For this episode of our Strategy and Leadership Podcast, we were joined by Carey Rome, the CEO of Cypress Resources. Referring to himself as a “recovering CPA” , Carey started his career in accounting, and eventually moved into other areas of business, leading to positions as CFO, COO, and now CEO. Throughout his various roles, Carey has developed a wide understanding of business operations and a passion for strategy development.
During our conversation, Carey shared his insights on how leaders and teams can better set themselves up for success after developing their strategic plan:
- In order to successfully implement a strategic plan, leaders should make sure that objectives and priorities are assigned an owner who is responsible for the associated actions and results and goals. Within each of these areas, goals can cascade throughout their functional areas of the business.
- Assigning project owners for each area helps so that each project or initiative is tied to the long-term organizational and strategic plan success while at the same time making sure that the details and quarterly deliverables are met.
- Leaders can coach these project owners by preparing them for meetings where they will ask them three questions: What has changed, how are timelines impacted, and what do you need? Through preparing for and having this conversation, project owners can be proactive in finding solutions for their problems, while executives and leaders can coach them on making an informed decision.
- When monitoring the success of a strategic plan, it should be reviewed in 90-day “sprints”. This reflects a balance between long-term goals, and short term results that need to be achieved and helps teams to break down each main objective into sequential tasks to finish in the 90-day timeframe.
