Sometimes in your organization, you have good people who know a lot about the market, the customers, the competitors, the suppliers, the technologies, etc. In this case, you can leverage their combined knowledge to build your strategy rapidly, often as soon as 6 to 8 weeks.
This is how you could do it, using the G.O.S.P.E.L. approach:
Week 0: Plan for the project/workshops, Prepare the logistics, and Align the stakeholders.
Week 1: Get your people to co-create a crystal clear Goal that is specific, measurable, ambitious, but realistic across various time frames.
Week 2: Have your team generate the Options together. Once done, let them do the homework in analyzing your internal and external environment.
Week 3: Get your team to co-define the Strategy based on the principles of Winning Strategy.
Week 4: Task your team with identifying plans to deliver the strategy. Make sure they plan for the commonly forgotten Operating Systems too.
Week 5: Finally, have your team set up the Execution and Look Out. This will smoothen the execution and ensure the strategy remains valid over time.
Week 6: Set aside some time for buffers and project wrap-up.
While intensive, the process can be done along the day-to-day jobs of your team, i.e., you don't need to pull them out of business for six weeks. The required time commitment from your team is five days for workshops; and several hours per week for the reflection or homework exercises.
If you want to know more, the descriptions below will walk you through the process step-by-step.
Week 0: Preparation
It would be best to do a few things before you kick off the process:
Identify the people who need to be invited into the process. There are three reasons for them to be invited, i.e., i) they possess special knowledge or data which are necessary for the strategy development; ii) they possess power, resources, or special influence which are necessary for the strategy implementation. Most of the time, you want the same participants for the entire process. However, sometimes, you don't, e.g., when the CEO/Exec Team intends to set the Goal themselves.
Prepare the project plan and arrange the logistics, e.g., venue and calendar booking, materials print-out, travel arrangement, etc.
Get alignment with key stakeholders (e.g., CEO, CFO, Owner, Board Members) on how the strategy will be developed.
This preparation can take a week (depending on your organization’s speed). Ideally, you should be ready for the Goal Setting workshop by the end of this week.
Week 1: Kick-off with the Goal Setting Workshop
Launch Goal Setting workshop on Day 1. The objective is to define what goal you want to achieve clearly. The workshop output is to fill in the template below, which is very useful in helping us set a clear goal.
There are multiple ways to run the workshop. I have tried various methods over the years. My favorite one is to split the workshop into three sections.
The first section is where we break the workshop participants into several smaller breakout groups (ranging from 2 to 5 people depending on the group size, ideally mixed from various functions). Then, we ask each group to draw a picture of the company’s goal. After they draw it, each breakout group has to present and explain the image to all other participants. I call this approach ‘Painting the Future’ and use it when the company’s culture is less formal and more creative.
Another alternative I use, when the company’s culture is more formal, is to ask each group to write a newspaper headline on a future date (e.g., exactly five years from the workshop date) describing the company’s successes. After they write it, each breakout group has to present and explain the headline to all other participants. I called this approach ‘Writing the Future.’ Either approach requires the workshop participants to imagine and describe/depict the future.
Then, once all the breakout groups have presented their drawings/headlines, you give the participants a short break (e.g., 15 minutes) to allow them to refresh and reset.
In the second section, after the workshop participants return from the short break, we ask them to combine all those pictures/ headlines they heard before into a single goal statement for the company. This exercise is usually interesting because the workshop participants now have a similar starting point and lingo after the sharings in the first section. As the facilitator, you should ensure the goal set is crystal clear, i.e.,
Make it specific
Accompanied with quantitative Metrics
Broken down into short-term, medium-term, and long-term objectives.
Ensure it is ambitious but reachable.
Notice that the output of this second section, i.e., the single goal statement is what we need to fill in the top part of the PPT template. For example, “To become the UK’s #1 Healthy Chocolate Company in 3 years.”
Once this exercise is completed, give the participants a more extended break (e.g., 1 hour for lunch). Again, these breaks are essential for participants to refresh and reset their minds. The breaks also allow the participants to mingle and socialize.
In the third section, once the participants return from the break, we break them into several groups according to their function (e.g., HR group, Finance group, Sales group, Operations group). We then asked each group to:
Translate the new goal into 1-3 quantitative metrics for their function,
Assign targets/numbers for these metrics over the short (e.g., 1-year), medium (e.g., 3-year), and long-term time horizon (e.g., 5-year period).
Once all groups have done so, we ask each group to present their metrics and targets to all participants. Then, we ask all the participants to give feedback to the presenting group.
Notice that the output of this third section is the bottom part of the PPT template.
At the end of the sharing session, we:
Thank the participants for their valuable contribution to setting a clear goal for the company.
