Sustaining Business Newsletter

Three Tips for Successful Strategic Planning
By Jennifer S. Hendrickson

One of the primary reasons that businesses fail in the United States is poor or insufficient strategic planning.  Three simple techniques will help you make sure that your planning process is thoughtful, productive, focused, engaging and therefore successful. 

First, hire a professional facilitator who can provide an independent, open-minded perspective to the process.  While it is possible to conduct the session “in-house”, hiring a professional facilitator allows you to accomplish several objectives that are often difficult to achieve internally:

1. Keeps the group on track and on time using facilitation skills developed from experience.
2. Levels the playing field between the upper management and others invited to the session.
3. Allows the President/CEO to participate rather than leading discussions and encourages free thought and conversation among the group.
4. Encourages the group to ask tough questions, address complex problems and discuss diverging viewpoints in a respectful way.
5. Recognizes when the group is “stuck” and can redirect the discussion in a productive direction.

The second key to holding a successful strategic planning session is to hold the planning session at an off-site location.  You don’t have to take everyone to a resort on Maui, but you should go far enough away that it is truly a retreat.  When you blend work and fun, creativity flows more freely and co-workers have a chance to form stronger bonds that will help them work as a more cohesive team back at the office. It’s important to get away so that the participants can relax their minds and focus only on the future of the company and how to accomplish the goals established—rather than worrying about taking care of the day-to-day operation.  Although the process of strategic planning can seem daunting, it can be one of the best experiences you have with your team all year.

The final key to a productive planning meeting is preparation.  This means doing a bit of homework before the retreat.  Gather up your financial results for the last few years and have them available.  Bring last year’s strategic plan (which hopefully doesn’t have too much dust on it!) and any other documentation that may come up in the meeting.  The goals you set should be attainable and the best way to do that is to have real data available.  If this is your first planning session, this advice is even more important. 

The strategic planning process doesn’t have to be grueling – it really can be fun and productive if structured correctly.  Plan a golf game, a nature walk or other fun events to break up the meetings.  Host group dinners and even invite spouses or significant others – they are a part of your organization too. 

We wish you the best of luck in planning for your future.  To partner with Hendrickson Business Advisors in your strategic planning process, simply contact us.