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Patrysha is back with us again to share her tips for creating a one-page business plan. Unless a small business needs bank loans or is engaging in a more traditional business structure, a formal business plan may not be necessary. Instead, small business owners can easily craft a one-page business plan that will keep them focused on their mission.
The one-page business plan enables business owners to write out a plan for serving their idea customer by solving that customer's problem in a unique way and through a specific process. This system will bring in revenue, but will also have at least some costs associated with it that should be offset by the revenue.
Patrysha and I discuss the steps necessary to crafting this business plan and why it's important in the context of your business ideas, and why a business plan isn't a document you create and never look at again. Your business plan will help you chart your journey and find the gaps in your course, whether you're just starting out or have years of experience.