How much time have you spent creating a business plan that’s now sitting in the back of your filing cabinet collecting dust?
Business plans are outdated, old-school, and frankly, pretty useless.
With a one-page business plan, you can keep tabs on your most crucial hypothesis, KPIs, and update it regularly (without taking days to do so).
I’m AJ, and I sold my business for multiple seven figures and never once wrote a business plan that spanned longer than a page.
Let’s dive into my one-page business plan outline. I’ll also give you my own personal tips and tricks that I implemented for success!
Key Takeaways
- A one-page business plan is a great way to capture the key points of your business and present them in an easily digestible format.
- Include company description, business opportunity, target market, niche, who's doing it today, financial model, go-to-market plan, and required funding.
- Take your time and be clear about each element so that it accurately reflects the state of your company.
What is a One Page Business Plan?
A one-page business plan is a document that outlines the purpose and goals of a business in one concise page.
It is designed to capture the key points of a business concept quickly and effectively.
The document should include the company’s mission, objectives, strategies, and financial goals. Think of it as a roadmap for the success of your company.
There isn’t room for details, but it should provide enough information to give the reader an understanding of what the business does.
It differs from a traditional business plan, which is typically lengthy and includes in-depth details about the company’s plans for future growth.
A one-page business plan works great for every service business, product business, and SaaS company (basically all businesses).
Can A Business Plan Be One Page?
Yes! A business plan can be one page and still be effective.
It simply provides an overview of the key points to consider when creating your full business plan.
While it may be tempting to try and cram all the details into your one-page business plan, it’s important to stick to the basics and keep it brief.
It’s important to have a one-page business plan to understand how you will structure and run your business.
Why Use a One-Page Business Plan?
A one-page business plan is a great way to quickly capture the key points of your business concept in one document.
It also provides a valuable tool for communication when discussing your business with potential business partners, investors, advisors, or other stakeholders.
Plus, it’s concise and easier to complete than a lengthy document.
A super lengthy business plan never survives first contact with your customers. Don’t waste your time!
Unless explicitly asked for a full business plan, a one-page business plan will most likely be all you need.
Cases in which you might need a full business plan:
- Getting a small business loan
- Getting an investment
Benefits of a One-Page Business Plan
A one-page business plan provides clarity and focus.
Below are some benefits I have experienced from using a single-page business plan with my previous businesses.
1. It’s Easier to Write
A one-page business plan is easier to write than a full business plan.
You don’t have to worry about including lengthy details or analysis.
Instead, you focus on the main points of your business and how it will be successful, and why you have chosen the business model you are pursuing.
2. Great for Customer Feedback
The one-page business plan is great for getting customer feedback.
You can easily share the document with potential customers and get their input on your idea.
This helps you refine your business plan before investing more resources in it.
3. Becomes an Outline for a Detailed Plan
The one-page business plan can also serve as an outline for a more detailed business plan.
This doesn’t mean a traditional business plan; it just means that you can expand on the points in the one-page plan and create a longer document that covers each of them more in-depth.
4. Direct and to the Point
The one-page business plan is direct and to the point.
It concisely explains your business idea, the goals you have for it, and how you plan to achieve them.
This makes it easier for those who are reading it to understand what your business is about quickly.
5. Significant to Validate Your MVP
A one-page business plan also helps to validate your Minimum Viable Product (MVP).
It allows you to quickly assess whether or not your proposed business idea is viable and worth investing in.
You can see if your goals are achievable and whether or not it would be worth the resources to pursue this business.
It also gives a clear idea of how you would like the business to look in the future.
6. Easy to Update
A one-page business plan is easy to update as your business grows and changes.
You will make changes to the plan along the way based on customer feedback and market research.
A one-page business plan can be modified quickly and easily to reflect these changes without going through a long process.
This allows you to keep your business plan up-to-date and reflect the current state of your company.
7. Long Business Plans Suck!
Long business plans are not fun to write and even less fun to read. Your time can be better spent working on your actual business.
As I previously said, don’t waste your time creating a lengthy business plan unless you are required to for a business loan or investment.
A one-page business plan is perfect for getting your ideas down quickly and effectively.
8. Great for Any Stage of Business
Lastly, a one-page business plan is great for any stage of business.
Whether you are just starting your business or have been running it for some time, a one-page plan can be used to capture your company’s key points and goals.
