Rockefeller Taught Me About Strategic Planning | LAYC 95
Isabel Alexander continues the mini-series on strategic planning, spotlighting fundamental elements crucial for SMEs and solopreneurs.
1. Foundational Core Values:
- Your business's cornerstone lies in its core values.
- Aligning decisions with personal values ensures ease and confidence.
- Imperative for fostering loyalty in teams, attracting clients, and selecting dedicated suppliers.
2. Significance of Purpose and Mission:
- Crafting a purposeful mission and vision is paramount.
- Values are the driving force behind the 'Why' and 'Who' of your business.
- Ignite inspiration in teams, partners, customers, and suppliers by aligning actions with values.
3. BHAGs Unveiled (Big, Hairy, Audacious Goals):
- BHAGs are audacious, visionary goals deeply rooted in core values.
- Long-term aspirations that both challenge and inspire.
- Vital for constructing a strategic plan encompassing short-term, mid-term, and long-range goals.
4. Actionable Reflections:
- Reflect on core values and their pervasive impact on the organization.
- Develop a purposeful mission and vision intricately aligned with values.
- Embrace BHAGs to set in motion visionary and exhilarating long-term goals.
About the Host:
Isabel Alexander
Your Next Business Strategist and Transformation Catalyst
Dynamic, a self-made entrepreneur who overcame obstacles with an unrelenting positive nature, a farm girl work ethic, and a conscious choice to thrive rather than survive, Isabel Alexander cultivated an award-winning, $10+ million global chemical business and grew it from dining room table to international boardrooms.
Isabel’s strengths include the ability to initiate and nurture strategic relationships, a love of lifelong learning and talents for helping others maximize their potential. An inspiring speaker within both industry and community, she is a driving force behind those with the courage to follow her example of thriving against the odds.
With 50+ years of business experience across diverse industries, Isabel is respected as an advisor, a coach, a mentor, and a role model. She believes in sharing collective wisdom and empowering others to economic independence.
Founder:
Lift As You Climb Movement (www.facebook.com/groups/liftasyouclimbmovement)
and
Chief Encore Officer, The Encore Catalyst (www.theencorecatalyst.com) – an accelerator for feminine wisdom, influence, and impact.
also
Author & Speaker ‘Who Am I Now? – Feminine Wisdom Unmasked Uncensored’ (www.IsabelBanerjee.com)
LinkedIn: www.linkedin.com/in/isabelalexanderbanerjee/
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Hello, and welcome back.
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I'm Isabel Alexander, and as I promised, I am here to continue this mini
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series about strategic planning and why it's vital to SMEs, small, medium
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sized businesses, and solopreneurs.
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In fact, it's vital to every organization that wants to be sustainable.
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that wants to grow and continue to have value to its clients, its stakeholders.
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The Encore Catalyst makes it possible to share this podcast with you
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and hopefully share some value to help you get more of everything
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that you want from your business.
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So the first episode on this theme of strategic planning, I
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shared my feelings around why it is so vital for small businesses.
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entrepreneurs to have a strategic plan.
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So, if you didn't get that, circle back.
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It's just not too far back in the history here.
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Shortly afterwards, I shared that I'd heard from my audience, my clients,
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said, "You were pretty passionate about that, that we should have a strategic
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plan, but you didn't really tell us how."
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which brought me to saying, I promise that I will, and the why I know this is
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important was my journey, my discovery of reaching a point in my own company
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where I had reached the level of my own experience, capability, confidence,
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hiring an expensive business consultant.
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The most important thing I learned from him was about a book called
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Mastering the Rockefeller Habits that was written by Verne Harnish and it's
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still a top selling business book.
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I recommend that you buy the book and you keep it as a treasured
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resource on your bookshelf.
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But if you're not ready to add reading yet another business book to your list,
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then I'm going to give you a little deeper dive than Cole's notes, but I'm
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going to give you the highlights of why that book and the process that I learned
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using that book was so valuable to me and also explain some of my own personal
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circumstances that evolved from that.
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So today.
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In the third of the series on strategic planning, I want to talk to you, briefly
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about core values, which is a foundational piece in creating a strategic plan,
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which is surprising, I know, because it sounds like it's kind of woo woo,
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soft, touchy, pinky, furry stuff, but it's not, I promise you, it's Fucking
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important ironclad stuff that you need to know about, need to think about.
