The One Page Strategic Plan - Your Business On A Single Page

Having a well-articulated strategy is not just important; it's essential. Verne Harnish, a celebrated entrepreneur and author, recognised the need for a simplified yet comprehensive strategic planning tool, leading to the creation of the One Page Strategic Plan (OPSP). In short - it simplifies the complex strategy process.

I have personally used this format for over 17 years in every business I have run, owned or consulted on to help drive alignment, communication and, most importantly, a culture of high-performing individuals that are the foundation of high profits and higher valuations.

Understanding the One Page Strategic Plan: The OPSP is a holistic framework that enables businesses to distil their strategy into a single, digestible document. It encompasses seven main components: vision, mission, values, objectives, strategies, action plans, and performance metrics. Let’s dissect each component.

1. Define Your Core Values: What are Core Values?: Core values are the fundamental beliefs that guide a company’s actions and decisions. They are the essence of the company’s identity.

How to Define Them: Engage your team in brainstorming sessions. Could you reflect on what principles are non-negotiable in your business conduct?

2. Craft Your Mission and Vision Statements: Mission Statement: This concisely explains why your company exists. It should answer what you do, who you do it for, and how you do it.

Vision Statement: This is an aspirational description of what your company aims to achieve in the long term.

Crafting Tips: Be clear and concise. Ensure that your statements are inspiring and align with your core values.

3. Set Clear Objectives: What are Objectives?: These are specific outcomes a company aims to achieve within a certain timeframe.

Setting Objectives: Use the SMART criteria. Ensure that your objectives are Specific, Measurable, Achievable, Relevant, and Time-bound.

4. Develop Strategies: Understanding Strategies: Strategies are the approaches you will take to achieve your objectives.

Developing Strategies: Analyse your strengths, weaknesses, opportunities, and threats (SWOT). Develop strategies that leverage your strengths and opportunities.

5. Create Action Plans: What are Action Plans?: These are detailed plans outlining the steps necessary to implement your strategies.

Creating Action Plans: Break down each strategy into smaller tasks. Assign responsibilities, set deadlines, and allocate resources.

Establish Performance Metrics: What are Performance Metrics?: These are measurable values that demonstrate the effectiveness of your strategies in achieving your objectives.

Establishing Metrics: Choose metrics that are directly aligned with your objectives. Common metrics include revenue growth, customer satisfaction, and market share.

Regularly Review and Update Your Plan: Why Review?: Business environments are dynamic. Regular reviews ensure your plan adapts to changes.

How to Review: Set periodic review meetings. Evaluate your progress and make necessary adjustments.

Case Study: Implementing the OPSP: Let’s consider a hypothetical company, EcoTech, specialising in green technology. EcoTech’s OPSP might include:

• Core Values: Sustainability, Innovation, Integrity.
• Mission Statement: “To provide sustainable technology solutions that empower communities.”
• Vision Statement: “To be the global leader in green technology, revolutionizing how communities thrive.”
• Objectives: Increase market share by 20% in the next two years.
• Strategies: Expand product line; Form strategic partnerships.
• Action Plans: Allocate budget for R&D; Identify and reach out to potential partners.
• Performance Metrics: Market share, number of partnerships, revenue growth.

Benefits of Using the One Page Strategic Plan:

1. Simplicity and Clarity: The OPSP’s one-page format ensures that your strategy is easy to understand and communicate, essential for ensuring everyone in the organisation is on the same page.
2. Alignment: By clearly stating your values, mission, and vision, the OPSP helps align your team’s efforts with the company’s goals. This ensures that everyone is working towards the same objectives.
3. Focus: With so many potential distractions and opportunities, it’s easy for businesses to lose focus. The OPSP helps companies stay focused on what’s most important.
4. Agility: The business environment is constantly changing. The OPSP is designed to be a living document that can be easily updated and adapted.
5. Accountability: By breaking down strategies into action plans with assigned responsibilities, the OPSP fosters accountability among team members.
6. Performance Measurement: Establishing and monitoring performance metrics is crucial for understanding your strategies' effectiveness. The OPSP makes this an integral part of the planning process.
7. Resource Optimisation: By focusing on key objectives and strategies, the OPSP helps ensure that resources are used efficiently and effectively.

Tips for Success:

1. Involve Your Team: The best strategic plans are developed with input from a range of stakeholders. Involve your team in the development of the OPSP.
2. Be Realistic: Set objectives and develop strategies that are ambitious but achievable. Unrealistic plans are demotivating and set teams up for failure.
3. Communicate the Plan: Once your OPSP is developed, please let your team know. Make sure everyone understands the plan and their role in it.
4. Use Technology: There are various tools and software that can help in developing, communicating, and monitoring your OPSP. Leverage technology to make the process more efficient.

Verne Harnish’s One Page Strategic Plan is a powerful tool that can transform the way businesses plan and execute their strategies.

By focusing on the core components of strategic planning and condensing them into a single document, the OPSP ensures clarity, focus, alignment, and agility.

Whether a startup or an established business, incorporating the OPSP into your strategic planning process can be a game-changer.

Take the time to develop a thoughtful and comprehensive OPSP, and watch as your business reaches new heights of success.

Feel free to contact me if you want to discuss how to develop your own One Page Strategic Plan effectively, and I have created a simple editable Google Sheets version that you can make your copy of.

You can also download a pdf version HERE

Have a great day!

Glenn Marvin

MD - Connect The Dots