Business One Page Plan
Growing your business in a tough economic climate requires focus and good business habits. The Business One Page Plan is the business tool that sets remarkable businesses apart from the rest.
The business one page plan brings together the vision, critical success factors, sales and marketing predictive KPIs and the usual cost, cash and financial KPIs on to one page.
The business one page plan not only brings the critical key predictive indicators together into one place, into one system; it prompts you to keep them up to date. It helps you develop new, good business habits that will enable you and your company to become remarkable; delivering remarkable growth and achieving remarkable profits.
One other key point to BOPP is that it focuses KPI’s as predictive indicators not performance indicators. This may seem a case of semantics but in actual fact it is changing the mindset of the business owner to focus on the things that will give them more control over their business results because they are focusing on the things that actually drive the results ( the future) not purely measuring the results( the past) themselves. They are predicting what will happen in their business.
The business one page plan is about helping you keep score of where you are with your business. It’s about measuring what’s important. Like an athlete it is about getting you into good habits that mean that you are able to drive your business forward.
So what does this mean in practice?
The business one page plan is an online system facilitated by
either your accountant or business coach.
The first stage is to agree your vision, both personal and for the
business. These become the foundation to the plan.
The second stage is to decide on your success factors. These are sometimes called critical success factors and essentially they are those things that you really have to get right to be successful. For example, for a retail shop it is foot fall as the higher the foot fall the higher the sales and subsequently the higher the profits. A web-based business might be web site visitors. For a construction company it might be tenders won. For a manufacturing company it might be delivery performance.
Once you know what you have really got to get right and which predicts future success then you need to work out which sales and marketing KPIs will predict sales success. This could be enquiries received, quotations won,mail shots done. Every business is different and so yours are likely to be different from
Cost control and cash management are key activities in any business and so the next element of the business one page plan is to define those cost and cash KPIs that are critical to the success of the business and give early signs of trouble. Sales per employee is key for many businesses as a key cost KPI. Debtors
days is a key predictive indicator in many businesses for managing cash flow (i.e. if you don’t get your cash in on time then you will suffer cash flow problems later.)
Finally at the top of the page comes the usual financial KPIs of net profit, turnover and any other KPIs that are critical to measuring the past performance of the business. For example, EBITDA is often used by the banks to measure the performance of a business and could be part of the covenants that a bank has in place with you.
Although the business one page plan is a web-based system, to use it successfully it requires a facilitator to help you decide what are the best indicators for your business, to give you accountability, and to help you develop good business habits.
Normally, this is done through quarterly half day meetings. If you are based in the North West, UK and would like to see what the business one page plan can do for your business then call 0845 053 7417 or email firstname.lastname@example.org to arrange a 90 minute meeting at your premises.