Annual Planning Slides

Copyright © 2017 Rhythm Systems, Inc. rhythmsystems.comRhythm® University

ANNUAL PLANNING


WELCOME & KICKOFF


OBJECTIVE

1.Review & confirm our strategy

2. Set Annual Goals and 3-5 Top Annual Initiatives for the new year

3. Develop Next Quarter’s Execution Plan

4. Create plan to cascade to teams & roll out to the rest of the company

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CHECK IN

Everyone share: a piece of good news or a recent victory or a brag

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REVIEW, DISCUSS, BRAINSTORM


THE YEAR IN REVIEWR e s u l t s

W h a t w a s o u r p l a n ?W h a t d i d w e a c c o m p l i s h ?

B r i g h t S p o t sW h a t i m p r o v e m e n t s d i d w e a c h i e v e ?

W h a t w o r k e d w e l l t h a t w e c a n u s e g o i n g f o r w a r d ?

L e s s o n s L e a r n e dW h a t d i d n o t w o r k w e l l ? W h a t d i d w e l e a r n ?

P a r k i n g L o t A n y i t e m s i n o u r P a r k i n g L o t n e e d d i s c u s s i o n ?

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REVIEW ENDING YEAR’S PLAN

D i s c u s s t h e A n n u a l I n i t i a t i v e s , Ta r g e t s , T h e m e & C r i t i c a l # s D i s c u s s t h e B r i g h t S p o t s a n d L e s s o n s L e a r n e d


REVIEW PARKING LOT

D i s c u s s i t e m s t h a t w e r e r e c o r d e d i n t h e P a r k i n g L o t t h r o u g h o u t t h e y e a r .

C o u l d a n y e n d u p a s C o m p a n y o r I n d i v i d u a l P r i o r i t i e s i n t h e c o m i n g y e a r o r q u a r t e r ?

D o a n y r e q u i r e a d e e p e r d i s c u s s i o n ?


REVIEW PREP WORK

• Share all ideas

• Narrow down to those that could have the biggest impact on the next year/quarter

• Discuss those ideas as a team

• Consider these as you create your plan for the next year or quarter

Star t -S top-Keeps


OPPORTUNITIES & THREATS

3 - 5 Ye a r T i m e H o r i z o n

• Think independently

• Share all ideas

• Narrow down to those that could have the biggest impact on this year


CONNECT STRATEGY TO EXECUTION


CONNECT STRATEGY TO EXECUTION

Step 1: Review to Connect StrategyStep 2: Discussion TopicsStep 3: Determine Winning Moves & 3-5 Year Plan


REVIEW STRATEGY

• Your Core:• Core Values• Core Purpose• Core Customer

• BHAG• Brand Promise• Winning Moves & 3-5

Year Plan


DISCUSSION TOPICS

• D e t e r m i n e i n a d v a n c e t o p i c s t h a t n e e d d i s c u s s i o n• C o u l d b e i t e m s f r o m P a r k i n g L o t , S t a r t S t o p K e e p , e t c .• C o n t i n u e w o r k i n g o n a T h i n k R h y t h m d i s c u s s i o n• P i c k t o p i c s t h a t w i l l p r o v i d e t h e t e a m w i t h t h e p r o p e r

i n s i g h t s n e e d e d t o h e l p t h e m s e l e c t p r i o r i t i e s o n D a y 2• E x a m p l e s i n c l u d e : p r i c i n g m o d e l s , n e w m a r k e t o r

c u s t o m e r o p p o r t u n i t i e s , n e w p r o d u c t / s e r v i c e i d e a s , p e o p l e n e e d s , c u l t u r e d e v e l o p m e n t , n e w t e c h n o l o g y, m a r k e t i n g i n i t i a t i v e s


DETERMINE OR ADVANCE YOUR WINNING MOVES & 3-5 YEAR PLAN


WINNING MOVES

A Winning Move is a specific 3-5 year Strategy designed to dramatically increase revenue.

