Strategic Planning & Growth Management Frequently Asked Questions

• Why is strategic planning so complex and difficult to implement?
• Why are plan objectives seldom achieved on time and/or within budget?
• How do you get past politics when bringing various groups together to forge a plan?
• Planning takes so long and distracts from the daily running of the business, is it worth it?
• Is the plan we have for out bankers and investors the same as the one we use to run the business?
• How much should a plan cost and how long should it take to develop and implement?

Why is strategic planning so complex and difficult to implement?

The “how to’s” are really not that difficult or complex. Many planning systems, however, make the job too hard and too far removed from reality. The result is that new ideas don’t take hold and are soon gathering dust on a shelf. In some organizations, for example, there are Vision, Mission and Value Statements, just for starters. It’s no wonder people are confused and go their own way. At Advent, we stick to the basics. Our programs are lean and mean to better help you get the planning job done.

to top

Why are plan objectives seldom achieved on time and/or within budget?

A traditional plan may set fixed objectives long before the due dates for their achievements. Additionally, planning is often viewed as a series of documents, not a dynamic process. And, with long-term due dates, it is virtually impossible (due to a variety of factors that just can not be controlled) to predict the availability of resources that far ahead. The result is that many plans are doomed before the ink dries on the paper. At Advent we do things differently. Results are set closer in. Long-term objectives are identified as guidelines, not fixed commitments. And we evaluate progress in terms of both time lines and variance to factor in the currently unknown. With our approach, you achieve terrific results, not nasty surprises. In fact, many timetables are actually collapsed.

to top

How do you get past politics when bringing various groups together to forge a plan?

Part of the problem with, and strength of, politics is that they are usually locally rooted. As long as the plan, the planners and the concepts behind the plan were “not invented here,” they may face unreasonable resistance. While nobody may argue the general direction the business is going (although they sometimes do), there is almost always less unity on how to get there. There may also be an acceptance gap in people’s understanding of either the challenge or the priorities being promoted. If they don’t understand, or don’t get “it” they aren’t going to as supportive as you want. To get past narrow self-interest and lack of understanding, present each planning initiative as a purchase that will make their lives better. When they think they want (or need) the action, they will be first in line to make it happen.

to top

Planning takes so long and distracts from the daily running of the business, is it worth it?

Most of the effective planning being done in organizations happens outside the formal planning process by the people actually doing the work. That’s why things keep running. Translating the tactical successes achieved in the business into elements of the formal plan is always a challenge. The daily planning is always a must. The formal approach has to earn its keep. Many planners think plan elements should conform to some “accepted external model developed by one of the management guru’s of the day.” This makes planning, by design, top down and from the outside, in. Since planning is about increasing the likelihood of success, it should be inclusive in design and largely internal in its development. If, after you have identified how to increase your likelihood of success, you want a “brand” plan, find one that fits what you have already created and use it as an overlay. It may provide some added benefits you hadn’t thought of, but it will also not interfere with the sound operation of the business.

to top

Is the plan we have for out bankers and investors the same as the one we use to run the business?

Yes, and no! Formal business plans (and planning software) force you to take a look at your business in an organized way. They make you write it down. That is always good. They are also fairly extensive documents and more static than dynamic in nature. These business plans speak about the future (promises of treasures to come), focus on the past (justification for why we want more money) and give a flavor of the business as it existed last week when the plan was finished (claim to substantiality). There are elements within this plan that are key to your future and daily operation (navigation and forward movement), but like many things created yesterday, such as newspapers, the plan’s full value is diminishing as the clock ticks. Things will change. Market conditions will dictate departures from the elements of the plan. People will retire, die, move on. Formal business plans are best viewed as fund raising documents. Daily strategic planning is dynamic – treat it as such.

to top

How much should a plan cost and how long should it take to develop and implement?

There are no easy answers for this question. Developing the elements of your daily strategic plan and weaving it into the fabric of your business may cost thousands to create and months to implement. Developing a bank or investor package can usually be accomplished in six weeks, or less. Cost is determined by the scope and nature of your business. While you might consider getting help in preparing your plan, your involvement in its preparation is critical. Beware of those who would tell you they are able to prepare a turnkey plan for you. Chances are it will be expensive, the turnkey will be to their door, not yours and you will still have to put extensive work into making it useful.

to top

For more information about Advent’s Strategy & Growth Services, call 1.800.726.7985.