{"id":7742,"date":"2024-01-28T07:00:00","date_gmt":"2024-01-28T13:00:00","guid":{"rendered":"https:\/\/ellevatedoutcomes.com\/?p=7742"},"modified":"2026-06-15T20:04:51","modified_gmt":"2026-06-15T20:04:51","slug":"what-is-an-annual-strategy-and-how-to-make-one","status":"publish","type":"post","link":"https:\/\/zudigitest.com\/ellevatedoutcomes\/what-is-an-annual-strategy-and-how-to-make-one\/","title":{"rendered":"What is an Annual Strategy? (and How to Make One)"},"content":{"rendered":"\n

Last week, I shared the insides of Ellevated Outcomes<\/a>: how we did against our 2023 strategy and our simple, to-the-point 2024 strategy. I often say that the word “strategy” is thrown about too flippantly. Everything is strategic-this or strategic-that. And on top of it, I offer: not many people know what strategy actually means. So today, I’d love to answer the question: What is <\/em>an annual strategy? And share step-by-step how you can make one for yourself this year.<\/p>\n\n\n\n

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First: here is my all-time favorite definition of strategy. And like anything I say that is smart-sounding, they’re not my words, ha! I first heard this definition when I was on the Global Strategy & Operations team in my former career, from my then-boss Jim Williamson<\/a>. He’d say:<\/p>\n\n\n\n

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Strategy is the allocation of scarce resources to the highest priorities.<\/p>\n<\/blockquote>\n\n\n\n

Pause and really let it sink in.<\/p>\n\n\n\n

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And I believe: there is no one with scarcer resources and more shiny objects trying to distract them, than creative small businesses. And therefore, the right structure<\/em>, helping one focus on their most imporant priorities, is a gift to the successful Small Business CEO<\/a>. Over the course of a year, a world of freedom and creativity will unlock, if you make (and execute, of course) an annual strategy. Here’s how…<\/p>\n\n\n\n

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Preparation<\/h2>\n\n\n\n

To begin, I have three important suggestions. I realize that they\u2019ll take some planning and coordination to pull off. But they\u2019re important and can be the key to some pretty masterful insights, so give them a shot:<\/p>\n\n\n\n

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  1. Take time “off” to do this work. Don\u2019t juggle your everyday work while you\u2019re planning your strategy. The point is to pull out of the weeds for a few days and see the business from a bird’s eye view (or a CEO view<\/a>, you might say). Staying in the minutiae clouds our creativity. If you need help with this, I happen to know of a great OOO template<\/a>\u2026 <\/li>\n\n\n\n
  2. Remove yourself from your normal environment. <\/a>If you can pull it off, a trip away is fantastic. Staying in a local Airbnb<\/a> for a few days is another great option. Or being most realistic for most people, you can get a day pass, for a few days to a co-working space. If you’re in Nashville or NYC, I can’t recommend The Malin<\/a> enough (I am literally in The Malin, as I type this! And it’s pictured throughout this post).<\/li>\n\n\n\n
  3. Take 3 days. You will be amazed at the vastness of work we can accomplish with focused time and space.<\/li>\n<\/ol>\n\n\n\n
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    Day 1: Update Your Future 3-Year Goals & Reflect on Last Year<\/h2>\n\n\n\n

    1. Do a personal check-in.<\/h3>\n\n\n\n

    I like to start with the personal side of things. After all, if you’ve started a business, chances are that part of your motivation was to live a certain way. Let\u2019s not lose sight of that! I used to be really into writing out my personal vision and goals (if you\u2019re interested in that path, Lululemon has a fantastic set of worksheets)<\/a>.<\/p>\n\n\n\n

    But lately, imagery has resonated more with me. You can cut out images from magazines, use Pinterest<\/a>, Canva, or a digital vision board<\/a>. <\/p>\n\n\n\n

    Then, move onto your business.<\/p>\n\n\n\n


    2. Revisit your business\u2019s     vision, mission<\/a>, and values<\/a>.<\/h3>\n\n\n\n

    Does anything need to be refreshed or tightened up? Which of your language resonates with people, internally and externally? What are examples from the past year where your company really lived out its mission and values? When did it fall a bit short? Over the past year, did you move closer to \u2013 or further away from \u2013 your lofty vision?<\/p>\n\n\n\n


    3. Temperature-check your current reality.<\/h3>\n\n\n\n

    E-Myth<\/a> has some great tools to help you pinpoint how you\u2019re working day-to-day, and find areas for improvement. A couple sample questions to answer:<\/p>\n\n\n\n