• Brainstorm new Winning Moves• Evaluate progress and potential

of current Winning Moves• Identify 1-3 Winning Moves to

include in your 3-5 Year Plan


BRAINSTORM WINNING MOVES

Brainstorm 20 ways to increase revenue• What are we GREAT at?• Revisit our BHAG, Brand

Promise• New markets, new productsVote and narrow down to top 5-8 for evaluation


RANK TOP 5-8 IDEAS

• On a scale of 1-10 what is the revenue impact?• On a scale of 1-10, how easy would this be to do?


CHOOSE YOUR 1-3 WINNING MOVES

• Decide what to say yes to and what to say no to.

• Classify each idea:

• Winning Move for revenue = part of 3-5 year plan; revenue growth

• Winning Move for profit = part of 3-5 year plan; infrastructure & scalability

• Idea Bench = Later, other Moves are more important

• Dead = Stop, losing move


SET UP THINK RHYTHM

Continue working on these Winning Moves in your Think Rhythm

• Who owns the Think Rhythm?

• Who else should participate?

• When’s your next meeting?

• How often will you meet?


3-5 YEAR PLAN

Set revenue and profit targets

In addition to your Winning Moves for revenue, what other strategies must you develop to achieve your targets?

The right mix will include:1-3 Winning Moves for revenue2-3 Winning Moves for profit


SUMMARIZE

W e h a v e c o m p l e t e d P a r t 2 : C o n n e c t S t r a t e g y t o E x e c u t i o n

W h a t h a v e w e a c c o m p l i s h e d s o f a r ?E a c h p e r s o n s h a r e a f a v o r i t e t a k e a w a y f r o m o u r

S t r a t e g i c T h i n k i n g t i m e .


EXECUTION PLANNING


ANNUAL PLAN

• Create Destination Postcard• Set Targets• Determine Main Thing and

Critical Numbers• Annual Initiatives• 4 Quarter Flyover Plan


CREATE A DESTINATION POSTCARD FOR DEC. 31 S T

Imagine that you have a time machine. You zip to the end of next year... you had a great year!

• Describe the feelings you have and the vision of your successful year

• What were the Top 3 things that you achieved?


USE THE DESTINATION POSTCARD TOOL

E a c h p e r s o n s h o u l d s h a r e :

• Te l l u s a b o u t y o u r g r e a t y e a r . . . w h a t h a p p e n e d

t h a t m a d e i t g r e a t ?• W h a t a r e t h e t o p 3 t h i n g s

o r p r o j e c t s t h a t m a d e t h e y e a r g r e a t ? E a c h t e a m

m e m b e r s h a r e s .


DETERMINE ANNUAL FOCUS

Ta r g e t s , M a i n T h i n g , C r i t i c a l N u m b e r s


SET YOUR ANNUAL TARGETS

What are some key financial targets for the next year?

Examples: Revenue, EBITDA, Retention, # of clients, Revenue per employee


WHAT’S THE MAIN THING THIS YEAR?

Y O U R T H E M E

OPPORTUNIT IES

THREATS

START/STOP/KEEP

ANNUAL INIT IATIVES

3 YEAR WINNING MOVES

HABIT/SKILL


WHAT ARE YOUR CRITICAL NUMBERS?

Critical Number #1•What is the best leading indicator to measure progress on your Main Thing?

Critical Number #2•What might slip through the cracks if you were too focused on your Critical #1?


SET TOP 3-5 ANNUAL INIT IATIVES

•What are the Top 3-5 Priorities for the company this year?

•Assign an owner for each

•Determine Red-Yellow-Green® criteria for each


CREATE 4 QUARTER FLYOVER PLAN

F o r e a c h A n n u a l I n i t i a t i v e :W h a t a r e t h e m a j o r

m i l e s t o n e s f o r e a c h p r i o r i t y o v e r t h e n e x t 4 q u a r t e r s ?

T h i s i s n o t s e t i n s t o n e . T h i s i s t o h e l p y o u v i s u a l i z e

y o u r y e a r , u n d e r s t a n d t i m i n g , a n d s e e t h e

r e l a t i o n s h i p b e t w e e n i n i t i a t i v e s .