Tell participants that we will collate all the feedback, refine the metrics, and send back the participants with the refined and combined template.
Inform them of other planned social activities for the day, such as dinner.
Remind them regarding the next workshop (i.e., Options Generations workshop) on Week 2.
Post workshop, on Day 2, we will type the filled template nicely into the Goal Setting template. And then, you send it to all participants and ask for their reflection and feedback. Give them three days for reflection (i.e., by Day 4, they must submit all of their feedback). Then, on Day 5 morning, you incorporate their feedback and update the Goal Setting template. This will allow you to discuss the final output with the Board members/CEO/your team/whoever is needed.
By week 1, you will have your goal clearly defined. Then, you are ready for the next step, i.e., options generation and assessment.
Week 2: Generate the Options and Perform the Analysis
On Day 1 of Week 2, we welcome back the participants to the Options Generation workshop. The workshop’s objective is to map all the ways to fulfill the goal set in Week 1. The workshop’s output is to fill out the template below, which is very useful in helping us map all the options (whether available or not for the company).
This time, I would break this workshop into two sections.
In the first section, we introduce the concept of how-tree and the rule of 5-hows (i.e., keep asking how repeatedly until it becomes obvious how to achieve the goal).
Once we have explained the concept and the rule, we will split the workshop participants into smaller groups of 2-5 people (depending on the number of participants, ideally mixed across functions) and ask them to create a how tree for the goal by using the 5-hows. As a facilitator, you must ensure the groups are developing the how-tree unhindered, i.e., they must not discard an option even though it isn’t suitable for the company. Don’t allow the participants to judge any options as wrong or stupid. This is the brainstorming phase; any option is valid, fair game. Let the juice of creativity flows freely. There will be time to filter out the options, but for now, we want to map all the possibilities as divergent as possible.
Once the groups have developed their how-tree, we will ask them to present it to all the participants. By the end of this section, the audience will have seen multiple how-trees (i.e., the numerous paths and possibilities for the company).
Then, we give participants a long break (e.g., 1 hour for lunch). Use this period to combine the multiple how-trees into a single, giant how-tree. With this, we are ready for the next section.
In the second section, when the workshop participants return from their break, you show them the combined how-tree. Ask them if anything is missing. If you notice something is missing, probe the participants with “how about X?” and let them discuss. This section’s objective is to ensure all the participants face the same set of options (i.e., the combined how-tree).
Notice that by the end of this section, we can already fill the PPT template above.
Before we close this workshop, we thank the participants for their contribution and explain to them that we now need to choose the best option. But, to do that, they need to do some analysis. So, we introduce Homework #1 to the participants:
We split the participants into 12 smaller groups (split based on their expertise concerning the questions).
Each group is to answer one assigned question from the list of 12 questions below. And they have time to work on it until the end of Week 2 (i.e., they must send written answers by Day 5).
We inform the group that they need to be ready to present the answer in the Strategy Formulation workshop on Day 1 of Week 3.
to be answered
Homework #1: Twelve Questions to analyze the Market, Industry, and Company
Describe the drivers of demand in the industry, i.e., what factors make customers buy more? What are the key trends?
Describe the drivers of supply in the industry, i.e., what factors inhibit the suppliers from selling more? What are the key trends?
How big is the market? How fast is it growing? How big is the profit pool? What are the most important market segments now and in the future?
Is there any new technology emerging that we need to watch out for?
Who are the key players (incl. your company) in the industry? Are they competitive? What is their positioning? What are their strengths and weaknesses?
Who are the key buyers in the industry? Are they hostile? What are their key buying factors? What are their met and unmet needs?
Who are the key suppliers in the industry? Are they concentrated? What is their strategic aim?
Describe the barriers to entry in the industry (if any).
Describe the threats of substitutes for the products (if any).
What assets/capabilities of the company are valuable, rare, irreplaceable, or exploitable?
What are the gaps between the company’s current capabilities with the goal set?
What key levers in the company (e.g., the largest customer, the largest spending bucket, the most productive line, the most valuable employee) make the most significant impact?
Week 3: Formulate the strategy in the Strategy Formulation Workshop
On Day 1 of Week 3, we reconvene again with the participants for the Strategy Formulation workshop. The workshop’s objective is to choose the best option for the company from the list of all available options generated in Week 2. Here, we won’t choose carelessly – Instead, we will choose smartly. The workshop’s output is to fill out the template below, which is very useful in formulating a strategy for us.
Like in the Goal Setting workshop, I would deliver this workshop in three sections.
In the first section, we will start with the homework #1 presentations. So far, all the participants are already aware of the common goal and the same set of options (the combined how-tree). Before we formulate the strategy, we ensure the participants have the same fact-base (i.e., the 12 analytical questions homework).
