Most business owners think of strategic planning as an annual event. If your business is growing at a rate of 15% or less per year this would be an accurate assessment. However, if your business is growing between 20% and 100% per year, it’s time to readjust your thinking. Companies with growth rates in this range need to be planning, and re-evaluating their strategy every 90 days. A quarter takes on the significance of a year.

Studies show that leadership teams spend approximately 80% of their time focused on operational issues, which typically account for less than 20% of a company’s long term value.  Unless operations are aligned with your strategy, you will be wasting valuable time and money and will not be building long-term value in your company.

The most successful companies develop a process that can help gain clarity and focus while aligning the organization around vision and strategy.  The basic premise shifts executive team focus from operational issues to strategic priorities and decision making.

Here’s how the process might look:

1.  Develop a strategic plan with three year, one year and 90-day priorities.

2.  Communicate the plan throughout the organization.

3.  Utilize a meeting framework to drive results, define accountabilities for the week, month, quarter and year.

4.  Accomplish 3 to 5 priorities every 90 days. Set new priorities for the next 90 days. Expect results.

5.  Identify and measure (at least weekly) your top 3 to 5 business drivers.

6.  Align company from top to bottom around strategy. Make sure your human systems such as recruiting, interviewing, hiring, managing, and rewarding align with your strategy.

7.  Develop leaders within your company by utilizing real business problems that arise in executing strategy as team building opportunities.

It is a proven fact that companies that focus on strategy generate significantly higher financial results and higher rates of growth than their competitors.