Note: Running Fridays in FromGregsHead.com, is a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the Entrepreneur’s Playbook™ page of the PKF Texas website.
Strategic planning is key to the growth of a company. Market forces often impact the planning and you must move quickly to respond to opportunities and threats.
Using the one page plan model can allow a company the nimbleness it needs to respond to these opportunities and threats.
Central to the creation of the one page plan is the concept of NOW, WHERE, HOW. Where is the company NOW? WHERE does the company want to be in the future and HOW are we going to get there?
When developing the plan with your management team, document the company status NOW in regard to the areas where improvement is needed, the current status of the company as a whole and then where your company should in the next 6 to 12 months.
The HOW section of the plan documents what strategies and tasks are necessary to move the company from where you are NOW to WHERE you want the company to be in the next 6 to 12 months.
The key is to be as specific as possible about your strategy on HOW to move the issues from where it is NOW to WHERE we want to be in a specific period of time.
The one page plan is a living document, it can be easily updated, edited and communicated on an as need basis. Key performance indicators can be developed to track the company’s performance with the implementation of the objectives identified in the one page plan.