After comparing several different options, the Gerber FCU Board of Directors chose ADVISA to lead their most recent strategic planning session. This was their third session during the past 10 years. While they knew that the time commitment and brainwork they devoted to defining dreams, analyzing threats and setting goals were important investments, they were surprised by the ongoing guidance for day-to-day activities the plan provides.
“I have been involved in probably 10-12 strategic planning sessions throughout my 35 years in business,” said Greg Zerlaut, Chairman of the Gerber Federal Credit Union Board of Directors. “This is the first time a strategic planning document has become a focal point that drives operations.”
“The marvelous tool is the Scorecard,” Greg said. “We have five major goals that are broken down into interim progress milestones. This has become the guts and core of our board discussions each month. It has evolved as a living document, as we have edited it several times for emerging issues.”
How well does is your strategic plan drive implementation and achievement of goals? You can learn more about our specialized approach to organizational planning on this webpage, or reach out to us here.
Successful entrepreneurs work for years to build their businesses to achieve revenues and profits and to become a reflection of all of their hard work. It’s a shame when they get to the point of late-middle age and find that the business that they’ve built isn’t sustainable without them and wonder if they still like doing what they’re doing. If they have no children in the business or clear successors to their reign, the value that they’d hoped to achieve from transitioning the business can be a chimera. This is the point at which some sort of family business planning or small business strategic planning becomes essential.
In many ways, building a business is like raising a child. It’s in the entrepreneurs interest to prepare it for life on its own – without the comforting direction of the owner / developer. That’s a very hard thing for many owners to do. After all, it’s been their life to create the business that is so intertwined with their own life. And, owners can, like parents, hover over their children making decisions that preclude their businesses from growing up and being able to function on their own.
What to do if you’re in this place?
First, you must come to grips with what you want out of the business and the rest of your life – to make the equivalent of a personal strategic plan. Once a clear picture is formulated in your own mind of how you want to interact with the business and live your life – in work commitment, financial rewards, involvement – it’s time to work through a successful strategic planning mechanism for the business.
Waking up in late middle age wondering what one is going to do with one’s life and one’s business isn’t a very good place to be. Building the business was just too much work to face that. But, if that’s where you find yourself, you should give me a call. You need help I can provide.