Princess Leia: This is some rescue! You came in here, but didn’t you have a plan for getting out?

Han Solo [pointing at Luke Skywalker]: He’s the brains, sweetheart!

-Star Wars: Episode IV

Only in Star Wars can you easily get away without having a plan, in real life, having a plan is crucial to collect your thoughts and to avoid costly mistakes. Preparing a business plan will help set your business off on the right foot. Although many different models of business plans are out there, I find that they are either too long or too focused on aspects that are really not that important, so I came up with the following 1-page business plan to be efficient and to help you really conceptualize your business. The Bankrolled 1-Page Business Plan contains the following sections:

1. Product and service offerings;
2. Market overview;
3. Strategic edge;
4. Initial requirements;
5. Pricing strategy;
6. Marketing plan;
7. Financial forecasts and goals;
8. Research and development; and
9. Business challenges and solutions.

Click here to download the Bankrolled 1-Page Business Plan.

1. Product or service offering

This section explores what your business will be selling. Describe your products and services, and their particular traits.

2. Market overview

This section explores the size of the market in which your business will be operating, both on the customer and supplier sides. On the customer side, how many potential customers are there for your products and services? What types of products and services are customers looking for, and how much do they normally spend on them?

On the supplier side, what are the major businesses currently operating the market and their particular traits? If you have any knowledge of their annual sales, you can put this here. But, the most important point is to identify what they are selling, at what price, and what are the main traits of those competing products and services.

3. Strategic edge

This section explores the advantages which your business has over its competition to enable it to succeed. How will your products and services be different from those being sold by your competitors? Remember this can be either a difference in the actual products or services, or in some other aspect of their sale, for example, your business’s location as compared to that of your competitors. In addition, how do you intend to maintain such an edge over time?

4. Initial requirements

This section explores what your business needs to get up and running. It should cover both any types of business tools and services (i.e. website, warehouse, retail location, etc.) your business will need as well as any start-up capital requirements. In addition, this section should list the source of this requisite start-up capital (i.e. loan, self-financed, outside investors, etc.)

5. Pricing strategy

This section explores the prices at which your business will sell its products and services, and how such amounts have been determined. This should also contain how your products and services will be sold (i.e. retail, wholesale, direct-to-consumer, etc.) as well as your anticipated gross sales margins.

6. Marketing plan

This section explores your business’ marketing and advertisement strategies. How do you intend for potential clients to learn about your business is offering and what mediums will be used to that effect? Try to list out here where you intend to concentrate your efforts early on.

7. Financial forecasts and goals

This section explores what sales volume you forecast for the six-month, one-year and three-year marks, and what needs to be earned in profit at each of those intervals for you to deem your business it a success.

8. Research and development

This section explores the improvements you want to make to your business’ offerings over time. How will you go about making such improvements and how much time and what types of investments will be required to achieve them?

9. Business challenges and solutions

This section explores the challenges that you anticipate your business will face and how you intend to overcome them. Like anything else, taking the time to anticipate the issues early on will be a big help in dealing with them when they pop up.

After having completed each of these different sections, you should now have a fairly good graph of the main aspects of your business. Happy writing and best of luck!