Welcome to part 3 of 3. In this segment we turn the plan into measurable behaviours that create results. This is where the rubber meets the road!
In part one, we recorded some important goals. Among them:
- Field of play – Geographic scope, primary industry verticals, and product/service focus.
- KPIs – Key Performance Indicators – The top 3 to 5 measurements that will tell us how we’re doing against plan.
- Profit goals – Pricing strategy, margins or market price points.
- Gap - Current run rate or performance compared to the company’s 12-, 24-, and 36-month goals
In part two we segmented clients according to strategic goals and organizational readiness. Now we put it all together by using performance gaps to set annual goals and chunking the annual goals into quarterly and monthly milestones. The most important thing to remember is that each milestone must be owned by an individual and have a defined delivery date. Everything about the goal must be measurable. Broad, fuzzy goals are useless.
Build in checkpoint meetings with milestone owners early enough that there is time for course corrections where needed. You will find out at the first checkpoint meetings how well you defined the desired result and how much buy in you have from the management team.
I’m going to wrap up by quoting from Execution – The Discipline of Getting Things Done (Bossidy and Charan, 2002):
What exactly does a leader who’s in charge of execution do? How does he keep from being a micromanager, caught up in the details of running the business? There are seven essential behaviors that form the first building block of execution:
- Know your people and your business.
- Insist on realism.
- Set clear goals and priorities.
- Follow through.
- Reward the doers.
- Expand people’s capabilities.
- Know yourself.
Recommended reading: Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Growing Firm (Verne Harnish 2002)