A business plan can be reduced to a single page. A one-page business plan is often better and more powerful than a traditional one. Creating it will help you capture and communicate the idea of your business clearly “going to the point” of what you will do. It is about preparing a document that covers everything you need at the beginning and allows you to start in an organized way.
Advantages of making a business plan on a single page
- It helps you prioritize and simplify, including only the most important elements of your business.
- Deliver a concise message, allowing you to capture the attention of the audience and stimulate them to action.
- Allow potential investors and partners to quickly understand your idea.
- Offer an affordable way to get your business plan in front of the right people (with an email or PowerPoint slide ).
How to make a business plan on a single page?: Steps
1. Describe your company:
Prepare a summary of what your company does, its identity, and what the business model is. What will you be selling? A service or product. To whom and why? The purpose is to give the reader an overview of the company and the market before going into more detail. Many times it is better to write this point after having elaborated on the rest of the plan. It will be easier for you to write the key elements to include.
2. Products or services:
Detail what your business will be selling, what problem it solves, and how it will benefit your customers. If you are not able to express how your proposal will help customers, then your business idea might not be a good one. In the end, including what other companies are solving the same problem and how your proposal is different.
3. Marketing and sales:
Highlight some marketing and sales strategies that support how you plan to sell your products or services. To develop this step it will be very helpful to have a good understanding of who your buyer personas (ideal customers) are. Answer questions like: what do you plan to do to enter the market? What distribution channels will you focus on? How will you communicate with your customers?
4. Goals and milestones:
You can start by asking yourself how many clients you need for this business to be successful. Next, write a list of your goals and key metrics for success framed in a time frame. For example:
- Conquer 20% of the market share by the end of the year.
- Sell 800 units of the product in the first 6 months of operations.
- Acquire a net income of $10,000 in the first fiscal year and $40,000 by the 3rd.
- Hire a full-time salesperson before the end of the year.
5. Summary of a financial plan:
In case you are preparing your business plan to get a loan from the bank or some type of investor, you must include the number of funds you need to start your business. The essential points that this section has to contain to keep it simple are:
- Resources you need to get started and an estimate of how much they will cost. For example, you will rent a place, you require third-party services, etc.
- Income and expense projections, including gross sales, gross profit margin, sales, administrative expenses, and net profit.
Perhaps this point has already taken you out of the one-page plan, but it is extremely important to develop it. We even advise you to prepare it with more detailed information in case you have to present it to request financial support or defend your business project.
Examples to make a business plan on a single page
One Page Business Plan by Bplans
His vision is that a business plan should not be a document that takes you weeks to research and write, just in case you are looking for a loan or an investment. It is best to use a template.
One Page Business Plan by Chris Guillebeau
Chris Guillebeau is the author of the business book The $100 Startup. His template from him focuses on answering simple questions and describing what your business would look like if it were successful, allowing you to clarify concrete goals and know where you are going.
Sketch to make a business plan on a page according to Fizzle
This proposal also encourages you to quickly focus on your business goals. Access the template.
This is not to say that you shouldn’t create a standard business plan. Most likely you will need it. However, making a one-page business plan will prove to be a considerably useful tool for refining your business strategy quickly and easily. But be flexible: use your one-page business plan as a compass, meant to be your road map. As you progress in your project, you will surely have to modify it because you will encounter obstacles (some unexpected) and you will have to take different paths, methods, or goals.
As Mike Tyson says: “Everyone has a plan until they get punched in the face.”