Stage 5 Company (58-95 employees)
Planning is a critical aspect of any business’s success. But planning for planning sake will not a company make. You have to be able to identify the key decisions that must be made — and know when to make them.
Think in terms of kicking the planning process forward from a proactive stance and utilize these rules for Stage 5 companies (58-95 employees) to help give you a foundation. Your goal – plan with purpose.
Stage 5 Rules of the Road:
Rule #1: Overhaul the business model. Challenge all assumptions regarding vision, mission, goals, objectives and strategies of the company. Challenge all assumptions about the customer, the competition, the market and your company’s offerings. Reorganize/rewire the company’s resources to meet the new business design conclusions.
Rule #2: Integrate the management team into an inter-dependent, executive-focused leadership unit. Research and design a comprehensive leadership team decision making process. Facilitate the leadership team’s comprehensive understanding of the company’s detailed flash sheet. Unify the team by co-authoring a team mission and five clear leadership team goals.
Rule #3: Establish a one year operational business plan. Have your leadership team author the company’s strategies and initiatives. Have each leader provide operational input from their area of responsibility. Organize and integrate a tactical plan with the implementation of the company’s budget.
Rule #4: Establish a fully integrated living budget by revenue group and by department. Develop a comprehensive budget template by revenue group and department. Drive the budget process by the one-year business plan process. Review budget assumptions and actual results at every monthly leadership team meeting.
Rule #5: Allocate three percent of staff compensation for staff training. Organize annual purpose and objectives of employee training to fit the needs of the company’s business plan. Communicate staff training opportunities to the entire employee community. Establish staff training as part of the employee performance score card.
This article, derived from content created by FlashPoint!, is based on the 7 Stages of Growth concepts developed by the Origin Institute and James Fischer. It was contributed by Jacqueline Sousa, a certified Growth Curve Specialist and regional director of the Florida SBDC at FIU