When a business owner wants to attract a business partner or hopes to raise investment capital, he or she needs a way to show where the company is headed. A business plan is the right tool for the job.
Many entrepreneurs don’t have business plans because they are unsure about how to begin, and the process seems terribly time-intensive. But, a business plan doesn’t have to be elaborate. In fact, the trend is toward something simple.
Have you heard of a one-page business plan? It is certainly a far cry from a traditional business plan that often runs 15 to 50 pages. A one-page plan is specifically requested by some investors, because they find it difficult to read all of the investment proposals that come to them.
The One-Page Business Plan
Proponents of a one-page plan believe there’s a great deal to be said for brevity. Most investors have neither the time nor the inclination to read more than the absolute essentials.
For instance, a one-page business plan is likely to describe:
- The customer needs that your business addresses
- Your products or services
- Your principal customers
- Your chief competitors
- Your competitive edge
- How you make money
- Your management team
- A financial summary
- Your funding request
If you provide all the information on the list above, it’s likely enough for the typical investor. So, let’s focus on how to get all of the facts onto a single page.
For starters, don’t worry about writing complete sentences, and don’t spend time trying to make your plan look stylish. Commit to simplicity. Waste neither words nor space. For example:
Customer Need that the Business Addresses: LED lighting solutions for a variety of manufacturing applications
Products Sold: LED assemblies customized to a manufacturer’s specifications
Principal Customers: Warning Lights of North Georgia — 13% of annual sales; no other customer is > 5% of sales
Once you have compiled all of the information, consider hiring a professional to improve the presentation. A talented graphic designer can turn your information into a much more attractive page in a couple of hours by using business-appropriate spacing, fonts and icons that provide some visual interest.
As an alternative, software packages are available that provide templates for one-page business plans. Just answer the questions at the interactive prompts. It’s an easy, albeit more expensive, way to get started.
With a 20-year record of success, The One Page Business Plan Company is a testament to the power of the single-page approach. Its software solutions are cloud-based. If your business is ready for something more than the bare essentials approach, its one-page templates can help you develop:
- A vision for your business success
- A mission statement
- Objectives
- Strategies
- Action plans
If you would like to get an example of a one page business plan that Trillium has used for clients feel free to send us an email request and we will send it out to you in a Word template form.