These tips appeared on Brian Tracy's blog.
Define the plan with the team and company's long-term strategic goals in mind
The plan you want to present to your team should align with the long-term direction and priorities of both team and company. In no way should it deviate from the direction in which your team is heading, nor should it be some unexpected or shocking new goal that hits your subordinates out of the blue.
Define the goal in concrete, objectively measurable terms
Every goal should be objectively measurable. It has to be quite clearly defined and easy to understand. And, above all, it should be clear whether or not the team has achieved the goal. Therefore, you must define your plan using measurable, specific criteria.
Involve team members in preparation of the plan
Some managers make the mistake of preparing their team goals in the background, then presenting their plan with great fanfare. However, any plan for the team (and this especially applies to long-term goals) should be thoroughly discussed with team members beforehand, and based on data and feedback they have provided to the manager.
Break the goal down into smaller, achievable landmarks
Any plan, especially an ambitious one, should be broken down into smaller, more easily achievable landmarks. If you present your vision to the team, but do not add landmarks in achieving it, you may well face misunderstandings and unnecessary worries.
Monitor progress continuously and address any deviations and issues immediately
Once you have launched your plan, you need to monitor closely the progress of the entire process and continuously find out how your team is doing. If necessary, you should address any deviations and issues immediately before they fundamentally disrupt the planned process.
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