Editor’s Note: This post was originally published on Seattle 2.0, and imported to GeekWire as part of our acquisition of Seattle 2.0 and its archival content. For more background, see this post.
By Andy Sack
Planning is one of those things that everyone knows they should do — and few people actually take the time and really do it. I’m encouraging all the companies I’m involved in to take time and develop a 2010 operating plan. A good annual operating plan can really bring an entire compnay together and get everyone pulling in the same directino for at least the first 6 onths of the year.
The planning process takes market research, contemplation and communication. I’d recommend the following process:
- Research: One person or a small team should take the lead on collecting relevant market research, getting employee inputs on important issues, reviewing the 2009 annual plan and producing a SWOT (strengths, weaknesses, opportunities, and threats) analysis. This all gets compiled into a powerpoint deck.
- Contemplation: Usually comes in the form of a first meeting with executives that reveiw the powerpoint deck. I think it’s useful to also send this deck out to advisor and get input from outside the company. Also, annual plans — or more specifically, strategic decision are best done over a couple weeks. You need time to gestate, ponder, sit with it. If you can — take a half day retreat with folks to discuss the plan. Serve good food at the retreat. It helps the conversation. The direction of a company usually involves business and emotional factors — and they’re both really important.
- After things have settled, and you know that no plan is the “right” plan — Set a course and communicate the plan back to all the stake holders and participants in writing and verbally.
This takes time and work — and I’ve found it incredibly valuable — if you haven’t started, you still have time to get this done before the new year!
