These two days at a resort, hotel or private club produce yet another version of Mission, Values, Vision, Goals and Objectives, which seem to be an annual necessity. The myth is if the right words are in the right order and shared with your team, partners and market, you will dominate like no one since Apple – if you just get the words right.
Domination requires lots of profitable revenue so you set a revenue goal that will fulfill your budget requirements and investor expectations. With this budget in place you start making work assignments to sales, marketing, manufacturing, and so on by wrapping those budget goals with those great words about Mission, Values, Vision, Goals and Objectives that you crafted at the offsite.
Now it is one year later, and it is again time for the required annual offsite. You will do yet another version of Mission, Values, Vision, Goals and Objectives, once again hoping for all the right words, in the right order, etc.
To prepare for this offsite, you look back at the past year and can seldom even remember last year’s words, let alone the right order or the degree of passion you must have felt when you created them. Some of those attending the offsite quietly ask themselves if all these smart people working on this have any impact, and if so, is the impact positive or negative – after all how do the required annual versions of Mission, Values, Vision, Goals and Objectives collecting dust on the third shelf create positive results?
The budget numbers from this effort also create problems. You either under budget, over budget, have the wrong forecast, over build a product no one wants or miss a great opportunity by being late to the market. The inaccurate budgets from these two days frustrate everyone, and as a result, you lose some good people and a lot of energy.
What if the Mission, Values, Vision, Goals and Objectives were not left on that third shelf, and you didn’t pretend that these five words were magic, but used them as direction, guides and the beliefs that drive every decision, action and person connected with your company?
Then what if you supported these words throughout the organization with strategies and plans aligned to your Mission, Values, Vision, Goals and Objectives?
What if the last thing at the offsite was the development of a “Revenue Strategy” that was in alignment with those five words and answered the following five questions?
That would be the first step of aligned and metriced deployment for making Mission, Values, Vision, Goals and Objectives real.
The five questions are:
- What is your brand promise?
- What’s the customer “problem” that you solve for the customer that NO ONE else solves?
- What niche/s do or will you dominate?
- Who is your ideal customer – the person that has the problem you solve that NO ONE else solves?
- Which are your key offers that will lead to the domination of those niches?
Question 1: “What is your brand promise” is the result of knowing what your Mission, Values, Vision, Goals and Objectives are and exactly how you will deliver them to your customers, partners and staff “EVERY TIME!”
The other 4 questions take the intent from your Mission, Values, Vision, Goals and Objectives and make that intent actionable, measurable, teachable, scalable and real to your staff, partners and the buyers.
Which Comes First?
Mission, Values, Vision, Goals and Objectives come first so the Revenue Strategy and Plan can be aligned and deployed in the real world based on their direction.
The Revenue Strategy is next. The Revenue Strategy is the first of the operational groups’ strategies. The operational groups (operations, HR, finance, etc.) have one purpose – “align their efforts to attain predictable profitable revenue.”
They are not the same. Mission, Values, Vision, Goals and Objectives are about “WHY” you are in business, and the Revenue Strategy is “HOW” you will realize your noble mission.
You need both, and once you have both, you will be on the path to being the company you always wanted to be – so go plan that annual offsite and finish the two days with the start of your Revenue Strategy.