For an organization to be successful, a leader must learn how to get buy-in from its stakeholders.

This blog post will look at how leaders can successfully generate stakeholder buy-in for a new strategic plan. By bringing them on board with the organization's objective, goals, and strategic direction, you can ensure that everyone is on the same page and gain their support early on.

Don't forget: We also share regular insights about all things business strategy on our LinkedIn page.

ANTHONY'S PERSPECTIVE

Hi, it's Anthony here. I'm the CEO of SME Strategy. In this section of Leader's Digest, I'll give you my perspective on the topic at hand. I encourage you to watch my included video, which will go into more detail.

When it comes to running a successful organization, gaining buy-in for your strategy is critical. Strategic planning is a vital but infrequent process, and its ultimate value is determined by whether or not your stakeholders adopt and believe in it.

Why get buy-in? 

One of the most difficult aspects of your job as a leader is trying to implement a new strategic plan without the full backing of those needed to ensure its success.

If people are not invested in the strategic plan, it is hard for them to do the tasks they need to move it forward.

What does complete buy-in look like?

Full buy-in entails that there is- acceptance - accountability- alignment - agreement from all people involved in the plan.

How do you ensure there is complete organizational buy-in?

When you want your stakeholders and employees to be fully invested it is necessary to have clarity in all areas, including roles, expectations, communication, behaviors, and workload.

Final Takeaway:

As a leader, you must understand that, ultimately, it is their decision in order to get organizational-wide buy-in. You cannot achieve this by utilizing your position and influence alone. Use culture, planning, and cascading strategic plans to ensure that everyone is on the same page and that they are all aware of the requirements and expectations that are placed on them.

Click here to watch Anthony's Perspective

FURTHER INSIGHT

To gain a well-rounded perspective on how to successfully foster adoption of your plan, we recommend reviewing these pertinent articles.

• Why Employee Buy-In Is Important, And How It Sets Your Company Apart
  Employee buy-in can be the difference between success and obscurity for your company. Here's what it is and how to secure it with 6 leadership habits. 
  
  
• Engage to Win
  Engaging your stakeholders is critical for executive teams trying to transform their organizations for a more agile and flexible future.
  
  
• How to Get Ecosystem Buy-In
  Many firms operate in ecosystems with powerful, interrelated stakeholders, making a simple product or service development difficult. Here is a tool kit for assessing the way innovation will affect each stakeholder.
  
  

CONTRARIAN CORNER

In this segment of Leader's Digest, we highlight a new approach to dealing with the topic of discussion. This will identify alternative modern solutions for your consideration

Take a look at the following article, which presents a different take on establishing strategy buy-in across your organization.

• Buy-In: Just Don't Do It
  

  Instead of pushing your strategy on others, make manageable decisions. Buy-ins aren't ideal. Explain these decisions to your employees, who know their business function area better than you do, and ask them to make decisions within their sphere of responsibility.

LIGHTS, CAMERA, ACTION!

Here are some of our actionable tips that you can use now to begin to foster buy-in of your strategic plan across your key stakeholders.

• How to Generate Buy-In for Your Strategic Plan
  When developing your strategic plan, be sure to include your team in its creation — at least to a degree.
  
  

• 6 Steps to Make Your Strategic Plan Really Strategic
  Many strategic plans aren’t strategic, or even plans. To fix that, first, identify your key stakeholders.
  
  

• 5 Tips on Implementing Your Strategic Plan

  Adequate resources, management support, and sustained follow-up are crucial to success.

WEIGH IN

You're invited to become a part of the conversation.

Participate in this poll question:

At what point in your strategic planning process should you solicit stakeholder input in order to achieve complete strategic buy-in?

• When developing the strategy.
  
• When the plan has been created.
  

Click here to provide your answer and view the collective results.

SME STRATEGY NEWS

There's always a lot going on at SME Strategy. Here's a snapshot of recent and upcoming articles, events, and news.

RECENT STRATEGIC FACILITATIONS

SME Strategy has completed several successful in-person strategic alignment facilitations and stakeholder engagements over the past month. These include sessions in Dallas (IR Pros), Kansas City (WANRack), and Kelowna, BC (The BC Doctors of Optometry Association).

BOOKING INTO JANUARY 2023

If you are considering a strategic planning session for your organization, please reach out to us at your earliest convenience. Due to strong demand, we are now booking professional facilitations into January 2023.

Contact us by clicking here.

CELEBRATING OUR 200th PODCAST EPISODE

We're excited to announce that our Strategy and Leadership podcast recently recorded its 200th episode!

If you're looking for a free business podcast that will provide you with real life examples of how companies and managers are driving Strategy and Leadership in their organizations, then you're going to love this podcast.

Listen here