As an introduction to our upcoming CEO Retreat, we asked Dave Shapiro to clarify the purpose and importance of the quarterly “Work Your Plan” presentations that are a cornerstone the Excell practice lineup.
Q: Why is Work Your Plan a part of Excell?
A: The data from Wharton and other top business schools shows that:
. . . those who have a business plan achieve more than those without one;
. . . those who have a written business plan do better than those whose plan is in their head or who have simply verbalized it;
. . . those who have a written business plan and use it to direct their activities and the activities of their employees fare even better;
. . . but that those who hold themselves and others accountable for achieving the plan achieve the most of all!
Having a plan that is written, communicated, and worked accountably is the first step toward success and that is why our “Work Your Plan” presentations are so important to Excell and its members.
Requiring members to present their plan and report to their fellow members on a quarterly basis requires them to ask questions such as:
1) Does my plan still make sense?
2) What is working and what needs to be shifted in this plan?
3) Where do I need help and for what feedback or solutions should I be asking
We provide a PowerPoint deck of 10-12 slides to our members in order to help them model what a good presentation looks like. We support them as their ability to analyze and communicate data improves. We also influence our members’ awareness of their strengths and weaknesses, as well as the strengths and weaknesses of their companies.
This process is crucial to reducing risk.
Q: Why have the “Work Your Plan” presentations quarterly?
A: Quarterly reporting forces our members to regularly look at what they said they were going to do and what they are actually accomplishing. After three months, our members have had enough time to see the trending data, while also affording enough time to make course corrections and/or adjust their annual goals, if necessary.
Q: How is this ‘planning’ different than what members do within their own organizations (sometimes) monthly?
A: Some of our members are, in fact, working their plans monthly and weekly. That is great. However, we ask our members to do a quarterly presentation that gets vetted by their peer group of business leaders and other CEOs. Every quarter, we ask them to also take time to look further out and possibly spot trends. In this way, a quarterly analysis is more strategic then a weekly or monthly accountability.
Q: What should members be asking themselves in preparing their WYP presentations?
A: They should asking themselves: “If I was a consultant/investor in this company, what would I be doing or doing differently?”
Q: What is it that members should be asking from their group during the presentation?
A: It is a great opportunity to get feedback and ideas from their peers. If they have a recurring problem, it is time to discuss solutions. It is a time to ask “What am I missing? Where will I get suprised? What should I start, stop, or continue?”
We all look forward to seeing you and your plans next month!
