As a leadership team and organization, you've just done the hard work of setting aside the urgent of the day-to-day in order to focus on the important work of creating or updating your Strategic Plan, the document that guides strategic decisionmaking and resources in the short term in pursuit of your longer-term vision. The truth is, the work has just begun.
Now, more than ever, it's critical to leverage your strategic plan to demonstrate the value you're delivering to your community beyond the latest ridership figures. This proactive focus on results that matter will position your organization to communicate on offense rather than defense, as well as build the resilience of your organization to respond to future challenges.
Below are some ABCs that can help you to successfully implement your strategic plan and ensure that you are able to demonstrate value to your Board, customers, stakeholders, elected officials, and more.
How have we put these tips into action at TransPro?
Adapt - In our first quarter of reporting our own performance scorecard, we realized that some of our metrics needed some refinement. There were some metrics that were interesting to track, but when we really scrutinized what they were telling us and questioned how important they were to measuring our success, we realized they just didn't pass muster. So we decided to drop them and keep focused on the metrics that were more meaningful.
Build - When our team brainstormed the metrics that would best equip us to measure our success, we didn't necessarily know how we would go about measuring them with our current systems. But we knew that we didn't want system or process limitations to stop us from adopting a useful metric. We started by challenging our analyst team to figure out how to use our existing data in new ways in order to calculate baseline performance measures. We're now in the process of capturing requirements for new systems that will enable us to track these metrics more efficiently and effectively.
Commit - As an organization, we assess our overall results on a quarterly basis. We also check in weekly or monthly on some of our highest priority metrics to keep tabs on progress throughout the quarter. We've recently begun having our quarterly meetings a week before the quarter closes and make educated projections on where we expect to end up by the end of the quarter. This has helped us to start the next quarter with a better sense of where to focus our attention.
Having a plan is a great first step in defining the value that your organization is committing to deliver to customers and the broader community, but implementing the plan and reporting progress is where real value is delivered.