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Time Code/Show Notes
0.35 In this episode from the Evolve Upper Limits Mastermind, Chris introduces Geoff Day. Today’s topic covers how to implement strategic planning for accelerated, exponential growth.
1.46 Geoff’s opens with a story about a business turning over 30 million – and over four years, how he helped them grow revenue to 60 million by facilitating a clever, strategic plan.
Define where you are now – define a clear vision forward – review and adapt as you go.
4.00 The four phases of strategic planning begin with assessing your situation right now. Take the time to ‘get out of the canoe’ and ask the question. 2. Determine a strategy to get you where you need to go. 3 Build a plan. 4 Manage performance
6.10 Geoff gets granular on identifying challenges and strategic issues. Do this immediately. Get customer insights. Why do clients like doing business with you. Similarly, employee input is hugely important. SWOT analysis’ are still just as valuable today.
11.30 Take the time to delve into your strengths and weaknesses.
13.25 Geoff shares the story of progressing a football club by looking seriously at weaknesses and involving more people in the planning process.
18.00 Do not underestimate the power of the collective brain’s trust.
20.23 Threats. Look at what is likely to happen in your external environment. What’s happening now – what’s coming for you? Be honest. Will artificial intelligence impact your industry?
22.20 Put your team in front of a whiteboard, ask for zero judgement, and record what you hear.
24.00 Key focus points should also include diving into your mission, and determining your values. Use your business vision to answer these questions.
27.45 Competitive advantage. What is your competition doing – be aware but not obsessed. Stay in your lane and identify your competitive advantage to solidify your position.
30.50 Value statement and plan building is all about deconstructing your SWOT and setting your goals.
32.36 Give some thought as to how you will monitor your progress and adjust as you go.
32.53 Build your budget to support the strategic plan.
33.15 Once you’ve reached this stage, you must learn to manage your performance effectively. Ensure it is well communicated amongst the group and that the review process is either monthly or quarterly.
36.20 Seek out new tools and apps that exist to help you build and track your strategic plan’s success.
37.00 Geoff recaps how you develop a strategic plan over four phases. You need formal perimeters within your own business to achieve more success than you are now.
39.25 Strategic planning is a two to three-year horizon. Start now.
40.00 Inspired? Hit up upcoach.com.au for more great content.