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Budget time means setting your strategic goals and getting ready for execution

During the fall most companies are setting their strategic goals for the next few years with emphasis on the coming year. “Don’t forget to translate your goals into measurable metrics”, says Mats Gerschman, President at Fortus Consulting. “Many times strategies are outlined as goals for revenue and profits, market dominance, new products to be launched, etc. It is important to know where you need to go, but don’t forget to describe how you will get there.” If a company properly describes the path to success, how they will travel on this path, and how to monitor whether they are actually progressing, the likelihood of achieving success is much higher. Staff and middle managers need to understand what senior management wants to achieve. They need communication about the big picture, but also about what they are expected to do to contribute to the company’s success. “Fortus has been assisting some very successful companies to build infrastructure to be even more successful over the summer months,” says Fortus’ Vice-President, Amanda Armstrong. “When we’ve asked for data to measure important parameters, we’ve found that data does not exist. So even though senior management considers certain parameters to be critically important to the business, there are no data or metrics.  Fortus has worked on highlighting this for our clients, helped them to set up processes and structures to streamline operations and measure progress.”

In busy times, as a senior manager, focus is often on customers, investors and Board of Directors. It is taken for granted that middle managers and staff make sure that operations run smoothly. When senior management are presented with options and projects to invest in, it makes it hard to make the right choices if they don’t have a history to look back on and common metrics to compare alternatives with. This “management gap” is where Fortus plays an important role. The Fortus team reaches the top and can discuss strategy and then assist middle management and staff to translate the strategy into execution and metrics to achieve success. “We always look for implementation and assist to analyze gaps, create processes and then train employees to make sure that the processes are understood and work well. We want our clients to get results, not just recommendations,” says Gerschman. “So in budget times, think about creating strategies and goals, and also spend time to create an execution plan. Establish metrics and communicate with staff. This way you will achieve results according to your vision.”

Fortus analyzes, creates and delivers results and is pleased to have worked with a number of outstanding BC companies this year.