Strategy 4 Saturday (<4 minute read)
- 40 Strategy Planning
- Clarifying Our Vision
- Strategic Destinations
- Webinar: Create Your Business Vision with ChatGPT (Oct 19th, 10am PT)
- Measure Success Podcast | Brad Giles
- Coming up this week | Award-winning Author & Strategist | Jim Britt
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Pictured above: Hosting a strategic facilitation this past week with a client at McMenamins Edgefield in Troutdale, Oregon.
40 Strategy Planning
This past week, we started our strategic planning process for 2024. The catalyst was threefold:
#1 – Clarifying our Vision
#2 – Set One Year and Three Year Goals
#3 – Too many “entrepreneurial”
Clarifying our Vision
The first part of the CAPTAIN strategy process is Compass. We believe it is critical to have a clear long-term vision that will direct the activities of your organization.
We are currently in Year 4 of our original 10-Year Vision. The 10-Year Vision was to positively impact 1,000,000 people, 10,000 organizations, and 100 organizations directly. We also created the goal to give $1 million to charity.
(In a future blog, we will disclose our tracking towards these goals.)
In this process, we have redefined our 10-Year Vision (end of 2030), and clarified our key goals for the next 3 years (2026) and 1 year (2024).
Our new 2030 vision statement (in draft mode):
“40 Strategy has directly helped 100 businesses grow to their potential, enabling our company to donate $1 million to charitable organizations.”
This is definitely in draft mode, and I am considering adding how much of a measurable impact supporting our clients.
Strategic Destinations (goals)
The A is to Aspire. We believe in creating stretch goals which require you to change your habits to meet those goals.
10-Year Goals should have a 51% chance of success
3-Year Goals should have a 70% chance of success
1-Year Goals should have a 90% chance of success
2026:
World-class business experience for clients.
3x revenue and charitable contributions from 2023.
Generate 33% of revenue as passive income.
Optimize operating model (define), (business to operate without me for 40 days)
2024:
Define and create a world-class business experience for clients.
2x revenue and charitable contributions from 2022.
Create 15% of revenue as passive income.
Streamline operating model. (define)
Next week, we are focusing on how to narrow down on the most important strategic priorities. We have received so many opportunities from clients, partners, book, podcast, blog, LinkedIn, etc., we need to decide on the few that will have the biggest impact on the outcome. We will tackle that discussion next week.
Speaking of tackling…most of our posts are written on a Saturday morning at a café somewhere around the US. This had to be written in advance because my alma mater, the #7 University of Washington Huskies, will be hosting the #8 team from down south in a football rivalry game, featured on ESPN College Game Day. Several of us plan to make a road trip. Go Huskies!
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