The 7 components of a one-sided business plan

So you have a business idea. Next step: take it to the investors. But to convince them to invest, you need a strong proposal. This proposal is known as a one-page business plan, or a written document that outlines your company’s core goals and how you intend to achieve them.

Your business plan doesn’t have to be lengthy – often a one-sided business plan is enough to describe your company’s core goals and how you intend to achieve them.

A proper one-sided business plan consists of seven components:

• Business goals
• Competitive analysis
• Target market
• Business structure
• Products and services
• Marketing plan
• Financial analysis

Here we explain what these seven components are and guide you through the creation of a one-sided business plan.

1. Business goals

Company goals are the concrete and measurable results that a company wants to achieve over a certain period of time.

By setting strong business goals, you can clearly define what your company needs to be successful and bring teams together to achieve a common goal. If you are looking for a financing option, the objectives can also be used to argue for financing and the impact of the investment.

It is best to write SMART goals (specific, measurable, achievable, realistic and time-based). The purpose of SMART goals is to give your teams a sense of a unified purpose and direction that can be followed over time.

Imagine you want to open an online vintage clothing store. You know the bottom line is to make a profit, but how do you get to that point? Design SMART goals to guide you towards a profitable business model, such as:

• Earn 10 consignment sellers by the end of the third quarter.
• Achieve a net income of $ 30,000 by the end of the fourth quarter.
• Sell ​​inventory at a 60% sustained rate.

2. Competitive analysis

A competitive analysis gives you a snapshot of your top competitors with their strengths and weaknesses. Competitive analyzes show you the profitability of your company compared to other, similar companies.

A comprehensive competitive analysis goes into a lot, from tracking a company’s organizational structure to its pricing model. But for a one-sided business plan, you only need a general summary. The best place to start to identify your top competitors is to google the keywords you are about to bid on or are currently bidding on. Take a look at the companies’ websites that appear on the first page and identify their strengths and weaknesses.

For a one-page business plan, translate your findings into short bullet points. If we think back to our example of an online vintage clothing store, your bullet points might look like this:

• Beacons closet: New York curated vintage store with a huge following on social media
• The RealReal: An upscale, second-hand e-commerce site with a focus on designer goods
• Depop: An affordable online marketplace for younger consumers

3. Target market

Your target market is made up of the people who are most likely to buy your product or service – your ideal customers.

Think about it: you can’t sell a product or service until you know there are customers out there who want to buy it. Define your target market to find out who your customers are and why they need your product.

Investors want to know that you have thought about your target market and know exactly who you are going to sell to – an understanding that can aid you in your marketing decisions.

We recently looked at creating a buyer persona for your company. Typically, a buyer persona is a one-page document of its own that portrays an imaginary person who embodies your ideal customer.

For a one-sided business plan, you don’t have the space to share your full buyer personas. Instead, list your buyer personas as descriptions in one sentence. From there, identify your target market based on the qualities or traits that unite your buyer personas.

To continue with our vintage clothing store example, our buyer personas could look like this:

• Nancy the pensioner, 66, comes in weekly to shop for specials on nostalgic clothing from the 1950s when she was a kid.
• Colin the studentThe 20-year-old loves browsing clothes racks for unique disco-inspired pieces to share on TikTok.
• Tobi the collector, 50, has an impressive collection of vintage leather bags and buys new items every week to add to her collection.

4. Business structure

Investors want to see that the people running your business have the knowledge and experience to be successful. Your business plan should include a description of the key people and how they work to build a thriving business.

Even if you are the only person in your company, it is a good idea to refine this section to get a snapshot of how your company is working. Develop short bios for each person who runs your business and list each person on a bulleted list.

Consider our example of a vintage clothing store. The business structure could look something like this:

• Ellen Smith, Owner and Operations Manager: Smith received an MBA from Columbia in 2006. Smith previously founded the dog food company PupWorks and grew it into a national franchise in less than a decade.
• Lilly Barnes, Buyer and Marketing Manager: Barnes studied Fashion Merchandising at FIT and earned a BA in 2008. Barnes was previously the director of marketing at Kate Spade.

5. Products and Services

The Products and Services section of your Unilateral Business Plan is an opportunity for you to describe the products or services your company offers and their impact on the market.

The detailed presentation of your products and services underlines the value of your company and demonstrates its competitive advantage over other companies. Investors interested in your business will use this section to see what niche your business proposition fills.

With a one-sided plan, you run out of space. So don’t focus on listing every product you offer. Instead, describe the logic of why you offer certain products or services, explain your pricing model, and explain how your offerings differ from those of the competition.

In our vintage clothing store example, the general view of your listings is simple: vintage goods. However, for the complete picture, consider a quick paragraph that explains what types of goods you carry, how to maintain your inventory, your pricing structure, and how to order online. Here is an example:

“We buy and sell vintage items and specialize in designer clothing and accessories from the 1950s to the Y2K fashions of the early 2000s. Our inventory comes directly from individual sellers and we offer instant cash for their products. Our inventory is being sold for 30% below market value. Online orders are processed within 72 hours of purchase and customers receive tracking and tracing as soon as their items have been dispatched. “

6. Marketing plan

Your marketing plan, also known as a marketing strategy, is a detailed outline of how to reach new customers with information about your products or services.

Use this section as an opportunity to teach potential investors how to reach new customers in your market. Think back to our example of a vintage clothing store: it doesn’t matter if you wear the in-demand Chanel and Dior if no one knows you exist.

Describe how you will market your product or service with a simple bullet point. Make sure you address the following:

• Advertising budget, advertising budget
• Your company’s marketing channels, such as email and social media
• Advertising measures, such as special discounts or offers
• Advertising like Google ads
• Printed materials such as flyers or business cards

7. Financial analysis

A financial analysis in a one-sided business plan provides a snapshot of your company’s current and future financial condition.

Your financial analysis tells investors whether your business is or will become profitable. This section may be the most difficult for you to pin down because there are so many metrics out there that are helpful in understanding a business’s profitability.

For this reason, we recommend that you focus on business metrics that underline your financial projections.

• Net Profit Margin: How much sales you get and how much sales you count as income
• Accounts Payable: A look at your invoices and how quickly you can pay them
• Total debt to total assets: Compares total debt to assets

Put your one-sided business plan into action

A one-sided business plan leads you to your goals and can serve as a stepping stone to action. Once you’ve devised a one-way plan, you have a roadmap for success right at hand.

Next, work on your business goals and implement your marketing plan. Use the Buffer homepage as a landing page to test language, services, and branding ideas before pushing them over to your actual website. The homepage is designed to be flexible with your changing business needs and can be customized to match your branding. As a bonus, Buffer members get free access to the homepage with their membership.