What Are the Best Practices for Preparing an Annual Plan?
A CEO has developed an annual business plan and feels good about it. He wants input on the best way to communicate the plan to staff, secure their buy-in and create accountability for executing the plan. What are the best practices for preparing and launching an annual plan?
Advice from a group of CEOs:
You have a plan, but is it their plan? People buy in when they have had a part in creating the plan. Your best start is to put your plan aside for now and conduct a meeting with your key staff to draft the company plan as a group. Use what you have done so far to create an outline and to ask questions to guide the discussion. By involving your team, you will not only produce what is likely be a stronger plan, but you will have a head start creating accountability for executing the plan.
How do you construct the planning exercise? Here’s an outline of a company plan discussion:
· Start with a discussion to confirm core values, vision and mission for the company. Cap this discussion with a significant company goal or objective to achieve in 3-5 years.
· Next is your marketing plan for the coming period. Who are your customers, what is your value proposition, and what is your brand promise? How will you succinctly communicate the value proposition to your customers?
