Last updated May 24, 2022
What is a One Page Business Plan?
LawDepot’s One Page Business Plan is a concise document used for outlining all the core information about your business to assist you in pitching your business to potential investors. This simple, succinct business plan has eight main sections:
- Business description
- Business opportunity
- Business solution
- Competitive advantage
- Target market
- Promotions
- Financial summary
- Funding
A One Page Business Plan can help steer your business forward and inform others of your plans. It's useful if you're launching a new company, transitioning from freelancing to owning a small business, or wishing to recreate, improve, or organize your current business.
A Business Plan is also known as a:
- Business Proposal
- Marketing Plan
- Business Strategy
- Marketing Strategy
- Sales Plan
If you prefer a more in-depth plan that serves as a tool for internal decision-making and business proposals, try the long version of our Business Plan.
Who should use a One Page Business Plan?
New and existing business owners, including sole proprietors, general partners, freelancers, limited liability company (LLC) members, and corporations, should have a Business Plan to map out their company’s goals and strategies for achieving them.
A One Page Business Plan is useful for any business owner in any industry wanting to provide a succinct view on their business’ fundamental elements. You can use a One Page Business Plan to present your ideas, sales projections, and plans for achieving your objectives to potential investors for funding purposes.
How do I write a One Page Business Plan?
You can easily create a customized One Page Business Plan by filling out LawDepot's questionnaire. Using our template will ensure you complete the necessary steps:
Start your One Page Business Plan by providing your business’ name and address.
If this is a new business and you're still deciding on a name for it, consider choosing a catchy name that reflects your brand identity and service. It's also a good idea to pick a unique name to avoid confusion or legal disputes with another business. Performing a business name search can ensure the name you choose is sufficiently different from other businesses.
You should also register your business name with the appropriate agency. There are multiple ways to register a business name; which method applies to you depends on your business structure and location.
If your business doesn't have a physical location yet, use one of the owners' home addresses or an ideal proposed location. If you use a proposed location, specify that the address is 'tentative' or 'proposed' so it isn't misleading.
2. Describe your business
Your One Page Business Plan should include a description of your business. A description makes it clear to potential investors what purpose your business serves. Some valuable information for your business description includes:
- A brief description of the product or service you offer
- The year the company was founded
- The inspiration for creating the business
3. Include a logo (optional)
If you have a logo you’d like to include in your One Page Business Plan, upload it, and it will appear next to your business name and address.
4. Explain the problems your business solves and how it will do so
Think about why there’s a market for the products or services your business provides and include the reasons in your One Page Business Plan.
Describe a problem your potential customers may be facing and how your business solves it for them. For example, a problem people in your area may have is the displeasure of doing their own landscaping and yard work. If you own a landscaping company, your business solves this problem for customers and therefore is in demand.
Some details about your business that you may consider including are:
- What is the company’s main product?
- What does the product do?
- Is there a technical aspect that distinguishes the product from the competition?
- What is unique about the service your company offers?
- How does the product address demand in this marketplace?
5. Describe your competitive advantage
Your business' competitive advantage is the aspect that gives it the edge over your rivals. Ask yourself what makes your business better and more profitable than the competitors, and include your answers in your One Page Business Plan.
6. Detail your target market
A target market is a group of customers you expect to buy your products or services. This can be a wide range of people or a particular group depending on your business type.
Consider these factors when determining who your target market is:
- Demographic: age, gender, and annual income
- Type of customer: general public or commercial customers
- Location: local, municipal, regional, or national
Promoting your business is how you plan to market the products and services you provide and persuade customers to choose your company.
There are many different strategies you can use to promote your business:
- Digital Advertising: website, Google ads, etc.
- Email marketing: newsletters, brand stories, etc.
- Social media
- TV or radio
- Print: magazines, flyers, newspaper ads
Include as many of these promotion strategies in your One Page Business Plan as you intend to use for your company.
8. Outline your funding (optional)
When you’re using your One Page Business Plan as part of a pitch for funding from potential investors, state how much money you’re seeking and how you plan to use the funds.
Some common reasons for seeking funding include:
- Starting the business
- Addressing cash flow problems
- Expanding the company or hiring more employees
- Buying property, equipment, or machinery
9. Provide a financial summary of your business
The purpose of a financial summary is to inform potential investors about your business' financial situation.
Important information you may want to have in your summary includes:
- Debt and equity from operating expenses
- Financing
- Profitability
- Financial statement forecasts
- Growth projections
Finish your One Page Business Plan by providing contact information so the recipient of the document can contact your company if they have any questions.
The contact person should be the business owner, manager, or any representative knowledgeable about both the business and this Business Plan.
How often should I update my One Page Business Plan?
Your One Page Business Plan should be a working document that always reflects your business's current and future direction. How often you update your plan will depend on your situation. However, it's a good idea to revise it as your circumstances change periodically.
If you're using your One Page Business Plan to pitch proposals, you may find yourself tailoring your document on a case-by-case basis for specific investors.
