What is a Business Model Plan?
A Business Model Plan outlines a business’s strategy, goals, and execution plan. It is used to guide a business in making decisions and understanding how the different elements of their business model interact. It should include a clear description of how the business plans to reach its objectives, including actions and associated metrics to measure the success of each action.
What's included in this Business Model Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Business Model Plan template for?
The Business Model Plan template is designed for companies of all sizes and industries. It provides a comprehensive guide to help create a plan to develop or refine their business model. It includes easy-to-follow steps to help businesses identify their goals, objectives, and measurable targets (KPIs).
1. Define clear examples of your focus areas
A focus area is a specific area of a business that requires attention and strategic planning. Examples of focus areas can include increasing efficiency, increasing revenue, and improving product quality. These focus areas should be clearly defined, as they will shape the objectives and corresponding projects that will be part of the business plan.
2. Think about the objectives that could fall under that focus area
Objectives are the goals that a business plans to achieve under each focus area. Each objective should be measurable and have a corresponding metric to track progress. This will help the business understand which objectives are being achieved and which areas may require additional attention.
Examples of some objectives for the focus area of Increase Efficiency could be: Reduce Operational Inefficiency, and Improve Time to Market.
3. Set measurable targets (KPIs) to tackle the objective
KPIs (Key Performance Indicators) are specific and measurable targets that are set to track progress against the objectives. They should be realistic and achievable while also providing a meaningful measure of success. For example, a KPI could be to reduce employee hours spent on manual processes or increase visibility.
4. Implement related projects to achieve the KPIs
Projects, or actions, are the specific steps that need to be taken in order to achieve the KPIs. This could include automation, streamlining processes, or increasing customer feedback. It is important to ensure that the projects are aligned with the objectives and KPIs to ensure successful implementation.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is a powerful tool that helps organizations put their plans into action. It provides a centralized platform to manage strategy, track progress, and measure performance. This helps businesses get the most out of their plans and achieve their objectives faster than ever before.