Adapting to an Agile Strategic Plan
So many things changed in 2020 and how we plan in business is one of them. Typically we would have strategic plans with 5 or 3 year timelines and quarterly check ins, but now it is all about agility.
The environment is changing so quickly that our planning cannot be rigid. We have to be very responsive and adapt our strategies to our changing environment. But can strategic planning and agility really work together? Are visions, goals and KPIs still relevant in this climate? Well yes, there is such a thing as having an agile strategic plan.
I do think that all the components of a traditional strategic plan are still relevant, but the execution of the plan needs to change. Here are five steps to adapting your strategic plan to an agile plan.
Switch to a monthly review meeting instead of the typical quarterly meetings. It will allow for a more frequent assessment of the plan and an opportunity to respond quickly to any changes. Of course there is a need for an emergency meeting in the wake of a major market shift.
Constantly assess your business environment to identify any changes that directly affect your industry and business. This can be done during your monthly review meeting. Analyze such changes and be clear on how they affect your business.
Adapt your goals and strategies to respond to changes in your business environment (as referenced in #2). What type of shift needs to happen in your business? Are they long term or short term? This will be determined by your assessment of the environmental changes.
Understand your performance results and be open to adjusting your KPIs based on the assessments above. An underperforming KPI may actually be a healthy result under certain circumstances.
Having a mindset shift to understand that the only constant in your plan is your vision, everything else is subject to review and change. An agile strategic plan requires innovative solutions, flexibility and adaptability.
Do you need help on your 2021 plan? There are three ways I can help:
Check out my plug and play strategic plan guide for really easy to follow implementation.
Enroll in my strategic planning course for a step by step walk through the process
Contact me directly for one on one consultation