Strategic Plan Implementation

“It is our attitude at the beginning of a difficult undertaking which, more than anything else, will determine its successful outcome.” - William James

While your strategic plan implementation is important, your underlying attitude is the rate-limiting step for positive results.

These days, many of the conversations at business networking functions and across the business social networking sites convey an attitude of scarcity and fear.  I think it should be just the opposite.

If your firm is still doing business and you have time to fear, you have time to focus on creating abundance.  Instead of fearing a loss of clients, we have been focusing on increasing the depth of relationships with our current clients.  After all, business is about relationships on some level. 

By focusing on your current clients and how you can help them grow their business, your firm may also benefit. 

Attitude is the key.  How are you spending your time?

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Currently, we are working on the completion of our planning session for 2009.  I often remind our clients the lessons that can be learned from your peers in other industries.  This especially can be true with regard to strategic planning. 

An excellent business blog, I have been following is Market Mine by Penny Herscher, CEO of FirstRain.  Penny's blogs are informative and practical.  In her most recent post, Startup to IPO: Building your annual plan, she mentions three points of emphasis for her team.

1) a strategy for greatness
2) team alignment
3) a pragmatic roadmap of how we are going to achieve our plans within a reasonable budget.

As a virtual business, we have several partners with which we communicate to provide services for our clients.  In addition to the roadmap, we focus heavily on team alignment.  Our structure dictates that all the components of our team have a focus aligned with our overall strategy.

Whether the client equation involves emerging markets or social networking, the team has to provide solutions that are aligned from the front-end planning. 

I look forward to completing our process and sharing our experiences in 2009. 

During your planning sessions, what are your areas of focus?

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This week, I continued my annual ritual of reading The Four Agreements by Don Miguel Ruiz.  For the past 4 years, I have taken the time at the beginning of each to read the book to remind myself about the lessons that can be learned from this book.  The book is focused on the following personal agreements made by an individual:

1. Be Impeccable With Your Word
2. Don't Take Anything Personally
3. Don't Make Assumptions
4. Always Do Your Best

I understand that life and business can be complicated.  With that being said, I think the four agreements in this book can be useful for personal and professional reasons.  From a business perspective, the agreements can help to create a sustainable culture for your company.

I mention culture for a company because the culture is often overlooked during strategic planning sessions.  Additionally, culture will trump strategic implementation every day of the week.

Whether you are a business development professional or a social entrepreneur these agreements can assist you.

Do you have an annual activity to begin your year?

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"With the world in turmoil and doubt, the American people, faithful to the values that have always defined America's identity, have expressed with force their faith in progress and the future. At a time when we must face huge challenges together, your election has raised enormous hope in France, in Europe and beyond."
- Nicolas Sarkozy, French President
(Reuters)

As President-Elect, Barack Obama will become the first African-American
President of the United States.  With that being said, the focus should not be on his ethnicity.  The focus should be on the goals of the campaign and how those goals will shape the future of the United States and with President-Elect Obama's global peers, our world.

The strategic implementation of President Elect Obama's campaign plan was the key to his campaign victory.  His campaign stayed focused and did not stray when competitors tried to steer the focus away from the real issues.  They utilized online social networking, virtual teams and other online communities to enable people from different ethnicties, religious beliefs and social-economic backgrounds to collaborate for a common cause.

In politics as in business, the great leaders surround themselves with solid advisors.  As a leader, President-Elect Obama shifted paradigms by working with and being supported by Republicans including Senator Richard Lugar and former Secretary of State Colin Powell.

The future holds many unknowns for the United States.  If President-Elect Barack Obama and his team operate during his term as they during his campaign, the United States will move in a positive direction.  Additionally, we must remember that the actions of thousands of people contributed to the success of his campaign.  Change will not happen just because Barack Obama is the President-Elect.  Every American must continue to take action to make our country a better place.

What are you doing to impact your present and our future?

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Making a virtual company work takes careful planning.  The major components are relatively simple.  Those being attorneys, accountants, C-Level executives and understanding your product.

What if you are an Indiana life science company looking to working with a South Africa life science company?  Not only due you have cultural issues, you will also have different regulatory issues to manage.  Additionally, how will you ensure the communications are seamless and real-time?

With regard to the communications, we are working with a client to utilize the online social networking infrastructure in a business social networking environment.  The goal is to create a collaborative culture and decrease communication cost.

For the regulatory component, our client and partner, Safis Solutions provides excellent advice for ensuring compliance.  Gretchen Bowker, Director of Regulatory Affairs and Compliance Services has a great article relating to virtual companies in the October 2008 Safis Solutions Newsletter.

