How do you hold yourself accountable for your strategy?

Let me illustrate an example of how I set SMART goals ??, If I want to improve my Linkedin presence to get higher engagement ????: 1?? Specific - 25% increase in engagement ?? 2?? Measurable - Track likes ??, share ??, and comments ?? 3?? Achievable - Researched my target audience ?? and believe 25% is achievable ?? 4?? Relevant - The goals align with my mission of improving my overall brand ?? 5?? Time-bound - Reach this goal in 6 months ??? Now, I can hold myself accountable ? and monitor weekly progress ?? and make adjustments to meet the target ???. My advice - Please be transparent in sharing success/failure ???? and reward teams ?? when they reach milestones ??. Consistency is key ??!

How on earth do we know if we’re doing well, if we don’t have measures that define what ‘well’ looks like.?Each person, team and overall company needs a solid set of cascading okrs or smart kpis that outline what needs to be achieved and when and these feed into the overall company strategy We use 90 day OKRs which we review weekly to assess progress on each giving us foresight ahead of time.

Effective strategy execution hinges on a culture of alignment, communication, and adaptability. Clear communication ensures every team member understands their role and fosters collaboration. Adaptability enables swift responses to market changes. Key to this agile execution is the implementation of Objectives and Key Results (OKR), a dynamic method translating strategy into measurable goals. OKR empowers teams with autonomy, fostering a culture of accountability and enabling real-time adjustments. By seamlessly integrating strategy and execution through OKR, organizations can navigate complexities, capitalize on opportunities, and drive sustained success.

OKRs (Objective Key Results framework) can be a great tool to bridge the gap between strategy and articulating it into goals/objectives and driving tactical plans to achieve them. With OKRs, objectives describes what needs to be achieved and Key results describe how ones knows when we have achieved them. In addition, Strategy needs to be made relevant for individuals at all levels of strategy execution - Specific in SMART.

All goals / KPIs must ladder up to the overarching business objectives. For example: Business -> Become the number 1 biscuit brand in the market, at over ￡40m in value Marketing -> Increase penetration by 8% Comms -> Reach 90% of TA, reinforce quality perceptions, recruit younger audience And you can apply this to Price, Place, Product too so it all ladders up.

Tracking your actions is most crucial in Strategy ??. When I was advising a startup on their growth strategy, I consistently tracked metrics like customer acquisition ??, retention ??, and revenue growth ??. Through this approach, I identified what worked ? and didn't ?, and made real-time adjustments to the strategy ??. I borrowed the concept of agile methodology from product management to quickly adapt my strategy to changes to get the right outcome ??. I used BI (Business Intelligence) tools ??? and analytic platforms ?? to record and analyze outcomes. Then I shared the analysis with stakeholders ??. Tracking helped me identify risks ?? and mitigate them before they escalated ??.

One way to stick to a strategy is to make the goal extremely simple. I'm a big fan of the "One Number" approach. This is where every department is responsible for one number/KPI that can easily map to the end goal/result. Need revenue growth? How many leads has marketing driven? How many leads are jr. sales reps actually connecting with? How many qualified opportunities are the sr. salespeople moving down the funnel? How much revenue is closed by the sales department? In group meetings each individual is responsible for one number, and one number only to keep the business on track.

Holding yourself accountable is great, but we're human beings. We tend to track the goals that we're on track to hit, better than the ones we're not. Collaboration is the key. Bring in stakeholders, leadership, and other teammates regularly. Provide weekly or biweekly highlights that bullet not only the wins, but the areas of struggle. This gives you the opportunity to get input, limit surprises and keep everyone around you informed about how and what you are doing.

It's important to be thoughtful about leading vs lagging indicators as you set up what metrics and actions you want to track. Build as many leading actions/metrics in as you can. Embrace MVPs and agile philosophies in product development to learn as much as you can along the way. This makes it so much easier to course correct!

