Involve Your Team in Annual Planning
2020 did not go by the books. It did, however, shed light on your business’s strengths and weaknesses, taught you how to be more agile, and catapulted you into a new normal of doing business. Annual planning is the most important function of a business owner – and this year (more than ever) it’s important to reflect, regroup and get laser-focused on 2021 goals!
Your annual plan identifies where your company should be by the end of the year and what actions are needed to get there. While every business owner creates their strategic annual plan with the intention of following it, we have found that some set their Action Plan on the shelf and only open it back up around this time next year when it is time for 2022’s planning. How do you prevent this out-of-sight-out-of-mind debacle? Create accountability by involving your team in the annual planning process!
When your leadership team is involved in annual planning, you will align your company with common organizational goals and give each team member a clear vision of their role in achieving them. When your team is on the same page, expectations for the year are set and your employees become accountable to meeting them. Your organizational goals become concrete when more people are involved and are aware of the goals you have set for your organization.
Involving your team in the strategic planning process will also foster a sense of ownership over the annual plan. When creating the plan, team members may have ideas on how to create efficiencies in your organization, give insight into problems they see that could be harming your profitability, and can help create growth goals for your organization (such as increasing customer satisfaction, retention rate, or training goals for employees in the organization). Their contribution to the annual plan will motivate them to follow it and strive to reach their quarterly and annual goals.
Lastly, including your team in annual planning will increase motivation to reach the goals they helped set for the organization. A day spent strategizing will recharge your team and create focus for your next business year! It will also build confidence in your team’s decision-making skills to take your business to the next level.
Bring your team to Annual Planning Day on December 10th from 8:00 a.m. to 2:00 p.m. at the Machine Shed (also offered virtually). We are following CDC guidelines to ensure safety at our in-person workshop. To sign up, click here!
With the guidance of certified Action Coaches, develop your strategic 2021 business plan and create actionable steps to implement starting January 1st. Take your dreams and goals and turn them into actions.