Here's how strategic planning usually works: Early on, many workshops are held. Then, a framework is created, followed by the development of a strategic direction, and finally an action plan. A bit further down the road, organizational initiatives are implemented, then measured.

This process can take months, and as time passes, the organization and world evolves. The foundation of the plan, if solid, remains intact, but for an organization to thrive, strategic planning must continue, even though some of the initiatives created through this process are still in their infancy. For many associations, this analysis can take the form of thoughtfully revisiting parts of the plan that may be affected by unforeseen changes or new information.

The strategic planning journey of our association, the Million Dollar Round Table, looked something like this. In 2013, the leadership of MDRT, a global organization serving more than 62,000 financial services professionals in 69 nations and territories, enlisted the help of a consulting firm to assist us in developing a strategy to better serve our diverse membership. While growth is important for any organization, our executive committee developed the plan with an eye toward creating a more personalized MDRT experience for our members.

Research had shown that MDRT members were, and still are, highly satisfied with the value they derive from their membership, but we wanted to ensure we retain them in the long run by focusing on enhancing our value proposition and increasing member engagement. Simply put, we chase value and engagement, not membership numbers and money. In addition, as we grow globally, we wanted to make sure MDRT is thoughtfully and effectively engaging members at a variety of career stages and in a diverse range of markets.

The following are some key milestones that enabled MDRT to create a plan that ultimately resulted in more value for our members.

Successfully implementing a strategic plan requires a staff structure and culture that support your organizational goals.

Creating the Framework

To lay the foundation for our plan, our executive committee and staff identified the immutable insights, principles, and goals that would be critical to making sound organizational decisions. Over the course of several workshops, we developed a framework, which consisted of:

• A set of first principles that unite members from around the world and act as a lens to review strategic decisions. For example, one of our principles is organizational independence, which reminds us that our decisions should not be influenced by any outside entity or stakeholder.
• A set of goals, stated in MDRT's charter. The six statements of the charter articulate the plan's broad goals and provide guidance for how to execute MDRT's vision. The goals, such as "promoting success and achievement" and "connecting people and ideas," are helpful to review when we develop new or improved membership resources.
• An engagement model that demonstrates the ways in which members participate in MDRT. For instance, some members join to attend our meetings, while others are interested in online content. Upon developing this model, our executive committee decided to focus its strategic efforts on enhancing MDRT's brand and resources because they offer the best opportunity to engage the greatest number of members.

After developing the framework, MDRT undertook extensive quantitative and qualitative research to better understand the diverse needs of our global membership, volunteer leadership, and staff. This research, along with the vision and broad goals we had established, helped us create our seven "global platforms." The platforms, which include "celebrating achievement" and "network connectivity," are areas of focus for delivering more value to members and other key audiences.

Putting a Plan in Place

Our global platforms served as a roadmap for developing more than 100 initiatives intended to enhance MDRT's value proposition. They include new resources, programs, and services designed to meet the diverse needs of our members around the world. These initiatives were reviewed to ensure that they aligned with the strategic plan and that data supported the need. We've implemented these offerings over the course of several years based on established timelines.

Many initiatives, such as a new website and a more robust content curation and delivery strategy, directly affect our members. Others enable us to serve them better. For example, this year we implemented a new association management system that gives us the ability to better track members' areas of interest so we can tailor resources to their needs.

Successfully implementing a strategic plan requires a staff structure and culture that support your organizational goals. MDRT set up the organization for success by reorganizing our staff structure and enhancing our culture before the strategic process began. In 2012, our staff collectively recommended and adopted a set of core values. Then, we appointed internal task forces to give our staff an opportunity to recommend ways to take ownership in creating the kind of culture we all wanted.

Improvements to our internal processes and procedures have greatly improved innovation, collaboration, and communication at MDRT. As a result, staff were well positioned to participate in the strategic planning process and implement the plan.

Tracking, Measuring, and Planning Again

Establishing an internal process for tracking and measuring your plan will ensure that initiatives are carried out and determine how successful they are. Our strategic plan included measurable success criteria for all initiatives. Membership data, as well as anecdotal feedback, have provided direction as to whether we continue, enhance, or discontinue initiatives. Engagement surveys at specific points in the process have also been key in helping us determine whether we are still on the right track.

In addition, MDRT has a staff member dedicated to managing the strategic planning process and tracking implementation. She works with departments responsible for initiatives to monitor progress and report results to staff and leadership.

It is important to view your strategy as a roadmap that will be continually reviewed and refined to guide future leadership and meet the needs of an ever-evolving membership. Outside factors, including economic, political, social, and industry-specific forces, could require adjustments to the plan.

MDRT is currently in a second phase of strategic planning, as we consider how to best serve specific markets, given our growing membership and changes in the financial services industry. For example, regulatory changes in some markets have required a shift in the type of content we provide to those audiences.

We have learned that flexibility and staying up to date on factors that could have an impact on the plan is key to maintaining its relevance. While our strategic direction may change, our commitment to using the plan as a tool to guide MDRT into the future will not.