Starting a new business is no small feat and one of the first big steps is writing a business plan. While traditional business plans can be long and detailed, sometimes a simpler approach is better. For those just starting out on their entrepreneurial journey, a one-page business plan can be the perfect tool. It allows you to define your business model, clarify your goals and present your strategy all on one page. This is especially useful if you need to communicate your vision to investors, partners or potential team members. A clear business plan outline can help ensure you cover all the essential points.
Here’s a step-by-step guide on how to write a one-page business plan.
1. Summary
The first part of your one-page business plan should be the summary. This is the opening statement that gives a snapshot of your business and its objectives. Think of it as your elevator pitch—it should be short but powerful enough to grab the reader’s attention.
What to include:
- Business name and location: Start with your business name and where it’s located. If you have a cool tagline, now’s the time to include it.
- Mission statement: A one sentence statement that describes what your business does, who it serves and why it matters.
- Business model: Briefly outline your business structure—sole proprietorship, partnership or corporation.
- Goals: State the key objective or vision of your business.
Example: “TechCo is a software development company based in Chicago, Illinois. Our mission is to provide affordable, cloud-based tools that simplify business operations for small businesses. We want to empower entrepreneurs to simplify their processes without needing expensive IT departments.”
2. Description
This section provides more detail on what your business actually does. You’ll want to elaborate on the products or services you’re offering and explain the value your business brings to customers. It’s also where you define who your target customers are and how you’ll be different from the competition.
What to include:
- Product or service overview: What do you sell and how does it solve a problem in the market?
- Target market: Who are your customers and how will you serve them? Are you targeting a specific age group, geographic location or industry?
- Differentiation: What sets your business apart from the competition? This could be unique technology, pricing, customer service or other factors.
Example: “TechCo specializes in budget friendly software tools for small businesses. Our flagship product is a project management system that helps entrepreneurs track tasks and manage team collaboration. We target businesses with fewer than 50 employees, with a special focus on retail and consulting firms. Our key differentiator is our simple, user-friendly interface and our low-cost subscription model for businesses with tight budgets.”
3. Market Research and Analysis
You need to show you understand your market and competition. You don’t need a full market analysis here but a high-level overview will demonstrate you’ve done your homework and are entering a viable market.
What to include:
- Industry overview: Briefly describe your industry. Are there any current trends or challenges worth noting?
- Market size: How big is the market for your product? Are there clear opportunities for growth?
- Competitive landscape: Who are the main players in your industry and where do you sit in relation to them?
Example: “According to Statista, the global small business software market will grow 10% annually to $40 billion by 2027. Small businesses are adopting cloud-based solutions to increase efficiency. While competitors like ABC Software and XYZ Solutions dominate the market, we offer a more affordable option for smaller businesses that don’t have the resources to invest in high end tools.”
4. Products/Services
This section provides more detail on what you offer. You need to convey how your product or service works and how it solves a problem for your customers. You’ll also want to touch on your pricing model and what sets your offering apart.
What to include:
- Product/Service details: A short but thorough description of your main offerings.
- Pricing strategy: What’s your pricing model? One-time payments, subscription service or something else?
- Future developments: If relevant, mention any future features or products you’ll be introducing.
Example: “TechCo offers a project management tool to streamline business workflows. The system combines task tracking, team messaging and document storage in one platform. We offer a subscription model with pricing starting at $10 per month for basic features and $30 per month for premium. We’ll add time tracking within the next 6 months based on customer feedback.”
5. Marketing and Sales Strategy
How do you get customers to your business? Your marketing and sales strategy should be tailored to your target market and designed for growth. A good marketing strategy uses digital channels and a strong sales strategy converts prospects into customers.
What to include:
- Marketing tactics: What strategies will you use to reach your customers? Digital marketing, word of mouth or partnerships?
- Sales approach: How do you convert leads into paying customers? Free trials, demos or consultations?
- Customer retention: How do you keep your customers once they’ve signed up? Regular updates, customer service or loyalty programs?
Example: “TechCo will use digital marketing channels like Google ads, Facebook campaigns and SEO to attract customers. Our sales approach will be a 14-day free trial to encourage sign ups, followed by personalized onboarding to ensure customers see value quickly. We’ll keep customers engaged by sending regular updates and offering customer support via live chat.”
6. Financial Plan
While your financial projections don’t need to be as detailed in a one-page business plan, a brief overview of your revenue model and funding needs is necessary. Investors will want to know how you make money and how much capital you need to get started.
What to include:
- Revenue model: How does your business generate income? Products, services or subscription model?
- Startup costs: Any upfront costs to launch the business, software development or legal fees?
- Funding required: If you need external funding, how much capital are you looking to raise and how will you use it?
Example: “TechCo will make money from subscription fees for our project management software. We estimate startup costs at $50,000 which will cover software development, marketing and operational costs. We’re looking for $100,000 in investment to grow our team and accelerate our marketing.”
7. Milestones and Timeline
Here you’ll list the key milestones you hope to hit in the coming months or years. This provides a roadmap for the business, showing your focus on growth.
What to include:
- Milestones: Major goals you want to achieve in the next year or so. Product launches, customer acquisition targets or revenue goals.
- Timeline: When you plan to achieve each milestone.
Example: “Our first-year goals include 500 paying customers, $10,000 monthly revenue and mobile app launch. By month 6 we’ll have 100 customers signed up and our mobile software live.”
8. Team and Key Roles
This section doesn’t need to go into too much detail but is important to show who’s involved in the business and their roles.
What to include:
- Team members: Key team members and their roles in the company.
- Relevant expertise: Their experience or skills.
Example: “TechCo was founded by John Doe who has over a decade of software development experience and Jane Smith who has a background in digital marketing. John oversees product development and Jane handles marketing and sales.”
9. Conclusion
End your one-page business plan with a brief summary and call to action.
What to include:
- Confidence in execution: Your plan is solid and achievable.
- Call to action: For investors and partners to take the next step.
Example: “With our product, team and roadmap we’re well positioned to make an impact in the small business software market. Join us as we change how small businesses manage their operations.”
Final Thoughts: It may seem easy to write a one-page business plan but it requires you to be concise, clear and strategic. This document isn’t just a summary of your ideas it’s a tool to get buy-in from stakeholders and stay on track as you build your business. Be clear and purposeful and make sure the plan reflects your vision for growth.
By following these steps and being intentional with your content you’ll have a one-page business plan that will set your business up for success in the eyes of investors and in execution of your business goals.