In order to understand if your outcomes (good or bad) are down to your efforts or pure luck (it’s usually a combination of both!), make sure you record your assumptions when you set your goals. Understanding and reflecting what information drives the predictability of the outcomes is as crucial to continuous improvement.

Multiple failsafes are in place. I share my strategy with the team, coaches, mentors, and other CEOs. It takes a village to keep me on track. The best thing I did was to hire a professional accountability coach (commitaction.com). This coach not only helps me formulate the strategy, but also keeps me focused on the top three things I need to do each week to achieve that strategy.

Seeking feedback from those who have succeeded is useful but what can be even more beneficial is seeking feedback from those who have failed as that is where the greatest lessons are learnt.

This comment relates to both this point and the preceding one, as they are both tied closely together. In leadership, tracking outcomes is paramount. We propel forward with our vision, but it's vital to retrospectively assess the impact of past decisions. Often, challenges are linked to our own charted courses. The feedback loop becomes crucial, creating a continuous improvement cycle. At all management levels, seeking feedback is not just about successes; it's about being brutally honest about past failures. Ego-driven leaders may shy away, but true accountability demands acknowledging missteps. This introspection ensures a nuanced strategy, fostering adaptability and growth while recognising personal accountability.

If you are a corporation or venture then you would have a board to do this. If still early or small, or even as an individual, set up a board. It is wise to have a “personal board” and treat yourself like a “personal brand” and your career like a “venture” so you have accountability on investments of time & effort for ROI.

A peer network or cross industry (non-competing) group can be a useful forum for getting feedback and sharing learning from strategy execution. Internal feedback from stakeholders who’re impacted by the strategy on day-to-day is critical too and not usually done well in my experience.

We are not just our thoughts, our emotions fuel our actions, too. Have you ever done grocery while hungry? ?? Upon reviewing and reflecting goals, have a systemic view that allow all data, including the felt emotions too. Be honest with yourself: what conditions contributed to the success or failure? When an external comment was made, what was my internal thought process? What did I feel because of that and what did I do because of that process?

Taking emotions out of trading decisions and following strict rules allows one to ensure their trading strategy is executed robustly. Reviewing winning and losing trades allows for any trading plan, strategy or system to be reviewed, amended if necessary and improved/enhanced.

Review and reflect isn't just a wrap-up, it's vital for growth. Take a step back and dissect your performance. Did you hit your KPIs? Where did you excel and where did you stumble? Celebrate the wins, but dissect the losses too. They're your best learning opportunities. This isn't just navel-gazing; it's about aligning your actions with your broader mission. Then plot your next moves based on these reflections. By doing this routinely, you keep your strategy dynamic and stay agile in your execution. Time spent in reflection is time well invested for future success.

How beneficial the reflection session is depends on how the company/teams view failures. If they are used as a way to reprimand employees and point fingers, no reflection can build a better strategy next time. If failures are seen as gold mines to learn and improve, employees can get fearless in their ideas and strategies. Which ultimately leads to companies discovering game-changing ideas.

Strategy reviews and strategy implementation sessions are two different ways of staying sharp and on point in your strategy. Review meetings: assessing whether the strategy is still the right strategy, given recent changes and developments, eg market dynamics, geopolitical developments, technological breakthroughs etc. Implementation sessions: assessing and adjusting the implementation of the strategy. Where are we behind, what can we accelerate, where do we need to shift resources. The strategy as such is not questioned, but the implementation is being accelerated.

Improvement is the main objective. Our assessment will allow us to see where improvements are required, it may be our "known shortcomings" or something new that is prioritized due to changes in the environment.

I would like to say adjust, improve and reevaluate if it makes sense to cut losses and put energy behind something else. The ability to know when to persist and when to stop is a key differentiator for a great leadership team.

Own the outcomes. As a leader, you are responsible for not only setting the course of action, but being the first person to evaluate the impact of your decision. It’s not about whether you got it right or wrong. It’s about creating a culture in which people are encouraged to keep innovating.

