Write a one page business plan
Here are some tips on how to write a one page business plan. Your business plan makes up the foundation of your business. It acts as the roadmap for how to structure, run, and grow your new business to be profitable.
This can be used to assist in relaying your vision of your business to convince people that working with you or investing in your company is a smart choice.
Tips for writing your business plan:
- Be clear on what you want to achieve
- Keep it short, simple and easy to understand
- Ensure your goals are SMART - Specific, Measurable, Achievable, Relevant, Time-bound
- Speak with your customers to understand how your product adds value to them and whether they would pay for it.
- Ask your advisor or mentor to review your plan and give you feedback and suggested improvements.
- If you get stuck, WE have service plans available to help you prepare your one page business plan
Here are the key components to write your one page business plan:
1. Purpose, Vision and Values
These are what we call the heart of your business. They help you to get up in the morning and do what you do. They also help you decide who you will and won't work with, based on shared values.
2. Value proposition
Think of this as your elevator pitch. Keep it short and sharp, ensuring you are sharing the unique value you’ll provide to your customer.
3. Ideal client
Who is buying your product or service? It's important that you truly understand who your target market is and where they are for marketing to.
How many sales does your business need to make a profit? How much profit do you want to make?
5. Opportunities and Vulnerabilities
What opportunities are available for you to capatilize on? What are the vulnerabilities that you need to mitigate?
6. Key Performance Indicators
What are the key metrics that you will track to ensure you are hitting your targets?
What are the big picture goals you want to achieve? Who will be responsible for achieving each goal and when do you expect to achieve them by?
Implementing your plan:
- Your business plan is a working document, update it regularly, don’t leave it to gather dust on a shelf or hidden in an online file.
- Make sure it’s visible, so it stays top-of-mind for you and your team.
- Break your goals down into bite sized pieces and do something everyday that moves you a step closer to your goals
- Stay on track and make it clear that these goals are the top priority for the business.
Review your plan:
- Check how you’re tracking to reach key milestones in your business plan every month, and celebrate when these have been reached.
- If you are struggling to stay on track, perhaps try getting an accountability coach or mentor
- Stay on top of industry trends and stay connected with your customers – this will help you stay ahead of any changes needed in your business.
- Update your business plan with any changes affecting your business or industry.
Need help writing your one page business plan?
We've given you some tips, but sometimes it's not enough. But don't worry, we've got your back!
WE have worked with many business owners to help them write a one page business plan and would love to help you too.
Our Business Planning sessions get to the heart and soul of your business. A four hour session with WE will require you to take time out and really focus on your business. Together we’ll work through each of the key areas of your business plan, so you aren't sitting there wondering if you're on the right track.
At the end of the session your easy to understand one page Business Plan will act as a guide for you (and your team). It will ensure your business is on course for success.
Check out one of our older clips where we share about business planning