Boardwave hosted its first event of the year at Home House, London. The oversubscribed breakfast was a testament to Boardwave's ethos, with over 50 of our members coming together to share insights and forge meaningful connections.
And what better way to kick off a new year than with a morning of detailed goal-setting and strategy planning? The unprecedented attendance demonstrated how much value our community places on growth and learning, with the core purpose being a deep dive into the success of Salesforce's V2MOM model, a simple but incredibly useful framework for setting and achieving business goals.
As Boardwave Founder Phill Robinson explained, “A company’s vision cannot just be set by the CEO. It has to be actionable day-to-day for employees, be reviewed collaboratively and regularly, and give everyone a common purpose.”
While numerous strategic planning tools exist in the business world, the V2MOM model stands out. Developed by Salesforce founder, Marc Benioff, V2MOM isn't just a theoretical concept but a practiced tool, demonstrated by its implementation from the company's start right through to still being used today across Salesforce’s entire global workforce of 70,000 employees.
The result is that the value of using the V2MOM to set out a company's vision applies just as much to a fledgling startup as it does to a more established business. In both cases it provides a clear vision and framework that helps to galvanise the whole team as it enters a new phase of growth. And this has not gone unnoticed, with a multitude of other successful companies adopting the V2MOM method too, which is further testament to its practicality and impact in driving organisational success.
So how does it work and how best to go about creating your own V2MOM? After Phill's insightful introduction, attendees at the event worked in groups to make a start on developing their own V2MOM models, all led by fantastic moderators Nick Black, William Alexander, Jose-Luiz Moura and James Bennet, who we’d like to thank for giving their time, wealth of experience and advice.
But why is having a short, simple and clear strategy such a key requirement for success? As Phill went on to outline, if you position the V2MOM model to sit at the heart of everything a company does, “as a consequence, employees know exactly what they are doing and exactly how they fit into the company. Afterall: tactics dictate strategy.”
The Heart of the Matter: Understanding V2MOM
For those of you who weren’t able to join us, below, we break down exactly how the V2MOM model works and how you can deploy it in your own organisation. You can also download our toolkit here.
V2MOM, an acronym for Vision, Values, Methods, Obstacles, and Measures, is a strategic planning tool devised by Salesforce. It's designed to help businesses of all sizes clarify their objectives and streamline their path to success.
1. Vision: Charting the Course
The first step in the V2MOM model is defining your company's vision. This vision should be a clear and concise statement of around 1-3 sentences, that outlines what your business aims to achieve. It sets the direction and serves as the guiding star for all future endeavours.
2. Values: The Guiding Principles
Values represent the principles and beliefs that are crucial to your business. These values should align with your vision and act as a framework for decision-making, ensuring that every action taken is in sync with what your company stands for. Try to think of 3 core words or phrases and then, if necessary, add 1-2 lines of detail explaining them.
3. Methods: The Roadmap to Success
Methods are the specific actions and strategies that will be used to achieve the vision. This involves outlining detailed plans, assigning responsibilities, and setting timelines. It's about converting the 'what' of your vision into the 'how' of practical steps.
4. Obstacles: Anticipating Challenges
Identifying potential obstacles in advance is crucial for any plan. The V2MOM model encourages a proactive approach to problem-solving by recognizing and planning for challenges that may arise along the path to achieving your vision.
5. Measures: Tracking Progress
Finally, measures are the metrics and milestones used to track the progress of your methods towards your overall vision. These should be quantifiable, allowing for regular assessment and adjustment of strategies as needed.
Applying V2MOM in Your Business
Implementing the V2MOM model in your business requires a thoughtful approach. Start by involving your team in the process to ensure alignment and buy-in. Encourage open discussion and brainstorming sessions to define each component of the V2MOM. Regularly review and update your V2MOM to reflect any changes in your business environment or objectives. This should take place at least every 18 months, if not more regularly, depending on the size of your business.
The V2MOM model is more than just a tool; it's a mindset that empowers businesses to achieve clarity and focus. As highlighted by Boardwave’s event, adopting this framework can lead to significant improvements in strategic planning and execution. We encourage you to explore how V2MOM can be tailored to your business's unique needs and aspirations.
Download our V2MOM toolkits here.
Have you used the V2MOM model in your business? Share your experiences and tips in the comments below.
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