Why all businesses should create a business plan
For startups and enterprises alike, there are many reasons to create a one-page business plan. For example, it can help you:
- Show your progress and how you intend to grow: Your business plan lists vital information on your company, such as your goals, market research results, and success milestones.
- Determine a realistic budget to ensure success: If you don’t create a proper plan, you might underestimate fixed and variable costs and, therefore, lack the financial capacity to succeed.
- Provide concrete information to potential investors: By having a detailed business plan in place, you’ll be able to effectively convey your business goals to internal stakeholders, and you’ll stand a better chance of winning over investors.
- Fulfill the requirements for securing a business loan: Many financial institutions won’t even consider giving you a loan without seeing your plan.
Should you create a business plan from scratch?
You can do this, but it’s often more hassle than it’s worth. If you’ve never made a business plan before, you’ll need to do a lot of research on what to include and ensure you create a professional and eye-catching document.
If you download our free one-page business plan template, you’ll save time and ensure you cover every relevant detail.
How to use the one-page business plan template
Here are the steps for filling out our template:
- Enter your contact details to download the template in Microsoft Word or as a PDF.
- Gather your relevant business documents, such as market research results and financial statements, in case you need to include details from them.
- Add information to all the fields, including Company Description, Target Market, Industry Analysis, Implementation Timeline, Funding Required, and Financial Summary.
- Get feedback from business partners, employees, or other parties to ensure that all information is correct and up to date.
- Proofread to ensure there are no errors. These look unprofessional, leaving a bad impression of your business.
- Save your business plan in various locations and formats. This helps you share your plan with stakeholders via email or present it at company meetings.