Many businesses in Edmonton invest significant time and resources into developing a comprehensive strategic plan, only for it to gather dust on the shelf. Without regular review and action, even the best strategies can fall short of expectations (and become a waste of money!) In this post, we’ll walk you through 5 key steps to ensure your strategy stays actionable, relevant, and aligned with your long-term goals in Edmonton’s competitive business landscape.
1. Set Clear, Actionable Goals
A well-designed strategy begins with clear and actionable goals. In Edmonton’s business environment, it’s important to set goals that are not only ambitious but also achievable and measurable. Yes, I know you’ve heard of SMART goals, but often organizations struggle here. Teams can focus more on MART goals or SART goals while failing to get specific enough that people across the organization can get behind it.
Similarly, they can miss out on what the real measurement or KPI is for success for a goal. KPIs can also become a trap. Too much emphasis on one KPI can result in sabotage for the core business or the rest of the organization. One flippant example I hear from newer entreprenuers in Edmonton is that they want to minimize tax and they make that a KPI. Well, it’s easy to minimize tax if you don’t make a profit.
Goals are great, but their KPIs need to be stress tested.
Tip: In your next strategy session, work with a facilitator to break down your goals into specific action steps that will drive measurable outcomes. Get everyone is aligned and focused on what needs to be achieved.
2. Create Accountability and Ownership
Your strategy can be well-crafted, but it won’t succeed without accountability. In many organizations, the lack of ownership over strategic actions is a key reason why strategies fail. Without a clear point person for each goal, it’s easy for things to fall through the cracks. Just as impactful as accountability is ownership – where the one responsible for implementing the goal has a stake in the outcome – good, bad or in between.
In our strategic planning process, we emphasize the importance of assigning responsibility and taking ownership. Accountability ensures that each action has someone with the authority and resources to make it happen. In Edmonton, businesses that create accountability are more likely to see their strategies come to life, from high-level vision to day-to-day execution. If your leader in charge of a strategic priority is struggling, our executive coaching services are likely to help them maximize their performance.
Tip: Ensure that your Edmonton team understands that for each part of the plan, there’s someone responsible for making it happen. This clarity of ownership will drive progress and commitment.
3. Establish A Meeting Cadence and Keep It Alive
In Edmonton, businesses face rapidly changing conditions, particularly in the energy sector. If you don’t review your strategy and adjust regularly, it can become stale. To keep your plan relevant, it’s crucial to establish a regular cadence of meetings, where results are tracked, and adjustments can be made as necessary.
By scheduling daily (yes, daily), weekly, monthly and quarterly meetings to review progress, Edmonton businesses ensure that their strategies stay aligned. Further, regular check-ins foster accountability, address emergent issues early and keep teams focused.
Tip: Use meeting facilitation for your quarterly meetings to keep your Edmonton strategy sessions focused on results.
4. Communicate to Create Understanding Across Your Edmonton Team
Most leaders in Edmonton (likely you included) are outstanding subject matter experts. You’re probably an engineer, geologist, or have another technical designation. To put it bluntly, you know your stuff. However, one thing I’ve learned through my career is the better we get at a subject, the more we forget that others don’t have this knowledge. Whoops!
An effective strategy isn’t just about creating a plan; it’s about ensuring everyone understands it. More importantly, you want buy-in where people feel connected to it. When teams in Edmonton understand the “why” behind a strategy in a common sense way, they’re more likely to take action and contribute to its success.
That’s why we use the ROI of Understanding™ framework to help businesses go from nodding to taking meaningful action. Our communication approach creates alignment at every level, from executives to front-line employees. Thus ensuring that your team is fully engaged and committed to executing the strategy.
Tip: After your strategic planning sessions, build a plan around communicating your intentions. Make sure to communicate the strategy in a way that resonates with everyone, ensuring they understand how their role contributes to the larger mission.
5. Celebrate and Reward Success
We know it can be a grind out there. You and your team in Edmonton are doing more with less. That’s why it’s more important than ever to pause to celebrate success when everyone’s hard work has resulted in a goal being achieved.
Celebrating milestones and achievement are important motivators. According to Psychology Today:
“Celebrating wins activates the brain’s reward system, boosting motivation and life satisfaction.”
Creating a scorecard and keeping it current allows businesses in Edmonton to visualize their progress and adjust as needed. By celebrating wins—whether big or small—you create a culture of success that drives continuous improvement.
Tip: Use regular check-ins and celebrations to motivate your Edmonton team, and ensure they stay aligned the long term goals. Build your celebrations into your quarterly planning so they are taken seriously at the senior level and don’t become an afterthought.
In Conclusion
Your strategy should be more than a document. It should be a living, breathing part of your Edmonton business. By following these 5 steps, you can ensure your strategic plan stays active, aligned, and driven by accountability, making it a key tool in achieving your business goals. Don’t let your strategy sit on a shelf. Take action today.
Ready to bring your strategy to life? Contact us today for expert strategic planning and meeting facilitation services designed for Edmonton businesses. We’ll help you turn your strategy into a powerful, actionable plan that drives results.
