Presenting a Strategic Plan is something of a poisoned chalice. On one hand it is an ideal opportunity to demonstrate your understanding of the business and impress pretty senior people about your business acumen. On the other hand its very nature, unlike that of operating plans, invites very wide-ranging intellectual discussions with executive management during the presentation. A slip there can have very serious and permanent consequences.
The challenge therefore is to build up a reasonably believable plan and present it in a manner that, at the end, you still have your job intact. Having survived a number of such sessions, and now mostly having the pleasure of being in the reviewing audience, I do get asked for advice on best survival tips. In my opinion it’s more of a matter of avoiding certain key pitfalls. So here goes my two cents or seven and a half halala’s worth of advice…
First, bond thyself and thy audience. Now this is the real easy part, provided of course you are hot, blond, of the right friendly disposition and can successfully give Pamela Anderson a run for her money. For all the rest of us this is a big challenge.
It always pays to be humble and suitably deferential towards the audience, most of whom , except for the owners progeny, are unlikely to be anything other than shrewd and seasoned business executives. Time-honored openers like “it’s a pleasure presenting to all of you”, work all the time.
Stating that all your labor is, at the most, only likely to lead to a better understanding of the business challenges is another time tested winner: does all this sounds corny? Yes it is, but remember this is all about survival. Nobody likes a wise guy who pretends he is the biggest know all ever, so please do not come across as one, especially not at the start.
Second, know thy business and its limits. Pretty obvious, right? But seldom adhered to! While discussing the key objectives of the plan, we all have this irresistible urge to impress the audience. And in our zeal to impress, our vision comes across as being on par with the desires of a modern day Alexander. However, unless you are a Harvard dropout or had been given away at birth, and now are willing to cheat, copy, bully and lie your way to top, chances are slim that you will be the next Bill Gates or Steve Jobs and lead your organization to everlasting glory. Plus of course, there is the small matter of having a high enough IQ.
Please ensure that you come across as someone who knows the difference between a vision and a dream.
Third, sell strategies they, not you, think are implementable. Therefore, please spare the audience the details of your grand designs related to the new world order. Banish the thoughts of revolutionizing the industry , stick to leveraging what your businesses core competencies are and you should have a built up a fairly reasonable pointer towards where all of you could possibly land up in another three to five years. And please keep the language simple and avoid grandiose expressions. The number of times I come across the words “passion” “anticipation” and “excitement” would make most of our film starlets blush.
Fourth, explain thy key plan assumptions well, and near the start. This does not mean showing a bewildering array of charts setting out endless population, GDP, inflation and sale trends numbers. Try building on something more interesting based on consumer insights, price points evolution, channel segmentation, etc. It is advisable to invest some money on good market research beforehand instead of downloading pages from CIA fact book. This should add credibility to the numbers you are building your whole plan on.
At the fifth place comes tackling thy enemy’s evil plans. Please keep in mind that everyone in that room is aware that you are not, unfortunately, the only player in the market, and that the enemy would also be planning your business’s demise. So an inadequate competitive analysis section makes you look quite foolish and out of touch with reality. Both of these outcomes can have very serious career repercussions.
As for number six, please be cautioned that Capital Expenditure both mattereth and hurtheth the moistest. Now you are on really dangerous grounds. Your audience will know, from bitter experience, that imprudent CAPEX outlays have a striking resemblance to bad marriages. You continuously regret getting into them and it’s impossible to avoid the consequences; and no wonder as most of the CAPEX requests I review are meant to look good on only one place, the Operations Directors CV! So only present what has been thoroughly assessed. Think instead of upgrades, and possibly leasing, and thou should be on safer grounds. This, by the way, applies to romantic liaisons also…
And seventh and the last, and the most critical. Do not wait to be asked questions, you do it all the time. Take the lead in asking them questions and then pointing out the answers in your presentation impresses them a lot, also makes them feel grateful for not having to think too much!
The best way as ever is to be well prepared and to understand that strategic plans are a means to an end, not an end by themselves. This way you will enjoy the experience. And hopefully survive to fight another day…