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#ScaleItUpIn2023: Why Should You Write a Leadership Memo, Now!
As we move towards 2023, it’s time that we start gearing up for it.
As leaders, year closure can be a daunting task. There are projects that need to be completed, targets that have to be met, decisions that have to be taken and teams to be aligned for the upcoming year. So in the next few newsletters, I will try to share some of my thoughts and experiences on how to strategize for the coming year and scale it up!
First on my list is a leadership memo. Whether it is a short document or a detailed email, a leadership memo goes a long way. It helps align teams and team members while ensuring that the doc binds people together. It makes them aware of the past while informing them about what’s to come next.
A leadership memo usually has the following components:
It sets a vision for the future
It takes in learnings from the past
It establishes the company goals and talks about the levers that the company can pull to achieve these goals
It establishes metrics that the company is chasing
It could also set guardrails for what not to do
Benefits of Writing a Leadership Memo
Contrary to popular belief, a leadership memo is meant for companies of all scales and sizes. Year end is a time when most fast growing companies pull different levers to close the year on a higher note. At the same time, large companies take it as an opportunity to optimize products and services from a long term growth perspective. A leadership memo can definitely come in handy at both these stages.
Here are some benefits of writing a memo:
Drive Team Alignment: A written word from leadership helps in alignment toward company goals. When people know the future course of action for the organization, they are able to better align themself to the company’s vision.
Create Accountability: A written memo creates two way accountability for the author, i.e. the leadership, as well as the recipient which is the company at large. In fact, this is more relevant in a fast growing companies where the leadership often needs to pivot to scale or even stay relevant
Provides Check Points: The leadership memo acts as a living and breathing alignment document for the company. Not only does it serve as the bedrock for teams to go back to align and realign themselves but it also helps to put relevant checkpoints and milestones throughout the year for the company (and employees) to evaluate the progress.
In fact, I believe that every leader should write a leadership memo. It’s not just for the CEOs or other CXOs. If you manage a team or have people working in close collaboration with you, then writing a memo will help in aligning them with your vision and overall vision of the company.
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