So, we start by asking all groups to present their answers to the participants and let the participants give feedback, ask questions, or discuss. By the time all 12 groups finished their sharing and received the input, the participants should all have the same starting point for choosing the strategy.
To end this section, we give the workshop participants a short break (e.g., 15 minutes).
In the second section, we will start by presenting the fundamental principles of strategy, allowing the workshop participants to understand what makes a strategy a winning strategy:
The secret of strategy: sharp focus.
The need to understand your customers.
The necessity of a unique value proposition (incl. the concept of Spear and Shield).
The importance of leveraging your strengths creatively.
The imperative to concentrate your resources and effort (as well as the importance of NOT doing).
The value of a reinforcing effect to strengthen over time.
The necessity of a simple, easy-to-communicate strategy (and the power of a simple phrase/word).
After this brief sharing, we will break the workshop participants into 3 to 5 smaller groups (this would allow a larger group size with mixed participants from various functions). Then, we ask each group to fill the A0 size poster of the strategy template. While the groups are filling the template, as the facilitators, we will walk around and ensure their chosen strategic option has a sharp focus. Before the end, we remind the groups to select 2-3 representatives to present the A0 poster.
Once the groups completed their template. We will do a gallery-walk-style presentation. The participants are encouraged to move around the room, looking at the filled posters of other groups, and asking questions or debating with the 2-3 representatives stationed next to their poster. As a facilitator, you also use this time to inspect the strategies and provide feedback.
After that, we give the participants time to go back to their own poster and refine their strategy based on the inputs from the others.
We end the section by giving the participants a long break (e.g., a 1-hour break for lunch).
In the third section, after the participants back from their lunch break, we will ask them to choose the best strategy that the company should adopt. So far, the groups have generated 3 to 5 alternative strategies. Some of these strategies may look similar. But, on the other hand, some of them may conflict with each other.
If all the strategies are similar, we can combine them by asking the participants to create the combined version.
If some of the strategies are very different, we can select the best one by asking the participants to vote on the best version. For the voting, we will split the workshop participants into ten smaller groups and give each group a dot sticker (to represent their vote). The group members then need to discuss among themselves which strategy they will vote for (by sticking their dot sticker to their chosen A0 poster). The strategy with the most votes wins. In the case of a tie, the CEO’s preference becomes the tie-breaker.
By the end of the third section, the participants will have formulated the strategy, debated them, and chosen the best one for the company. We thank their contribution and inform them of the next steps:
On Day 2 of Week 3, you will type the final strategy into the PPT template and share it with them.
They will have three days to reflect on it and to send additional feedback by the end of Day 4 of Week 3.
The next workshop is the Plans Development workshop on Day 1 of Week 4.
Then, on Day 5 morning, you incorporate their feedback and update the Strategy Formulation template. This will allow you to discuss the final output with the Board members/CEO/your team/whoever is needed.
Week 4: Followed by the Plans Development Workshop.
On Day 1 of Week 4, we invite the participants to the Plans Development workshop. The workshop’s objective is to translate the chosen strategy into a list of action plans. The workshop’s output is to fill out the template below, which is very useful in developing plans for us.
Similar to the other workshops, I would split this workshop into three sections.
In the first section, we start by introducing the most important principles in planning:
All plans must match your strategy. Any element in the existing system that doesn’t match your strategy must be adjusted.
The necessity of Hardware, Software, and Operating System types of initiatives.
The importance of prioritizing, sequencing, and pacing the initiatives.
Once we cover these important principles, we split the workshop participants into several groups according to their function (e.g., HR group, Finance group, Sales group, Operations group). We then asked each group to list all the initiatives needed to deliver the strategy.
Once the groups have completed that, ask them to give each initiative a rough magnitude of the estimated net impact on the annual EBITDA profit (range to be adjusted depending on the company size). Even if some initiatives are hard to quantify financially, ask the participant to give their best guesstimate. This score is the measure of Importance.
Score 1 – if less than $1M
Score 2 – if between $1-5M
Score 3 – if between $5-10M
Score 4 – if between $10-25M
Score 5 – if greater than $25M
Similarly, also ask them to give a rough estimate of the timing required to deliver the initiative (timing range to be adjusted depending on the company’s cycle). This score is the measure of Easiness.
Score 5 – if less than three months
Score 4 – if between 3-6 months
Score 3 – if between 6-12 months
Score 2 – if between 1-3 years
Score 1 – if longer than three years
Now, we ask groups to multiply the Importance score with the Easiness score to create a combined score and delete any initiative with a combined score below 9 (the value of the combined score will range from 1 to 25).
Once done, we give participants a short break (e.g., 15 minutes).
