Having a strategic plan in place for your condo or HOA means that you’re planning for your community’s future. Every board must be not only prepared but able to shoulder whatever circumstances may arise.
Your community should have short-term and long-term strategies in place that will get you through as many best and worst-case scenarios as possible. With a solid plan that is easy to understand and execute, you will know your priorities and how to manage them all effectively.
A brilliant strategy has the added benefit of improving the overall wellbeing of your community. Not only will residents feel more safe and secure, but they will also rally around a united interest and goal (that is the preservation and wellbeing of their community).
A great strategy will also give insight into any shortcomings regarding how your building operates. It will provide an understanding of how residents of the community feel about their quality of life and how those leading their community are doing.
Action Steps To Take
Put together a vision and a mission statement
Your vision and mission statements are two essential documents that should serve as your community heartbeat and a marker for what you want to be long-term. Healthy communities have a vision because that communicates who you are, and it encourages residents and owners to rally around the community in solidarity.
Your vision statement must be clear and easy to understand. In your vision, you should outline what matters the most to residents and owners in your community. Share your values, goals, and what you believe in as a group.
On the other hand, your mission statement is where you share your motivations and your cause. Drafting your mission gives you a real opportunity to show some creative flair. Rather than being dry, try and make it unforgettable.
A great example of a catchy and unforgettable mission statement would be “To protect, preserve, provide, plan and prepare.”
Create SMART Goals
Your goals need to be decided upon and organized in a priority sequence, and they must be S.M.A.R.T. goals. Goals that are S.M.A.R.T are specific, measurable, achievable, relevant, and time-bound.
Write down your goals are and start to think about how long it will take to accomplish them. Be specific about your goals, and make sure that they are achievable within a reasonable time frame. Ask yourself whether these goals are relevant to your community because if they aren’t, they serve no purpose.
Share Your Vision and Mission Statements
A critical step to fulfilling your proposed vision and mission is sharing your plans with the people directly impacted by it. Residents and owners need to know what direction you will be taking their community, and they need to know how they will be a part of it. Share away!
Put Together A Budget
Creating a budget is part and parcel of having a vision and a mission. When you set out to do anything that will cost money, you must have an idea of how much you’re going to spend. You must sit down and get as detailed as possible about what everything will cost. Taking the time to develop a budget will show residents and owners that you are organized and can be trusted to act carefully.
Put Your Plan Into Action
A clear next step would be to put your plan into action. Begin to execute, launching an effort on the priority items that will take your immediate attention. Ensure that everyone knows what their job is; have a project manager oversee critical tasks and appoint board members to take on other necessary jobs that speak to their strengths.
Another crucial step involves checking-in on the status of your plans. Is your project manager doing an excellent job overseeing everything; are appointed board members doing their jobs properly? Undertaking a thorough check of your team’s action steps will ensure that your plans are successful.
Managing a Reoccuring Series of Events
If your board wants to prevent their best-laid plans from being dropped midway through the process, you must regularly regroup. The board must come together every quarter and every year to ensure that board members are still in agreement about the goals and visions they set out to achieve. Doing this will keep your plans fresh, effective, and impactful for the community.
Ensure that when you welcome new board members, you onboard them to the status of ongoing projects, the history of project completion and every critical issue. New board members must know that any work they do on behalf of the residents and owners will directly impact everyone.
A great way to keep new board members engaged and excited about strategic planning is to have a casual mixer, introducing more seasoned board members to new ones. Spend as much time as you need, away from your board room, communicating with each other. Talk about smart planning for the future and allow people to get creative. With so many voices on the board, it’s impossible not to come up with a great set of ideas to jumpstart your next plan of action.
One Last Thing
At the core of every strong board is excellent communication. To learn more about how to better communicate with your owners and residents, promote alignment and transparency in your condo and find out if the MAX TV Communication System is right for you, contact us today!