If you’ve started—or are starting—a small business, you’ve probably heard the words ‘business plan’ thrown around. That’s because a business plan is an important document with important information! Even a one-page business plan can help you address key questions early in the planning process.
That’s right—we said one page. In many cases, there’s no need for a supermassive document that takes ages to create. In this article, we walk you through what a good business plan needs—and what a business plan one-pager should contain.
Whether you’re writing your business plan for the first time or giving your existing plan a refresh, we’ve got your back. We’ve even got a free, downloadable business plan template to help you get started. Let’s get into it!
Why do you need a business plan?
A business plan is a blueprint for your business. It outlines everything your business needs, from goals to market to the steps you need to implement.
Business plans serve two main purposes:
- To help you set your business up for success. As you put together your business plan, you’ll be forced to think strategically about all your business goals and activities. Are they realistic? Is something likely to go wrong? What haven’t you thought of? The goal is for you to walk away feeling confident in the future of your business.
- To communicate the value of your business to others. It’s rare that entrepreneurs like yourself will go it 100% alone. You’ll likely work with partners, investors, or vendors to bring your small business to life. A business plan gives your collaborators confidence in you and your business and helps them support you in the best way possible.
Taking the time to create a business plan can feel like you’re wasting all-too-precious time, but it can help keep you focused and increase efficiency down the road. It’ll also help you make better business decisions off the bat so you can grow your small business quickly and wisely.
What are the 7 main points in a business plan?
Every business plan is unique, which is part of the reason writing one can feel a tad overwhelming. You can’t just copy and paste the plan from another business—instead, you need to assess your business’s idea within its niche.
Luckily, the skeleton of every plan is usually very similar. Whether you’re creating a plan for a neighborhood daycare or that cool new bar down the street, here are a few main points to put into any comprehensive business plan.
1. Executive summary
Your executive summary is an overview of your business plan.
Think about this section like a TL;DR or too long, don’t read. If someone wants to understand the gist of your business plan in just a few minutes, what information would they need to know?
| Tip: If you find yourself just sharing your executive summary with your business’s interested parties, it may be that your business plan is too long! Consider a one-page business plan as your business’s elevator pitch, or a longer executive summary. |
2. Company overview and description
In this section, you should introduce your business to the reader. By the time they finish reading this section, they should have a good idea of who you are, what you do, and what you sell—in other words, your business’s niche.
Don’t be afraid to dive into your own background and why you decided to start this business. Building a small business is personal, and your story can go a long way in giving the reader some context.
3. Market and competitive analysis
Every business needs customers. Here’s where you’ll detail who they are and the potential target market of your business, including your ideal customer.
You’ll also want to take note of potential competitors that may impact your business. These might be direct competitors, but could also be similar businesses that may compete for your customers’ time and money. For example, if you’re opening a cycling studio, you might consider any other type of fitness studio to be a competitor.
Competition isn’t a bad thing, but being aware of your competition is one way to ensure your business stands out from the crowd.
4. Business offerings
Here’s where you’ll outline what products or services your business will offer in more detail. It doesn’t have to be a complete laundry list, but it should give readers a general idea and show a certain degree of forethought and attention to details.
For example, if you’re opening a bakery, this might be a sample of your menu. Or if you’re an HVAC repair company, you might share an overview of the services you’ll offer your customers. This section might even mention the products or services you won’t offer and why, especially if it helps clarify how your business is unique.
5. Management and operational plan
From managing employees and inventory to securing equipment and a lease, there’s a lot that happens behind the scenes to keep things running smoothly. Every business plan should touch on how you’ll manage the day-to-day of your business.
This is also a great place to indicate key milestones and timelines so you know that you’re on track for a successful grand opening.
6. Sales, marketing, and PR strategy
Now that you’ve got all the research and operational plans in place, it’s time to start attracting customers and securing those sales. Even with the best products or services in town, every business can use a little marketing boost. Feel free to get creative. From social media to paid ads, there are tons of ways you can spread the word about your budding business.
7. Financial forecast and budget
No one loves to crunch financials, but when it comes to business, money talks. And a strong financial plan is key to the long-term success of your business.
This final section of your business plan should estimate the costs, revenue, and profits of your business in the short and long term. How do you plan to finance your business? What costs will you incur before opening day? What are the ongoing costs?
Not only will this give your vendors and investors confidence in your business, but it helps you make sure that your business is profitable in the long run.
What is a one-page business plan?
A one-page business plan is essentially a condensed version of a full business plan.
It covers all the core information about your business without overwhelming the reader with details. The goal is to summarize your business plan for yourself and potential stakeholders so they can understand your business at a glance.
Depending on your business needs, this concise document may even be all you need to get your business off the ground. Or it could serve as a stepping stone to a more robust plan in the future.
Top benefits of a one-page business plan.
