When Do You Celebrate Strategic Planning Success?

70% of Strategic Plans fail in execution. Plans that do get executed realize approximately 2/3 of projected value. In a recent survey of local companies, most gave their strategic plan process and execution a grade of “B”.

Are our local companies stronger than the national average
OR do we reward our effort and not our results?

Only you can answer that for YOUR company. There is a natural tendency to acknowledge effort even when results are not achieved. We all know how hard we worked and what good people we are. While that is admirable, it is not enough. Results require effort no doubt, but effort without results is not the intention.

So when DO you celebrate a strategic plan?

  1. Celebrate after it is created and communicated-it creates energy for what lies ahead and rewards those involved for their hard work and deliberations in constructing the plan. (This is the one time you celebrate effort!!)
  2. Celebrate quick wins. Most plans have interim goals that are quarterly or annual. When the goals are reached, by all means celebrate. Goals that are missed can be “celebrated” in the context of what did we learn that we will apply to the future–but missing goals does not get rewarded.
  3. Celebrate the completion of the big goals–landing the whale customer, successfully launching the next generation product, raising the customer satisfaction score, increasing profit. Notice that many of the things we should celebrate are non-financial. Financials are in fact a lagging indicator of success. By the time they are in the book, they cannot be changed. It is the other accomplishments that lead to financial success. They need to be celebrated and rewarded, shared and communicated, and then repeated!

Has your company earned the right to celebrate their strategic plan this year?

If not, consider giving us a call to see if we can help you create the winning plan that earns celebrations for years to come!

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