Strategy Execution

How to differentiate your business from 95% of the competition:

(1) Develop a documented strategic plan

(2) Effectively execute your plan.

Process

According to the National Business Association, more than 50% of small to mid-size businesses don’t have written business plans. What’s more, only 10% of those that have a written plan successfully execute it.

Huge opportunity
I believe the above facts represent a huge opportunity for the small to mid-size business. The opportunity to revitalize, reenergize and remake bottom line results.

Simply stated, if 95% of your competition either doesn’t have a strategic plan or doesn’t bother to execute the one they have – and in both cases YOU do – it stands to reason that your business will enjoy superior results. Makes sense doesn’t it?

In addition, of those that have a plan and attempt to execute it, many of them execute poorly. Note the figures below from a study conducted by Fortune Magazine:

  • Only 11% of managers have a strategy control system
  • 85% of executive teams spend less than one hour a month on strategy
  • Only 5% of employees understand the corporate strategy
  • 60% of organizations don’t link budgets to strategy
  • Only 25% of managers have incentives linked to strategy
  • 92% of organizations don’t report on any key performance indicators.

Strategy execution: Turning words into actions
Once you have a strategic plan you’ll be way ahead of most of your competitors. But the best plan is useless without effective execution. Strategy execution, like any other business function, requires the right process, the right tools – and, accountability. I have the CEO-level experience and expertise to effectively advise you on and assist you with all three.

Proven process – My proven process incorporates six interrelated steps to gain company-wide support for and drive successful execution of your strategic plan. This systematic and repeatable process not only drives execution, it integrates key metrics to help sustain a culture of excellence throughout your company.

Proven tools – For your strategy execution to be successful it must become part of the everyday operation of your business. That means from the company level on down you must be able to track and measure performance against plan. (See Peter Drucker: “What gets measured, gets done.”) Fortunately, there are excellent software tools that make this function easier today than ever before. The unique software system I use maps every employee’s activities to the goals and objectives documented in your plan…and enables tracking and monitoring on a daily basis.

For example, once we’ve documented your plan I’ll–

  • Sit down with your department heads and review the goals and objectives we agreed to and load this information into the system
  • Work with your team to devise metrics for tracking progress against goals and objectives and load this into the system.

When the system is fully loaded and operational you’ll have a dashboard that you can use at any time to get a snapshot of where you stand with all strategic plan goals and activities. The software also produces regular status reports and offers many more insights and capabilities.

Accountability – TheU.S. Armed Forces are crystal clear about accountability. Their leadership manuals state, “The unit commander is responsible for everything the unit does or fails to do.” Too often though, those of us in leadership positions think first and foremost of holding other people accountable. (As a CEO for twenty years I know I was often guilty of this.) But accountability in your organization starts and ends with you and your executive team.

This is why I’ve built accountability coaching into my strategy execution services. By meeting with you and your leadership team on a regimented schedule – and because I’m an independent, objective party not beholden to any member of the team, as well as an experienced CEO – I can pretty much guarantee you one of two outcomes:

  1. Your strategic plan will be successfully executed, or
  2. You will fire me.

I’ll keep you focused. I’ll hold you accountable. I’ll help you and your team work through any unexpected snags or obstacles we encounter along the way. In short, I’ll help you successfully execute your strategic plan so that you maximize your investment in my services.

Does Our Process Work?

Strategy execution results Memphis area

The data above was gathered by Six Disciplines of Findley Ohio from a poll of their client base. When asked to step back from the detail, the group showed a dramatic, unanimous increase in executive confidence after implementing the program. They rated the likelihood of success in reaching their 10-year vision 250% higher!

 

Call us to schedule an appointment 662-844-9088