Setting Goals as a TeamPosted: December 10, 2014
A great time to think about having a Team Strategic Planning Session is at the end of your fourth quarter. It’s the perfect time to engage in goal setting and strategy development for 2015. In the past, I’ve touched upon Strategic Planning Sessions, but I wanted to dive a little deeper into their value and importance this week.
Very few business owners are willing, particularly at the end of a year, to take the time to stop business for a day or two, gather their key executives together, and discuss their business goals. That said, it has been proven time and time again, that those businesses that actively participate in goal setting are far more likely to meet, if not exceed their business goals.
A main component of a team strategic planning session is goal setting, which is more powerful when done as a team. Having your key employees understand the goals and objectives of the business and how they will contribute to the strategies to achieve these goals is key.
Bringing a third party business advisor into the session is also important to consider, as they are an unbiased expert there solely to help your team, and ultimately your business. Their expertise will provide direction and support in areas you cannot as well as help steer the conversation to constructive takeaways. How can an advisor, and these sessions, help exactly?
- Clarifying the crucial long term objectives
- Identifying pressing business challenges that are hindering growth
- Focusing on building a profitable business one strategic step at a time
- Formulating actionable plans to implement those ideas
With your executive team participating at these sessions, they can take a more active role in ensuring the goals are met through strategic planning and execution. Having them be accountable and have ownership of the direction of the business helps you build a stronger more viable team. As the owner, you are able to follow up with your team on the actionable items and ensure your meetings are effective and efficient.
Have you benefited from team strategic planning sessions? Do you feel your team is need of one? Let me know your experiences in the comments section below!