Dos and Don'ts of Strategic Planning Keep it simple and sustained August 26, 2010 Strategic planning—in one form or another—has been around for eons. But many leadership teams still stumble in the planning and execution stages. The following dos and don'ts will help you lock in your prospects for success and avoid common pitfalls, according to Rebecca Staton-Reinstein, president of consulting firm Advantage Leadership (advantageleadership.com). In her strategic planning practice, Staton-Reinstein advises clients to: Follow the (modified) KISS principle: Keep it Simple and Sustained. Less is more. Your goal is to create goals and objectives that focus your work for the next year or two. Limit the goals and objectives to one page. Don't set too many goals or objectives or go into greater detail than necessary. Too much detail leads to confusion, conflicting goals, micromanagement, and failure to execute. A successful plan is not measured by the pound. Follow all steps as described in the particular planning methodology or model you've chosen. Use it as it was designed. You probably chose it because of its reputation, so use it confidently and learn from others' success. Don't skip steps or do them partially. Avoid tinkering with the process, since you have no data to justify your changes. Focus on mission. The mission—what your credit union wants to do or be—is central for planning and day-to-day execution. Before you accept any goal, objective, strategy, or tactic—or before you take action—ask, "How will this help fulfill our mission?" Don't do things because "we've always done it," or "I think we should do it even though it doesn't fit our mission." Without the mission driving your decisions, you'll miss innovative solutions, drift off course, or become reactionary. Measure, measure, measure! Select useful, significant measurements for all goals, objectives, and tactics. What information do you need to make decisions? Revisit KISS: Keep It Simple and Significant. Don't avoid measurement because it's difficult. Measurement might be difficult, especially when dealing with member satisfaction, employee morale, or effectiveness. Define ways to measure these intangibles so you can gauge progress during execution.
Measure quality, wherever possible. Quality is reflected in how members judge your products or services. This provides the best information for strategic decision-making, and it keeps you focused on your mission and your members. Don't select productivity measures just because they're easier to define. Important as it is, productivity doesn't tell you if you're creating a product or service that members want. Provide support, resources, training, guidance, direction, and coaching to assure everyone's success. People can't perform well unless they have everything they need to do their jobs. The plan is only as good as its execution, which depends on great people management. Don't put people into situations without giving them what they need to get the job done. Delegation means understanding what the person requires to fulfill a responsibility—and supplying it. You can hold people accountable only for what they actually control. Manage by fact. Good planning sets the stage for good performance. Review results regularly to make decisions and manage. Start with the basic question: "Are we on target?" Then, follow one of two tracks: 1. "Yes, we're on track." "Great. Keep up the good work." 2. "No, we're not on track." "OK, what's your plan to get back on target?" Targets are just that—targets. If the results are less than desired, look for root causes, investigate those causes, and modify your plans or targets appropriately. Don't ignore data or make excuses. Unfounded hope is not a strategy for success in the real world. Strategic planning works because it disciplines your credit union to harness the intellectual energy of all employees and guides it in a clear direction.