Step-by-Step Guide to Writing a One Page Business Plan for Your Startup
What is a business plan?
A business plan contains all the essential information you will need to establish, run, and expand your business. It comprises your business's main elements, including but not limited to your company details, your financial plans, executive summary, and market analysis.
Business plans are used as a guide for you and a tool to convince potential investors to collaborate with you. As with any document, there is no right way to go about writing a business plan. The main objective is for the business plan to meet your needs, along with the investors.
How to write a business plan
As a startup, it can be a daunting task to sit down and create a business plan all on your own. This guide will help you through every step to create a one-page business plan for your startup.
The first step is to write an executive summary. As an overview of your business, your goals, objectives, and future plans tell your potential investors what to expect from your company. Among other things, it contains your mission statements, your aims, some highlights. This summary will make it easier for you to complete the rest of your plan.
Here, you will include your company name, what your company will provide to its customers, and its target audience. What are the strengths of your company?
To survive and thrive in the industry, your business needs information about the industry, market, and competitors. The market analysis contains all of that, including the potential for growth and the market trends.
This area of the plan will include the company’s legal structure - is it a sole proprietorship or a limited liability company? It will also contain details about the location of the company.
With all the other details entered, your business plan will need a financial plan. Some essential components will include a sales forecast, cash flow statements, income statements, balance sheets. As a startup, however, forecasts will be the only necessary plans.
As a startup, your business plan will also contain the details for a funding request. How much funding will you need and why? How will you invest these funds?
An appendix will consist of supporting documents, contracts, permits, and licenses. It may also contain relevant charts and graphs - for example, for your financial plans.
For a good business plan, research is of paramount importance, first and foremost. You should know every little detail about your business and how you can present that information to attract investors or funding. It is also essential to make your plan accessible. Any person from a layman to a professional investor should be able to read and understand your plan.
Your business plan is not set in stone. Make sure that it is adaptable according to who you are presenting it to. You can cater the details according to the reader, to make it more appealing to them.