As a part of annual planning, established organizations and startups inevitably have numerous objectives and tasks they want to accomplish. As a result, teams convene and set a long list of activities and initiatives to undertake for the coming year. Unfortunately, while the list may appear impressive in length, clarity of purpose and intent is often missing.
Many goals do not translate to quality objectives, and being busy does not imply an effective or efficient use of resources.
Instead, objectively approaching the exercise and asking a few critical questions will produce a more focused and tighter set of objectives to undertake. Answer the following questions to help set your organization and team objectives.
What are our organization/ team priorities?
Confirm our overall purpose and what we have set out to achieve. What goals have we set in our most recent strategic plan, and what initiatives did we commit to undertake? If we have a BHAG (Big Hairy Audacious Goal), are we focused on the main initiatives that will help us attain that goal?
What will set us apart from our competitors?
Recognize the factors that will make us the best in the industry and reflect on the elements and actions we need to undertake to help create this differentiation.
Will any market conditions and trends impact us?
The market is ever-changing, and social, political, economic, technological, and judicial factors may significantly impact the overall market or our industry and business. Therefore, evaluating how we may need to respond to these is an essential exercise in the annual planning process.
How are we evolving?
If we remain who we are today and do very little, we will soon find that we are regressing and diminishing our influence. To be competitive requires constant change. We may talk of innovation, but do we pursue this idea and act on it?
What’s most important now?
While several factors will affect an organization, not all have an equal impact, and similarly, not all initiatives and tasks move an entity forward with equal force. Therefore, focus on the main elements that distinguish you rather than having a long list that delivers little impact.
This annual planning exercise should produce a set of organization and team priorities. For each focus, there should be clearly defined objectives (these are not tasks) where the outcomes can be measured. Too often, organizations will embark on numerous missions, but when asked how they will measure success, they cannot answer with certainty. Less is more, and doing a few things well will ultimately entail doing many things efficiently and effectively.
Finally, always consider the likelihood of accomplishing your objectives. People and financial resources should align, and shifting commitments must include a corresponding budget allocation where necessary. The process is not a simple one, and the organizations that deliberately plan for it, allocate the time, and methodically work through it often appear to be working like the perfect clock, never missing a tick all the time. Begin the process a least a quarter before the year’s end, before you create budgets, and make this regular process of review rather than a one-off seismic undertaking.
