Strategic Planning: Beware of the Barriers
Firms of all sizes have begun developing - or have developed - a strategic plan for their firm. As they go through the strategic planning process, many will find that they will encounter barriers that will block their way to successful implementation, even with a solid plan in place. As any good planner knows, the earlier you recognize those barriers and find ways to overcome them, your chances for success will improve.
Two important strategies
Proactive and successful firms today are implementing two important strategies in their strategic planning process that help them advance quickly and ensure successful execution of their plan. The tasks are not difficult, but it does take commitment on the part of the owners to ensure realization.
Barrier #1 - Technology that does not support the plan
Firms today are becoming more technologically savvy than ever before. Every firm has a list of "technology projects" that they will be accomplishing over the weeks, months and year ahead. However, many of them truly have not looked at the overall strategic plan of the firm, and then developed a technology plan and budget that will support the overall plan. The reality of the situation is that it is not as easy as it sounds.
Firms only know the information that they know. You might have to think about that one for awhile; but we can only plan for the things we know about. If there is a new way to accomplish a task on the strategic plan through a technology tool, and the firm is not familiar with it, the new technology will not put it into the plan. So... education is an important step in the technology planning and budgeting stage.
There are two ways to ensure that you have all the information you need while developing your technology plan and budget:
- Peer Networking: One person simply cannot know everything there is to know about technology. There is too much information out there to absorb. The challenge for you is to find a group to network with that you can share information with. Look for a group that is in your industry, and look for a group that has the best and the brightest firms. If you want to be the best you have to "swim" with the best.
- Another Set of Eyes: It is often important to have a 3rd party take a look at what you are doing and how you are doing it. Technology is like a puzzle in your firm and sometimes there is more than one solution to the issues you are facing. An outside consultant with a different perspective can be very beneficial to your long-term success.
Overcoming the technology barrier early in the strategic planning process is often called a Technology Review. This proactive step will alleviate many of the conflicts that could arise later in the process. Plan now and spend time later reaping the rewards in higher productivity.
Barrier #2 - Not Recognizing Your Staff's Unique Strengths
It is interesting that everyone reading this article recognizes that the number one asset in a firm today is people. But many have never really gotten to know the people they work with and determined the strengths they have and how to use them effectively.
The 2nd barrier is just that, using your number one asset - people - more effectively. It is essential today to get to know people not just from the resume they bring to the table (cognitive skills), or the personality that comes through each day (effective skills); but also in the way they like to work and the behaviors that will allow them to do the most work in the most enjoyable way (conative skills).
Conative skills are those that allow you to see how someone instinctively works and how they best fit into a team situation. In the firm culture today, teamwork is essential to success. So... why don't we spend more time working on building teams? The answer is that it is HARD WORK and other priorities simply come before it on our "to do" list. However, there is a way to discover the unique instinctive strengths of your staff without having to go through a long and complicated process.
Identify unique strengths
Kolbe (www.kolbe.com) is a unique testing method that will identify a person's conative strengths in a simple 30 question, internet based index. It takes only 30 minutes to complete, and with the assistance of a trained consultant you can identify the unique strengths of each of your team members. Armed with this information, the firm can create teams of staff members that will create the most efficient teams and will increase the level of communication among everyone.
Your firm can overcome this barrier in the strategic planning process by taking a "talent inventory" of the staff. The talent inventory should include:
- Cognitive Skills: What degree do they hold? What certifications do they have? What additional training have they taken since they came to work for the firm? HINT: Look at the resume and ask the staff member directly!
- Affective Skills: What motivates the person? Are they introverted or extroverted? Do they love to be around people or do they avoid it? HINT: Have them complete the DISC profile or observe their behavior and then discuss your observations with them directly.
- Conative Skills: How does the staff member prefer to work? Do they like to gather information or bottom line information? Do they like to organize or are they more free spirited? Do they like to create new products and new services or do they like to ensure stability by making sure the new idea is thoroughly researched before going forward? HINT: Have them complete the Kolbe index or observe their behavior and then discuss your observations with them directly.
Barriers are only negative if they are not recognized and dealt with. You now have the information you need to deal with the two barriers that could sabotage your strategic plan. Don't just read this and do nothing with the information. Be proactive and take the necessary steps to insure that your strategic plan will succeed.