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Inner-Banner
Blog
14
May
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Developing a Business Strategy Roadmap for Growth Post Covid-19

If you can remember a time before the pandemic, you might remember what it’s like to network, meet others in person, and have a marketing budget. But in the wake of Covid-19, our daily working lives have changed beyond recognition.

Even as we navigate our way out of lockdown, in the new world order, it’s clear that we must recalibrate and reassess our new business goals. This is why having a business growth strategy is essential, and it all starts with a roadmap.

The good news is that now is a great time to align business goals and priorities and set a clear strategy to communicate across the business. In doing so, you’ll also be offering stability and a plan for the future – essential for business growth and development.

Importantly, this roadmap should share your ambitions for growth and the goals required to get you there. It also provides an opportunity to explain business changes – be it leaner budgets, scaled back resources or other areas impacted by the pandemic.

But how can you ensure your strategy is set for success? Read on to find out more.

Developing your business roadmap

Your business roadmap template is the best way to illustrate your vision and ensure teams follow in the new direction. This can be achieved using the following four steps to guide you:

1. Engage across the business

The formula for success is ensuring all teams and departments are aligned and knowledgeable with the goals in place. The best way to achieve this is by getting cross-departmental input from the get-go. This way your business roadmap template becomes a collective agenda, affecting all parts of the business, and not just those considered an immediate priority.

This business plan should redefine your new vision in the most inclusive way possible. This means including strategic objectives, commercial metrics, and tangible goals to work towards.

2. Identifying priorities

For it to work, your roadmap needs to have real and practical goals. As a team, you need to review the new business environment and reflect this in your business model. This means defining your new priorities.

With a move to digital landscapes, this could mean investing in your online presence, or perhaps introducing artificial intelligence, or upgrading your booking systems. Whatever it might be, now is the time to reflect, revise and redevelop your objectives for your business growth strategy.

As already mentioned, gaining input from other team leaders will achieve a holistic approach. Additionally they should provide realistic timeframes, along with resourcing to help achieve this.

3. Assessing objectives

Before you commit to the plan, you need to review the measures proposed and understand the impact that each will have when it comes to business growth and development.

A popular strategy tool is the PIE scoring method, which stands for; potential, importance and ease, as follows:

  • Potential – does each goal have the potential to impact the overall commercial goals?
  • Importance – how valuable and important is this goal in achieving your overall strategy?
  • Ease – realistically, how easy is this goal to achieve? Will it be consuming and more effort than it’s worth?

Using the PIE method, you will be able to identify the most valuable initiatives for your organisation. This will help prioritise which are best to take forward in your business plan, along with the time, team and investment required to carry them out to success.

4. Share your vision

Once you have executed and committed to your business strategy roadmap, the final and most important step is to share your vision with the wider business.

Circulating it to teams, and hosting a business meeting or webinar for individuals to attend is a great way to set out your new strategy and introduce teams to it.

But, it doesn’t end there. As we have learnt in recent months, it’s important to be responsive and stay agile, responding to the ever-changing industry and pivoting or readjusting the plan along the way if necessary.

So it’s a good idea to set up a sprint review, perhaps quarterly, to reassess and review your business roadmap. This gives teams the opportunity to share their feedback, and make suggestions for improvement going forward. It is this constant back and forth that enables you to remain progressive and responsive to the market place, giving you a competitive advantage.

Summary

Getting back to the new normal in business will take time. But a robust and well considered roadmap is the starting point for growth. It will also help refocus your team on their new objectives, and give them the opportunity to be part of your new vision as a business.

These may be unchartered times, but with a solid business roadmap in place, you will be able to navigate the new normal with your team behind you.

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