Writing a business plan can be a headache if you have so much scattered details in your head. This is the reason lots of entrepreneurs don’t pay attention to this, and in the end, it creates so many problems for them.
So today we are not only going to share with you how you can write a business plan but also it is going to be just a one-page business plan. Keep reading and don’t forget to tell about your views in the comments section, reserved just for you.
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A Flashback of the One-Page Business Plan
If you are confused that you have heard of the business plan but what exactly is a one-page business plan, well, it’s not a myth.
One page business plan simply focuses on the core aspects of the business. It is different from the traditional business plan in this way. So you can also say that it is a summary of the conventional business plan. But the one-page business plan has so many added benefits like it is simple to present, it has available pitch, and it is very focused and to the point business plan.
The next thing is how you can write a simple one-page business plan?
Follow these simple steps to write a perfect comprehensive business plan.
1Identifying the Problem
“Need is the mother of inventions.”
The first step towards writing a one-page business plan is to write about the description of the problem your customers have. Basically, at this step, you are going to write about the identification of need of your target customers.
For example, you can think of making a product like three wheelchairs for disabled people that can help them crossing the stairs and such hurdles etc. So at this point write about the problem your customers have, and they can’t cross the barriers easily with standard Wheelchair.
2Writing the Solution
After the identification of the problem, the next step is to move on to the solution. As a problem is not a problem if you have the solution. So write about your product or service which is going to solve the problem.
Also, write how it is going to solve the problem. For example, in our model of a Wheelchair (given above), the solution to the problem is to introduce a three-wheeled chair. Because of three wheels, it will help the disabled persons to move smoothly. Write in brief about your solution to the problem which you have written in step 1.
Once you have figured out the problem as well as the solution, the next step is to move forward to making a business model. Don’t worry; it is not going to be rocket science. All you have to do is to write down that how you will make money, and You will simply write the answer to this.
For instance, in our example mentioned above at this step, we’ll determine the cost of making one Wheelchair and the price we are going to charge for one Wheelchair. And simply price – cost = Profit margin.
It is important to note that while determining the cost also include the selling cost; you are going to make for the product.
4Target Market and Competitive Advantage
At this step, you have to think about the market which you are going to target. And also about the competitive advantage, you might have. To answer the question of how to identify the target market, simply identify your broad audience. Or in simple words, determine who is your customer and how many of them.
For example, for a three wheelchair, our customers are disabled persons, and there is a vast market for the disabled ones (in a supporting context). To analyse the competitive advantage, you have to keep in mind your strengths and your competitor’s weaknesses.
5Financial Summary and Funds Requirement
Last but not least is mentioning the financial summary and the funds’ requirement. At this point, simply include the economic matrix, cash flow, balance sheet and forecasting of sales. Also, analyse that do you have sufficient funds to make the specific product or do you need fundraising. You have to be clear and specific about this at this point.
If you need to raise the amount from investors, then how much is required and from where you can have the deficit amount to support your business plan.
In this article, we have tried our best to provide you with all the information which is needed while making a short one-page business plan. We have also given an example to elaborate in the best and easiest possible manner.
We hope that the article was interesting and informative for you. As your suggestion matters for us so please give your valuable suggestions in the comments section given below.