QUARTERLY PLAN

• Set Targets• Determine Main Thing and

Critical Numbers• KPIs• Company Priorities• Individual Priorities• Test the Plan


DETERMINE QUARTER FOCUSTa r g e t s , M a i n T h i n g , C r i t i c a l N u m b e r s


SET YOUR QUARTERLY TARGETS

What are some key financial targets for the next 13-week race?

Examples: Revenue, EBITDA, Retention, # of clients, Revenue per employee


WHAT’S THE MAIN THING THIS QUARTER?

Y O U R T H E M E

OPPORTUNIT IES

THREATS

START/STOP/KEEP

ANNUAL INIT IATIVES

3 YEAR WINNING MOVES

HABIT/SKILL


WHAT ARE YOUR CRITICAL NUMBERS?

Critical Number #1•What is the best leading indicator to measure progress on your Main Thing?

Critical Number #2•What might slip through the cracks if you were too focused on your Critical #1?


REVIEW KPIs

Part 1: Review KPIs that have carried over in Rhythm® from the previous quarter

Part 2: Add new KPIs as needed (ie critical numbers)

Part 3: Set Red-Yellow-Greens® & data standards


REVIEW KPIs THAT HAVE CARRIED OVER IN RHYTHM ® FROM THE PREVIOUS QUARTER

Are all of these still relevant?

Do they all still provide valuable insight?

If one goes Yellow/Red, should it prompt an action?

I f t h e a n s w e r i s n o , d e l e t e i t ! R e m e m b e r, l e s s i s m o r e .

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ADD NEW KPIs AS NEEDED

• Do we have a good mix of leading and lagging indicators?

• Were we blindsided by anything last quarter?

• Is there a specific problem we need to solve?

• Do we have KPIs to measure our Critical Numbers?


SET RED-YELLOW-GREEN ® & DATA STANDARDS

Set Success Cr i te r i a f o r each KP I :Green: Success: What’s our goal?

Red: Unacceptable: When do we have a real problem?Yellow: Between Red & Green: Our warning sign

Super Green: Time to Celebrate!

Set da ta s tand ards fo r each KP I :Make sure we are all measuring the same way

Agreement on a quarterly, monthly or weekly time horizon

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SET COMPANYTOP 3-5 PRIORITIES

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•What are the Top 3-5 Priorities for the team this quarter?

•Assign an owner for each

•Determine Red-Yellow-Green® criteria for each


DETERMINE RED-YELLOW-GREEN ®

2 ways to RYG Priorities:• Use a NUMBER• DESCRIBE successTips• Focus on specific results• What does success look

like?• What does failure look

like?• Avoid using dates

alone


SET INDIVIDUAL TOP 3-5 PRIORITIES

•What are the Top 3-5 Priorities for each of us? How do each of us support the Main Thing?

•Determine Red-Yellow-Green® success criteria for each

•Share and agree as a team on each person’s Individual Priorities


TEST & CASCADE PLAN


TEST YOUR PLAN

• Financial Test: if we successfully complete this plan, will we also achieve our financial goals?

• Energy Test: do we have enough energy (Individual & Team Priorities) focused on the #1 Priority?

• Accountability Test: do all Priorities have clear RYG success criteria?

• Focus Test: is our Main Thing clear to everyone and supported by the Company Priorities?


WHAT IS YOUR DAILY QUESTION?

Take your Main Thing and transform it into a question that you can use every day to maintain focus

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CREATE PLAN TO CASCADE TO DEPARTMENTS

• Which Teams are Cascading this quarter?• Team Leaders should schedule their Planning sessions• Set a date and format for sharing Team Plans across Departments

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COMMUNICATION PLAN

•Make sure everyone in the company understands the company’s execution plan for the quarter.

•Make sure everyone knows the Daily Question.

•Challenge everyone in the company to have at least 1 priority.

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Annual Planning Slides

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Transcript of Annual Planning Slides