Scheduling an Ordinary Strategic Planning Retreat? Cancel It.

Is your company preparing to conduct it’s customary annual retreat? You may want to scrap it and instead create a breakthrough event.

In the best of times, companies fall into a strategic planning rut. They follow the same routine each year, lulled into complacency by their accomplishments. The company’s leaders go through the motions, staying well within their comfort zones. Maybe this approach has worked for your company until now.

Consider the following: what if your pre-pandemic success occurred despite your lack of strategic planning? In other words, there could be other reasons your organization was successful. Perhaps the founders made smart choices, you exist as a monopoly or your competition is incompetent.

If you are “winning” over your competitors, there could still be a problem. Your entire industry might have lost its way and be under an invisible threat. Therefore, you could be renting video-tapes or making buggy-whips when the world is about to turn away from your offerings.

A very different approach to your strategic planning would be to start with the disruptions that COVID-19 has wrought. While it’s easy to fixate on the enormous obstacles on the road back to business as usual, here’s a thought experiment.

What if the pandemic were a room you have always lived in, with several doors? Suddenly, a number of them have opened while others have slammed shut. A few have remained the same.

Most companies are likely to treat this once-in-a-lifetime disruption as an obstacle to overcome. But what if you were to see it as a collection of doors: opportunities and dead-ends? If you were to do so, you may seize to chance to plan a new strategy in the following two ways.

1. A breakthrough event

Companies whose leaders long for a return to the “good old days” are the least likely to get themselves out of a strategic planning rut. They are probably accustomed to treating the activity as an everyday, low-stakes ritual. If this strikes a chord, use the opportunity to declare your next retreat, the one that creates proactive, game-changing plans.

While this may not be possible to achieve every year, there should be a clear distinction between major and minor opportunities. When there’s a big disruption, as there is now, go for a breakthrough retreat. If nothing much has changed, cancel the event. Pull out last year’s plan and perform some minor adjustments, showing your executives that there is a difference. But above all, make the decision early.

In the case of this particular pandemic, you probably may not have a choice. When multiple disruptions (e.g. health and economic) coincide, you must act differently. By design, move your leaders into a fresh zone of discomfort by putting them together in breakthrough planning sessions. Carefully arrange the activity so that a business-as-usual strategy becomes the most unlikely result.

This teaches your executives that all plans are not equal, and there are moments when a fresh initiative must be launched.

2. A technology refresh

Many executives prefer to have cozy, collegial retreats on the North Coast that resemble mini-vacations. However, important planning involves a series of difficult, high-stake conversations. They can be stressful, purposely throwing a spotlight on simmering disagreements.

When companies give in to the temptation to keep the peace, important decisions are just not made.

For example, many local firms still need to be convinced that the IT department should play a vital role in strategic planning. But this is understandable. Their ordinary IT employees may be preoccupied with issues such as laptop security. Big challenges like digital transformation remain out of reach. Consequently, it’s often difficult to incorporate IT, and doing so makes leaders uncomfortable.

However, today most agree that breakthrough strategic planning must include a view of technology. Unfortunately, it’s awkward to have digital transformation discussions at this level. Board and executive members are usually uninformed. But these vital discussions cannot be avoided.

In fact, the future will include more explorations of hard-to-understand technologies. Not less. And designing retreats to emphasize this reality has become mandatory. As such, your company must use long-term horizons of 10-30 years to take into account the full effect of new innovations.

This requirement frustrates many executives who find it painful to think in such terms. But planning for the distant future is essential in smashing the status quo with immediate actions.

If your organization doesn’t intend to produce a breakthrough plan at its next retreat, cancel it and modify your old one. Save your energy for when it’s really needed: a game-changing meeting of the minds that rethinks your company and industry. This activity could be the one that takes you into a new, unprecedented future.

Scheduling an Ordinary Strategic Planning Retreat? Cancel It.

Is your company preparing to conduct it’s customary annual retreat? You may want to scrap it and instead create a breakthrough event.

