One page business plans are magical concepts people talk about when writing a business plan to promote their business. They think it’s an excellent way to go straight to the point, and they believe it will make them save a lot of time because, well, just one page is easy to write. Right? In the end, the idea sounds pretty clever. But is it?
Let’s be honest. One-page business plans sound sexy.
Something like that, yes.
Still, they are also a massive trap for entrepreneurs and business owners who believe that one page will be a quick and dirty path to success.
Simply put? It’s usually pretty dirty, but it’s rarely quick, and it’s generally dangerous if you are not equipped with the right tools and background information.
Now, no need to run away! The exercise in itself is not as complicated as it sounds. Provided, of course, that you have a template to follow and a framework to work with. Luckily for you, we at Impactified have built a few tools you will be able to use to get where you want to get.
First, note that this article is part of a free and comprehensive series of business plan writing blog posts (Oh yeah!) that we’ve made available on the Accelerated MBA blog. We’ve worked really hard to make your life easier there, so give them a look!
Second, and that’s clearly a shameless plug, if you are still wondering how to write your business plan without losing your time (and breaking the bank) after reading our free content, we have also designed a best-selling Business Plan Builder module and tool. That comes with two hours of tutorial videos AND the only template you’ll ever need to get your document ready in no time.
Ready to keep going? Great.
So, in this article, we’ll explore the question of how to make an effective one-page business plan, and we’ll help you understand what options you have if you plan on introducing your business to investors, bankers, or bankers with a one-pager.
First, I’ll explain why one-page business plans can be a trap, and I’ll give you the two situations where they could be efficient. Then, to help you build your one-pager, I’ll also explain what your basic business plan should include. And, well, I’ll try to make sure you understand what you’ll be missing out if you don’t try to look beyond just that one-pager you’re thinking about writing.
Shall we?
The one-page business plan: there’s a catch!
So on paper, one page business plan templates are a rather seducing idea. Truth be told, a nicely designed and convincingly prepared one-pager can be a real tease for an investor or a partner. However, the format is not suitable for everyone, and it doesn’t work in every situation either (more on that later).
Yet, in reality, the topic is a lot more complex than this. Believe it or not, the work needed to develop an excellently written, perfectly shaped, and flawlessly understandable business plan that fits on just one page is a lot more significant than people think, and that can lead to risky situations.
Reason number one, not every interlocutor will be receptive to a one page business plan.
Yes, investors and partners might look through it and feel excited by the idea if they see potential in your business idea, in which case they could be inviting you to pitch in more depth. There, however, you would absolutely need to provide them with a much more detailed business plan because just one page won’t be enough.
Your banker, however, is very unlikely to be receptive to just one page made out of bullet points and illustrations.
Why? Because they typically don’t give a damn about your idea. Excuse my French; I’m just trying to save you time here.
Bankers are rather interested in selling you small business loans (or larger ones, depending on your size) so they can get make a profit (the interest rate). Hence the only thing they want to see is if your business will be able to repay the loan asap.
To that extent, they will want to see some accurate information about your market, your business model, and of course, your financial projections.
And by financial projections, we mean your financial business plan, including your income previsions, your cash flow estimates, and your overall financial plan with your various funding needs.
As far as a banker is concerned, therefore, a one-page business plan template might not be the most appropriate way to convey that message.
Besides, even if it did, your banker would still ask you for the comprehensive format of a traditional business plan, which means that you’d have to work on that whether you like it or not.
But it makes sense! Think about it.
Nothing is surprising there, however. Think about it for a moment.
Did you really think that those who give great public talks just come in and improvise straight from the scene? No way, right? Does it look like improvisation specialists and stand-up comedians invent every joke as they say it? Of course not. Would you be taking any politician seriously (okay, that could be a joke) if they came to you to pitch you an idea without preparation? Nah.
A clear pitch and a good joke always have three things in common: preparation, preparation, preparation. And, well, the same goes for business plans.
An excellent one page business plan should be a precise and coherent summary of a well-prepared plan. Failing which, you are likely to burn yourself with whomever you talk to. And that’s because the only thing they will see and remember is that you came unprepared and made them lose their time.
To get your business plan on one page, you first have to go through the whole process. That’s the catch, and that’s the best option you have if you want to be taken seriously.
Three reasons why a one page business plan is rarely enough
- Not every interlocutor will be receptive to a one page business plan
- You can only get a one-pager right if you have a real plan to showcase
- It’s also a great way to burn yourself for good
Three situations where a 1 page business plan can be efficient
Now let’s be honest, a 1 page business plan could make sense in three specific cases.
Case one: you already have a business plan ready, including a carefully crafted pitch and all the information needed to back up that pitch in front of an investor.
In that kind of situation, a 1 page document can be an excellent way to tease the right interlocutor. Buuuuut, it has to be sharp. It has to be very specific. It has to be damn well prepared. It has to come together with a much more comprehensive format or pitch deck that you’ll need to use immediately to pitch your business case. And you must, of course, be prepared to leverage all that.
Said differently? The best way to write an effective one-page business plan is to have a clear plan for your business and turn your executive summary into a visual one-pager.
