Creating your company strategy for the year is no easy task. Given how 2020 unfolded, it’s become increasingly difficult knowing that at the drop of a hat, you may have to throw out the plan entirely. Even if your direction shifts, it's critical to have a dynamic plan in place to guide your team's actions on a daily, weekly, and monthly basis. As the old saying goes, “If you fail to plan, you are planning to fail.”
So how can you strike that perfect balance of having a plan in place, while also being open to change? We spoke at length about this topic with Emad ElShawa, Chief of Staff at Fundbox, on our Aspiring Ops interview series. He shared how his team views the strategic planning process and offered his advice for other startup leaders.
According to Emad, it’s all about breaking down your company goals into smaller segments. Look at each one of the higher level goals you’ve created. Go a layer deeper and start picking apart each goal to determine what department will be held accountable for success, as well as identifying key results your team must hit in order to reach a successful outcome.
Breaking down your company goals is something our team at Elate has been preaching about for a while now.
The key differentiator for Emad and the team at Fundbox is breaking these goals down into monthly segments. All too often companies reach the end of a quarter only to reflect on their performance and realize that the goal they originally set out to achieve had shifted somewhere along the way.
Don’t let your company fall victim to this trap. Help your team create a rhythm for reviewing the strategic planning process that makes sense for you. Let your team’s results guide whether the outcomes you’re striving for should change.
Need help identifying how to keep track of your team’s strategic plan? Lean into Elate’s expertise and let our team guide you on your journey. Request a demo today.