January 5, 2010
The Importance of Follow Through in Strategic Planning
First off I would like to welcome everyone to the 2010 edition of the Improve My Business Now blog. I hope you all had a restful holidays and are ready to get to work making our businesses better. Now let’s get going on the good stuff.
If your business is like ours you probably spent the last several weeks wrapping things up from 2009, getting caught up on the things that inevitably fall through the cracks, and perhaps most important of all, thinking about what you were going to do in 2010. Well 2010 is here now, are you doing the things you thought about and planned for?
Whether you went through a formal strategic planning session in the latter part of the year or not, the holidays always provide a break from the frenetic pace of business and allow us to slow down and take a critical look at where we are, how we got here, and where we want to go next. Usually this comes in the form of setting goals for the New Year then coming up with plans to help us meet those goals. I am sure you are all already familiar with the importance of setting goals and planning how to meet them, but in case you need a reminder there is a good article about the importance of strategic planning here. If you didn’t get an opportunity to do some strategic planning in 2009 it’s never too late to put a plan in place.
However, this post isn’t about strategic planning, it’s about follow through. For most of us, we probably have our plan for 2010 at least in mind, if not actually written out somewhere, but what are you doing to put it into action? The truth of the matter is that strategic planning is only as good as the follow through. Your goal to grow sales by 40% over the next year is tremendous and your plan to accomplish it through increased marketing efforts, development of your sales funnel, and increasing return business sounds like a surefire way to make your goal a reality, but at the end of 2010, what is really going to matter is not the goal and the plan, but what you actually did.
Take a look at 2009 or any other year that has already come to a close. What were your goals for that year? Did you meet those goals? Why or why not? It is just as critical to review your old strategic plans and compare them to your actual results as it is to make new plans. Even if you don’t have a written plan, think about what you wanted to accomplish last year. Did you get it done? These reviews are a great way to judge follow through and goal setting. You can look at your previous goals and plans and determine whether you were able to effectively set reasonable goals, come up with actionable plans that meet those goals, and follow through on those plans. The point of these reviews is not to point fingers and establish blame if the strategic plan failed, they are about information. If you were able to put your plan into action and meet your goal that is great, if not, that is great too, by reviewing you can discover where the break down occurred and make sure you do better this year.
What I find most often when I look back at old strategic plans is that as soon as the pace of business and life picks back up in the beginning of the new year we make a couple attempts to start the ball rolling on our plan, then the plan gets forgotten in a cloud of dust and finds its way into a filing cabinet somewhere never to be touched again. Part of my plan in 2010 is to make sure that I stick to the plan, follow through on what I have said I am going to do, and make sure that, when I review my strategic plan at the end of this year, if I haven’t met my goals, it isn’t because of a lack of follow through. Until you have adequate follow through on your plan, you will never be able to tell if your goals are reasonable and if you plans are adequate to meet them. When looking forward, the plan is the key, but in review, it’s your follow through that really counts. If you didn’t follow through, nothing else matters.
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