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One-Page Business Plan to Jump-Start Your Start-Up

By September 11, 2018 No Comments

Business Plan for Start-UpsBusiness plans come in all shapes and sizes, depending on their purpose. Lenders typically require much more formal and detailed business plans, complete with financial projections, tax returns, and other financial records and disclosures attached. The Small Business Administration (SBA), in particular, since it guarantees government-backed loans, expects to see a voluminous and detailed business plan and presentation. Just when you think you have it nailed, they are likely to ask for some more documents.

Venture capitalists and investors will eventually want to see all the details of your plan, but initially, they are going to want to see a presentation that captures their imagination. Some just want you to get right to the numbers—or at least that’s what they say. Read “Pitch Anything,” by Oren Klaff, though, before you buy that line.

Marketers and agencies who’ll be running your campaigns, on the other hand, will want to know all about your ideal clients/target audience, unique sales proposition, competitors and the like, but won’t care at all about your personal tax returns from 2008.

So, if you are getting ready to start a business, do you need a business plan? And if you do, what type of business plan, exactly do you need?

The answer to the first question is: Yes, you need a plan.

Think of it this way. If we were to start out on a road trip, let’s say from St. Petersburg to Las Vegas, and we just hopped in the car and began driving without a map or a GPS or any directions at all, we might eventually wind up in Vegas. Or not. Of course, if we did make it, it would take you a whole lot longer, and we likely would wind up going down many, many wrong paths and getting lost before we got there.

But, if we put the address to our destination in the GPS and let it map out the exact route, well, we still might take a wrong turn here or there, but we’d likely course-correct pretty quickly and get back on the right road faster. In no time (35 hours, exactly, if we didn’t stop), we’d end up in in Vegas, partying our asses off at The Bellagio.

It’s the same with a business plan. We could build a business without a plan, but with a plan makes a whole lot more sense.

The next step, then, is to decide what kind of plan you need. If you are seeking funding, then you need to find out from the potential source of your funding what they would expect to see in a plan because, as stated earlier, lenders and investors can be picky.

If, however, you just need a plan for YOU, and you really aren’t that great at planning or excited about it, then try this simple, one-page business plan to help you get started.

Set aside a morning, with a fresh cup of coffee and no distractions, to work on your simple plan. The purpose of this plan is to help you get your business idea down on paper and out of your head so you can start assessing its viability.

This is not a be-all-end-all plan, it’s a starting point. Over time, you may want to elaborate on this plan. When you are ready, you can check of resources like SCORE, a service of the SBA designed to help small business owners with issues like preparing business plans, or you can buy a few books (there are many on Amazon), or simply Google “business plans for small businesses,” and you’ll find lots of options.

Ready to get started? Click here for your plan.