Red Letter Advisory focuses on a strategic planning process as part of a larger ongoing management structure.  The goal of every strategic plan is to develop a clear strategy, create an action plan to execute on that strategy and implement a management structure that incorporates accountability.

That action plan, with clear objectives and specific deliverables, are evaluated quarterly against actual performance and are updated with new or revised deliverables. This quarterly rhythm gives the management team plenty of autonomy, but also allows the president, owner or shareholder a level of clarity and accountability across the organization. This level of discipline and accountability is essential to allow closely held companies to thrive.

Step One – The Strategic Plan

The strategic plan will begin with an in depth two day round table and include key members of the management team. This intentional time will be used to gain perspective on where the company is today, establish a clear goal and implement an action plan to execute with the accountability of a group.

• Define where you are today
  • Work through simple tools to gain perspective where the business is today.
    • Perform a current SWOT Analysis
    • Customer Definition
    • Internal & External Trends
    • Product Life Cycle Analysis
    • Opportunity Cost
    • Ease of Doing Business (EDB)
• Define your mission and establish where you want to be in one, three or five years
  • Together as a management team detail the specifics of what success looks like
    • Culture
    • Customer Satisfaction/Loyalty
    • Sales
    • Margin
    • Product Diversification
    • Product Development
  • What will help you achieve these goals?
  • What is going to hold you back?
• Execution
  • Define how are we going to get to where we want to go. Action required!
    • Set clear objectives with deliverables by teams with team leaders and dates.

Step Two – Accountability

• After the initial action plan is established, it is important to hold the team accountable.  A customized management structure using the strategic plan as a foundation will be developed to ensure the team executes on the plan. Execution and accountability to a clear goal are what truly separate one business from another.

Benefits

• • Disciplined/methodical approach to management without losing sight of the bigger picture.
  • A strong emphasis on strategic and creative thought.
  • Team alignment
  • Input allows team members to exercise their gifts and feel heard and as a result are much more fulfilled in their position.
  • Team members not only get to hear and see the vision of the President, but are able to see the specific path to executing on that vision. This provides clarity and allows everyone the ability to prioritize initiatives.
  • Peer accountability