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So, what is required for a “winning plan” to be developed; and, what must be done to insure that the plan has an opportunity to achieve the results the framer intended? Over the next few weeks I’ll share 7 attributes of a winning plan.
The second attribute of a winning plan: it includes a vision, mission, objectives, strategies and action plans.
Here is a breakdown so that you fully understand what these are and what they are not. As the lady once remarked to her friend about her son, “Larry has all the ingredients for success but he has never been able to find a suitable recipe.” A winning plan complete with vision, mission, objectives, strategies and actions plans is a suitable recipe for success. Therefore insuring that “suitable recipe” has all the proper ingredients to reach the success you seek must be your focus. Let’s explore these areas individually.
- Vision simply describes what is being built. It should clearly define who you are; what or who do you serve; where are you serving; who are your customers; discuss the products and or services you offer; and, what goals are you seeking. Those goals can be sales, or achievement levels as an example but must be measurable. It is also important for clarity that you add some form of timeline to the vision so that it can be better measured as time develops. Whether that be a year, or three years or even a greater period of time, setting this time awareness actually builds in accountability toward the reality of what you are attempting to build. Thus, before you build that winning plan, you really have to know and others need to see, what you are building and planning for.
- Mission is a demanding area. It is often confused with vision which creates even more difficulty, In its basic sense, it defines why a business exists. It should not be a paragraph long or even multiple sentences. It should get to the point and do so in eight to twelve words or less. A winning mission statement will utilize insights into your customers needs, your promise and what you are known for. it can also have a position that notes our competitive advantage. For example: a lawn and carpet maintenance company may have as its mission, “We help bring green and clean to your home or business.” They are defining their market, the home and commercial area; talk about what they do, bringing beautiful green to the grass, etc. and insuring that carpets are clean and fresh in homes and businesses as well. Simple, to the point and it resinates with those who view it. No rambling of “wanna be’s” but clear impactful reality of why the business exists.
- Objectives are great guidelines for the present and future. They are not always easy to formulate but are very, very important. Even the philosopher Aristotle noted, “The way to achieve success is first to have a definite, clear, practical ideal—a goal, an objective…” Business guru Peter Drucker also proclaimed: “Objectives are the ‘instrument panel’ necessary to pilot the business enterprise. Without them management flies by the ‘seat of its pants’—without landmarks to steer by, without maps and without having flown the route before…” Objectives must define what will be measured and also they must be metric based simply meaning they can be compiled as in a scoreboard. Objectives provide accountability; relate targets to shoot for; greatly reduce subjectivity, and input objectivity focused on specific results; and, provide detectable measures to gauge whether you are winning or are falling short. They are powerful, need to be formulated carefully and must be convincing to justify overall commitment.
- Strategies are similar to roadmaps: they set a direction for the business to follow. They also should provide a basis for key decisions to be reached and reflect what is actually being done by the business. Further they should provide illustrations on how the business or area might differentiate itself in the marketplace and have a baring on such constants as culture, leadership and key sources of income. Strategies also clearly state what a particular business will address and also what it might avoid. As a result of the activity strategies, the business leader can also formulate key business practices and create a viable business model that can be duplicated. As former GE CEO and author Jack Welch notes, “A strategy is something like, an innovative new product; globalization; taking your products around the world; be the low-cost producer. A strategy is something you can touch; you can motivate people with; be number one and number two in every business. You can energize people around the message.” Strategies in essence help explain how the business will succeed over time.
- Action plans specify what exactly must be done. WWII General George S. Patton said, “Opportunities do not come to those who wait. They are captured by those who attack.” They address projects that will be utilized; who is responsible to perform various actions; what is the timeline for the work to be completed; and, what are the results you want to achieve with your work. Actions plans pull in the vision, mission, objectives and strategies and compile each part so that workable processes bring these areas to life. There is an old saying that notes, “…where the rubber meets the road…” and action plans definitely fulfill this analogy. One can work and build great vision, a formidable mission and clear objectives and strategies. However unless powerful action plans are developed and then enacted upon, the plan will fail to launch.
Next week we’ll look at the Third Attribute of a winning plan.
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