Annual planning may be stifling business growth. Traditional annual planning methods, with their rigid goals and inflexible strategies, can prove detrimental to a company’s expansion. Instead, adopting a quarterly planning approach can inject agility and flexibility into business operations. Quarterly planning allows for shorter-term, more adaptable goals that can pivot with market changes.
A key element of this approach is the OKR (Objectives and Key Results) framework. This tool helps businesses to define and track objectives and their outcomes. It encourages teams to focus on the most crucial priorities, fostering alignment and engagement across the organisation.
Additionally, the use of ‘learning goals’ alongside performance goals can spur innovation. While performance goals target specific outcomes, learning goals focus on developing new skills or knowledge.
Finally, a regular review process is crucial. Reviewing progress every six to eight weeks can ensure the business stays on track. This frequent check-in allows for adjustments, keeping the business agile and responsive to changes. It’s about setting ambitious, yet adaptable goals, and maintaining a relentless focus on growth.
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