Introduction: Simplifying Business Planning for Lasting Success
Building a comprehensive business plan can be an overwhelming task for many entrepreneurs. The fear of creating a document that ends up collecting dust on a shelf often deters business owners from investing their time and effort into this crucial aspect. Stephanie Scheller, founder and CEO of Grow Disrupt, understands this concern all too well. In this enlightening blog, Stephanie shares her experience with a client who never utilized the extensive business plan she had created for her. This encounter led Stephanie to develop a solution that empowers entrepreneurs to build a concise and actionable one-page business plan. This blog post dives deeper into Stephanie's approach, outlining the key elements and benefits of this streamlined planning process.
- The Vision: Painting a Clear Picture of the Future
At the core of a one-page business plan lies the vision. Stephanie emphasizes the importance of defining a long-term goal for your company that extends beyond monetary success. By embracing the Latin root of the word "vision," which means "to see," entrepreneurs are encouraged to envision the future they want to create. When crafting your vision, be specific about the size of your company, geographic range, number of employees, revenue, services, and target audience. Sharing this vision with your team fosters a sense of purpose and unity, as they understand their contribution to something greater than themselves.
- The Mission Statement: Uniquely Defining Your Purpose
A compelling mission statement serves as the driving force behind your company's existence. Stephanie urges entrepreneurs to create a concise and distinctive mission statement that ignites passion and excitement. It should reflect your company's unique value proposition and cannot be applicable to any other business. In a competitive market, carving out a niche and providing an unparalleled solution is vital for survival. Stephanie shares her own mission statement for Grow Disrupt, which revolves around creating a world where ADHD entrepreneurs can thrive both personally and professionally. A powerful mission statement inspires the entire team and fuels their dedication to achieving extraordinary results.
- Objectives: SMACC & SMART Goals for Yearly Milestones
To ensure steady progress towards your long-term vision, it is crucial to set SMACC (specific, measurable, achievable, compatible, and consistent) or SMART (specific, measurable, achievable, relevant, time-bound) objectives for the year. Stephanie prefers SMACC goals as she believes that that you can set a SMART goal that you're not willing to work at consistently, ultimately failing to achieve your goal.
Stephanie advises against vague goals and recommends breaking them down into key areas such as revenue growth, profit increase, employee expansion, client acquisition, or brand launches. By providing tangible and quantifiable targets, entrepreneurs can focus their efforts and align their actions with the overarching vision. Objectives should be ambitious yet attainable within a year's timeframe, driving the company towards its long-term aspirations.
- Strategies: Effort Equals Results
Stephanie introduces the concept of the baseline strategy, where the effort invested corresponds to the results achieved. Altering the outcome requires a corresponding adjustment in the effort expended. By identifying and defining the baseline effort necessary for consistent business growth, entrepreneurs can develop effective strategies. These strategies encompass the recurring actions and tasks undertaken daily, weekly, monthly, or quarterly to drive business growth. They may include marketing activities, content creation, video production, or regular CEO meetings. Stephanie emphasizes the importance of starting with a manageable number of strategies to maintain consistency and momentum.
- Action Plans: Short-Term Milestones for Continuous Progress
Action plans are short-term, one-and-done goals that contribute to the achievement of the yearly objectives. Stephanie recommends breaking down larger goals into smaller, manageable tasks that can be completed within a month. For example, selecting a venue for an upcoming event, auditing a website for necessary edits, or identifying new vendors. These action plans act as stepping stones, propelling the company closer to its objectives. Stephanie shares her experience with launching online courses, where she had specific action plans for interviewing course providers and selecting a vendor. Each action plan should directly support the objectives set for the year, creating a clear path towards success.
Building a Lifeline: The Power of a One-Page Business Plan
Stephanie emphasizes that building a one-page business plan is similar to riding a bike. Once you've created it, the process becomes easier and more efficient with time. While the initial construction may require a significant investment of time, the benefits are immeasurable. Stephanie personally relies on her one-page plan as her lifeline, keeping it prominently displayed on her desk. This concise document serves as a daily reminder of the objectives, strategies, and action plans necessary to propel the business forward. It acts as a compass, ensuring that every day, week, and month contributes to the overall vision, mission, and long-term goals of the company.
The Wrap Up: Streamlining Success through Simplified Planning
Stephanie Scheller, the visionary founder and CEO of Grow Disrupt, understands the challenges entrepreneurs face when it comes to business planning. She has experienced firsthand the frustration of investing time and money into an extensive business plan that ultimately gathers dust. Drawing from her expertise, Stephanie advocates for a simplified approach—the one-page business plan. By condensing the essential elements of a traditional plan into a concise and actionable format, entrepreneurs can effectively steer their businesses towards success.
The one-page business plan comprises a clear vision that outlines the future of the company, a unique mission statement that fuels passion and purpose, SMACC objectives that serve as yearly milestones, strategies that align effort with results, and action plans that break down larger goals into achievable tasks. This streamlined planning process empowers entrepreneurs to focus their efforts, communicate their vision to their team, and consistently make progress towards their long-term goals.