In business, we often find ourselves caught up in the now. There are always fires to fight, this month’s or quarter’s goals to hit, and today’s to do list. It can be awfully difficult to take a step back and think about 5-10 years from now, or even 3-5 years from now. Yet, if you want to build an enduring business that will pass the test of time and grow beyond your wildest dreams, you have to have an eye on the future, and McKinsey’s Three Horizon of Growth framework can help.
To get you going on the Three Horizons of Growth, download the free and editable Three Horizons of Growth PowerPoint Worksheet.
1. THREE HORIZONS OF GROWTH DIAGNOSTIC EXERCISE WORKSHEET
To create winning strategies, it is important to understand how each dimension of your business model will evolve over time. Use the worksheet to think through and document the mega-trends and major dynamics that will effect each business model dimension over horizon 1 (1-2 years), 2 (3-5 years) and 3 (5-10 years).
2. THREE HORIZONS OF GROWTH INITIATIVES EXERCISE WORKSHEET
Utilize the growth initiatives template to organize potential initiatives in Horizon 1, focusing on defending and expanding the core. Then, move onto potential initiatives for Horizon 2, focused on fostering new emerging businesses. Next, brainstorming initiatives for Horizon 3, focused on seeding new businesses.