How to do a fast, one-page business plan
The key to a one-page plan is to start out simple and grow it as you go. You can begin with a few headings and some bullet points mapping out your vision, goals, milestones, and financial forecasts.
Things will keep changing, and new information will come in, so think of it as a living document. Keep tweaking it as things evolve.
Sections for a one-page business plan:
#1 Value proposition
Make sure the reader understands the unique value you’ll provide in a few clear, simple sentences. Cut the jargon and fluff, and get to the point.
#2 The problem you’re solving
Expand on the problem that you’re solving. Imagine that you’re talking to someone who’s never heard your idea before. What is it about your solution that hasn’t been done well before?
#3 Target market and competition
Who are you selling to, and what other choices do they have? How are you going to serve them better? This is where you need to show you’ve done some market research.
#4 Sales and marketing
How will people learn about you? Will you use social media? Do your customers read trade publications? Or will you sell to them in person? Figure out where your target audience is, and go there.
#5 Budget and sales
Do some forecasts of sales and outgoings. What will your margin be on each sale? Will it be enough? How many sales will you need to make a profit? Use the figures to define ‘success’.
#6 Milestones
Milestones will help you keep an eye on the big picture. For each milestone, say why it’s important, note what (or who) you need to make it happen, and put a due date on it. This helps break everything you need to do down into manageable pieces.
#7 The team
Who’s part of your business and why? Write a couple of lines for each person, including their goals and responsibilities. Do this even for roles you haven’t yet filled.
#8 Funding
Identify how much you need (or already have) and what it’s for. When will repayments be made, and when do you expect to have paid it all back?
When writing a business plan that’s just one page, you need to keep things short and to the point. If there are lots of details for one of the sections, keep them in a separate document. Just run with a high-level summary in the one-page plan.
It’s often harder to write something short, so take a few passes. Whittle it down as you go. Make your language clear and simple. A 12-year-old should be able to understand it!
Need a template?
Send us an email at admin@surftax.com.au and we’ll send you a template to help you get started.
This helpful article was sourced from Xero – we use their cloud-based accounting system for all our clients to make managing your finances easy.
Find out more at https://www.xero.com/au or contact our STS team if you have any questions about your business or personal finances.