In the second section, keeping the participants in the same group as per the first section, we ask them to fill in the template for each initiative:
Explain why the company should pursue the initiatives
Describe the major deliverables.
Determine who should be in charge of delivering the initiative (i.e., the project leader).
Clarify the due dates.
Establish what resources are needed in terms of manpower, money, and political support.
Define how the progress will be tracked.
Explain how it links to the strategy.
Once done, we ask the groups to present the initiatives to all other participants for feedback/questions/challenges. By the end of this section, the workshop participants will have seen all the top initiatives by function.
We now give participants a long break (e.g., 1 hour for lunch).
In the third section, once the participants return from the break, we ask the participants to prioritize the initiatives.
We break the participants into groups of 2-5 people (depending on the size of workshop participants) and give each group three dot stickers. The group members then need to discuss and agree on which top three initiatives the company must focus on (they would stick the dot stickers next to the initiative names).
By the end of this exercise, we can see the initiatives’ priority ranking (i.e., from the initiative with the highest number of stickers to the lowest number of stickers). As facilitators, we invite the participants to reflect and comment or give feedback on this ranking of initiatives. If there are initiatives with no stickers or very few stickers, we trigger the discussion: “What should we do with these initiatives?”
Finally, for the top three initiatives, we ask the participants whether the nominated project leaders are the best person for the project. Remind them that they better put their most capable people on the company’s most important projects. After the discussion, we can either confirm or change the nominated project leader.
By the end of the third section, we should have all the information needed to fill in the Plan Development template above. On Day 2 of Week 4, you will fill and circulate the template. The workshop participants are given the opportunity to reflect and provide feedback until the end of Day 4 of Week 4. Then, on Day 5 morning, you incorporate their feedback and update the Plan Development template. This will allow you to discuss the final output with the Board members/CEO/your team/whoever is needed.
Week 5: Capped with the Execution and Look Out Workshop
By Week 5, the company already has its goal, strategy, and plans. It now needs to shift into the execution mode. To ensure the successful delivery of the strategy, we need to put the basics of execution in place. In addition, to ensure the strategy remains valid, we must put the look out process in place.
This time, we will start with homework. On Day 1 of Week 5, we send Homework #2 to the participants, split into five groups, and ask them to complete these five tasks below in 2-3 pages of Word document. The 2-3 page written proposal must be submitted by the end of Day 4 of Week 5.
Homework #2: Five tasks to support the strategy execution
Group 1: Ensure everything is consistent with the strategy
They have to review the company’s standard operating procedures, practices, websites, policies, product offerings and positioning, employee value propositions, etc., and identify what needs to be updated.
Group 2: Support the execution with a systematic and compelling communication
They must create a compelling story about why the company must execute the strategy successfully.
They need to create a communication calendar for the next 12 months.
Group 3: Manage the performance well
They need to design a Programme Management Office to monitor the initiatives' execution.
They must decide how to integrate the new plans with the company’s Financial Plan/Budget/Target.
They need to propose a special incentive to deliver the strategy successfully.
Group 4: Adjust the culture to boost the strategy
They need to review the company’s culture (including the unwritten and informal practices) and identify what needs to be adjusted and how to do so.
They need to determine what symbolic actions the middle management can take to exhibit support for the new strategy.
They need to identify people on sites who would be good change agents.
Group 5: Determine the look out process
They need to propose a schedule of monthly, quarterly, and annual reviews to assess the results.
They must propose how to obtain constructive feedback from customers regularly and how to respond to the feedback.
They have to propose a new mechanism to track the latest changes in the market.
Then, on Day 5 of Week 5, we hold the Execution and Look Out Workshop. I would deliver the workshop in 3 sections.
In the first section, we will ask each group to present their proposals to all other participants. Encourage the participants to give feedback. As the facilitator, you must ensure the participants’ proposals are ready for implementation. Once done, call for a long break.
In the second section, we give time for the groups to refine their proposal based on the inputs and feedback from the first section. Don’t forget to ask the participants to email you the revised proposals.
Once done, you should wrap up the entire journey. Thank the workshop participants for their contributions and hard work in the last few weeks. Walk them again through the journey and remind them of what they have produced together:
Week 1: Goal Setting
Week 2: Options Generation and Analysis
Week 3: Strategy Formulation
Week 4: Plans Development
Week 5: Set up for Execution and Look Out
Finally, announce that you hand over the strategy to them and ask for their commitment to delivering this strategy they have developed. Depending on your company’s culture, you may want to do something more symbolic rituals. However, this is entirely optional.
Week 6: Buffer and Wrap Up
Week 6 should be kept for buffer and project wrap-up.
That is it. By the end of these six weeks, you will have your strategy planned, stress-free.
Have fun leveraging your team to rapidly build the strategy.
