For many, writing a business plan seems like a daunting task. You may even have been putting it off. A traditional business plan is longer and more complex, so many people choose to ignore this important first step.
Instead, start with a one-page business plan to simplify the process and get started on your new venture.
What is a One-Page Business Plan?
A one-page business plan is a simplified version of a full business plan. Although the plan is shorter, it still serves to outline the basics of your future company. It follows the same structure as the standard version but with less detail. The one-page plan allows you to condense the information and present it in an easy-to-read format.
Similar plans like a lean business plan or executive summary also allow you to present your business in a condensed format. However, a true one-page business plan must fit on one page. It must also use a legible font size like 11 or 12 point font.
When to Use a One-Page Business Plan?
You should use a one-page business plan when you are ready to present your ideas to others such as potential investors. Instead of having to fill out a large business plan, you can start small to get started. This lets you present your ideas simply and cogently.
You should use a one-page business plan template to:
- Present a simple version of your business plan to interested investors
- Get started on writing a more comprehensive business plan
- Create a plan for a small business or one with a simple purpose
- Focus on your key ideas to generate interest
- Brainstorm and plan for your future company
How to Write a One-Page Business Plan?
Writing a one-page business plan is a simple process, especially when you use a template to help you get started. A one-page business plan should cover the following sections:
Step 1 – Business Overview
You should discuss important facts about your business and its identifying information, such as:
- Founding date
- Mission statement
- Type of business (LLC, Corporation, Partnership, etc.)
- Owner and leadership contact information
- Service of process information
Step 2 – Market Analysis
You need to identify who your customers are and where they are located. This section should also address how many potential customers are available in your business’s geographical area. This should also include whether you will engage in primarily business-to-consumer (B2C) or business-to-business (B2B) transactions.
Step 3 – Your Business Model
A description of your business model should information like:
- How you will make money
- Costs of production and sales
- Prices customers will pay for products or services
- Will your company sell products online?
- Will you have a storefront presence?
This section could easily become lengthy. Focus on the key components of your business for the one-page business plan.
Step 4 – Financial Forecast
This section should outline critical financial metrics like cash flow, profit and loss, and a sales forecast. This part is often difficult to condense, but you should focus on standard business ratios that help you get the point across. You can always provide further details if you receive a request.
Step 5 – The Team
This final section should detail the names, positions, roles, and responsibilities of each member of your team.
One-Page Business Plan Sample
You can download a free one-page business plan template below, in Word format:
One-Page Business Plan
Frequently Asked Questions
A one-page business plan should include the important details about your business. It should contain succinct information about:
- Business goals and mission statement
- Product or service offerings
- Market and advertising strategies
- Identifying information
- Financial status and funding needs
You should use a one-page business plan if you want a simple version of a business plan to get started. It can help you create your larger plan later but also provides readers with useful information right away.