Level Up!: Low Hanging Fruit to Instantly Improve Your Small Business by Iliana Rocha

Author:Iliana Rocha [Rocha, Iliana]
Language: eng
Format: epub, azw3
Published: 2020-09-13T22:00:00+00:00

The operating plan (AKA the implementation plan)

Operationalizing your strategy is just another way of stating how you will implement it. THIS is where the meat of strategic planning is, despite common misconceptions. Just about anyone can come up with a decent strategy, but if it is not realistic, or you don’t have the capabilities and resources to implement it, then it’s just words on paper! Ideally, you should have an operating plan for your 3-year strategic plan, with greater detail for year 1, and less detail for the following years. Typically, your year 1 is a monthly view, with a quarterly view for the following years. My recommendation is to always keep a 12-month rolling view of any plan, whether that is operational or financial. What that means is that as one month passes, you plan out the 12th month (that is, bring it down form a high to a lower level of detail). That way you always have 12 months’ worth of detail to work with. This becomes especially important in financial planning and management, but I strongly encourage it for operations as well.

Start with your strategic themes and the high-level view of what falls under each. You now have to get more granular as to what initiatives are required in order to deliver on those strategic items, and what the sequence and timing should be. Hint: your highest value initiatives should be first on your roadmap, unless they are dependent on something which delays the start of their execution.

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