What is a One Page Plan?
A One Page Plan is probably one of the simplest but most effective ways to manage your business. It is exactly as the name suggests, a plan that fits onto one single page. But let me explain further, as this one page can help you manage your business more effectively than you have done before.
The plan starts at the bottom of the page and works upwards. Beginning with your mission, vision and or goals. This information in turn determines the key areas in which the business will have to excel in order to achieve its goals.
Next comes the key factors (Success Drivers) that directly drive the business’s sales, costs and cash flow. And finally there are the key results that have been generated by all the underlying drivers.
I know it sounds complicated, but in the image below you can get a good idea of what I’m explaining.
The plan maps out all the key factors behind the business’s success and highlights the link between goals, success drivers and eventual key results.
Using this plan ensures that your business has an early warning system. You can easily spot when and where you need to take action if something goes wrong.
3 benefits of using a One Page Plan
- Everybody in your business can easily understand the plan and understand what goals the business is aiming for.
- Easy to update on a monthly basis, making it relevant and useful for management to use in decision making.
- It’s easy to post on your noticeboards so that everybody in your business knows exactly what the business is trying to achieve and how far off or close to achieving the goals they are. This encourages your team to work towards one defined goal.
Here’s how to create a One Page Plan
Mission Statement Box
Start by summarising your business goals into a couple of concise and inspiring sentences. Copy these into the relevant section on the plan.
Underlying Success Drivers, Sales Drivers and Cash and Cost Drivers Boxes
Start by identifying the key drivers that are relevant to your business and add them to each of these boxes. You can see some examples of these on the downloadable example.
Key Results Box
Identify a small number of key result areas, two or three and a maximum of 4. In addition, to one or two standard financial measures, eg: turnover, profit, cash, ROCE etc, it makes sense to include one or two non-financial measures that focus on the broader business picture.
Finally, add the strategic actions that the management intend to take to help the business achieve and exceed its targets against each of the success drivers.
As you can see, a One Page Plan is a great (and simple) tool to use to manage your business. Do get in touch with us if you would like us to prepare one for you.