Michael Gridley is entrepreneur. Always looking for better ways. I often save his blog posts to refer to. This post had great simple tips on assessing effectiveness of any plan.
An original plan is always a guess, per Michael. Yet, how often we get fixated on “the plan.”
Plans are meant to be flexible. Leaders stay coachable based on what is happening with the plan. When to make changes.
Michael suggests starting with small ideas (he calls them bets). Learn quickly from them. Your plan should be formulated from results of your small ideas. This has been basis for many of his 12 successful ventures.
A successful plan builds from the parts. It rarely is well thought out in advance. Just to many moving parts.
Michael quoted from Saras Sarasvathy. She laid out 5 principles she refers to as Effectuation. Think about that term. Really explains what planning should be. The effect based on the unfolding situation.
The 5 principles:
Bird in Hand. Start with the things you have available to you. Your knowledge, skills and network.
Affordable Loss As Michael pointed out: “Make small bets.” Bets you can afford to lose without major consequences. A Chef may want to introduce a new menu item at lunch first. Based on reaction, move it up to Dinner special and eventually to the menu…or not.
Lemonade Nope she’s not talking about making lemonade from lemons. She uses mistakes or things that don’t work as data. Use them to redirect your efforts. Mistakes are learning tools.
Crazy Quilt Her quilt is her team. She wants people whose skills complement each other. Team members who have something to lose if your Plan bombs. Or just does not live up to expectations. Be sure team has vested interest in the plans success.
Pilot in the plane. Saras focuses on what you can control. Let the Plan build the future instead of predicting the future.
Start with small steps. Learn and adapt quickly. Use what happens initially to modify, even change direction.
Start today. Reassess your current plans. Make small changes. Treat any setbacks as data. Evaluate your team. Any changes needed?
Changes can be as simple as flip-flopping assignments between team members. Look at juggling assignments before changing out team members. Changing assignments can energize your team. Changing out team members can energize a team, but they can also demotivate.
You can find Michael at Akkadian Ventures, a venture capital company. He has excellent free blog. Reach him through [email protected] Michael has formed and built12 companies.
Tom Ferree is the founder of Ferree & Associates and SecureEmploy, organizations focused on helping companies find exceptional talent and helping professionals advance their careers. Since founding Ferree & Associates in 1977, Tom has worked extensively with hospitality companies, executives, and rising leaders across the industry. Through SecureEmploy, he shares practical career strategies, leadership insights, and real-world advice to help professionals grow their careers and help organizations build stronger teams.
