Kristin Luck
As we close out the first month of Q4, it's the ideal time to start thinking about your strategic planning—not the plan itself just yet, but the plan for developing your plan. Why now? This window gives you ample time to reflect on the current year, assess what worked (ideally based on actual data!), and pivot where necessary, all while laying a robust foundation for a more focused approach in 2025.
Why Plan the Planning Process?
All too often, companies invest significant time and energy into developing a strategic plan, only for it to be forgotten by mid-year. Many leaders even abandon the plan entirely after the initial rollout. But why does this happen?
In my experience, most plans fail to deliver on their potential because of key pitfalls:
Overemphasis on Metrics Without Strategy: Companies frequently prioritize defining OKRs (Objectives and Key Results) or KPIs (Key Performance Indicators) without first ensuring there is a robust strategy that supports these metrics. When this happens, you're left with a set of numbers to hit, but no clear roadmap on how to get there.
Confusion Around Terminology: Many organizations blur the lines between strategy, objectives, and actions. The result? Teams execute tasks, but these actions are not always aligned with a coherent strategy that addresses the company’s long-term vision and growth.
Exclusion of Middle Management: Executives might lead the planning process, but middle managers—the people most connected to the functional, day-to-day operations—are often left out. Even when included, they sometimes struggle to shift their focus from operational details to strategic goals that align with the organization’s broader mission and value to stakeholders.
Failure to Review and Adapt: Planning shouldn't be a one-time activity; it must be an ongoing process. If strategic objectives and the activities supporting them aren't revisited quarterly, projects may drift off course, and opportunities for improvement can be missed.
Why November?
November strikes a balance between reflection and preparation. You still have time to assess the data and outcomes from the current year while simultaneously giving yourself the space to plan effectively for the upcoming year. Starting now also allows you to include more stakeholders in the process and ensure there is time for meaningful discussions, iterations, and alignment across teams before the year-end rush hits.
Strategic planning is a journey, not a project. It shouldn't be limited to a one-time event, like an executive offsite or a weekend retreat. Instead, these activities should be viewed as the kickoff point for a deeply integrated process that involves ongoing evaluation, recalibration, and reinforcement of strategies throughout the year.
Creating an Impactful Plan
To create a truly impactful strategic plan, the process itself must be carefully structured. Here are a few tips to ensure your plan isn’t just another document gathering dust on a shelf:
Focus on Systems, Not Just Goals: As Graham Kenny suggests in his Harvard Business Review article, effective strategic planning starts with system design. Instead of just setting lofty goals, ensure you’re designing systems and processes that empower your organization to achieve those goals consistently.
Involve the Right People: While it's tempting to keep planning discussions at the executive level, involving managers and other key stakeholders from different functions will give your strategy more depth and practicality. Their insights into daily operations will help create a plan that is not only aspirational but also actionable.
Plan to Iterate: Build companywide quarterly review meetings into your calendar. These sessions give you an opportunity to revisit the plan, assess whether strategic objectives are being met, and make necessary adjustments. This iterative process ensures that your strategy remains relevant and responsive to changing market conditions and organizational needs.
By starting your strategic planning process NOW, you give your organization the breathing room to conduct a thoughtful, inclusive, and iterative approach. This way, you're not scrambling in December or January to put something in place and can instead hit the ground running in 2025 with a strategy that's aligned, clear, and impactful. Need help getting started? Reach out to us!