A new business idea has sparked in your head, and you are ready to move forward? Or perhaps you have been running your business for a while and thinking of progressing to a different stage?
Having a clear direction supported by exact steps is crucial for any business. And that is the exact job of your business plan. Writing a business plan does not have to feel like that task you always try to avoid. Think about it as a support document that keeps you on track, keeps you in line with your vision – especially if you are a small business owner and you tend to wear multiple hats. To sidetrack is a natural thing to do, and the business plan is the element that helps you stay in your field.
What exactly is the one-page business plan?
A business plan is a document which outlines your business future. Your goals, your mission and vision, complete with exact tasks and how to achieve them. A one-page business plan is a simplified version of a traditional business plan. It is your strategy for the future. The one thing you need to include in your one-page business plan is to answer this simple question:
“What are you trying to achieve?”
Is the one-page business plan a good idea?
Yes. Whether you decide to stick to one page or develop it further later down the track, it will provide a solid base for your extended standard business plan.
Your business plan is a living document, as your business grows, you can always align your content according to your situation. The one-page business plan provides you and your potential stakeholders with the highlights of your business, it is easy to read, and it is an excellent tool to showcase your idea and remind yourself what to focus on.
What features should a one-page business plan include?
Keep in mind, a clear and precise outline and direction of your business is the key: no lengthy explanation, no unnecessary details. Get to the point and remember, it is called a one-page business plan for a reason.
The structure of your plan should include:
- Company Name
- Business overview
- Your mission and vision statement
- Your goals for the future and what you are trying to achieve
- Your marketing efforts
- An action plan with due dates.
ATO and the Australian business government site provides lots of resources on how to create a business plan or even use one of their templates as a starting point and reduce it to one page only.
How can QC Accountants Help?
Here at QC Accountants, we understand every business is different. We’re here to help you as we know that sometimes you just need someone who understands your situation. We can get you started with your one-page business plan.
We are available on email ([email protected]) or telephone (07 5593 6060).