How do you manage the components of your virtual business?

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Last night, I spent four hours in a strategic planning session for a non-profit board on which I am chairperson.  During the meeting, I was reminded about a few business benefits of participating on a non-profit board.  Of course the opportunity to impact the people in my community is never lost on me.  From a business perspective, you can learn about best practices for business networking and business development.  Additionally, you can learn what not to do in a board meeting for your business.

For the first two items, the non-profit world must constantly get out their message and cultivate donors and volunteers.  This is no different than cultivating clients both internal and external.

As for learning what not to do, the lessons can be endless.  There are several lessons but two that I think are most important are getting materials out early and board members reviewing the materials.  This can ensure a productive and action-driven meeting.  One of the best blogs I have read about this area is the Market Mine blog by Penny Herscher, President CEO of First Rain. 

A good example of an organization that crosses the line between non-profit and for-profit is the social entrepreneur-driven organization.  Have you reached out to one?  You may learn something new.

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I'm in the middle of reading Barbarians at the Gate: The Fall of RJR Nabisco by Bryan Burrough and John Helyar.  Unlike many business books out there, this book is a history lesson as well as a great story on the work that goes into making a deal happen.

One of the more interesting themes in the book is the value of strong social networks and how they relate to strategic plan implementation.  In the book, F. Ross Johnson leverages his relationships to accomplish most of the deals he completes. 

Another theme is exemplified by this description, "After dominating the cigarette business for so long, the Reynolds line executives had grown complacent."  This line was describing arrogance of the Reynolds folks towards Philip Morris.  In many ways, this attitude is what has hurt many companies in the United States.  By growing complacent, companies have fallen behind the curve.  Now, they are fighting for new business development opportunities or going out of business.

If you have read the book, I would love to hear about the theme that resonated with you.

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This comment by Ms. Michelle Rhee, Chancellor of DC Public Schools represents the philosophy that all administrators and staff should have in the K-12 education system.  With the demographic trends continuing to show a widening gap between in the education landscape, I think it's about time that adults stop being the lead weight holding back our students. 

One big issue is the position taken by teacher unions to maintain something close to status quo.  Maybe they should take a look at the issues faced by unions in the business community.  Major corporations are not including unionized areas in their strategic implementation plans.  In a more basic example, the unions of the U.S. automakers have forced the creation of alternative business solutions to make up for financial issues.

I thought we learned a long time ago that, "The definition of insanity is doing the same thing over and over and expecting different results."

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This morning, I read a press release with title "National Law Enforcement Leaders: Dropout Rates Fueling Violent Crime" issued by an organization named Fight Crime: Invest in Kids.

The global education landscape has many issues.  This press release focuses on the issues in the United States.  Once again, the pundits and officials have convened to report on a report that high school dropouts in the United States are less likely to be productive members of society.

The press release speaks to the lost wages and taxes, and the costs for incarceration. The sad thing is that this is yet another group of adults that are wasting money gathering data that yields the same results and trends from a decade ago.

In my opinion, let's stop wasting money on reports and invest (time, money and skills) in our youth.  Too often, we cut the funding or invest in archaic, corrupt or mismanaged school systems.  If these school systems were corporations, they would be out of business. 

The corporate world needs to take action as well.  For a sustainable business, you need a diverse a deep talent pool.  As dropout rates increase and graduation rates decrease, the talent pool is depleted.  One way to help your chances is to include high school internships in you strategic plan implementation.

You might ask what we are doing at S4X to help the cause.  We require our employees to volunteer 1% of annual hours worked.  Personally, I am a mentor in the Starfish Initiative in Indianapolis.

You might want to pay attention if you are not involved.  The future of your business is at stake.  In the United States, we easily create business solutions yet we have difficulty creating solutions for the education system.  What are your thoughts on the education system in your area?

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Yesterday, I attended a performance in Chicago by the Born Again Floozies.  A good friend of mine is a member of the band and invited me up for the day.  My plan was to use the day to recharge and relax.  I was able to do both with an added bonus.

The bonus was an introduction to a potential business partner.  This potential partner is the president of a global corporate security firm and friend of my friend's husband.  We talked about our virtual business model at S4X and the business consulting we provide for our clients.  He explained the intricacies of corporate security.

Moving forward, we both believe by working together in some capacity we can provide more comprehensive business solutions for our clients.  Of course, the next meeting will be at another Born Again Floozies concert.

Have you attended a concert lately?

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            OR            
 

Everyday the news seems to be getting worse.  High gas prices, high food prices, on and on.  But as the say goes, "one person's trash...".

