From strategy to action

It’s the time of the year at COOK when we focus on turning strategy into concrete plans and budgets for the next financial year.
It’s always a challenging and iterative task.

We’ve got a clear process that’s delivered great progress - reliable compound growth in profit and ebitda over 15-odd years.

At the same time, we’re always learning and evolving our approach, seeking to make it more clear and actionable for everyone in the business.

A few personal lessons / watch-outs gleaned over the years:

💥 Too many things on the list. People think a short list = a lack of ambition. In fact, a short list = clarity and focus on what really matters. Get the list of headlines so short it makes you wince. Then cut til it makes you yelp.

🔥 Too many things on the list 2. Don’t feel every team/dept needs to be featured. It doesn’t mean they don’t matter/aren’t doing important work. But this year, big steps forward in their area aren’t the priority.

🍜 Blend of BAU and project work: headline projects are essential to move the business forward. Yet “the business” is about day-to-day excellence. Maintaining this balance/tension is essential. Getting it right in terms of measures / comms is tough.

✍ Including great ideas that don’t have concrete plans in place. Just because it sounds good doesn’t give it a right to be there. Commit now - and put a real measure in - or take it off.

🤝 Resources not properly aligned, which is often about timing and workload. Everybody needs to hold hands and commit to cross-team projects.

🙋 Clear ownership. Obvious. But every headline needs an owner.

❤️ Only prioritising based on ££. The measure of success or importance can be non-financial. So long as there’s a measure we can use to say - yes, we did it (or not).

Anything resonate?
Any learnings to share?

Would love to know.