Strategic Planning—Too Much is Too Little

Source: Accounting Today

L. Gary Boomer says partners are often roadblocks to strategic planning because they won’t commit to it or be held accountable for executing it.

Partners often focus on the past at firm retreats. They may discuss strategies and threats but the discussion often stops there.

Boomer’s formula for overcoming these obstacles includes:

• Don’t start planning tactics until you look at the whole firm in a strategic way. Get partners to focus on the firm, not on client issues.
• Prepare a one-page plan that includes:
  • Mission and vision.
  • Values.
  • Strategic objectives.
• Don’t try to create more than six strategy objectives. Don’t confuse these with the tactical initiatives—the latter are more specific, and they can be measured.
• If there is no accountability, the plan will not be executed. Develop personal 90-day plans and review their progress every 90 days.
• Partners must allow themselves to be managed.

You will also find in the article a set of steps to take to get started on the planning process.

For the complete article, click here and select the article “Boomer’s Blueprint: Get Real About Strategic Planning” in the September 22, 2008, issue.

From Accounting Today, September 8, 2008, SourceMedia Inc., One State Street Plaza, 27th Floor, New York, NY 10004, 800-221-1809.

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