Step 1: Vision & Long-Term Goals #
The first step in the annual planning process is defining your Vision & Long-Term Goals.
In Propel, this step primarily takes place in the Foundation and Strategy tabs of the Plan module. If your company uses Enterprise Value, you will also want to revisit the Value tab during this process.
Define Your Foundation #
Navigate to Plan → Foundation.
The Foundation tab is where you document your organization’s:
- Vision
- Mission
- Values
To make changes, click Edit, enter or update your information, and click Save.
Be sure to save your work before navigating away. If you attempt to leave the page with unsaved changes, Propel will warn you that your changes may be lost.
Review Share Permissions #
While you’re in the Foundation tab, take a moment to review the Share permissions at the top of the page.
These settings determine which members of your team have access to the different sections of your Plan.
Each column within the Share settings corresponds to a tab in the Plan module. This allows you to control access to different parts of your strategic plan based on the individual user.
For additional instructions, see the Plan Share Permissions support video.
Establish Your Long-Term Goals #
Next, navigate to Plan → Strategy and locate the BHAG section.
A BHAG — Big Hairy Audacious Goal — represents a significant long-term outcome your organization wants to achieve.
You can establish more than one BHAG.
To add or update your long-term goals:
- Click Edit.
- Enter your BHAGs.
- Establish the year you are working toward.
- Click Save.
These goals provide the long-term destination that will guide the remaining steps of your annual planning process.
Revisit Your Enterprise Value Goal #
If your company has access to the Value tab, this is also a good time to review it.
Your Value tab allows you to establish a long-term goal for what you want your business to be worth and the year in which you want to achieve that value.
It also provides a long-term path toward that goal based on your revenue and profit multiples.
Your desired Enterprise Value may become one of your BHAGs.
For example, if your long-term goal is to build a business worth $20 million, you may choose to establish reaching a $20 million Enterprise Value as one of the BHAGs within your Strategy.
Additional support for Enterprise Value and the Value Drivers is available within the Plan section of the Support Desk and through the Enterprise Value courses in the Learning Center.
Completing Step 1 #
You have completed Step 1: Vision & Long-Term Goals once you have:
- Documented or revisited your vision, mission, and values.
- Reviewed the appropriate Plan sharing permissions.
- Established your BHAG year.
- Defined one or more long-term BHAGs.
- Reviewed your desired Enterprise Value, if applicable.
- Considered whether your Enterprise Value goal should be included as one of your BHAGs.
With your long-term destination established, you’re ready to move to Step 2: Annual Macro Goals, where you’ll begin identifying the milestones and targets required to move from where the business is today toward its BHAG.