Strategic Planning using 1PSP

From: Peter
Sent on: Wednesday, May 15, 2013 3:15 AM

Our Speaker for Thurs 02 May 13 at our Entrepreneur Meetup was Bill Alexander – a Business Consultant – who discussed, using the One-Page Strategic Plan (1PSP) as a Planning Tool. This tool can be used by any business owner at any stage of business from a start-up to even a mature business contemplating an exit.  [Edited by Peter/ Organizer of this Entrepreneur Meetup]

One-Page Strategic Plan (1PSP) is very useful as it covers all the questions that should be answered for a business and presents the answers on a template in a concise form that can be used to communicate the company’s Vision, long term Strategic plans to assign the highest priority activities. By going through the planning process and completing the 1PSP, the business owner develops clarity about his business and develops a strategy to take it to where he wants to go. By writing down these plans and activities, the business owner creates a plan that makes it easy to communicate his Vision and direction for the business and gets others on-board with his objectives so that he is much more likely to be successful and achieve his goals.

Mastering the Rockefeller Habits” (by Verne Harnish) is what this 1PSP tool is based on. “The book provides many good examples of how companies use 1PSP and how it has helped them to be successful. The 1PSP covers the following topics for a business owner:-

  • Strengths, Weaknesses, Opportunities & Threats (SWOT)
  • Purpose of your Org - Mission
  • Big Hairy Audacious Goals (BHAGs)
  • Brand Promise
  • Elevator Speech
  • Goals & Targets
  • Key Performance Indicators
  • Actions to take

Format of 1PSP Template offers subjects that should be addressed to determine: what you stand for – Core Values, where you want to go – Vision, what you’re going for – Goals and how to get there – Actions. This template can be modified & customized by the business owner to suit his particular purpose & business. The completed 1PSP Template will enable: a) Vision & Direction for the company that everyone can understand and work to, b) improved communication & c) focus for maximum productivity. Each quarter, everyone can look at whether they have achieved their last quarter’s goals and set the goals for the new quarter. In that way the 1PSP becomes the driver for the business and a way of life for everybody in it.

Bill’s Talk provided many examples for each of the sections of the plan and helps the audience to understand why those sections are contained in the 1PSP. It is the use of a tool like this that enables businesses to grow and become sustainable, avoiding the dangers that can kill many businesses. Studies have shown that 90% of businesses started in a year go out of business in a decade! The 4% of American businesses that are sustainable with revenues in excess of $1M/year use a tool like the 1PSP to grow their business. The talk is a very useful introduction to the tool and encourages business owners to write down their goals along with the related activities and responsible parties to achieve growth and success. It encourages good business habits and very clear goals.

This talk can be presented in about 45 minutes to your group.  Just call Bill Alexander, Business Coach & Consultant, Alexander Business Consulting[masked] www.alexanderbizcoaching.com to schedule.

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