Adjust and improve is where the rubber meets the road. You've set SMART goals, tracked metrics, and gathered feedback. You've reviewed and reflected. Now what? Tweak and optimise. Adjusting your strategy isn't admitting defeat; it's about embracing agility. Maybe a marketing channel isn't delivering, or a leadership approach needs refining. Make the change. Business landscapes shift; your strategy should too. So, keep it flexible, keep it dynamic, but most importantly, keep improving. The moment you stop adapting is the moment you start falling behind. Keep your strategy as agile as your ambitions.

One can always adjust and improve and this can only be done if one is able to hold themselves accountable. There is no shame in making adjustments or improvements as many will not get it right first time around. Strategies need to be adapted along with the times, environment and variables in play.

Reward not just yourself, but intentionally design habits and protocols that will change the systems you thrive in. For example, if your goal is to have a healthier lifestyle, don't just buy yourself something nice as a reward when you reach a certain goal. Instead, plan a ritual! Every time you have reached a certain goal, you will celebrate by having a meaningful gathering with your closest friends who support you along the way,

Reward yourself automatically with surrender in every moment. If you slow down enough, every task can be a meditation. A way to admire the wonder of your keystrokes, your thoughts, your ability to walk, talk, eat, enjoy, breathe and how a hug feels. We tend to discount the greatest gifts in life until they are somehow amputated. If you can find bliss just in the ability to do and be, then you are already successful with a normalized heartbeat. Our forefathers, be they Neanderthals, Vikings, Mongols, Barbarians would be proud to see what we take for granted and that their suffering was not in vain. Their bones are the sand under our feet. We are in touch with them forever. Dance for them, dance for you..and for your kids.

Acknowledge and celebrate achievements and milestones, no matter how small they may seem. Recognition can boost morale and motivation.

To hold myself accountable I follow a 3x3x3x3 Strategy Accountability Approach. 1. Identify 3 Short Term Goals : As consultants we may have a broad range of aspirations for strategy growth. The best way to achieve them, though, is to focus on a few concrete goals at any one time. 2. Dedicate 3 Months (A Quarter) : Goal deadlines focuses the mind. A Quarter as a deadline is short enough to create a momentum and long enough to establish and test your strategy. 3. 3 Accountability Partners : Choose people who will have enough exposure to your work and progress in the specific domains in which you have set your goals. 4. Three Accountability Tests : What is my competitive advantage ? Am I ahead of Trends? Am I embracing uncertainty?

An example that resonates strongly in my head about being accountable to a goal is every time I've decided to do an Ironman. There are many factors to consider that go beyond fitness, so the SMART criteria applies perfectly.

? Empower team members to take ownership of their responsibilities and encourage them to make decisions within their scope of work. When individuals feel a sense of autonomy and ownership, they are more likely to take accountability for their actions and outcomes. ? Create an environment where open and transparent communication is encouraged. Team members should feel comfortable sharing progress, challenges, and ideas. Regularly provide feedback and facilitate constructive conversations to address any gaps or areas for improvement.

I’ve always used data to help with strategic marketing. The data from the past will help set the right KPIs or goals for the next chunk of time. The data from today will ensure that historic stuff wasn’t an anomaly or caused by a strange / unexpected event. Then continue to analyse the data as you move forward. It gives you a picture of whether your strategy is being well implemented and is the best one for your business to gain the wanted position. Do I love data a bit too much? Probably!

Key steps to consider - 1. Define Objectives and KPIs Clear objectives aligned with the mission. Identify quantifiable KPIs for tracking progress. 2. Establish Ownership Assign responsibilities. Cultivate ownership. 3. Develop a Plan Detailed with timelines, resources. Share with all stakeholders. 4. Frequent Regular Review Encourage open communication. 5. Analyze Deviations Investigate root causes. Take corrective actions without blame. 6. Adapt and Iterate Adjust strategy as the environment changes. 7. Foster Accountability Culture Lead by example. 8. Use Technology Ensure access, training for all. 9. Document, Communicate Communicate progress to stakeholders. 10. Evaluate, Learn Apply lessons for continuous improvement.