What is a Business Operating Plan?
A business operating plan outlines the operational components of a business. It includes objectives, goals, and strategies to achieve those goals. The plan is a comprehensive guide that outlines how a business should operate in order to achieve its desired performance. It is important for business owners to have a plan in order to stay organized and on track with their goals.
What's included in this Business Operating 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 Operating Plan template for?
The business operating plan template is for entrepreneurs and small business owners who are looking to create a plan of action for their business. It is a simple, step-by-step guide to help business owners create an effective strategy and increase operational efficiency. The template includes instructions and questions to help business owners think through the various aspects of their business and set measurable goals.
1. Define clear examples of your focus areas
Focus areas are the main areas of your business that you want to improve. Examples of focus areas may include increasing operational efficiency, improving financial performance, or increasing employee satisfaction. It is important to narrow down your focus areas so that you can more easily create objectives, set measurable targets (KPIs), and implement projects to reach those goals.
2. Think about the objectives that could fall under that focus area
Objectives are the goals that you want to achieve in each focus area. Objectives are the first step to creating an effective plan. Examples of some objectives for the focus area of Increase Operational Efficiency could be: Decrease Shipping Wait Time, and Improve Accuracy of Orders.
3. Set measurable targets (KPIs) to tackle the objective
KPIs are measurable targets that you can set to help track progress towards achieving a goal. For example, if your objective is to decrease shipping wait time, you could set a KPI of decreasing the average shipping wait time from 2.2 days to 1.5 days. By setting measurable targets, you can clearly see how far you have come and how much further you need to go.
4. Implement related projects to achieve the KPIs
Projects (actions) are the initiatives that you must complete in order to reach your KPIs. For example, if your KPI is to decrease the average shipping wait time from 2.2 days to 1.5 days, your project might be to streamline the shipping process. By implementing projects related to your goals, you can more easily reach your desired results.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
The Cascade Strategy Execution Platform is an easy-to-use software that helps business owners stay organized and on track with their objectives. The platform provides users with the tools they need to create measurable goals, set deadlines, and track progress. With Cascade, business owners can see faster results from their strategies and achieve their desired performance.