5 Tips for Strategic Planning

FROM FARMERS STATE BANK'S CEO, CHARLES HOLLAND

Get feedback from your top customers

The best way to gauge how you're performing as a company is through the eyes of your customers. Before you sit down with your team to plan your goals for the upcoming year, you need to get clear on what you do well and what could use a bit of work. What better place to find answers than through the people you're serving every day? Having a phone call or meeting with your top performing customers will not only give them a chance to be heard, but it may open your eyes to blind spots you and your team are otherwise unable to see.

Free yourself from distractions

Eliminating distractions for your executive team is never easy. Find an offsite location removing them from any internal business that might interrupt or put you off task. Everyone must commit to being present meaning no cell phones or emails. Set a clear intention for the day of creating a great plan for the new year. You'll be surprised how much you can get done when everyone is free from distractions.

Surround yourself with a strong team

The best people to help you plan your future are the ones who aren't afraid to bring new ideas to the table. They must be willing to roll up their sleeves, question the way things are done, and push the envelope. No "yes, men" allowed. You want to surround yourself with people who can see the vision you have for your company and are willing to push each other to get there.

Think Big!

Complacency kills and just because things may be going well with your company now, doesn't mean they can't suddenly go horribly wrong. Your goals should give you butterflies in your stomach and make your pits sweat. They should be big, hairy, audacious goals that challenge and excite you. Have your team come up with their goals and push them to reach for 20% more. The only way to truly move needles, make changes, and become better than the previous year is to get everyone outside their comfort zone and reaching for more.

Make it visible year round

When your plan is finished, keep it visible so you can see it everyday. Tape it to your wall. Frame it. Pull it out at board meetings. Pass it out to your team so they are as excited about it as you are. The goals you've come up with in your strategic plan should be the filter for every decision you make all year long. If everyone on your team is using the filter, every decision made will go to support your goals. Strategic planning is the most important thing you may do for your business all year. Make sure it's visible.