In today’s fast-paced business environment, entrepreneurs need clear, concise planning tools that can guide decision-making without getting lost in excessive details.
In this article, we will walk you through the five components for creating a one-page business plan.
1. The Business
In this section, clearly articulates the nature of your business, what you offer, and the market you serve. It’s the foundation upon which everything else is built – a concise statement of who you are and why you exist in the marketplace.
2. The Product/Service
Here, spotlight what you’re selling by emphasising the problem it solves or the pain point it addresses. This isn’t just about features – it’s about articulating the transformation your offering brings to customers’ lives.
3. Marketing/Sales
Outline your primary strategy for reaching customers and generating revenue. Will you rely on intensive publicity campaigns? A vibrant sales force? Email marketing? In this section, explain how you’ll connect with customers and convert those connections into sales.
4. Operations
Focus on one or two critical operational areas such as your organisational structure, human resources plan, key personnel, product delivery systems, or customer support protocols. This helps readers understand how you’ll execute your vision day-to-day.
5. Financial Summary
Present the financial highlights from your complete business plan, ideally with visual aids like graphs showing your five-year projected profit and loss. This gives stakeholders an immediate sense of your business’s financial trajectory.
This article is extracted from The Small Business Handbook. Get a copy to get more practical insights about starting and running your business in Nigeria.
While the one-page format makes business planning more accessible, first-time entrepreneurs without financial or business planning background should consider seeking expert assistance.
Contact us to get professional guidance to help you ensure your plan is realistic, comprehensive, and positioned for success.
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