The orthodox way of doing business would be having a concrete business plan. This is the plan that you have to follow as you go along. But there are those who defy this. Successful businessmen profess they built their business without a business plan.
John Pyron is our guest for episode 40 on The Root of All Business. Learn How One-Page Strategic Plan Can Help You Achieve Business Objectives Faster. He formulated the One-page Strategic plan and realized it’s importance in today’s businesses.
He is an International Business & Sales Expert who trained people across 12 countries. His expertise in business and sales principles earned his moniker, “The Business Doctor.” He has helped his clients get clarity around their Vision and Mission. It also includes the Objectives, Strategies, and Action Plans. Through one-on-one coaching, consulting and mastermind his clients were able to achieve it. To ensure success, he then provides the accountability to follow through them.
The Genius of a One-Page Strategic Plan
A One-Page Strategic Plan provides the most concrete and specific Vision and Mission. Limited to 5-7 words. To come up with nine objectives in one sentence is a challenge. Given that all succeeding objectives should be in support to the ones prior. These objectives should be to be achievable and assessed every year. But the strategies to achieve these objectives should have at most nine words in a sentence. There is a quarterly measurement for these strategies. So it should include methods that are measurable. The action plan follows the same logic as the other two with a limit of nine words in a sentence. It is a step by step guidelines to follow and should be a monthly action plan.
In a single page, you can see all the essential parts that are pivotal in a strategic plan. Without scrimping on the details, you are creating a plan that is more realistic. Instead of sounding like you’re overselling, it shows confidence and finesse.
Aside from the reason stated above, there are certain things that a one-page strategic plan is able to do that a drawn-out document cannot.
You become more focused on your objectives
It is ideal to familiarize and commit yourself to your objectives when you’re building a business. It doesn’t matter if you’ve written it down in a 15-20 page or a one-page document. Without focus and commitment to your objectives, you’ll be groping in the dark. You can never know if your business is reaching success or not.
The one-page strategic plan cuts through the unnecessary details. But sometimes, the lengthier version of a strategic plan is also required. Especially when you’re looking for investors. While for a day to day basis, a one-page strategic plan would suffice. This is to make sure that every decision you’re making is working towards your objectives. It will work as an outline to your daily routine. At the same time, you can have a healthier work-life balance without compromise.
Accountability is more pronounced
Not everyone has a good memory. Unless you are some sort of a savant, it’s hard, some would say it’s impossible, to recall every detail written in 20 pages. Having a good memory is the goal and there are numerous ways to improve it. One way is decompressing information to the basest form one by one. After that, you’ll need to form connections between these individual pieces of information. By doing this, you’ll only have to remember one line of thought.
You are using the same method by limiting all essential information about your business to a single page. You simplify your vision, mission, objectives, strategies and action plan. By placing all these in one page, your brain can make connections between one thing to the other faster.
With memory comes accountability. This is because it is harder to be held accountable for the things that we do not remember. So the more you remember your strategic plan, the more you become accountable to it.
It can be used even by your employees
The beauty of the one-page strategic plan is that it is not only meant for the business owner to use. Pyron noted that employers should treat their employees as an owner. Employers should think of them as the owner of their area of expertise. And this can mindset is apparent by holding them accountable for their area of expertise. In doing so, employees get motivated to do their job even better. Because now, you have employees whose personal goal is to perform their job. In turn, by working towards their goal, they’re also working towards your objectives.
Achieve your business objectives faster with the help of a one-page strategic plan. It contains all the important stuff that a traditional 15-20 page plan has, but down scaled. So you now have an outline of the things you need to do this month using these strategies to reach a certain goal. The shortness of this plan also takes care of the common problem of accountability since it’s easier to remember, review and use.