A few weeks ago at my chapter meeting in Naples, Florida we covered the 1-3-5 GPS business plan. The concept is pretty simple; you write out a plan that will fit on one page. Now, of course this doesn't have space for every little detail, but it is structured to map out your #1 Goal followed by 3 Priorities that will impact the goal as well as 5 steps for each priority.
Here’s a clip from the actual Master Networks Training Tidbit:
The number 1 represents the primary Goal of the plan. This is the single measurable outcome that would indicate things had worked as desired. The key is that this number is easy to track and that its achievement means the venture has succeeded.
The number 3 represents the Priorities that will most impact and determine the achievement of the goal. They are the three key strategies that will focus all the businesses’ energies, resources and creativity toward the goal.
The number 5 represents the key STEPS for each priority. These are the actions that will be taken, the execution of the plan, the things that will get done in order to accomplish each of the three Priorities that will lead to the Goal.
So, use the magic of the one-page business plan formula, the 1-3-5 GPS in all your ventures. It’s simple, it’s clear, it WORKS!!!
As a brand new business owner, this was both pragmatic and helpful. My partner and I had general ideas and goals, but we’d never had the time to really map out an overall business plan and had been somewhat faltering in our focus. I think we, like most, thought a business plan was supposed to be this huge thesis-like document with many complicated pages!
My chapter president Lee Blackston challenged our group to take the 1-3-5 GPS home and come back with it personalized to our individual businesses the following week. A couple of members groaned...oh no HOMEWORK but all in good spirits.
On Monday Lee called me to talk about a golf tournament and casually asked if I remembered to do my business plan. Of course, I hadn’t. So I took lunch break to map things out thinking it would take me an hour. I was pleased to see how quickly and easily this plan honed my focus. I was truly amazed at the clarity this simple plan brought to my business. I knew that I wanted to grow in a particular way but it was all ambiguous until I mapped things out with the 1-3-5 GPS.
Each day I look at this and work on the steps and priorities.
Here’s my plan for my new start up:
My Goal is to grow our yearly business income to $250,000 by June of 2014.
Priority 1: Take my products National by building relationships in five urban areas
5 Steps:
A.. Portland, OR
B. Napa Valley, CA
C. NYC
D. Raleigh, NC
E. Chicago
I chose five cities in which my partner and I have connections and contacts.
Priority 2: Leverage our reach by Co-Branding
5 Steps
A. Start a Lean In Circle for women in Business
B. Co-Brand with local shared work space Venture X
C. Build and duplicate brand within brand platforms for key direct selling markets
D. Packaging our services with other brands
E. White labeling our services for other companies
I chose 1 brand that is recognizable nationally; 1 that is recognized locally and three smaller website companies.
Priority 3: Build Residual Income
5 Steps
A. Generate 4 new monthly billing clients per week
B. Build my Master Networks Regional Partnership
C. Create ongoing webinar series that can be recorded and duplicated
D. Build a social media reputation management package
E. Package and sell monthly services with a few key partners
I have put a focus on creating things that are easy to duplicate and can roll year round with residual income once the upfront work is done.
And that’s it! Now of course, there’s much more that goes into each of these steps, but the true beauty is in the simplicity and clarity of this plan. I have it printed on one sheet of paper and each day work on growing my business with the 1-3-5 GPS.
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