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Most ordinary business plans are several pages long and full of over-detailed mumbo jumbo. But an elaborate business plan isn’t necessary–especially if you’re a beginner entrepreneur.
A simple one-page business plan is usually better and more focused.
That doesn’t mean standard business plans aren’t worth it or that you don’t need one. But why not start simple at first?
There is usually a lot of superfluous work involved in a standard business plan. It’s why many entrepreneurs avoid writing one.
A complicated plan may even prevent some people from starting a business at all.
With almost everything in life, it’s better to keep things simple and focus on what matters.
There is a link to download the simple one-page business plan template at the bottom of the article. (It is a Microsoft Word document.)
How to Write a Simple Business Plan
A business plan serves as a roadmap. It lays out what your business does, how it will make money, your competitive advantage, and more.
There are many different variations of business plans and even more ways you can write your own.
Most every plan should include these key elements:
- Business Summary (what product/service your business offers)
- What Value Do You Offer?
- Financial Plan/Business Strategy (how will you make money?)
- Marketing Plan (who is your market, and how will you reach them?)
- Analysis of Competition and Your Competitive Advantage
- Business Goals
Now writing your plan will take some critical thinking on your end. You will want to go through each process of your business and put it into words.
How much detail you want to include is up to you. A one-page plan should hit all the vital factors and be as summarized as possible.
Pros of a One-Page Business Plan
- It serves as a quick overview of what your business does.
- It makes you compress your ideas and focus on core elements.
- Easy to understand and can be used to pitch your idea.
- Less unnecessary work, so you can give more attention to your actual business.
Cons of a One-Page Business Plan
- It may not be a good enough guide depending on your business.
- Less detail can result in less understanding.
- If you are looking for funding, a one-page business plan may not cut it.
What’s Included in the Simple Business Plan Template
We created this template with the sole purpose of helping startups and entrepreneurs get their feet off the ground.
The simplicity makes it easy to complete, yet it includes some essential factors that should be addressed.
The template consists of the following:
- Business Name
- Mission Statement
- Target Market (who will your main customers be?)
- What Problem Do You Solve?
- How Will You Make a Profit?
- How Will You Reach Customers?
- How Will You Retain Customers and Get Referrals?
- What Is Your Unique Selling Point (USP)? (what sets you apart from your competition?)
- What Are Your Main Challenges?
- How Will You Measure Your Success?
These areas are some of the most crucial aspects to consider when starting a business.
Once you complete the plan, you should feel more confident in your business idea. Or at least identify if it is viable or not.
What Else Should You Consider?
Every business and entrepreneur is different. This plan may need to be altered to fit your needs.
Consider making another page dedicated to the specific details of your business financials. This would include projected sales, profit margins, and more.
Dedicating another page entirely to your marketing plan is not a bad idea either.
Regardless of your experience or the type of business you have, it’s best to develop an effective strategy.
Overall, this template will make you get straight to the point and create a focused business plan.
It could help you weed out business ideas that don’t make sense and find those that do.
Click the link below to download the template.