Do Your Goals Align With Your Vision?

When I think of the challenges most companies face in aligning their organizational goals with the vision for the company, I'm reminded of this quote by Isaac Asimov:

"Life is pleasant. Death is peaceful. It's the transition that's troublesome."

Our mastermind group has been focused on The Visioning Process for the past month or so, and the members have completed weekly exercises to help them re-define the Vision Statement and Mission Statement for their respective companies. As the group has come to experience, it's hard work to go through the process when taking into account the past, present and future in order to find a better pathway to success.

Getting to where you want to go, from where you are today, is the ultimate challenge for most businesses, and it is this transition that's the most troublesome. For most, it requires moving away from old habits and traditional thinking to ensure that you have the proper goals alignment with your vision. Here are some suggestions to help you work through the process:

1. Start where you hope to finish. Schedule a brainstorming session with your team; capture all of the "wild ideas" that surface from the session, and discard those things that don't work anymore. This will help you move through the process from Visualization to Actualization to Realization, and on to a list of concrete recommendations you can build upon.
2. Create S.M.A.R.T. goals and objectives. From your short list of actionable recommendations, create goals and objectives that are Specific, Measurable, Achievable, Relevant and Time bound.
3. Take the time to do it right. Develop horizon plans and goals that encompass the upcoming plan year, 1 to 3 year, 3 to 5 year, and 5 to 10 year outlooks to enable you to reach your vision.
4. Involve everybody in the goal setting process. It is critical to obtain "buy-in" from all internal stakeholders, so get them involved upfront in the goal setting process.
5. Keep your vision and goals in front of you and the team. Your vision and goals should be an integral part of your company's DNA. So post them everywhere and review them monthly so they stay fresh.

Finally, make sure to link the company's objectives and individual performance plans to the goals. This helps to ensure that the proper alignment of your goals with your vision becomes a self-fulfilling prophecy through your daily work related activities and the activities of your team members.

COPYRIGHT © 2010 John Carroll

Sales & Marketing Plan Check-up Time

Much the same as your car or home, you should also schedule periodic check-ups of your sales and marketing plans to ensure that you are receiving optimal performance and results.

These check-ups should be done on a monthly, quarterly and annual basis as an integral part of the ongoing planning process. Regularly scheduled plan reviews will enable you to capitalize on emerging market trends, and make necessary course corrections to minimize potential shortfalls.

At a minimum, the areas that are listed below should be audited as a part of your sales and marketing plan check-ups to determine your company's sales and marketing effectiveness.

1. Sales Metrics. Review the number of first calls, customer visits, proposals, closed sales, customer adds, and revenue.
   
2. Sales Productivity. Determine the total revenue amount per individual sales headcount in each period vs. plan. 
3. Sales Pipeline. Evaluate the total number of projects in the pipeline, dollar value of the pipeline, % of total per funnel phase, average days to closed sale, and average sale value.
   
4. Lead Conversions. Identify the "hit rate" by calculating the ratio of new sales to leads from all sources.
   
5. Marketing ROI. Calculate the revenue to expense ratios for all marketing activities to determine where you are receiving the greatest return from your marketing expenditures.
   
6. Budget. Are you meeting your sales and marketing targets in all areas - i.e. sales, revenue, customer adds, expenses, etc.?
7. Execution. Are you delivering new products, promotions, projects, collaterals, etc. on-time? On-time delivery is a must for you to reach your sales and revenue goals.

The data you compile from the sales and marketing plan check-ups will provide you with the insight needed to develop future business plans that are consistent with prevailing market trends and the historical performance of your business.

So, if you do not have a similar sales and marketing review process in place today, make it a priority. These check-ups will enable you and your team to stay on-track with the projected business plan outlook, while receiving optimal performance and results from your sales and marketing investments.


COPYRIGHT © 2010 John Carroll