So the votes have been cast and a majority Conservative government is in power, regardless of which side of the political debate you are on this does mean that the U.K. will leave Europe.
There will no doubt be upsides and downsides to this but one positive thing that definitely comes out of it is that for the first time in 3 years businesses can begin to plan knowing for certain that the U.K. will no longer be a part of Europe. This will bring change to your business, some of which will be no doubt be positive for you and some of which will bring challenges.
As a business leader it is important that you now prepare for these changes, whether this is in refreshing your strategy, creating a robust new strategy, optimising your route to market, changing your pricing platform or sharpening the skills of your team to win in the new environment. When change happens it is critical that your business changes accordingly! Blueprint can cost effectively help you optimise your success against these changes and as always we would be delighted to help.
Please think about it and just drop us a mail if you would like to discuss how we can progress things with you. In the meantime however let us wish you, your family and your team a very merry Christmas and a happy and prosperous new year!
In entrepreneurial circles, there’s a well-known book entitled “The E-myth Revisited”, by Michael Gerber, in which a startling statistic is shared. Of the roughly one million new businesses that open in the United States every year, only 4% of those businesses make it to year ten.
According to Michael Gerber’s research, successful companies and organizations that make it to year ten have something in common – they dedicate the appropriate amount of time to working ON the business vs. working IN the business. When you are working ON the business, you are strategically planning for the future. When you are working IN the business, you are tactically responding to daily issues.
Once you are able to commit more time to working ON the business, the best place to start is with a strategic plan. We recommend taking key staff and stakeholders for a retreat - away from their daily tasks for the appropriate amount of time to develop a strategic plan.
1. Prep-Up – the preparation before the retreat
Leading-up to your strategic retreat, take the opportunity to engage with and gather information from your internal and external stakeholders. This provides them with an opportunity to think about the future and communicate their ideas via interviews, roundtables, surveys and/or other tools. This might include identifying the key trends and factors affecting the organization, and/or clarifying the organization’s purpose, vision, and core values.
2. Step-Up – the work that happens during the retreat
It’s important to leave your strategic retreat with completed work - a robust, relevant and complete strategic plan that the team can begin working on immediately. The plan should include the organization’s vision, the key strategies required to achieve the vision, and the tactical plan that identifies the required actions, ownership and timelines. In addition, the team must determine what they will measure and monitor to ensure progress is being made towards the goals.
- What are your winning aspirations?
- Where will you play?
- How will you win?
- What capabilities must be in place?
- What management systems are required?
3. Follow-Up – the work after the retreat
Find the appropriate mechanism and frequency to hold your team accountable for the agreed upon actions as outlined in the strategic plan. I highly recommend the Green, Yellow and Red Light system as an accountability and reporting tool for your strategic plan. In the video below, former CEO of Ford Motor Company Alan Mulally talks from the Stanford Graduate School of Business about the power of using the Green, Yellow and Red Light system (starting at minute 26:15).
- Prioritize time working ON the business vs. IN the business.
- Develop a strategic plan for your organization with your key stakeholders.
- Enjoy the process - have fun and truly engage your teams while preparing, creating and deploying your strategic plan.
- Hold your team accountable to the actions and timelines developed in the plan.
- Don’t forget to celebrate key milestones and deliverables along the way!