This is a Interesting Tweet by Jesse Pujji. Jessi a serial entrepreneur that lives in the US. He has:
– Bootstrapped to an 8-figure exist with his previous startup, Ampush
– Is currently building GatewayX, a venture studio that he plans to bootstrap to $1B+
– Executive Chairman & Founder of GrowthAssistant.com
– ex-McKinsey Consultant
Guest Author: Jesse Pujji
93% of you will make 2024 plans that fail.
You & your team will beat yourselves up for it…just like last year.
A few years ago, I had enough.
I was done with making useless annual plans. And I thought I found a better way:
1) Build a quick financial model
2) Talk about the priorities
3) Just move along Sound familiar? This never worked.
We even tried implementing OKRs, but it was highly administrative and hated by all.
So I came up with a better way…
A 5-step annual planning framework that all my companies now use.
Here it is:
1) Set your DFS (Desired Future State) and CR (Current Reality)
This is your chance to dream up and build your vision.
HAVE FUN, dream and enjoy this part! Most entrepreneurs love this.
2) What goals (Rocks, initiatives, objectives, etc) will get you there?
What do you need to accomplish specifically to go from today to the future you desire? Nailing these goals is critical because they are the crux of your plan.
3) Prioritize w/ ICE (Impact, Confidence and Ease)
Rate each potential initiative on a scale of 1 to 10, where 10 means the initiative has the most impact
4) Create a financial plan & projection
This is a detailed forward looking “forecast” for your business.
It includes revenue drivers, cost buckets all the way to free cash flow
5) Make your investment decisions
For each initiative ask simple questions like, “Where do I want to double down?”
“Where do I want to keep it the same?”
“What do I want to cut?”
“Which hires do I make and when?”
and “What should I spend on and when?”
Yes, this is a lot, but you don’t need to start from scratch. I’ve spent 15+ yrs perfecting templates for each of these steps.
They’ve helped me:
+ Grow and sell @ampush for mid 8-figs
+ Build a $1B venture studio
+ Scale scores of startups as an angel …& now, I’m open sourcing them!
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Check out the original tweet here
Avoid the 93% annual plan failure rate with this 5-step framework
