Entrepreneurs who have a business idea but don't want to spend hours crafting financials and executive summaries may benefit from writing a one-page business plan.
June Davidson of American Seminar Leaders Association presented a format to the Pasadena chapter of CEO Space hosted by Donnie Knips and included five important sections: the Vision Statement, the Mission Statement, the Objectives, the Strategies, and the Plans.
June advises that the vision statement is what the business will look like in a few years or in a decade. She suggests writing in a paragraph the name of the company, the number of years to build it into a successful local, regional, or international company and the niche it serves.
This describes why the business exists from the customer's point of view. June says attempt to use only six words and describe why your business exists.
"To inform, inspire, entertain," explains the writings for Donsimkovich.com.
A service business may write, "Providing quality and lasting value."
These are measurable results and what the business must achieve to be successful. Four to eight goals to measure success may include: sales, profit before tax, gross profit, number of customers, average dollar amount per sale, and number of billable hours.
Strategies state how the business will be built and managed. There are five to eight things the business must do extremely well over time to be successful.
June suggests, "Serve customers with [blank], [blank], and [blank] needs."
Target [specify] markets.
Promote business by [state activities].
Positioning: Become locally known, regionally known, or nationally know for [blank].
Revenue Model: Generate revenues by [activity one], [activity two], [activity three].
Use strategic partners to [achieve something specific].
The business must complete six to eight business-building projects.
The one-page business plan won't be thorough enough to attract investors or bank financing, but it is complete enough to serve as a blueprint to guide the development of a profitable business idea.
June Davidson is an accomplished entrepreneur. Visit her website for details on how to turn knowledge into a seminar for pay.