Dennis Hummel’s Post

With 2024 upon us, it’s time to get your vision checked. Vision is a story. A guiding star. It’s also the precursor to your strategic plan. But first: Strategy isn’t a one-off and annual activity—it’s a way of being. Leaders must recognize that the days of relying on tried-and-tested methods are over. The era of stability is long gone, and what worked in the past won't cut it today. Likewise, strategic planning is not just a static document. It’s a living, breathing blueprint for success. Yet according to inc. recent research revealed that 72% of CEOs utilize an internally developed approach for strategic planning. (See comment 👇🏻 for a link to the article and research.) This is problematic. You (and your process) must flex to meet the ever-changing nature of today's marketplace. How do you know your vision needs to be checked? If you’ve answered yes to any of the following: 1️⃣ Your work looks different than it did one year ago. 2️⃣ Making decisions about how to move forward has become increasingly difficult for your company. 3️⃣ The constant change and shifting gears over the past year has left your team feeling misaligned on priorities, and you want to get back on track. Bet you answered yes to at least one of these—if not all three. Do you know where you’re going in the future? What are you struggling with when thinking about your strategy and plan for 2024? Let everyone know in a comment. 👇🏻 #futuresthinking #innovation #strategy #growth #imagination

Forward Thinking: Creating a 10-year plan

Having gone through selling a 3-decade old business in the last six months, I can tell you, it's never too early to plan for an exit. I get it. Selling your business seems so far off ... so why invest the headspace now? In many conversations with coaching clients over the past few months, I've heard of plans to exit anywhere between 6 months from now (that's a VERY short runway) and a decade from now. In both and all cases, preparing today is crucial. Great article Vistage on this topic. And friends, if you're not part of a #Vistage circle, please consider joining one. Among other challenging waters, your #PeerAdvisory group can help you with this tough topic. Message me, and I'll help point you in the right direction. Read this 3 minute article: https://bit.ly/44MNIRL #ExecutiveCoach #LetsWin #Succession

I enjoyed getting to put some of my thoughts about clarity of organizational purpose down on paper. https://lnkd.in/gARFc9rE

Strategic moves

Organizational change should not be taken lightly. It’s important to ask yourself if your next move is the right one and have a strategy behind every action you take. Here’s a little advice to ensure you’re on the right path.  https://shorturl.at/Rv9yi

🤔 When looking at change and transition in your business (or life), have you considered the type or depth of change that is being embarked on? Here are three areas, or questions to help you think this through: 1. First-Order Change vs. Second-Order Change: When considering changes for your business, think about whether you're making minor adjustments within your existing framework (first-order change) or if you're looking to completely transform how your business operates (second-order change). Understanding this difference will help you gauge the level of disruption and resources required for the change. 2. Transformational vs. Incremental: Are you planning to revolutionize your business strategy, culture, or products/services (transformational change), or do you prefer to make gradual improvements over time (incremental change)? Depending on your business's goals and circumstances, you'll need to decide between aiming for big, bold shifts or focusing on steady, continuous progress. 3. Planned vs. Emergent: As you navigate changes in your business, consider whether you're following a predetermined roadmap or strategy (planned change) or if you're open to embracing unexpected opportunities or challenges as they arise (emergent change). Balancing structured planning with flexibility can help you adapt to evolving market conditions while staying focused on your long-term objectives. By understanding these distinctions and aligning them with your business's needs and goals, you can effectively navigate the complexities of change and steer your business toward success. #change #professionaldevelopment #transition #coaching #whatsnext

