Management
5 Year Planning
A long-term plan that captures the biggest macro goals a company wants to make sure it’s pursuing over the next five years (or so).
Learn 5 Year Planning with the Practica AI Coach
The Practica AI Coach helps you improve in 5 Year Planning by using your current work challenges as opportunities to improve. The AI Coach will ask you questions, instruct you on concepts and tactics, and give you feedback as you make progress.Curated Learning Resources
- To Grow Faster, Hit Pause — and Ask These Questions from Stripe’s COOClaire provides steps for how to be intentional about growth when your organization becomes larger: 1. Document your company's "operating principles" 2. Re-evaluate your org structure and recurring Meetings as you grow 3. Learn the qualities of your top-performing team members, and reinforce them in your hiring process 4. Provide a simple long-term vision / "5 year plan" to all team members, so they understand where you're trying to get to 5. Quantitatively measure employee experience 6. Empower decentralized decision-making via the "see one, do one, teach one" methodology
- Build a Three Year Vision PlanDavid provides a template for what a three year company vision plan might look like: • S.W.O.T. Analysis – Strengths, weaknesses, opportunities, and threats as they exist three years from now (e.g. strengths will change over time — what will they look like in three years?) • Product – Core modules and functionality, much like a simple roadmap for the product • Team – Outline all the departments, Job Titles, reporting structure, etc. (e.g. going from 10 people to 100 people is a major undertaking, and this exercise of going through all 100 positions is well worth it — see What Your First 100 Hires Will Look Like) • Metrics – Include things like annual recurring revenue, customer count, renewal rates, cost of customer acquisition, marketing qualified leads, sales qualified leads, etc. • Funding – Detail how many rounds of funding are required, dollar amounts, and any other pertinent information • Miscellaneous – Anything else that’s relevant to the three year vision of the business
Related Skills
- Crisis Leadership
- Motivating a Team
- Culture of Working Hard
- Intro to Managing People
- Intro to Executive Roles
- Operating Cadence
- Executive Presence
- Managing Promotion Readiness
- Executive Meetings
- Managing Managers
- General Manager Role
- Managing Executives
- Alignment
- Working with Executives
- Deadlines
- Accountability
- Managing Remotely
- OKRs
- One-On-One Meetings
- Decision Making
- COO Role Definition
- Firing
- Annual Planning
- Delegation
- Giving Feedback
- Performance Reviews
- User Manual to Me
- Chief of Staff
- Advisors
- CEO Role Definition
- Mentorship
- Leadership
- Management Offsite
- Vendor Selection
- Reorgs
- Team Charters
- Managing More Experienced People
- Quarterly Business Reviews
- Coaching
- Goal Setting