Last updated July 18, 2023
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.