🌟 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻-𝗠𝗮𝗸𝗶𝗻𝗴 𝗶𝗻 𝗟𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽: 𝗔 𝗣𝗮𝘁𝗵 𝘁𝗼 𝗦𝗰𝗮𝗹𝗶𝗻𝗴 𝗦𝘂𝗰𝗰𝗲𝘀𝘀 In our professional lives, how we make decisions can significantly impact our growth and our organizations' success. Through my experience in various sectors, I have learned how important it is to have a structured decision-making process, which can greatly affect the organization's growth and impact. 📈 𝗦𝗰𝗮𝗹𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗮 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲𝗱 𝗔𝗽𝗽𝗿𝗼𝗮𝗰𝗵 𝗖͟͟𝗼͟͟𝗺͟͟𝗽͟͟𝗮͟͟𝗻͟͟𝘆͟͟ ͟͟𝗙͟͟𝗶͟͟𝗿͟͟𝘀͟͟𝘁͟͟: Prioritizing the organization's needs aligns our actions with broader business objectives. This foundational layer supports everything else – it's about driving operational efficiencies and spearheading advancements. It's the base upon which scalable success is built. 𝗧͟𝗲͟𝗮͟𝗺͟ ͟𝗦͟𝗲͟𝗰͟𝗼͟𝗻͟𝗱͟: The strength of an organization lies in its teams. Focusing on team needs after the company, we create a nurturing environment where learning and trust flourish. This collaborative approach fosters innovation and efficiency, driving the organization to new heights. 𝗜͟𝗻͟𝗱͟𝗶͟𝘃͟𝗶͟𝗱͟𝘂͟𝗮͟𝗹͟ ͟𝗧͟𝗵͟𝗶͟𝗿͟𝗱͟: Personal growth is vital but is our strategy's third layer. By focusing on individual development within the context of the organization and team goals, we ensure that every personal achievement contributes to our collective mission. 🚀 𝗧𝗵𝗲 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝗦𝗰𝗮𝗹𝗶𝗻𝗴 𝗮𝗻𝗱 𝗛𝗲𝗹𝗽𝗶𝗻𝗴 𝗢𝘁𝗵𝗲𝗿𝘀 By adhering to this decision-making framework, remarkable growth can occur. This structured approach allows us to scale effectively and extend our positive impact to more people and other organizations. Our growth is not just in size but in capability and reach, enabling us to contribute more significantly to our industry and community. 🌐 𝗕𝗲𝘆𝗼𝗻𝗱 𝗢𝘂𝗿 𝗪𝗮𝗹𝗹𝘀 As we scale, our influence grows, allowing us to aid other organizations, teams, and individuals in adopting similar frameworks. It's a ripple effect: our success paves the way for others, creating a network of efficiency and growth. 🔗 𝗝𝗼𝗶𝗻 𝘁𝗵𝗲 𝗖𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻 How has structured decision-making impacted your organization's scale and community impact? Share your thoughts and discuss how we can collectively foster environments that grow businesses and contribute positively to our communities and industries. #Leadership #DecisionMaking #BusinessGrowth #Teamwork #PersonalDevelopment #ScalingSuccess

I'm probably not the first person to tell you that *purpose* is a cornerstone of effective business growth. Just as important, though, is unpacking the behaviors and processes that will help you realize that purpose. In this tumultuous landscape, everyone within the business needs to have a buy-in to the company's goals - but what this means for execution is collectively pushing for a higher standard. If you see a way to evolve a past practice to improve it - you must follow through, no matter how hard it can be to shed bad habits. By tying this into the company's purpose and how it will support it, your team should be able to see the direct connections between effort and results. #BusinessTransformation #CompanyCulture #Purpose #BusinessGrowth

As we approach 2024, business leaders are strategizing to steer their companies through the upcoming year. An essential technique for crafting a successful plan is a simple yet profound principle: "Be Honest With Yourself." The crux of effective goal-setting lies in realism. While it's tempting to transform every aspiration into a goal, translating these goals into tangible achievements is the real challenge. When preparing for the new year, embrace a realistic approach. Account for the demands of various roles that naturally consume your time and energy, and don't forget to schedule periods for recovery and relaxation. This deliberate planning will optimize your available work time and transform your goals into genuinely attainable milestones. 🚀📅💼 #GoalSetting #StrategicPlanning #RealisticGoals