The document should always reflect the current state of your business so that it accurately reflects what direction you are headed.
What to Include in Your One-Page Business Plan
I have created many one-page business plans in the past, and I have found that there are some key elements to include.
Company Description
In the one-page business plan, you should briefly describe your company.
Which includes the following:
- The types of products or services that make up your business
This should be a few sentences that describe what your company does. Try and keep it short, sweet and to the point.
Pro Tip From AJ:
- Keep it 1-2 sentences.
- Explain it like you’re talking to a fifth grader.
The Problem
Describe the pain your customers face or the pleasure your product/service provides.
Pain: This is the problem you’re solving in the marketplace.
Pleasure: What’s better about the mouse trap you’re creating? Why does it solve an existing problem better than the competition?
Pro Tip From AJ:
- Try and be niched/targeted. While we love big problems, don’t try and solve world hunger.
- Make sure it’s clear why the pleasure you’re adding is better than the competitors.
Secret Sauce
It’s essential to include details about your company’s competitive advantages.
If you’re solving a problem, why are you uniquely positioned to solve THIS problem?
Pro Tip From AJ:
- Be specific, is it the team? The technology? The business model.
How You Make Money
A brief financial model should also be included in your one-page business plan.
This should include the following:
- Revenue sources
- Any other financial information that creates transparency for potential investors or customers
- Pricing strategy for products
This helps to paint a picture of the financial success that your business could experience.
Pro Tip From AJ:
- Every time you get shiny object syndrome about launching a new product/service, refer back to your one-page business plan.
Go to Market Plan
Your marketing/sales plan should also be included in the one-page plan.
This includes how you will deliver your products or services to potential customers and how you will market them.
Include tactics such as online advertising, email marketing, and customer outreach programs.
Pro Tip From AJ:
- To know the best avenues to reach your customers, you need to know your customer. It might be time to make a customer persona!
- Your one-page business plan should NOT be a marketing plan. Just a high-level overview of how you’ll be marketing/selling.
Who’s Already Doing It
Your one-page plan should also include a brief section about who is already doing what you plan to do and their success rate.
This will allow potential customers and investors to understand the current competition in the marketplace and how you plan to compete with them.
Pro Tip From AJ:
- Do your research. Include the big players and the startups (and the failed startups).
Dream Team
Your one-page plan should include a brief overview of your assembled team.
This includes the management team and staff supporting your company, their roles and responsibilities, and how they will help to reach success.
It’s essential to include information about any key players you have hired and why they were chosen for their fulfilling roles.
Remember, if it’s just you to start, that’s fine!
Pro Tip From AJ:
- Don’t be afraid if it’s just you. That’s all it is with SBB!
Required Funding
You should include a brief section about any required funding for your company.
This includes the amount of capital needed to start and fund operations and any investments or loans that may be necessary.
Be realistic and research to ensure your funding requirements are accurate.
It’s essential to be transparent about the financing your business will require to succeed.
Pro Tip From AJ:
- Again, this could also be nothing, but just make sure you’re realistic.
BHAG
What’s your big hairy audacious goal (lame, but I learned that term in business school)?
Normally, a BHAG isn’t included in a business plan, but I like to include it! I like to have a crystal clear vision of where we’re going, ultimately shaping my “why.”
Pro Tip From AJ:
- Don’t be afraid to dream big! I know that might be obvious, but just don’t sell yourself short.
- Include yearly income/revenue, but also think about your lifestyle. Do you want to travel like I do? Write it down!
How to Write a One-Page Business Plan
A one-page business plan is a great way to capture the key points of your business and present them in an easily digestible format.
When writing your one-page plan, be sure to include all of the elements discussed above.
Finding a one-page business plan template for guidance might be helpful, but remember to make it your own.
Take your time and be clear about each element so that it accurately reflects the state of your company.
Once you are finished with the document, make sure to review it for accuracy and clarity.
It’s important that this document paints a clear picture of what your company does and how it plans to succeed in 2023 and beyond.
Wrapping Things Up
A one-page business plan is a great way to capture the key points of your business in an easy and understandable format.
Be sure that you include all of the necessary elements, such as company description, target market & niche, financial model, go-to-market plan, dream team, and required funding.
With your one-page business plan, you will be ready to take your business ideas to the next level!
Let us know in the comments below if we missed anything. Good luck!