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I'm going to talk to you about the next step that we go through in that process,
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and that's really getting clarity around your purpose and your mission.
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And it's not going to be the same old Ya-Ya-Ya platitudes that you hear
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about your purpose or your mission.
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I promise, stay tuned.
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And the third thing that we will address just high level today is beehags.
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And I'll talk to you about why you need to have that, even if
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you don't think you want to.
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All right, so let's roll with this!
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First and foremost, before you can make any meaningful plan for your business,
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you must embrace the fact that your business was built on your core values.
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And if it isn't, if your actions aren't aligned with what you believe
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is right and wrong, the way the world should operate, the way people
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should treat each other, then you're always going to feel uncomfortable
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and yucky and you're going to have resistance going on within yourself.
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You're going to say, oh, fuck, I wish I hadn't done that because I can't sleep.
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I don't feel good.
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My stomach's burning or that bit me in the ass.
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And you're going to have an impossible time building a team that are loyal
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and committed and clear about what the organization's values are.
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And further, you're going to have a very hard time, you're going
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to make a lot of mistakes around choosing who are the clients that are
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loyal and will become Raving Fans.
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Trust me, I know this from personal experience and you're going to have
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a hard time choosing suppliers that are loyal and dedicated and aligned
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with the values that you have and therefore providing the services
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and the support to help you succeed.
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I cannot stress enough how incredibly vital it is being very clear about
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your values, current, updated, refreshed, bought into, locked in,
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and how they are imprinted throughout your organization when you're a
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small business or a solopreneur.
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Stop and think about that for a minute.
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If you are the person who created the business, or primarily, or a major
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influence in the business, your values are imprinted across the organization.
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And when the organization acts in a manner that is conflicting or abrasive to your
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values, you're going to have an impossible time leading and making decisions.
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Now, that's a lot to chew on, and I'm happy to talk to you about that
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more if you want to reach out and have an Encore session with me.
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In the show notes, you'll find out how to do that.
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But in the meantime, please just be thinking about that.
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Every single important decision that you will make for your company starts with
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what is deeply in your personal values.
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Okay, so that's number one, core values.
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Number two in the
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The Rockefeller Habits, the strategic plan format
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was purpose
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or mission.
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Guess what?
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You cannot properly articulate a purpose or a mission for your company that
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conflicts with, opposes your values.
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It's just not a sustainable behavior or approach.
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So that is why being clear about your core values.
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then crafting a very purposeful mission statement and vision
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for the future of your company.
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And we'll come back to vision a bit more in the next section.
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When you're clear on your values and that drives what you All of these work for you.
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do the Why You Do It and Who You Do It For Then you can inspire
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and motivate your team, partners, customers, suppliers, everybody.
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And that makes it so easy.
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You are swimming with the current.
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The third part about creating a strategic plan that is really result driven.
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viable, and will propel your organization forward is having B Hags.
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Now, if you don't know what that term means, it's big,
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hairy, audacious goals, B Hags.
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And that sounds like it might be some character from Toy Story, but
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a BHAG is a really ambitious, long term, out there, visionary goal.
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that is deeply rooted in your core values, that is overarching
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your purpose and your mission.
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And it's really important for you to have that, because you know if you
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don't shoot for the moon, you will not land upon the stars, and every major
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corporation, every successful entity and individual in the world had lofty
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goals that they were shooting for.
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That's an essential part of creating the strategic plan that's got the short term,
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smaller, mid term, longer range goals.
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And it's also pretty damn exciting when you allow yourself to go,
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what if I started to think about my company, my leadership in terms
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of achieving those BHAGs, how would I behave differently today?
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How would I start behaving today as a leader?
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What decisions would I make differently?
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What actions would I take differently?
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What things would I say no to?
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And that's why having a BHAG, or more than one, but at least
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one, is really important.
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Okay, so I understand.
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This is a lot to think about, to chew on and absorb, and I'm going to leave you
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with that so that you have some time, I hope, to be thinking about this as
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you prepare for your The New Year, and maybe as you've ordered the book and
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you're waiting for it to be delivered, but I promise you I'm going to be back
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to you in the very, very next episode of this mini series to talk to you about
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the next three steps to prepare, to create an absolutely powerful, perfect
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for you and the next stage of your life and your business strategic plan.
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Stick with me.
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Come on back soon.
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Bye.
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