In the best of times, companies fall into a strategic planning rut. They follow the same routine each year, lulled into complacency by their accomplishments. The company’s leaders go through the motions, staying well within their comfort zones. Maybe this approach has worked for your company until now.

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe

A CEO’s dilemma: having a great idea for a new strategy

If you’re the leader of an organization, what should you do when you develop an exciting, fresh strategic direction for your company? Before you rush in, take caution – you could do more bad than good if you don’t proceed carefully.

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe

A CEO’s dilemma: having a great idea for a new strategy

If you’re the leader of an organization, what should you do when you develop an exciting, fresh strategic direction for your company? Before you rush in, take caution – you could do more bad than good if you don’t proceed carefully.

Imagine yourself as a CEO or MD, just returning from a two-day conference in New York. As you sit in the departure lounge, you’re filled with nervous energy. Three big ideas triggered by your exposure churn in your mind: your organization needs them to secure its survival in these trying times.

However, you also heard from a consultant who cautioned against implementing any new idea from the top down. If the implementation is complex, it’s easy for you to chase up the hill, only to realize that your troops aren’t behind you. How can you ensure that your business transforms in order to survive, while engaging staff at all levels along the way?

Would a town hall announcement do the trick?

The answer is usually “No.” As the leader, you must account for several gaps inherent in your leadership that could doom your effort. These must be accounted for in the way you roll out your ideas to ensure implementation.

Gap #1 – Your strategic thinking, versus that of others

Most CEO’s forget that while they are focusing on the company’s strategy 90% of the time, their direct staff is far less concerned. In my experience, the average leader wants managers who are short-term result-producers. As such, each manager spends no more than 10% of their time thinking about long-term strategy, triggered only by the advent of the annual retreat.

Therefore, managers develop strategic skills slowly, if at all. Consequently, many who are promoted to top positions end up floundering as they simply are not used to the long-term thinking needed to guide the enterprise.

This means that your bright, strategic idea might not be readily understood by your colleagues. While you came to these “sudden” insights based on your foreign exposure, it might take them much longer to arrive at the same conclusion. Therefore, you need to give them time to come up to speed, just to appreciate the nuances of your proposal. Don’t be impatient.

Gap #2 – Your executive’s engagement

While your top executives are used to managing their departments for quick results, they are probably not used to putting the hours into projects that have a long-term payoff. This can doom your strategy.

Most important strategic initiatives impact several departments at once. Also, the people who must implement them are usually far away from the CEO’s office. Therefore, top managers must have more than an abstract understanding; they need to show an emotional connection with the new project. That’s the only way to inspire those who need to set aside old behaviours and implement new ones.

Such executive bonds aren’t crafted via a town-hall speech, or by sending out messages on the importance of creating shareholder value. Instead, you must hold a commitment event – an occasion specifically intended to bring your top managers together in a public show of solidarity.

This usually takes place in a strategic planning retreat. By the time it concludes, each attendee has been asked to craft and engage with the new strategic plan. But it’s not a majority vote in which the losers are forced to sign up to something they don’t believe in.

Instead, there needs to be a sense that your three big ideas are self-evident: conclusions that any team of smart people would arrive at. As this happens, as the CEO, you must release any authorship of the original insights and allow others to build their own commitment, in their own words, for their own reasons.

Gap #3 – Their visible support

But this can’t be window dressing. Having everyone nod together is a start – the rubber hits the road when the plans hit the lower tiers of the organization. Now, leaders must engage staff so that they develop their own commitments as well, which cannot happen in an ordinary meeting.

The point of taking this circuitous route rather than just “issuing a directive” is that complex changes need the buy-in of many people who often don’t work together. The energy required to bring them to a single vision is considerable and doesn’t happen in an instant.

Don’t be fooled by those who offer instant assent. Instead, realize that success occurs only when staff members are applying private, discretionary time and effort.

This approach may not do much for the ego-driven CEO who is a magnet for credit and attention, but it’s the right one for the organization. In the long term, the best way to implement a new idea is through others.

