“There is so much going on, it is hard to land the plane”. This comment came out of a conversation with a leader recently. This leader is not alone. A survey I ran earlier this year shows that 70% of leaders are struggling to execute. They are struggling to define and keep the top priorities for their business, too. Without clear priorities, these leaders are fighting daily fires instead of strategically focusing on the right activities to grow their business.
What does it mean to land the plane for your business? We all know every pilot has steps and a checklist to follow, so let’s look at the steps in a business through the PLANE framework.
P- Plan, not just any plan; you need a Strategic Execution Plan. A Strategic Execution Plan allows you to draw a straight line from your priorities this quarter that lines up to your quarterly goal, which gets you closer to your one-year, three-year, and big hairy audacious goals. It can be compared to being able to see the 30,000-foot view to the ground.
L- Leadership is one of the top reasons businesses fail. Leaders must act as the chief vision officer who is sharing where the company is going and how you will get there. Make sure you have the right people on your plane in the right seats who live your organization’s values and are aligned to the vision and their teams. Psychological safety must all be present.
A- Accountability- Leadership shares the responsibility and accountability with their organization. Their business uses an open playing field where your organization’s score or progress is currently visible to everyone. The open playing field creates transparency and enables teams to be agile and iterate to meet their goals. In addition, every team member knows what is expected of them and what it means for them to win.
N- Next- Your business is consistently looking for what is next by continuously validating their market and core customer. This team is also looking at their strengths, weaknesses, opportunities, trends, and threats to run experiments to validate their strategy and continue to meet the marketplace’s needs.
E- Execute- Your business uses the proper execution routines and tracks the right fiscal and nonfiscal metrics to execute efficiently. Of course, cash is the number one fiscal metric every business must track to ensure you have fuel for your plane. As a result of using the proper execution routines, teams can have healthy debates and work together to ensure the business’s top priorities for the quarter are achieved, even if it isn’t their number one priority.
What is the condition of your business’s plane? Are you ready to land on time, or are you telling your passengers you are experiencing some unexpected delays? How can you use the PLANE framework to set your business up for success?