Case two: all you have is an idea of a possible business. There, a 1 page business plan would typically be a very visual document you would be able to use to support your first pitch and get some preliminary partners on board. The question is, what would you expect to get based on such an introductory pitch?
Think about it this way: would you put any money on “just” an idea, without a proof of concept and the slightest trace of a product-market fit? Hmmm. Would anyone just put money on you based on a single page, just because it’s a startup business plan? Hmm.
Case three: your plan is based on a lean business plan canva, which is mostly a question of placing post-its on a blank page using a codified template. To get there, though, you’ll have a lot of preparation work to do, hence the one page will take a lot of work to build
Three cases where a 1 page business plan could work
- The 1 page business plan is a teaser based on a very comprehensive work
- The point is to pitch a preliminary idea & see if anyone bites
- It’s a lean plan type of document, but…
How to create a one page business plan?
So, how to write a one-page business plan, then?
Well, all this being said, let’s assume that you really want to opt for a one-page business plan – what are the key points you should absolutely consider and leverage to get prepared properly? What should your basic business plan include? Here’s some tips you should consider.
1. Remember what the goal is in the first place
The first thing you’ll want to consider when building your one page plan is the purpose of a business plan – short or long. Regardless of its size, a business plan has a precise role to play for your business and the people you want to pitch to. And you want to make sure that you are well-aligned with that.
There is no need to explain what a business plan is for in this article since I’ve done that previously. Please follow the link.
In a nutshell, though: a business plan is a storytelling tool that you should use to show that you have done some serious business planning and that you know precisely where you are going.
Long or short, it thus has to show that you know what you are talking about and that you have done some serious research and planning as to what potentially comes next.
2. Format vs. content: don’t fall into the trap
The second thing you’ll want to consider is whether your basic business plan should be basic in terms of format or content and insights.
I’m just going to rephrase what I just wrote. Still, just so you and I are very clear, the above means that just a document – let alone a one-page business plan – is a-bso-lu-tely pointless if you don’t have a business with a plan to talk about in the first place.
Whether you are a small business or a larger one makes no difference. Regardless of the number of pages (see also: How long should a business plan be?), just a document has no value. Business planning is about content and substance first, formatting only comes second.
3. There is a codified structure to follow
The third major point you need to consider if you want to give your one-page business plan a chance is that a standard business plan usually follows a very codified structure. Hence, professional readers will expect you to elaborate on your business based on that precise structure. Period.
Need a list? We wrote a full article on the topic (see: Business Plan Outline, Business Plan Format… What Does a Business Plan Look Like?), but here’s the core section list you’ll need:
- An executive summary
- A big picture presentation of the issue solved by the business
- A description of your offering for a specific target market (market analysis, competitive analysis, value proposition…)
- A go-to-market strategy presentation
- An operations presentation
- A management team presentation
- Your financial projections and the corresponding financial documents
Again, I’m not going to explain more right here. So instead, read the dedicated article for more information, and make sure that your one-page business plan presentation covers the 80/20 of that list.
Your one-page business plan should…
- Show that you are serious about your story!
- Show that you have a clear market and competitive advantage
- Never confuse format with substance!
- Go through the standard components of a business plan!
The real question is… does your business have a plan at all?
To wrap up? A one-page business plan can be efficient in very limited circumstances. Namely, if you merely want to pitch an idea and see if people bite. Or if you’re going to tease people with something short and sexy while being ready to bring in the infantry without delay if anyone gets hooked by your quick pitch. However, these won’t work with every interlocutor, so your job is to adapt.
Having said that, the real purpose of working on a business plan is not to produce a silly pdf; it is to make a difference by building a strategy that can genuinely take the business to its next level.
What products or services? With what innovation? What uniqueness? What target market? What customers? What sales expectations, for what marketing plan and budget? What go-to-market strategy?
That’s many questions!
Therefore, the one million dollar question is not whether a one-page business plan is acceptable or not. Instead, it is to figure out whether you have a plan for that business of yours and then turn that plan into a story you’ll be able to summarize, into an executive summary, into a page. And again, you can find tips on how to write an executive summary for your business plan here.
So. Do you?
Any one-page business plan template available?
Based on everything we’ve just said, creating a one-page business plan template is a bit difficult. If you really (really) want to stick with one page and nothing more, the best option would be to use a PowerPoint presentation or Canva to make something very visual, summarise your idea, and use it as a support tool while you pitch.
But, do NOT write a full page of black on white text.
Seriously!
The Business Plan Builder: 2 hours of tutorial videos and the tools you need to get started
If you are looking for an efficient and easy-to-use business plan template and framework to build and write your business plan, we – at Impactified – have made The Business Plan Builder – THE tool you have been dreaming of.
The Builder comes very handily, in the shape of a Module built around over 2 hours of explanatory videos and a package you’ll be able to use to
- Figure out what you need to figure out – powerful, uh?
- Understand the business plan code
- Write your business plan – with just the right amount of words and pages
- Build your financial estimates – with an automated table
- Create a visually appealing (designer-made!) document and deck people will want to read
If you want to stop wasting your time, this is THE most simple business plan template and you can’t afford to miss it! What are you waiting for?