Bigger isn’t always better—and one-page business plans are here to prove it.
Here are some benefits and reasons why you might opt for a one-page business plan:
- To kickstart your business planning: A full business plan can be incredibly daunting. A one-page business plan gives you a place to start without feeling overwhelmed with the nitty gritty.
- To share and distribute: Sometimes potential vendors, partners, or investors want to get more information about your business before they sign on officially. Instead of leaving them with a massive document, a one-page business plan helps you share the relevant need-to-know information easily.
- To focus on the key details: If you’re early on in the business ideation process and want to make sure you have all the important information, a one-page business plan can help you easily validate your business plan.
- To save time: In the long term, you may still expect to put together a full business plan at some point. However, if you’re in a time crunch, a one-page plan can help you get the important insights without the time commitment.
- To easily edit: In an ever-changing business environment, a one-page business plan is much easier to keep updated.
Key details to include in a one-page business plan.
Above, we outlined the key components of any business plan. The key with a one-pager is to keep it brief without losing any of those important details.
Let’s look at the sections of a business plan one-pager and dig into how you can adapt them to cover all the details of your business—all on one page.
Summary and overview
Start your one-page plan by sharing the name of your business, what you do, and your main value proposition.
The problem—and your solution
In a few sentences, share the problem that your business solves and how you solve it. This clarifies why your business should exist, so it’s an important section!
Depending on your business, you may also want to share a few of your team members to help readers put a face to your business. Great examples include the executive chef for a restaurant, or the lead veterinarian for your vet clinic.
Target market
Briefly describe who you expect to be a customer and their characteristics. This could be in the form of a short “ideal customer” profile.
Competitor overview
Here, you’ll touch on potential competitors and what makes your business stand out.
Business timeline
Share the key milestones for your business. For example, pitch when you’ll start marketing your business, when you’ll hire employees, and when you expect to open.
Sales and marketing plan
Here, you’ll quickly highlight the key marketing activities that you’ll use to drive new customers to your business. Try to stick to the most interesting or high-value stuff, like a website or social media.
Financial projections
Outline your expected revenue, expenses, and profits to give the reader an idea of your financial future.
Our tips for creating a one-page business plan.
If you’ve ever written something with a limited word count, you know that sometimes keeping things concise can be easier said than done.
As you get writing your one-page business plan, here are some of our top tips so you can make the most of that one page.
- Focus on the need-to-know information.
- Avoid fluff and keep your sentences short.
- Link out to additional resources and material if more information is necessary.
- Don’t be afraid to strategically incorporate visuals to emphasize the important points.
- Feel free to up sections or have different versions of your one-page business plan based on who’s reading it.
- Get creative with formatting to keep information organized.
One-page business plan example.
If you’re skeptical that all that information can fit on one page—we have proof! Here’s an example that you can use to start thinking about your business plan.
Download our free one-page business plan template.
A one-page business plan is one of the most important pages you’ll write for your business. While there’s a lot to think about, it’s worth the effort to give both you and your partners peace of mind.
The good news is that we’ve done the heavy lifting for you! If the above one-pager looks good to you, we’ve pulled it together as a download for you. All that’s left for you to customize it for your unique business, fill in the sections, and get ready to launch your business.
Download your one-page business plan template PDF
Download your Homebase One-Page Business Plan Template Word document
| Get the all-in-one app to manage your team and your business
As you think about starting your business, think about how you’re going to keep track of your team! Get your business on track with one app to manage everything from employee scheduling to team communication. Try Homebase today! |
One-page business plan FAQs
Why should you create a business plan?
There are several reasons you should create a business plan, such as:
- Improving your decision-making as you start and grow your business.
- Setting realistic goals and timelines.
- Attracting top-notch suppliers, investors, and even employees.
- Keeping your business profitable and your financials in order.
What types of companies need a business plan?
From brand-new small businesses to established corporations, companies of all shapes and sizes need a business plan. It’s a key part of setting your business up for success and improving your business trajectory.
Even if you already have a business plan in place, revisiting it from time to time can help you stay on track with your goals and adapt as your business changes.
Can a business plan be one page?
Yes, in many cases a business page can be one page. The trick to creating an effective one-page business plan is making sure that you’re covering the most important pieces of information.
Our top tips? Keep it as concise and organized as possible, so you can effectively communicate the value of your business to your audience.
Writing a one-page business plan is simple. You can create a business plan from scratch or use a free template like the one above to stay on track, but generally, the steps to writing a one-page business plan include:
- Start with a short executive summary and value proposition to introduce your business.
- Share the problem your business solves and your solution.
- Give an outline of top competitors and how your business compares.
- Create a timeline of key milestones.
- Outline your sales and marketing plan for attracting customers.
- Summarize your financial projections and funding plans.
Remember: This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.