Francis Wade is the author of Perfect Time-Based Productivity, a keynote speaker and a management consultant. To search prior columns on productivity, strategy, engagement and business processes, send email to columns@fwconsulting.com

New Reasons to Stop Competing

Much of the MBA-level teaching around strategy focuses on beating the competition. Has that line of thinking been rendered obsolete by the pandemic, to be replaced by a fresh focus elsewhere?

Harvard’s Michael E. Porter is well-known for his thought leadership on competitive strategy – finding ways to beat your company’s rivals. Lately, however, his theories deserve a rethink, especially now that the end of COVID’s rampage is in sight. Has his main thrust of focusing on your competitors become obsolete?

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe

Why you need an after-McKinsey retreat

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If your company is using an outside strategy consulting firm like McKinsey, what is the best step to take after they leave? If their expensive advice is so useful, why might you still require another planning meeting?

Many of the most successful companies around the world avail themselves of the research services provided by firms such as McKinsey & Co, Bain & Company and Boston Consulting Group (BCG). Their formula is often the same: a prospective client presents them with a difficult problem. To find solutions, they assemble a team of young, bright MBA’s who tackle the issue in an intense three to four-month sprint. Working long nights and weekends, they delve into their database of past projects and proprietary data, relying on the stellar advice of their global network of experts.

Compared to the internal resources of the typical client, they have an unmatched ability to bring a firehose of assistance to a threatening blaze.

However, don’t believe for a second that they are providing a complete solution to your troubles. Instead, their final presentation is actually just the start. Here’s why.

#1 – They Solve Narrow Problems

An outside expert isn’t geared to tackle a wide range of your company’s complex issues. They agree to focus on a sharp, well-defined scope: a tight problem definition that is clear to both sides. Given their brief tenure, they define problems that can actually be solved in a short timeframe.

Initially, it may seem strange to you, their client. The consultants appear to be trying to do less, actively resisting the temptation to do more. This sometimes lead to tensions. Some look at the huge price-tag (US$1-2 million) and believe that at that level, every issue should be resolved by their high-powered team.

But that’s not how it works, with good reason.

As expert problem-solvers, they operate a bit like surgeons. Within their narrow specialty, they are called into crisis situations to tackle your organization’s issues no-one else can. They represent an immediate investment of time and money to carry out a critical intervention. As such, it’s unprofitable and unwise for them to “boil the ocean”. Their value lies in their ability to go deep very quickly, not to understand a great deal of complexity.

That’s why, when their job is done, they need to walk away. They should never usurp the responsibility for the long-term health of the company. That should remain the primary job of you, the client. Likewise, the implementation of their recommendations should not be in their role.

#2 – Their Solutions Have an Expiry Date

An outside consultant’s advice might be the best possible answer to a given problem…right up until the date their intervention ends. After that, all bets are off.

Case in point: if COVID-19 has taught us anything, it’s the fact that dramatic disruptions do take place. Imagine if, after receiving a consultants’ report, a pandemic were to break out. The unfortunate timing could render the contents meaningless.

This is why it’s critical for clients to act on specific advice immediately, never allowing it to languish. Does this mean that they should rush to implement the suggestions without question?

#3 – Outside Experts Aren’t Your Company’s Primary Strategists

Ultimately, the fact is that consultants can’t understand the entirety of your business in just a few months. This means they shouldn’t become your organization’s chief strategists. That job remains in the executive team, led by the CEO.

Whether their recommendations confirm, deny or augment prior wisdom, your senior managers should consciously incorporate them into their thinking. But there’s a caveat. Not every recommendation they made is worth pursuing. Why? They simply cannot take into account all the factors necessary to lead your business into the future.

As such, the chances of their report being completely correct are low, especially in the areas in which they tend to be weak: cultural differences, human resources and change management. While their technical analysis might be on point, it won’t be perfect.

