Business Success!
Whether you own your own business, manage a department, or oversee a project, thinking strategically will help assure your success. The next two issues of Leadership & Life Tips will take you through a strategic planning process where you will look closely at your business and ask:
- Where are you today?
- Where have you been?
- Where do you want to go and when?
- How will you get from here to there?
By asking these questions, you will determine “the business” you really want to be in, envision where you want it to be in the future, and create the strategies that will help you achieve your vision. As you develop your plan, you will:
- Look at opportunities.
Many of us tend to get caught up in the day-to-day operations of our businesses. When we do this, we are focused on the present and not on the future. Strategic planning takes you out of the present and into the future, helping you see opportunities that will grow your business.- Enhance market awareness.
Thinking strategically encourages you to analyze your market. Who are your customers? What do they want and need? What can you provide to meet their needs? Who are your competitors? What do you offer that makes your organization unique and able to compete?- Improve organizational effectiveness.
Often people within a company have different perspectives of where the company is going. This creates confusion and organizational ineffectiveness. Planning brings individuals together to define a direction for the company – a direction determined and agreed upon by all.- Evaluate alternatives
During the strategic planning process, you will discuss different business scenarios by asking “What if” questions. The questions focus on such things as the economy, your competition, and your product/service. As you ask “What if” questions, you evaluate alternatives and make thoughtful decisions about the future direction of your business.As you go through the strategic planning process, you will create a Mission Statement (the purpose of your business), a Vision Statement (where you want to be in the future), Guiding Principles (professional standards for the work done inside your organization) Goals (long-term aims), Objectives (short-term achievements) and Strategies (activities to achieve the objectives and goals).
The remainder of this article will take you through a mission creation process you may want to try with your organization.
Drafting a Mission Statement
If you already have a mission statement, re-visit it to see if you want to refine it. If you don’t have one, create one. Your mission statement should answer the following questions:
- Who are we?
- What do we do?
- For whom do we do it?
- Why do we do it? (benefits to the customer)
Your mission statement should establish your organization’s reason for being – its purpose. It should be compelling, customer-oriented and easy to remember. It should also be motivating, uplifting and inspiring to people within your company -- and to your present and potential customers.
Steps in the Mission Creation Process
1) Begin by inviting a few key people in your company to a mission creation session. Tell them that this will be one of the most important things they will ever do for the company. Be sure to make everyone feel “equal” in the process. Job titles don’t count. Tell them that the goal of the session is to create a mission statement that reflects their thinking and that the statement should be compelling and long-lasting.
2) Next, write the four questions listed above on individual flip charts. (Who are we? What do we do? For whom do we do it? Why do we do it?) Begin with the first question and move on to the next. Brainstorm words and phrases that might be included in your mission statement. Highlight the words and phrases the group feels are most important. If you have more than three or four people on your mission creation team, divide into groups. Each group should have a flip chart. After the exercise, ask each to draft a mission statement based on the highlighted words on the charts. Each group should write it on a piece of flip chart paper, and then tape their mission statement on the wall.
3) Next, go around the room and ask each group to share their mission statement with the others. Highlight the parts the whole group likes or thinks are important.
4) At this point, ask one or two of your good writers to take the information from the session and craft 2-3 versions of a mission statement that incorporate the highlighted parts from the exercise above. Thank everyone for participating and schedule a day/time for everyone to meet again.
5) Once the group reconvenes, share and discuss the draft mission statements and move toward consensus on a final mission statement.
6) When you have agreed on a final mission statement, celebrate. This encourages commitment to your mission and helps people feel good about all of the hard work that went into developing it. Consider framing your mission statement. Place it on a wall where everyone can see it (staff and customers).
Here’s an example of a mission statement:
The XYZ Company (who we are) provides exceptional websites (what we do) at affordable prices (why we do it) for small business owners (for whom we do it).
Your mission statement is the key component of your strategic plan. Your vision, goals, objectives, and strategies will all directly relate to your mission statement.
What’s Next?
The next issue of Leadership & Life Tips will feature steps on how to create a vision statement and guiding principles. It will also demonstrate how to analyze your company’s strengths and weaknesses, opportunities and challenges. Finally, it will take you through a process that will help you design long-term goals and short-term objectives for your organization.
If you have any questions or need more information, contact Linda@CoachToSuccess.
Recommended Resources
If Your Strategy is So Terrific, How Come It Doesn’t Work?
By William S. Birnbaum
AMACON, New York, NY
Simplified Strategic Planning: A No-Nonsense Guide for Busy People Who Want Results Fast!
by Robert W. Bradford, J. Peter Duncan, Peter Duncan, Brian Tarcy (Contributor)
Strategic Planning for Nonprofit Organizations: A Practical Guide and Workbook
by Michael Allison
The Support Center for Nonprofit Management, New York, NY
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About the Author
Linda Liebold, M. A., is a business, career and life coach. As founder of Coach To Success, Linda motivates and empowers individuals and groups to be the best that they can be personally and professionally. Linda has 25 years of experience as a coach, consultant, manager, trainer, speaker, and facilitator. Since 1984, she has headed Liebold & Associates, Inc., a strategic planning, marketing and communications consulting company. She has worked with hundreds of individuals in over 60 organizations nationwide. She is affiliated with Coach U, Coachville and the International Coach Federation. She is certified in administering the Myers-Briggs Type Inventory (MBTI), Strong Interest Inventory, the California Psychological Inventory (CPI), and other personality, management, team, and individual assessments. For more information click here.
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© 2008 Linda Liebold All rights reserved.
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