Have you welcomed 2018 with a clear strategic vision?
We’ve all been to the corporate retreat where you spend two days loved up with your colleagues in the hope of developing a strategic plan. You have already spent hours before the retreat preparing your presentation on what your business unit is going to achieve and then you have the post-workshop meetings reiterating what was previously discussed. Then the report gets presented to the business at a lavish morning tea and we clap and cheer, then go back to our desks where the reality of an overwhelming action list means the strategy gets thrown in the ‘too hard’ basket and never gets done. Sound familiar?
If your project or business could do with a strategic plan in 2018 that will be easy to understand and, more importantly, actioned, follow these three key steps:
1. Understand your objectives
We are all in the business of being profitable so it is highly likely that the objective will be around a sales number or profit target. Having the magic number boldly out there for the whole business or project team to aim for is very powerful. Objectives must be:
Realistic in terms of resources and budget;
Achievable with respect to marketing conditions; and
For example, ABC Project will:
Sell 250 blocks by 31 December 2018; and
Settle 120 blocks by 30 June 2018.
2. Develop the strategies
Strategies are the ‘how’ and explain in what way the initiatives will reach the objectives. At Property Republic, we like to think in pillars. For example, in order to reach a project sales target of 250 for the year, lots of things have to come together to ensure the customer is willing and ready to purchase. Every discipline has a significant role to play – it’s not just the responsibility of the marketing and sales team. Break down your strategies into areas such as:
3. Drill down with the action plan
The action plan describes in great detail exactly how strategies will be implemented to achieve the objectives. The plan should document:
Action step (what will happen)
Who is responsible
Date to be completed
Barriers and a plan to overcome them
Collaborators (who else should know about this action)
Approaching the development of a strategic plan in a workshop environment means that it can be delivered with group buy-in and within a few hours. Plus, you will end up with a user-friendly document that can be broken down into bite-sized chunks.
If your team could use some assistance putting together their 2018 plan, Property Republic’s in-house workshops are geared to helping the project team set up for success by promoting team alignment, transparency and accountability