The One Page Business Plan.
Today I will be talking about the One page Business Plan, a document that will guide you and serve as your reference point in starting a Home Based Business. Most people will say it doesn’t matter, why write a business plan, after all it’s a small business, a home based one at that here is why it matters
Why you need a Business Plan:
-It helps you concretize your ideas and gives a big picture of where you want to go.
-Assists you to itemize what you need to be doing per time.
-The business plan gives you the opportunity to identify who your customers are and how you intend to reach them hence helping you define your niche.
-It gives you an idea of your market size and how many portions of that market you can get, thereby determining your market size.
– Helps you to determine your startup costs and your breakeven point thereby indicating when you start turning a profit.
-Finally, it helps give you a sense of what you expect your income to be and what to price your products.
Having listed the above reasons, here is description of the one-page business plan and what it contains;
Before I go ahead, a disclosure, I got this template from another Blog the 100startup.com by Chris Guillebeau who is the author of the $100 dollar startup a book that chronicles interviews on people who started a business with 100 dollars or less.
I am acknowledging what the owner did by allowing me to download from his site. I will only modify some aspects of the template and use it. Having said that let’s get to it.
The one-page Business Plan is a simple Template that makes it easy for anyone willing to start up a home business to jump right in and start. If you want the template you will get it right after the post series finishes.
The template requires that you write whatever you need in the business plan in two short sentences, it’s like the elevator pitch of your Home Business. It’s often said that if you can’t summarize your business plan to an investor in the time it takes for you to ride an elevator from one floor to another then you haven’t figured out what you should be doing. In other words, cut the crap out and get to the meat of the Matter.
The one-page business plan is divided into 5 different parts namely: The overview, Ka-ching, hustle, success and obstacles/ challenges. I will start by treating the first 2 in this post, in my next post I will deal with the remaining 3.