Today's discontinuous technologies and disruptive change have reinvented the rules of strategic planning. If you're going after a new market space or creating a new-to-the-world product or service, or reinventing an industry business model, gone are the days of traditional plans and forecasts. There's just too much uncertainty in the world now to be constrained by rigid planning processes.
So what do you do?
You create a Strategy Map.
A Strategy Map is a visual representation of your vision and related priority strategic objectives. A good Strategy Map basically communicates what needs to happen to achieve your vision at a high level in the short, mid- and longer-terms - ideally on a single page.
Here's a template that anyone can download and modify to build out their own strategy map. The template includes the following categories, organized by what needs to happen in the short-, mid- and longer-terms:
Vision - what's the world you want to create in the future?
Strategic focus - how does your strategy needs to shift over time?
Strategic goals - what specific goals support your strategy?
Target markets & customers - what markets or customers will you tackle over time?
Solutions - what offerings will you provide and how will these change over time?
Key risks & barriers - what risks or barriers might you encounter?
Key metrics - how will you measure success?
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