How to create a business plan?

Gone are the days when you had to sound more educated by making a long PPT/ Presentation to convince an Investor. This minimalistic world is shrinking to be more productive. Most successful investors are waiting to see what you have to show them on one page, rather than keeping them dragged for longer and not coming to the point as to what problem statement you have and what USP you carry to disrupt the market. Creating a business plan can feel overwhelming, especially for entrepreneurs just starting. However, a one-page business plan simplifies the process, focusing on the essentials to provide clarity and direction.

This article by CA Manish Mishra with over 20+ years of experience explains how to craft a concise yet effective one-page business plan to align your vision, strategy, and actions.

What is a One-Page Business Plan?

A one-page business plan is a streamlined version of a traditional business plan. It summarizes your business goals, strategies, and operational plans on a single page. This format is ideal for startups, small businesses, and entrepreneurs looking for a quick, focused planning tool. If you are going for business valuation, it is suggested that you keep it simple and to the point.

Why Choose a One-Page Business Plan?

- Simplicity: Easy to create and understand.

- Focus: Helps prioritize essential elements of your business.

- Flexibility: Quick to update as your business evolves.

- Investor-Friendly: Provides a clear overview without overwhelming details.

Key Elements of a One-Page Business Plan

To make your plan effective, include the following components:

- Business Overview

• Mission Statement: A concise statement of your business purpose.
• Vision: Where you see your business in the future.
• Value Proposition: What makes your product or service unique.

- Target Market

• Identify your ideal customers.
• Define your market segment, demographics, and needs.

- Products or Services

• List your core offerings.
• Highlight what sets them apart from competitors.

- Goals and Objectives

• Set specific, measurable, achievable, relevant, and time-bound (SMART) goals.
• Include short-term and long-term milestones.

- Marketing Strategy

• Outline how you’ll attract and retain customers.
• Focus on channels like social media, email marketing, or partnerships.

- Revenue Model

• Detail how your business will make money.
• Include pricing, sales channels, and revenue streams.

- Operations Plan

• Summarize day-to-day activities.
• Include key resources, suppliers, and partnerships.

- Financial Summary

• Provide a snapshot of your budget, expected costs, and revenue projections.
• Highlight funding requirements if needed.

- Team and Leadership

• Mention key team members and their roles.
• Highlight any expertise relevant to your business.

Steps to Create a One-Page Business Plan

Step 1: Define Your Purpose

Start by answering these questions:

• What problem does your business solve?
• Who benefits from your solution?
• Why is now the right time for your business?

Step 2: Write Your Value Proposition

Articulate how your product or service adds value to your target audience in a few sentences.

Step 3: Set Clear Goals

Use the SMART framework to ensure your objectives are actionable and trackable.

Step 4: Outline Your Strategies

Summarize how you’ll achieve your goals, focusing on marketing, sales, and operations.

Step 5: Include Financial Projections

Estimate costs, revenue, and break-even points. Use simple figures to convey financial feasibility.

Step 6: Keep it Concise

Avoid jargon and lengthy explanations. Aim for clarity and brevity.

Step 7: Format for Readability

Use headings, bullet points, and sections to organize information visually.

Tips for Success

- Know Your Audience: Tailor the plan to your audience, whether it's investors, partners, or internal use.

- Be Realistic: Set attainable goals and projections.

- Iterate and Update: Review and refine your plan regularly to reflect changes in your business.

- Seek Feedback: Share your plan with mentors or advisors for input.

Benefits of a One-Page Business Plan

• Quick Decision-Making: Provides a clear roadmap for daily decisions.
• Improved Focus: Keeps you aligned with your core objectives.
• Efficient Communication: Easily shareable with stakeholders.
• Reduced Overwhelm: Simplifies the planning process, encouraging action.

GenZCFO Advice

A one-page business plan is a powerful tool for startups and small businesses. At GenZCFO, we help you focus on what truly matters, as it helps you set priorities, attract stakeholders, and stay on track toward your goals. Book a consultation call with our experts to start crafting your one-page business plan today, and watch your ideas transform into actionable strategies.