Business plans can be huge files, lengthy descriptions and sometimes also boring. This is the reason why businesses avoid writing one and others avoid reading it. Writing a business plan is one difficult task. However, one page business plan is the rescue to this problem.
Over the time, businessmen have surpassed the idea of long and lengthy business descriptions and turned over to the new ‘one-page business plan’. Moreover, this is one of the best ideas that have taken grounds for businesses to make a quick and powerful impact on their investors or potential stakeholders.
- 1 Why are one-page business plans important in today’s time?
- 2 How can a one-page business plan serve your business?
- 3 What should your one-page business plan consist of?
Why are one-page business plans important in today’s time?
Businesses do not have the time to go through the details of a long business plan. We live in an era of quick action and reaction. If you give your potential investors or stockholders a long business plan they might just not read it.
Moreover, giving them one page with a piece of specific information is preferable. If the page gives proper insights then it is more likely that they will at least read it.
How can a one-page business plan serve your business?
Prospects can easily understand your business plan.
It is easy to grab attention with a single page
The proper form of information goes into one page, so there is no room for confusion.
A proper a pitch document for your business.
What should your one-page business plan consist of?
So let us go through how can one write an informative, impactful one-page business plan.
Explain your business idea in a few lines but make sure it is clear. A prospect should read the few lines and be crystal clear about your business module. Furthermore, there can be doubts but not confusion.
How does the market need your idea
You need to explain how the market is in need of your business services. This will increase the chances of investment. If the investor knows that your service is necessary to the market and there are chances of your business growing, he/she will definitely think of investing.
A brief about your target audience is very important. The target audience is the main aspect of a business. Explaining this aspect is mandatory and essential. The overview should clear the doubts about the target audience. The investors should know whom the services are catering to.
Nonetheless, do not give away all the confidential details about your budget. But one should know what revenue model you are currently working on. Giving a journey brief from what revenue did you start to where it has reached will be helpful.
Marketing and sales
What are the various marketing strategies being used by your business? This is a mandatory question every investor has. Are your marketing strategies aligned with the market? All these questions should be clearly answered in the business plan.
Impress your investors! Let them know about your achievements. Without a doubt, if you are a part of any networking company, or some panel, won any awards for your company, reached a huge number of customers, etc. Tell them everything. However, let it be short and crisp.
Undoubtedly, specifying your partners is essential. All of your partners should be acknowledged and give importance. This shows how much you respect and care about your partners.
This also helps the investors know who you are connected with. All the partner like marketing partners, food partners, etc should be mentioned.
Your company is nothing without your employees and team. So give them adequate importance in the business plan. Unquestionably, the number of employees working with you, an overview of the most successful employees, etc will give an insight to the investor.
Moreover, this also gives the investor an idea about how many people are currently working with you and the manpower included.
You can explain how your business has an edge over the competitors in the market. Why the customers will choose you over the other competitors? Furthermore, this is important as the investors will think it is beneficial to invest in your company.
The products or services you are offering should be mentioned. Moreover, also mention how your products are different from the others in the market.
Furthermore, give them reasons about why will the target audience choose you over the others. Make the reader realize that your business is a great investment.
Besides, giving surfaced information about the human resources plan, customer services, delivery process, facilities, etc can be mentioned. Nevertheless, Make sure this information does not seem bland. This should interest the reader or the investor.
This section should precisely focus on the profit and loss of the business. Nevertheless, include the profit and loss margins, sales targets, cash flow projection, general and administrative expenses, etc. Without a doubt, keep this part clear and crisp so there are no future hassles.
Business plans are given out when a company is in need of funding. Giving an idea about what kind of funding and how much does your company need is a piece of important information. Nonetheless, do not make it look desperate. Keep it formal and sweet.
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Great! You have reached the end of this article. I hope this information gives a detailed insight into the idea of a one-page business plan. Go ahead and make the best one-page business plan for your company. Get your business rolling!