Successful people use the one page business plan over and over again as a recurring planning instrument for proposals, marketing, performance, and project planning.
However, we believe the strength of the plan is in the constants of it. Once people get accustomed to a specific planning process, it can be used over and over again, creating a large amount of clarity through an
organization. In today’s world, there is not anything that we compete on more than transparency.
How to Write a One Page Business Plan for Your Own Business
- 1 How to Write a One Page Business Plan for Your Own Business
Write Your Goals and Vision Statement
Goal-setting is one of the most powerful success techniques for every entrepreneur. Whether it’s for your business, personal relationships, health, or finances.
Goals are powerful motivators, they build self-confidence because they give you a way to measure
your progress and take pride in your achievements. Setting goals also raises your self-confidence as you recognize your ability and competencies to achieve specific goals that you have sense.
Write About Your Targeted Audience
Who is your targeted audience? The question may seem necessary, but your target audience should be the foundation for any marketing strategy.
Considering the few questions will help you narrow down your focus to keep your marketing campaign specific:
- Are you targeting business to business or business to consumer?
- What is the age of your target audience?
- Where does your target audience live in rural or urban areas?
- What is the average income of your target audience?
- What is your audience’s ethnicity?
- Is your target audience predominantly male or female?
Also, you need to include what does your audience
wants? Different people want different things, so finding out what’s relevant to your target audience will help you negate, which offers to promote and how.
Social media is also a great avenue to explore when discovering your target audience.
Social media provides insight on what content your users respond to as well as revealing their age, gender, geographical region, ethnicity, and their current usage times.
Write Unique Selling Proposition
Why should people buy from you and not from anybody else? The unique selling proposition is a kind of resume.
Still, instead of presenting your education, knowledge, experience, and accomplishments, you focus more on the way these facts will help you, and especially your customers.
You don’t have to make it public, but it’s crucial to have it as it offers you huge benefits.
USP shows your weak areas where you need to make adjustments, and once you solve these problems, it reminds you of the quality you provide your customers with. It gives you valuable content for the materials you need for sales campaigns, advertising, and marketing.
Basic rules for a USP:
- It must be something that you know is true, and you believe in it.
- It should create some form of emotion in the reader.
- It must communicate instantly just what the USP is.
- It should be specific.
- It should be concise.
- It should have real meaning.
- An important note of a unique selling proposition does not mean a permanent unique selling proposition.
Always have something up your sleeve to offer your customers and that way, you will have a leader’s advantage and have something to release in response to a competitor’s latest move.
Write Marketing Strategies
There are many types of plans to promote your company’s products or services.
A marketing strategy is an approach to market or promotes the business products or services to confirm transactions that will keep the company viable. There are eight types of plan you
can consider for your business;
- Paid advertising.
- Cause marketing three.
- Relationship marketing.
- Undercover marketing.
- Internet marketing.
- Transactional marketing.
- Diversity marketing.
You can find many marketing strategies by
searching online blogs and videos.
Write Product Operational and Management Tasks
What is an Operations plan? In short, it lays out the who, what, when, and how of your daily operations over the next year.
Every day your activity will answer questions like;
- Who should be working on what?
- How do we allocate resources for an assignment?
- What risks do we face at present?
- How can we mitigate those risks?
Also, you have to focus on all management tasks for your business like;
- Forecasting the future.
- Motivating employees.
- Staffing and controlling.
- Internal and external negotiations.
- Help your employees improve and succeed in the development plan.
- Implement pay-for-performance to reward good performance.
- Improving and maintaining efficiency.
Write Strengths and Weaknesses
No person in this world is perfect. Everyone has his or her strengths and weaknesses.
The person who is aware of his or her strengths and weaknesses is always more likely to succeed.
To know your strengths and weaknesses, you need to perform seven tasks;
- Backup your assumptions.
- Collect quantifiable data about your sales trends customer base and employee retention.
- Compare yourself with competitors, look at your customer base, vendors, location, employees, internal processes, and products and compare these factors with your competitors.
- Seek an objective opinion and write down how you can improve your weaknesses.
- Review actual financial results like profit and loss statements.
- Compare performance to industry averages.
- Notice competitor’s complaints.
To determine what your strengths you could begin by asking some of the following questions;
- What are customers interested in your company or product?
- What does your company do to be better than other companies in your industry?
- What are your most positive brand attributes?
- What’s your unique selling proposition?
- What advantages do you have that your competitors don’t have?
Also, ask questions to determine your company’s weaknesses;
- What do your customers dislike about your company or products?
- What issues are often mentioned in your negative reviews?
- Why do your customers cancel or churn?
- What could your company do better?
- What are your most negative brand attributes?
- What are the biggest obstacles or challenges in your current sales funnel?
- What strengths do your competitors have that you don’t have?
Write Business Objectives
To write one page business plan businesses need to have a clear objective that outlines their approach for carrying out the daily running of the business.
This ensures that they remain on the right track in terms of business, which is a long way to increase the amount of revenue generated.
First, answer some questions like;
- What results will you measure?
- What did your growth in sales last year?
- What do you want to achieve sales this year?
- What other goals do you have for your business?
- Don’t have goals yet?
Getting very focused and specific is a key ingredient to your success. Prioritize them and clearly state them.
To write business objectives, you need to focus on
these 10 things;
- Getting and staying profitable.
- Productivity of people and resources.
- Excellent customer service.
- Employee attraction and retention.
- Mission-driven core values.
- Sustainable growth.
- Maintaining a healthy cash flow.
- Dealing with change.
- Reaching the right customers.
- Staying ahead of the competition.
Try to work a plan that is action-oriented that is goals focused that top of mind every day. Working your business in this way increases the potential for your short term and longer-term success.
Don’t let that plan become static.
Make it a living.
Let it encourage you to improve it.
Update it and enhance it as you move on your road to success.
Having a one page business plan is one of the most important steps a firm might take in order to keep track of the present performance and sketching out what the company needs to achieve in the future.
Business plans can help a firm create a mission statement and then follow it until they stand on a firm foundation and years of experience.