In today's economy, there are still deals being done.  Yes, the credit markets are tight.  That does not mean the economy is stopping its progress.  Are you reviewing your strategic plan?  From a business consulting perspective, Our clients are looking to global joint venture opportunities, virtual business models and acquisitions to take advantage of the current market

Are you turning your trash into treasure or will another organization do it for you without you benefiting?

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Yes, you read the title correctly.  On the recommendation of a colleague, I've just started reading, The Art of the Start by Guy Kawasaki.  After I researched Guy, I found his blog, How to Change the World.

In the book, Guy talks about starting and not waiting for perfection.  I think this holds true for most situations.  For business blogging, I have to remind myself to write without limits then send it.  I can refine it later.  If you are in the business development role, you will never have the perfect situation to further the relationship or make the sale.

As a solutions-based business consulting firm, we work with our start-up clients to help them understand that starting the business now is better than waiting for the "right time".  If they aren't moving forward on their idea, the world will pass them up.

I recommend this book for many reasons but the primary reason that it speaks to starting now.  Business formation does not need perfection to happen, it needs action.  Are you starting or planning?

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A fuzzy business model can find clarity with a good focus group.

If you are an established business or a group working on strategic planning and business formation, focus groups can be a key part of your success.

Last week, I participated in a focus group for a client.  Additionally, this particular client is a NGO completing the strategic implementation of a multi-phase marketing effort.

During the session, I had the opportunity to be an observer.  By participating, you are able to hear the questions you should be asking in internal meetings.  Data on demographic trends is great but listening to a person face-to-face is better.

I have shared these thoguhts with clients in the past, but thought I would share them with those of you whom I have not had the opportunity to meet.

Are you asking the right questions?

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There are many article and posts about the direct benefits of business blogging.  I thought I would share a quick example of an indirect benefit with regard to business development and the implementation of your strategic plan.

During a conversation on Saturday at a reception for a wedding of a colleague, our blog become the topic for discussion.  I was asked why we decided to use business blogging.  An obvious question.  To my surprise, I was then asked to explain our business model.  The person asking the question had reviewed our blog on the recommendation of a co-worker.

I enjoyed the opportunity to discuss our company and our business blogging partner Compendium Blogware.  Through the people who read are blog, we are able to market on a personal level.

When was the last time your marketing efforts were discussed at a wedding?

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In a press release on July 1st, CoLucid Pharmaceuticals announced the closing of their Series B financing of $25US million. This is not out of the ordinary with regard to the financing.  On the other hand, it is a good example of a potential business model for your company to utilize.

CoLucid was founded in Indianapolis, Indiana.  However, the business operates from several locations.  CoLucid is a solid example of a virtual business.  According to a recent article in the Indianapolis Star, "Its three full-time researchers work in Research Triangle Park in North Carolina. Its chief executive, a former Lilly manager, works in Boston, where he most recently was a senior executive at a drug-discovery company specializing in insomnia. Four of its five investors are based outside of Indianapolis."

Whether you are a social entrepreneur or a business solutions firm, the virtual business model may work for you.  If you are looking to explore this model for starting a new firm, make sure to analyze all aspects of the model as they relate to the strengths of your team.  For starters, increased flexibility and decreased overhead are a couple of the benefits of this model.

Are you planning expansion into emerging markets - domestic or global?  The virtual model may work for you.

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Stay healthy. Help the environment. Save money. Business Development?

Yes, I did say business development.  In a world of online communities for social networking like Facebook or LinkedIn, a simple yet complex sport can lead to a healthy business and a healthy you.

While purchasing two of the company vehicles for S4X, I had the opportunity to have a great conversation with Brian Gootee, the owner of Gray Goat Sports.  We discussed how cycling can help your personal life and your business.  Brian mentioned his experience of observing the business cycling culture of California while on a trip for his other endeavor M4 Sciences.  Instead of the golf course, the deals were being done on 2 wheels.  There are even organizations including, CEO Challenges, combine business and cycling.

My advice to a client considering the acquisition of several "Cruiser" bicycles for his employees.  A healthy and happy employee is a productive employee.

At S4X, being eco-friendly and physically active are a part of our core principles.  We are commuting to work via bicycle, walking a few minutes to lunch rather than driving and competing in organized sporting events.  For my part, I am planning on running a Half-Ironman in October.  I'll let you know how it impacts our quadruple bottom line.

When was the last time you thought about bicycles being a part of your fleet of company vehicles?  On a smaller scale, have you tried commuting to work via bicycle?  Once you make it a part of your culture, you know what they say..."It's like riding a bike, you never forget."

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