One-page Business Plan: The Step by Step Guide

You probably have an idea for a business right now. That’s great! You now need to start thinking about that idea and get your thoughts down on paper. This One-Page Business Plan will guide you through every step of your business plan. This plan can be completed in under 15 minutes once you have a basic understanding of your financial projections. Planning is a great way of understanding the income potential and costs of your business idea.

Download our 1-page template for a business plan before you continue:

Download the template and save it on your desktop. You can edit the fields of the PDF. You can also print the PDF and type by hand. Each question can be answered with just one or two sentences. You are free to leave out any details.

If you require more space, place your basic ideas onto the template and then continue to write on a personal paper.

1. 1.

Question: How will you solve the problem in your business?

 

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Every business has to solve a problem. Which problem can your company solve for customers? Get to the root of the problem your customer is facing.

A landscape company might find that “time lost” in maintaining a lawn is a problem. However, it’s best to be more specific. An example of a problem could be an untended lawn. Visually, you can see a unkempt lawn. However, it’s difficult to see the “time lost.”

2. 2.

Question: How will your company solve this problem?

Now that you have identified the problem, the next step is to find the solution. What are the specific steps you will take to solve the customer’s problem? This is your solution. Be specific about your solution.

Recalling the example of landscaping, your solution is to maintain a well-kept lawn. But I challenge you to think of a better solution. You might be creating a lawn that makes your neighbors jealous. This is an emotional solution–very powerful.

 

Tip If you are starting a new business, it is a good idea to test your solution in a small amount of time. This will ensure that customers pay you for your solution. A common saying in entrepreneurship is that a new startup created “a solution for a problem that doesn’t exist.”

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3. The Business Model

Question – How can your business make money.

Many businesses have a simple business model. The company gets paid when a product or service is sold.

It is also important to describe how and where products and services are going to be sold. They will be sold in your business or at your office. Is it possible to sell them in someone else’s office or store? Are you going to be participating in ecommerce?

This step will allow you to set your pricing, which basically means how much you’ll charge. This is often difficult to determine. You might also consider looking at pricing on other websites. It is possible to contact a competitor for a quote.

4. 4.

Question: Will you sell your products or services to someone else?

Your ideal customers are your target customers. Your target customers are your ideal customers. A common marketing maxim is “Marketing to everyone”; if you don’t market to anyone, then you are marketing to nobody.

Think about demographics when deciding who your target customers will be. Consider features like income, gender, hobbies, location, and age.

Once you have a clear understanding of your target customers, it will be easier to develop your marketing strategy. You’ll know where and how to spend marketing dollars.

5. 5.

Question What will your target customers know about you business?

List the strategies that you’ll use to make potential customers learn more about your business. It can be difficult to convince your first customers when you are a new company. How do you achieve this?

Online marketing is often less effective than in-person networking. Online marketing can be free and reach many people.

You can optimize your Google My Business (GMB), listing if you are looking for local customers. You can also create your one-page website free of charge after you have created your GMB listing. Affordable

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6. 6. Competitive Advantage

Question How will your company do better than its competitors?

Study your competition to determine your competitive advantage. Once you have a clear idea of what you can do better than your competitors, you can choose one or two areas that you are confident you can beat them in.

You can offer exceptional customer service if they have bad online reviews. Your marketing could even mention this, as an example of a satisfaction guarantee.

Perhaps you are faster than your competitors – “Done in two or less days!”

7. Financial Projections

Question – How much do you need for your first venture?

One component of financial projections can be called startup cost. This is how much money you will need to open your doors. Simply list the services and items you require to get your business off the ground.

You should overestimate the startup cost rather than underestimate it when estimating. Many new business owners are unaware of certain startup costs. You could be short of cash if you underestimate the costs.

Question – How much money will you spend each month?

Calculate the monthly spending potential of your company. Calculate the cost of the first 12 months.

It may require some research. It may be necessary to call the number and request a quote on items like raw materials, equipment, or insurance.

Question – How much do you make each month?

The fun part is now–how much money do you expect to make. What number of customers are you expecting to have each month for the first twelve months? Your pricing should be determined from the business model step. To calculate your monthly income, multiply the number of customers by the price.

You may expect to increase your customer base each month depending on the type of business you have. In your first month, you may only have a few customers. By 12 months, you could have hundreds of customers. But you don’t need to expand. Some businesses may be satisfied with just a few customers each month.

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8. 8.

Question: How much money is needed to start and run your business?

The total amount you will need to fund your business and keep it running for at most six month. You will need more funding than the initial amount.

What happens if sales don’t go as planned? Oder a natural catastrophe like a hurricane, pandemic, or other major event. Is your company able to save enough money to make it through difficult times?

Once you have the funds to launch and run your business for at least six more months, you can start looking for other sources of funding, such as:

Alternative to the One-Page Business Plan

After reading this guide, you will be able to create a more detailed business plan. There are many types of business plans . If you are looking for funding from investors or banks, you will need a traditional plan. This plan requires extensive market research and financial forecasting.

Bottom line

Once you’ve created your one-page business strategy, don’t forget to look at it again. Keep your plan in mind as you work on your business.

To see if your forecasts were correct, it’s a good idea to keep track your income and expenses. Are you achieving your goals? What is working well and what isn’t? Your one-page business plan can be used to assess the current state of your business and make any necessary updates.

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