Turning their findings into something valuable requires some hard, additional work, regardless of the price-tag paid. Your team’s combined wisdom is needed to treat the expert advice as only a single input among many: an element of the organization’s strategic management, but never a replacement.

The final decisions remain in the hands of your executives. They must now plan a complete strategy, short and long term, that builds on the report. The first post-McKinsey meeting is therefore just the start of a new planning cycle, albeit one that has the advantage of some fresh insights.

This article was originally published in the Jamaica Gleaner.

Why You Need an After-McKinsey Retreat

If your company is using an outside strategy consulting firm like McKinsey, what is the best step to take after they leave? If their expensive advice is so useful, why might you still require another planning meeting?

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe

How to Say No and Become More Productive

Is there a way to turn down requests from other people and thereby increase your productivity? In the changing world we live in, you may have to say more No’s.

“If you want to get something done, ask a busy person.” This old saying has an element of truth: there are certain people who are able to manage scores or hundreds of tasks at a time, without a single one falling through the cracks. If they agree to add your task to their list, consider yourself privileged: there’s a high chance it will be done with quality.

However, experience suggests that the quote should be changed slightly to add a coda: “…but they are likely to say ‘No’.” The fact is that these busy people are black and white with their Yes’s and also their No’s. In order to reliably deliver, they must say “No” to many requests. Even worse, as their reputation grows, they turn down far more tasks than they accept.

As such, their calendar might be full. But what is it full of? Carefully curated tasks which they juggle with precision. They have balanced all the demands in their life and chosen the right blend of commitments. How are they able to pull off this trick?

1. Manage Tasks Using a List or Calendar

As you imagine, they don’t use memory to manage their tasks: there are too many. Instead, they have a system set up using lists and/or a calendar. They treat their tasks with importance and their time as a limited and precious resource. When someone asks them to complete a task, they don’t accept right away…they pause.

Their pregnant pause is not meant to be rude, but to consider, as a serious professional, what they should commit themselves to. Which prior commitments should be denied or postponed?

It’s a bit like visiting the doctor. Your medical practitioner doesn’t just tell you which medication to take based on your (supposed) list of symptoms. Instead, he/she performs a trained diagnosis. Their professional code of ethics guides them.

If there were such a code for the rest of us, it could be: “I don’t dispense time without careful consideration of all my commitments”. With a boss, for example, you may include the requestor in the decision, while showing him/her your calendar: “What should I put aside in order to complete this new task?”

This code-driven pause separates the novices from the practiced professionals.

2. Build Relationships

However, most of us are afraid to say “No” because we are taught, as children, to be nice or good, giving away our power to adults. We still fear the supposed fallout.

I have worked with top executives who routinely tell their ill-tempered bosses fake “Yes’s”. The result? Chaos. Eventually, the boss adapts by asking several people to do the exact same task.

To get past the fear at the root of the problem, author William Ury suggests the following approach to decline requests from anyone.

Step 1 – concretely describe your interests and values, while being as positive as possible

Step 2 – explicitly connect your “No” to your values/interests

Step 3 – explore other options to satisfy the request

For example: “This year I have committed to living a balanced life and making sure my son passes his GSAT’s. Tonight is set aside to help him, so I can’t be at your Zoom call. How about another night this week?”

For those who are productive, either a “Yes” or a “No” can build relationships. However, it takes skill to bring this off in real-time, under pressure from someone who is in power.

A long-term commitment to deliver better quality “No’s” only leads to more skill in this area.

3. Disavow Lesser Channels

In today’s remote environment, we receive requests via a number of channels. How do we respond effectively via text, video or audio when face-to-face communication is impossible?

The answer is to use the most interactive medium possible. If it means a video-chat or phone call, take the time needed. More interactive channels allow the opportunity to react in real-time.

However, if you must use text (the least preferred option), follow Ury’s formula. Do so and you’ll not only be protecting your calendar, but showing the respect that demonstrates your professionalism.

When they return to you with a future request, they’ll remember: you don’t play around with your commitments and you take care of people who approach you for help.

