Value of the 3-Year Picture™
I was taught in graduate school and by multiple consultants that companies need a five-year strategic plan, and a 10-year plan would be even better. My teams and I spent hours envisioning our future in my previous companies. We created extraordinary visions for our company, conducted extensive market and economic research to project future sales and earnings. Each department used that information to write annual goals, marketing plans, sales plans, etc. And then we would create a 50-page bound document with graphs, in color of course, and charts and lots of information. You can probably guess what happened next – the strategic plan sat on a shelf and collected dust as our focus shifted to a busy business life.
Then I discovered EOS® and worked with an EOS Implementer™ who taught us a realistic, simplified approach to strategic planning known as the Vision/Traction Organizer™. One of the sections of the Vision/Traction Organizer™ is the 3-Year Picture™.
The value of a 3-Year Picture™ is that it creates a picture of what a company’s future may look like. EOS Implementers™ help Leadership Teams paint that picture. We have the Team select a date three short years from now, and add some detail to the picture – determine what the revenue, profit, and measurable will be in three years. We don’t need a detailed pro forma here; it really is the Leadership Team’s understanding of their company that allows them to identify the numbers.
And then the real fun starts. We ask each person to list what their company will “look like” in three years. They are not creating goals – they are painting a picture. So we see things such as 45 Right People/Right Seats; a second location; a fleet of 10 vehicles; providing service in two contiguous states – generally five to 15 bullet points. We list everything on a whiteboard and let them keep the items that make the most sense to everyone on the Leadership Team. Then I ask for some blind faith. I ask them to close their eyes and I read the 3-Year Picture™ to them. I ask them if they can see it, taste it, and do they want it. I usually see heads nod, smiles begin to form, and shoulders relax.
Now we have 100% agreement. And now we will achieve our future.
The Vision/Tracker Organizer™ is part of EOS’ Six Key Components™, specifically, the Vision Component. Successful entrepreneurs identify a Vision for their company and clearly communicate it, and the Vision/Tracker Organizer™ is the tool that makes that happen. It defines your marketing strategy and crystallizes your 10-year target, three-year picture and one-year plan.
If you’d like to learn more about EOS’ Six Key Components™, they are thoroughly explained in Gino Wickman’s book, called “Traction.” You can download chapter 1 of Traction here, which summarizes each Component and explains how they work together.
And if you’d like to dive in to the Components more, you can request a 15-minute phone consultation with me by filling out the form below. I am happy to answer your questions and educate you on the impact EOS® and forming a 3-Year Picture™ could have on your business.