One Page Business Plan – A Simple Template For Startups
What is a one-page business plan? When you want to kick-start your startup venture, there are plenty of things that need to be done in order to make it successful. Before anything, you need an effective business plan that will take your startup to heights.
Irrespective of your niche, objective and type of business, you need a working business plan. It is not necessary to draft a 50-page plan that will have unnecessary information. For a startup, you only require a one-page business plan that will include just sufficient pieces of your business.
A robust business plan works as a strengthening pillar of a growing business. If you are relatively new to drafting a business plan for a startup, this comprehensive guide is everything about it.
Here, you will get step-by-step guidance regarding how to write a one-page business plan.
What Is A Business Plan?
Before moving any further, it is essential to determine what a one-page business plan entails. It is a living document that articulates your business vision, overview, objectives, goals, etc. All these details help you create sound financial and marketing decisions for your business.
It is more like a strategy that your business will abide by. You must understand that a business plan should not be rigid; it should be able to make changes with the dynamic business environment.
What Is A Structure Of A Business Plan?
Concise and crisp information is the key to a successful one-page business plan. In order to create a structure of your business plan, there are certain factors that you need to keep in mind:
- Need for your product or service in the market.
- The competition of your business and how you plan to differentiate your brand.
- Your sales strategy that will earn your higher profits.
- Marketing strategies that will provide your business with a unique recognition.
- Capital requirements to get started with your business.
Thankfully, there are sample templates for a one-page business plan available all over the internet. These sample templates can be copied into your Excel or Word document. You can simply take out the text by copying it.
Why Do You Need A One-Page Business Plan?
- Give you partners and investors a quick idea of your business. It can also serve as a pitching document.
- Avail an approachable way to present your business as a beefed-up pitching deck on a single sheet or PowerPoint slide.
- Get unaltered attention from your audience and allow them to take action.
- Get all your focus concentrated on a particular path and work to enhance your business.
Step-By-Step Guide To Create An One-Page Business Plan
Now let’s get into the business and get to know how you can draft a productive single page plan.
Step 1: Create A Summary
A summary should not be more than two sentences on any of the following:
- The business concept
- Current business situation
- The key success factors
- Financial condition/requirements
In a one-page business plan, you can only discuss any of the above-mentioned areas. You need to focus on any one situation and plan your endeavours.
Step 2: Include Market Analysis
Next up, you need to add a couple more sentences regarding the following:
- Target market
- Target audience in the market
- Customers’ needs in that particular target market
This particular section will prove your prowess in marketing research. It also helps you in segregating your market and structuring a market plan for the same. You also need to add a few lines on how your product/service is different for targeting a customer base.
Step 3: Add Competitive Analysis
After a marketing analysis of two or more sentences, you need not invest more than one or two sentences on:
- Competitive products/services
- Opportunities to grow in the market
- Threats and risks that might be witnessed
You just have to answer a few relevant questions in this section. Make sure to keep the answers short and crisp to create an impressive point.
Step 4: Create a Strategy
Now comes the most crucial point of the entire plan. Here you need to focus on a few things and dedicate a couple of sentences on:
- Vital competitive abilities (more like capabilities)
- Significant competitive weaknesses
It is the time when a one-page business plan will become both purposeful and challenging. In this step, you need to be crystal clear on how your business will be different from those already on the market.
Step 5: Introduce Your Products And Services
Yet another important section is where you bring your products/services forth. You need to write one or two sentences on the following:
- Evaluation of your products/services
- Positioning of your products/services
You need to spare yourself from the details. Instead, you need to focus on differentiation. Don’t get too technical while formulating these points. However, it is important to clarify what you are bringing to the table.
Step 5: Cover Marketing And Sales
Next, you should be covering the marketing and sales aspect of your business. You need to write one or two sentences on any of the following:
- Your marketing strategy
- Your sales tactics
You need to choose a topic that you feel is stronger. It is better to adopt a single approach rather than scatter-shoot. Even if you want to go for a multi-approach, you must focus on the bread-and-butter aspect that will drive more results.
Step 6: Focus on Operations
Operation is also a key aspect of your one-page business plan. For this, you need to dedicate one or two sentences to any of the following:
- Your key personnel
- Your HR plan
- Delivery of your product/service
- Your customer support service
- All the facilities
You need to avoid what is absolutely unnecessary. Focus on the thing that depicts your objectives in the best way. If you are looking to attract investors, you should be talking about your operational needs. Your one-page plan is something that will attract prospective clients and investors.
Step 7: Talk About Financials
This is a section where you cannot go out of track. You have to be tightly focused on the matter at hand. The aspect of profit and loss projection should be the highlight of this section. Talk in numbers to get the attention.
You must only include things that are necessary and add value to your business plan.
- Starting your balance sheet
- Balance sheet projection
- Cash flow projection
It is quite evident that it would take more than one page to cover your financial details. But, it is an area where you need to prove your prowess. You need to keep this section as simplistic as possible.
You can add additional documents like profit and loss statements, balance sheets, gross profit margins and more.
In a nutshell, the key to drafting a one-page business plan is to keep things relevant and leave all the details for other documents. It is the only way to keep your investors/clients/audience hooked to your business plan.
One-Page Business Plan Template
Now you have understood the step-by-step approach to draft your business plan. However, a sample template of a dummy business would help you further.
Here we have illustrated a simple business plan from which you can get an idea.
|Business Plan||Shelly’s Boatyard|
|Summary||The concept of our business is to buy used boats, clean them, repair them as required and resell them at fair prices. Shelly’s Boatyard is focused on all sorts of powerboats that will determine our market value.|
|Market Analysis||Our target market understands the value of better-built boats. We are focused on people who have restricted budgets and willing to buy used boats.|
|Competitive Analysis||Our competitors are official boat dealers. These dealers sell their boats at premium prices and try to sell without repairs.|
|Strategy||We have an eminent understanding of the fair resale value of used boats.|
|Products And Services||Used outboard powerboats are our main products. Minor and major repairs on the boats are our primary service.|
|Marketing and Sales||We will be advertising our boats online and over the classifieds of newspapers.|
|Operations||Cleaning and repairing the boats will be performed hourly by workers. We have garage property, an open yard and weather permitting to conduct the service.|
– Quarter Boats Sold: 30
– Average Sales Price: $2,500
– Total Sales: $60,000
– Average Purchase Price: $2,000
– Average of Other Goods: $100
– Gross Profit Margin: $10,000
– Marketing Costs: $1,500
– Other Operating Costs: $1,000
– Profits: $9,000
The Bottom Line
That’s all you need to get started with your one-page business plan. All you have to understand the crux of the matter is “keep it concise and crisp”. This step-by-step guide will definitely help you in drafting a business plan that yields success. Don’t forget to use this template as an example to draft your dedicated business plan.