BOPP A One Page Plan For Your Business
The Business One Page Plan or BOPP, as it is also known as, is a living, breathing plan that helps you to keep your business on track. Designed to be reviewed monthly or quarterly, it aids you to keep on track to reach your goals. And to continuously re-clarify the methods of reaching those goals.
Most importantly it’s clear and concise, saving you time and brain-power!
BOPP aids you in selecting the targets that will work for your business in several areas, empowering you to select pathways to those targets and measures to assist you in viewing how those pathways are succeeding.
This simple plan supports you to lay out and measure your;
- business’s goals
- success predictors
- cost predictors
- sales and marketing priorities
- key performance indicators
Your goal is to reach 500K annual turnover? Have 3 months holidays a year? Great, BOPP helps you focus on your goals and work to achieve them. Not sure why your marketing isn’t impactful? BOPP can help you identify why not.
What makes BOPP different
Like many business owners you possibly spend more of your time being employed by your business than running it. As a result most business plans simply gather dust or get lost in the pile of “things to do”.
By committing to BOPP you are committing to your business. You are investing a tiny but focused amount of your time, and all the knowledge you have about your business, into giving it a better chance to succeed. By meeting at regular, agreed intervals with your accountant to review your BOPP, you measure where the business has succeeded, and where it needs more attention, enabling you to vastly improve its performance.
You could even do it over Skype!
A study of 20 businesses has shown that when they applied BOPP, their profits increased by 17% in the first year after introducing it and by 63% by the second year.
Matt and Charlie
This is certainly true of our clients Matt and Charlie. Matt and Charlie’s business was doing OK, but it wasn’t yet the brilliant success they dreamt of when they started out. They had designed a product (a smartphone accessory) that had received rave reviews, but while sales were good, they weren’t phenomenal.
And while Matt and Charlie were working flat out promoting, selling and fulfilling orders, there never seemed to be enough money in the bank to take home a decent salary.
One of the measures we included in the BOPP was to track the profitability of sales to different customers (sounds simple, but it was actually quite complex with advertising, agents’ commissions, packaging and delivery costs all impacting sales in different ways).
The guys were shocked to discover that what appeared to be their most profitable sales channel was actually losing money. The simple solution was to stop that activity completely, which immediately freed up a lot of time.
One of the goals they had identified was a need to introduce new product innovations on a regular basis. So they used the freed up time to focus their efforts there.
The result was that they generated better customer engagement. This resulted in more sales, leading to higher profits and the company is now on a sustainable growth trajectory.
Now Matt and Charlie are not only making a decent living. They are also looking at entering new markets, introducing new products and developing an exciting brand.
If you would like to know more about BOPP and how it can help you improve your business contact us. We’d be happy to walk you through it.