Francis Wade is the author of Perfect Time-Based Productivity, a keynote speaker and a management consultant. To search prior columns on productivity, strategy, engagement and business processes, send email to columns@fwconsulting.com

How to Say No and Become More Productive

Is there a way to turn down requests from other people and thereby increase your productivity? In the changing world we live in, you may have to say more No’s.

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit longtermstrategy.substack.com/subscribe

Secrets of Task Management

How can you manage your tasks in a way that allows you to escape overwhelm? There are certain invisible principles you need to use to stay on top of an expanding workload. When known, they dramatically change your career for the better.

However, no-one teaches us the importance of managing our tasks skillfully. It’s usually discovered in the breach: when life isn’t working the way we want and we scramble for answers. Instead, most live on auto-pilot, never questioning why they do things the way they do. Let’s make some of these secrets conscious.

Secret 1 – Tasks Come from the Inside

What is a task? In its purest form, it belongs to a class of “psychological objects” that can’t be touched or seen, but still have an emotional weight. That’s because they come from within: each one is born when you quietly assign yourself an action to be completed in the future.

This is a self-taught practice. Around the age of seven, someone teaches you how to tell time. You realize it’s a great resource and start to create tasks which can only be executed later.

At first, all this takes place in your mind. Before long, you have developed a daily habit of creating mental commitments, even though the initial number of tasks is small. After all, that’s what a child’s parents and teachers are for: to remind them what they need to do.

But as you enter adolescence and adulthood, things change.

Secret 2 – Only Kids Should Be Using Memory

If you have ever worked with a full adult who regularly fails to do the tasks they intend, you may agree that they have a “bad memory”. This is probably true.

But it obscures a bigger problem: they are using the memory-based techniques of a child, rather than the grown-up methods of an adult. Here’s why so many get stuck.

As I mentioned, you are a self-taught task manager. However, as you grew out of your teenage years, the number of tasks increased, but your approach remained the same: to habitually use your memory.

Before long, you started to experience problems. Overwhelm crept in as you struggled to prevent promises from being broken and appointments from being missed. The harder you tried to remember, the worse things became.

Perhaps you got lucky and a parent or friend intervened, or maybe you figured out the changes you needed to make on your own. Instead of relying on memory, you began to write down all your tasks on paper or a smartphone. In either case, you stopped trying to use a Band Aid to heal an amputation, and switched your approach for the better.

The fact is, most adults have lives which are too complex to be using their memories for task management. However, most of us still complain about having a poor memory for our tasks, long after we should have given up that method.

Pro Tip: you can evaluate the capacity of a teammate by observing his/her reliance on memory for important tasks.

Secret 3 – Migrating to Better Tools

Most professionals understand the need to switch from memory to the use of written commitments (or even the employment of an administrative assistant). However, they don’t realize that this should be the first of many transformations. Research shows that your appetite to manage more tasks is insatiable: successful solutions lead to greater task loads.

These volume increases inevitably make you hit new limits. Consequently, whenever you experience symptoms of overwhelm and other task management problems, you should analyze your current combination of tools and behaviors. They must be upgraded to keep up with an increased number of tasks.

Unfortunately, this is simpler than it sounds. For example, you might recall the age when you shifted to writing down your tasks on an aid like Post-It notes. Since then, you moved on to using digital tools, but let’s imagine that you recently started noticing that familiar feeling of falling behind.

You may be tempted to believe that a return to Post-It notes would help, but here’s the surprise: it won’t. That approach was useful at a lower task volume, but cannot fit your adult life.

Now, you must perform a fresh analysis of your entire self-taught system. Look for small changes to make which together can give you brand new, added capacity. Do the research and experiment with different suggestions and technologies before settling on an upgraded approach.

But the best benefit is that now you’ll know that whenever you feel overwhelmed, the answer is never to revert to what worked for you in the past. Instead, you must go forward to adopt behaviors which are suitable for a future of even more tasks, and less overwhelm.