Today, only about 64% of small businesses make a profit. Why? Well, they don’t have a clear plan and model that they follow.
Since such a small percentage of small businesses make a profit, you might wonder what you can do to increase your chance of success. The OGSM model might be just what you’re looking for! Read on to explore what this model is and how it can help your business thrive in no time.
What Is the OGSM Model?
There are different strategy guides to help you out such as https://archpointconsulting.com/ogsm-strategy-guide. OGSM is short for objectives, goals, strategies, and measures.
This helps you decide your business plan outline and how you’ll get there. Your aims are then divided into measurable goals, broad objectives, and strategies.
First, you’ll have your objective which is linked with your company mission. Your goals will define what you need to do to achieve the objective. This line is the most vital for your company to remember as they move along with the OGSM model.
Next is the strategies that we use for our objective. Lastly, you’ll want to have different measures to decide if it’s working.
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Benefits
This is a one-page business plan for those at different levels of the organization to understand. When changes occur, the OGSM framework can change as well. Each goal will have an action that you take in order to increase your chances of performance standards being met.
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Cons
Keep in mind that this business plan sample does require cooperation from the beginning. There needs to be strong leadership and a commitment to years of this framework.
Dedicating such a long time might not be realistic for all businesses. You’ll need to change with any external or internal factors.
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Creating Your Plan
OGSM business plan examples will show you that it’s easy to implement this model. It only requires a single page instead of needing technical skills or software.
The largest requirement is that you define your goals in order to succeed. Each stage of the model needs to align in order to make sure that they reach a common goal.
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Proper Communication
It’s important to discuss this new framework with your employees and build awareness around it. Keep in mind that it might be a challenge and learning experience for some.
It might not align with everyone within your company and some might be against it. Go in prepared with answers to common questions that might pop up along the way.
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Understanding How the OGSM Model Helps Businesses
After exploring this guide, you should have a better idea of what to expect when it comes to the OGSM model. Speak with your employees to see if it’s the right option for you and your business.
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