If you are like many company leaders, you may be skeptical about working on your business strategy and developing strategic plans. I think the skepticism comes from the voluminous plans that have been developed by some of the very large consulting firms, no disrespect intended, or from the training our resident MBA received. We have all heard the stories or lived the tale ourselves of having a plan, which resembles the size of a bible, sitting on a shelf only to collect dust or satisfy our shareholders.
The intent is good: go deep and put every piece of corporate knowledge, research and aspirations in one place to guide us to growth. The only problem is that there is too much information and the real priorities get lost in the noise.
The One Page Strategic Plan (OPSP) provides a framework to put all of the essential information to guide our team in one place, which is easily accessed and acted upon. It forces the leadership team to be succinct and clear to develop a plan that can be understood and executed effectively.
The key components of the plan are:
- Core Values & Beliefs
- Core Competencies
- Actions to live Values, Purpose & BHAG
- 3-5 year Targets
- Key Thrusts/Capabilities
- Brand Promise & KPI’s
- 1 Year goals
- 1 Year Key Initiatives
- Critical Numbers
This information makes up the left hand side of the plan while the right side of the page is used for Quarterly Planning.
The result is a plan that is easy to use and that pulls out the necessary information to drive a successful year and quarter. In fact, most leadership teams that use this format keep the plan in front of them on a daily basis, either on the wall, or sitting on their desk. The plan is also used in weekly meetings to monitor progress on how the initiatives for the year and quarter are progressing.
So what kind of plan is on your wall or bookshelf? I encourage you to challenge your traditional plan development methodology and take a look at the One Page Strategic Plan Template.
Happy planning and let me know if you need any help. Alan