To use a slingshot, you pull back on the band and launch an object. In other words, to go forward you first have to draw back a bit. Slingshot strategies reference this pulling back before launching forward.
But when you’re trying to move forward you need that extra push to achieve your objectives.
It can feel risky or counterintuitive to pause for a moment; to plan; to think; to build up the inertia you need to launch forward. But a sound slingshot strategy, even while pulling back initially, creates the forward momentum you need.
What Makes the Slingshot Strategy Work?
Working in 90-day sprints, you and your team create and implement a slingshot strategy to drive growth. This includes:
- Slingshot Planner: This is a strategic planning tool. You and your team develop the plan, set your objectives, and define the projects, milestones, and metrics it will achieve to hit your targets. You use the planner every week to manage progress, hold each other accountable, and stay on top of deliverables.
- Slingshot Scorecard: As Peter Drucker famously said, “What gets measured, gets managed.” A Slingshot Scorecard tracks key business drivers on a weekly or monthly basis to assess performance against the strategy. The scorecard considers both Lead and Lag Measures. Lead Measures provide a behavioral indicator of what will move your Lag Measures (results).
- Weekly Huddle: Strategy is a process, not an event. In weekly one-hour strategy sessions you and your team work on your company’s strategy. By doing this weekly you emphasize strategy execution — it’s in the work you do that results are achieved.
Holding the tools and process together, you work with Sticky Branding’s Brand Strategy Consultants: Jeremy and Sarah. We work with you and your team to know your business and guide your team every step of the way.
How Slingshot Strategies Empower Your Team
In the Slingshot Strategy, team members actively participate in developing and implementing the strategy. This isn’t a secretive off-site retreat. It is designed to unlock the creative genius of your team — at all levels — to develop and implement a strategy to grow your business.
The Slingshot Strategy immerses your team immediately. It harnesses your team’s expertise, creative thinking skills, and intrinsic motivation.
When to Start the Slingshot Strategy
The Slingshot Strategy is a dynamic strategic planning methodology. But we find the ideal is when the “stakes are high.” For example:
- Launch products or services
- Achieve aggressive growth targets
- Comeback from the pandemic stronger than ever
The methodology is incredibly flexible and dynamic. It’s been used to raise investor funding; sell the business; rebrand; and most recently to recover from the pandemic.
Jenn Scates, Vice President of Central Smith said, “It’s probably the most valuable time you get to work on your company, because you get to really learn who you are and what you do and your purpose and your why.”
Chris White, CEO of Fruitland Manufacturing said, “Sticky Branding has been instrumental in opening up a whole new awareness of how effective marketing can be. We’ve seen opportunities open up to us that we wouldn’t have seen otherwise.”
Does the Slingshot Strategy Peak Your Interest?
Awesome. Book a demo to see the Slingshot Strategy and what it can do for your business.