Executive Summary: Business leaders can shape their own futures by taking a proactive approach to their strategic growth planning. For organizations to stay focused on their overall goal they must embrace a fundamental mindset shift as well as be people-focused and well aligned around the plan to get there. Along the way they will also need to carefully measure the results of their efforts, strive to ask good questions, and resist the temptation to hasten the process through oversimplification.

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A European study published in the Harvard Business Review on the future of work compiled extensive research from news articles and experts to make predictions around what progress and growth may look like over the next 50 years. As part of the research, the Belgian authors of the study sought input from tech entrepreneurs, economists, and authors/journalists. They discovered that these experts theorizing about what’s to come next fell into three buckets – optimists, skeptics, and pessimists. It’s no surprise that each of these groups had vastly different perspectives on what the future may hold, and yet amid their contrasting perspectives, the key takeaway from the article was this:

"The future will be whatever we make it. In our view, the scenarios pushed by optimists, skeptics, and pessimists are all theoretically possible. Questions like ‘will AI destroy a lot of jobs’ are thus misguided — whether AI destroys a lot of jobs or not will depend on the decisions made by people in the coming years. The question is thus not, ‘What will the future of work be like?’ but rather, ‘What do we want the future to be like?’"

It became clear that regardless of what people think may happen in the future, there is a strong element of personal agency that will shape the future far more than our speculations alone ever could. Our thoughts may not be self-fulfilling prophecies, but our actions do create outcomes. And the same principle is true on a smaller scale as well!

At the individual organization level, companies poised with a strategic plan will be able to shape their own future. So, the question your organization should be asking isn’t "What will the future hold for us?" but "What do we want the future to hold for us?"

Think about the last obstacle your company overcame. Now think about the last opportunity your company seized effectively. What do they have in common?

The answer could be any number of things really, but I would bet that one key similarity is how decision-making was approached in both scenarios.

Whether it’s making decisions to meet challenges or capitalizing on new prospects, asking the right questions plays an integral role – who you talk to, what you ask, how and when you ask, what the communication loop looks like as the topic is discussed, and what the outcome is after asking.

Questions play a vital role in every facet of an organization. Whether it’s marketing, sales, forecasting, finance, product research and development, operations, or overall strategic planning, questions are the cornerstone of running a successful business. Let’s discuss why and what you can do to improve your question asking to be a better leader!

The temptation to oversimplify their sales and marketing strategies has always been a trap for organizations looking to fast-track growth. However, the last few years have ushered in increased competition, added cost constraints, and intensified pressure to integrate technology, culminating in a whirlwind that has heightened the temptation to simplify regardless of the business impact.

I’m seeing this phenomenon more and more these days – organizations that want to use a one-size-fits-all approach to their strategic sales and marketing plans to try to improve their ROI. Unfortunately, this approach doesn’t simply fail to give them an advantage over their competition, it also fails to produce the results they are looking for at all. Quite the opposite, oversimplifying is a waste of precious organizational resources – time, talent, and money.

A recent Forbes article discussing how B2B buyers have changed over the last several years offered advice on how B2B sales tactics need to shift to pursue what it called “stealthy buyers and hidden influencers.” And while it gave an accurate assessment of what the B2B buying landscape currently looks like, it implied that relationship management may not be as important as it once was because the buying process is less one-on-one between buyers and sellers these days. To understand how the article’s author, Randy Illig, came to that conclusion, you need to first understand what has changed in B2B selling and how those changes have altered the buying relationship itself and the resources needed to support it.

With so much emphasis on big data and AI, today’s leadership conversations seem to be largely focused on metrics. And while B2B KPIs are certainly valuable to track and analyze, when organizations are facing challenges are they really the best indicator of what’s wrong and how to fix it?

The abundance of data available these days makes it tempting to rely solely (or at least primarily) on the data, but the most experienced leaders will tell you that data can’t necessarily tell the whole story, or the right story.

When it comes to diagnosing a problem or turning an organization around people are just as important as data because they can contribute:

• Institutional knowledge
• First-hand experience
• Insight into perceptions and attitudes
• Logic and reasoning

Let’s take a closer look at the benefit that human capital can provide when trying to overcome a challenge or understand and fix an issue to move an organization forward.

Take a moment to answer this question: How does your organization generate revenue?

(This isn’t a rhetorical exercise. Pause for a moment and actually do it!)

Once you have your answer, look at it and try to discern whether the answer you gave was related to methods you use to generate revenue (the how) or the strategic principles behind them (the why).

As a fractional CRO (Chief Revenue Officer) I frequently talk to business leaders who will discuss the ways that they generate revenue with statements like, “We sell through numerous channels to reach a wide market” or “We use reliable manufacturers to source all of our parts so we can get new products to market quickly” or “We provide extensive customization options so our customers can get exactly what they need.” And while these statements may be true, they miss the point of how their organizations are actually generating revenue. These are things that companies do – approaches they take, practices they use, or competitive advantages they rely on. However, they aren’t the true ways that those companies generate revenue …or at least they shouldn’t be!

Your revenue strategy should be more than just a collection of methods – it should be a set of principles.

While hiring a fractional Chief Revenue Officer (CRO) typically costs about 75% less than hiring an in-house CRO, it still requires a significant investment of time and money. However, the best fractional CROs have the skills, experience, and acumen needed to act as shrewd revenue advisors, helping their clients to achieve profitable revenue growth that is sustainable over the long-term, justifying their cost many times over. In fact, when the relationship is managed correctly, fractional CRO services can effectively align sales and marketing functions to generate significant revenue growth over both short-term and long-term planning horizons.

Of course, that begs the question, “How do I manage a fractional CRO partnership well?”

Have you done your annual planning yet? If not, don’t worry. There’s still time!

Typically, in companies where their fiscal year aligns with the calendar year, annual planning will begin in October for the year ahead. However, it’s certainly not unheard of to still be planning for the year ahead into Q1, or even later. Sure, if you get to the end of Q3 and don’t have a plan put together yet, it’s probably best to just move on and start planning for the following year! But otherwise, planning will still offer significant benefits even if you start it late. Going through the steps involved in the planning process is valuable in and of itself, independent of the actual plan you put together. All the different types of data you need to gather to create a plan will give insight into how well your company is performing and what the industry is looking like overall. This broader perspective is extremely valuable to have regardless of when you get the plan put together because it will equip you to make the ongoing tweaks and shifts needed now to be set up for success later. For these reasons, planning helps organizations run more smoothly and improves their ability to grow over time.

But how should leadership navigate the nuances of B2B business planning?