There was a time when business plans were anything from 75 to 100 pages but today 10 to 15 are considered too long.
If you’re hungry for your piece of the business pie but don’t want to spend a couple of months playing hit and miss with investors and potential customers then a one page business plan could be the answer you’ve been looking for.
With simple, to-the-point methodology becoming the norm, many entrepreneurs have turned to one-page business plans in order to get their businesses off the ground faster instead of opting for a detailed and time-consuming approach. Some of the many advantages to this approach are:
• Since your ideas are fluid and changing all the time, it’s easy to update
• It provides clarity to whoever is reading it as important information sticks out
• It’s a good way to generate interest around a business concept
• It offers a more affordable approach to product testing and development
• It helps get your entire team onboard with the company vision and goals
• With the plan having very specific goals you can create a straight-forward strategy around each of them.
When writing a concise business plan the most effective sections to include are:
1. Vision. Your vision should get you fired up, be short and to the point.
2. Mission Statement. Your mission statement will describe what you do, what your product/service is and who your customers are.
3. Objectives. Jot down your business goals for the next week, month or year. Try and keep it to a few bullet points.
4. Strategies. Provide some insight into how you plan to achieve your objectives. Again, find the best way to summarise these points using short sentences.
5. Action Plan. Explain the steps you will take to action your strategies and remember to add dates to these items to give yourself a deadline. Stick to bullet points in this section too.
LEAP is all about assisting entrepreneurs get their fledgling businesses off the ground, so if you need some help or guidance why not give the experts a call.