As Featured in Charles N. Internicola’s Business & Franchise Law Report Vol. 4 Issue 2
This past month our team had the opportunity to attend a mastermind and strategic planning meeting at Infusionsoft Headquarters in Chandler, Arizona. It was a great trip and turns out that while we were in Arizona, New York and the northeast got hit with one of the biggest snow storms ever. So, it wasn’t bad being in Arizona.
I often mention the topic of strategic planning and one of the biggest reasons why I frequently mention it is because, for me and our firm, I believe it has been an area for improvement.
During the past year we have been focused on our strategic plan for ramping up our client service levels and scaling up our growth. This is a work in progress but the good news is that:
(a) we have a “strategic plan”,
(b) it is in writing, and
(c) we have started to actively measure and track our plan.
The photos are from Infusionsoft’s corporate offices and the photo displaying Infusionsoft’s “Everest Mission” is the one that has left the most lasting impact for me. Back in 2007 when the Infusionsoft team focused on their strategic planning and how they would scale up and grow their business they mapped out their Mission which for them is “To create and dominate the market of all-in-one sales & marketing software for small businesses.”
Most important, the Infusionsoft team didn’t just articulate aspirational goals or wishes but rather they planned out and mapped out their multi-year mission with specific revenue, customer targets and key metrics. As you may be able to see in the photo the Infusionsoft team started their strategic planning in 2007 when their revenue was $5M and from there they planned out incremental two to three year revenue growth targets of $20M in 2010, $50M in 2012, $100M in 2014 and $200M in 2016. Infusionsoft is on track to hit their current mission summit and once completed this year the Infusionsoft team will be mapping out their next mission. Looking at Infusionsoft today and seeing a thriving organization on track to meet their $200M goal is impressive, especially when considering that the Infusionsoft team had the audacity to plan a mission with their goal that would take their revenue from $5M to $200M.
On the sides of the Infusionsoft mission board was something even more impressive which was quarterly lists and charts of tasks and team member responsibilities that would be carried out during the quarter to enable the Infusionsoft team to achieve their mission and the “camps” that they established along the way.
Definitely was an amazing experience and one that demonstrates the need for all business owners to not just work on their business but to also take a step back and create a plan for strategically scaling up and growing. Turns out that one key to this strategic planning process is to put the plan in writing, evaluate your strengths and weaknesses, set specific mission goals and to write down quarterly tasks than need to be achieved to get you closer to your mission goals.
A) Evaluated and set a 1 year, 3 year, and 5 year mission for your business?
B) Written down specific and measurable goals for your business?
C) Identified a strategy for the scaling up the growth of your business?
If not, check out Infusionsoft’s free Strategic Planning Guides here.