STRATEGY & OKRs
Would you benefit from a clear strategy and implementation plan?
Whether you are a Travel Buyer (Travel Agent, Travel advisor, Tour Operator etc) or a Travel Supplier (DMC, Operator, Accommodation etc), having a business strategy and plan is a hugely valuable tool to speed up growth and ensure all your staff are moving in the right direction.
A business strategy is a long-term plan that you create for your company to reach the desired, future goals and objectives you want to achieve. In simple terms, you can think of it as a way of outlining to yourself and your team:
Where you are now
Where you want to go
How you are going to get there
A business strategy is an invaluable “roadmap” that can help to align everyone in your organisation to work towards the same goals and objectives. Even more than this, the process of creating a business strategy is an imperative process to ensure that you are setting the best goals, objectives and overall strategic direction to ensure the future success of your business in the current climate and for what you predict is going to happen in the future.
Your organization needs strategic planning to have clear business goals and know how it is going to achieve them. All staff need to be on the same page, be aligned and have a clear roadmap and plan.
Strategic clarity and goals
Focus
Alignment across the organization
Build a strong foundation on which to continue to scale and grow the business
An outline of our business strategy workshop
STEP 1
A general Audit of your company - Gain clarity of “Where you are now”
Vision, Mission, Values – company culture
Your “WHY” – Your cause, purpose, belief? See the famous Steven Sinek Talk
SWOT Analysis - What are your Strengths, Weaknesses, Opportunities & Threats?
Financial Overview - Facts and figures about your current business situation – sales breakdowns and trends, conversion rates etc
Competitor Analysis
USPs - What are your unique selling points?
What are your products, services and target buyer personas?
STEP 2
What does success look like in the future for you?
Together we creatively develop a vision of “Where you want to be” in 3 to 5 years’ time that aligns with your values, mission and the opportunities and strengths you see and protects against the threats and weaknesses identified.
Set clear goals and priorities about what you want for the company
At Travel Kinship we like to use the OKR system for goal and key results setting – a great way to identify priority actions, monitor progress and keep everyone accountable.
What are the key measurements that we must track to be able to measure success against these goals?
STEP 3
What gaps exist between your current state and your desired future state? How will you bridge that gap?
Outline/brainstorm all the issues, problems and to-do lists that you feel will get you to where you want to take the business.
What are the strategies, general methods that you intend to use to reach your goals?
STEP 4
Narrowing Down & Prioritising
Decide on key priorities of what actions and results are needed to get you from “Where you are now” to “Where you want to be” and build that into a strategic plan.
What are the priorities?
What’s the budget?
What resources do you have?
What’s realistic to achieve with what you have?
Crucial to be ruthless about what activities are most likely to make the biggest moves initially and that you have the budget and resources to implement.
STEP 5
What’s the plan? Who is going to do what by when?
Set up an OKR process – or similar – to help with the implementation of that strategy and set up an ongoing, continual strategic process.
Outline a realistic plan and budget for the next 12 months using the OKRs process
Work out how you will keep accountability and measure progress and manage the project.
“I have known and worked with Becky for over 13 years and have found her to be incredibly dynamic, reliable and knowledgeable. Becky has fire in her belly for travel and has been an amazing support on the ground.”
CHARLIE LOCKWOOD - Travel Specialist, Luxtripper