If you are comfortable with your strategic planning, then you need to shift your perspective, escape the trap of “tried-and-tested tools” and focus on key areas that very likely will bring “fear and discomfort,” said business consultant Stacey McKibbin in a presentation to San Diego business executives.
McKibbin, president of Multivariable Solutions and a coach with Sage Executive Group, challenged business leaders to understand that in today’s hyper-competitive environment, strategy “is more of an intuitive and messy process, not the analytical process we’ve made it to be.”
The breakfast meeting in early November was sponsored by Sage Executive Group, a fast-growing, San Diego-based peer advisory group for top managers ranging from CEOs and C-level executives to sales and marketing directors.
Effective strategic planning embraces the unknown, requires unwavering focus by a small group of top executives who have inherent trust in each other, and demands a commitment of time each week over a year or more. “Once strategy is nailed, execution is very systematic and sequential,” McKibbin said.
It is critical to assemble the right team, a group of four to five leaders drawn from the top ranks such as CEO, co-founders, head of sales or marketing, all with one attribute in common – trust. The team’s main job is to determine the focus for the future, concentrating not on everything the business does for every customer, but on its most profitable and value-driven core. This is the 7 percent that effectively defines the company and draws customers who are attracted and sustained by “value” of what the company provides and are willing to pay for it.
“This becomes you Number 1 thing to focus on,” McKibbin said.
For more information on McKibbin’s presentation, you can reach her at firstname.lastname@example.org or (844) 433-3328.
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