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Developing your firm’s strategy checklist

Reviewing an accounting firm’s strategic structure is a valuable process for the alignment of Partners to the firm’s strategic plan. In fact, it is a valuable process for any business and a perfect entry into more advisory based strategic planning services for your business clients.

The following 15-point Strategy Checklist is a practical review to plan, organise and execute a cohesive review of the strategic plan execution, to define the need for a strategic plan if one is not there. The goal is to rate your organisation out of 5 being the highest, and 1 being the lowest on your strategic performance and understanding. Any gaps present, offer the opportunity to address these issues in future planning sessions.

Why not give it a try on your firm and see how all owners and key team members view strategy?

The strategy processes

  • The extent to which the whole board is involved in strategy development
  • The balance between board and management input into strategic process
  • Strategic planning is built into the board calendar
  • The understanding of the board as a whole of company strategy
  • Sufficient time and resources are devoted to strategy development

Strategy and regular board meetings

  • Strategic issues get strong coverage at all board meetings
  • All board papers for decision relate the item back to the agreed strategy
  • KPIs are relevant to the strategy
  • Regular strategy updates occur at the board meeting
  • The Managing Directors report is strongly linked to strategy

Strategy Content (your understanding of)

  • Our agreed mission
  • Our agreed vision
  • Our corporate values
  • The agreed goals of the organisation
  • Our core strategies

Finally on a scale of 1 to 10 and 1 is Extremely Poor and 10 is Excellent, how would you rate the board’s understanding of the strategy role? If you need help with your strategy planning, consider getting involved in my new StratAdvise program. Click here for more information.

I have always believed when assessing the need for advisory services with clients to lead off with strategy and support later with transactional analysis – not the other way around. At its core, strategic planning is the process of defining the goals of your and your client’s organisation for the immediate future and the strategies by which these goals will be achieved and resourced.

Strategy checklist concept

Put simply, a strategic plan is the top three or four things that the board has agreed the business has to get right in the next two or three years. In practice, it is a doorway to innovation, cultural change, and proactive strategies to manage your response to a changing environment.

Why not give it a go with select clients? The strategy assessment and subsequent discussion can lead to many more opportunities for business improvement and enhance your advisory services!

If you would like to find out about my Strategy Enabled Program, contact me to book a complimentary 45-minute complimentary assessment to find out what your firm needs to streamline for success.

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Mark Holton

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