In Part 1 I explained why you only need a 3-Page Business Plan that addressed 3 Critical Factors and answers 6 questions for each.
In this post I outline my suggested structure for each page…
The first page should be about the marketing aspects of your business. This section should clearly outline the target market, the marketing message and how the message will be delivered to the target market.
There’s no point having a great product or service if it becomes the world’s greatest secret and nobody knows about it or wants it.
The questions that need to be asked under each of the six headings include:
- Who is the target market?
- Who will actually buy the product/service?
- Who is responsible for getting the message to the target market?
- Who are your main competitors?
- What need does the product/service fill for the customer?
- What is the best medium for reaching your target market?
- What testing has been done to test the market for acceptance of the product/service and the price points?
- What is your key message?
- When will they buy it?
- When is the best time to deliver your marketing message?
- Where are they located?
- Where will they see it?
- Where will they buy it?
- Why will they buy it?
- Why have you chosen this target market?
- How will you get your message to the potential client?
This page details the product/service and how it is to be delivered to the customer. There is no point undertaking an extensive and successful marketing campaign if you can’t deliver a product or service to meet the clients’ expectations.
- Who will be responsible for the production/delivery of the product/service?
- What are the key features of your product/service?
- What benefits are associated with your product/services?
- When will the product/service go into production?
- Where will the product/service be produced ?
- Why have you chosen this product/service?
- Why is this product/service better than your competitors’?
- How will you deliver your product/service to your customer ?
- How has the product been tested?
The financial page addressed whether you have enough funds to produce the product/service and how much you expect to make from it. After all there’s no point producing and selling a great product or service if it sends you broke! Some of the questions that need to be considered include:
- Who will be responsible for managing and monitoring the financial position of the business?
- What funds will be required to start producing and marketing the product/service?
- What margins are expected to be made on these products/services?
- What is the breakeven point In terms of volume and value?
- What are the credit terms for sales and purchases?
- When will funds be required?
- When do you expect to be cashflow positive?
- Where will the funds come from (e.g. debt or equity)?
- Why will a bank or investor back your venture?
- How will you monitor the performance of the business?
- How much working capital will be required In the setup phase?
The 3-Page Business Plan provides business owners and stakeholders with a succinct focused plan of the objectives of the business.
It will help gather momentum, not dust.
Your 3-Page Business Plan allows the business owner to identity areas where there is a need for assistance from people with more relevant expertise and experience in a particular field. In a recent new venture I sought marketing input from several parties who each had expertise to help develop an overall plan and to supplement my own limited knowledge.
Once your 3-Page Business Plan is completed, then the detailed operational plans can be developed based on a focused vision of what is to be achieved.
What have your business plan experiences been? Share in the Comments below and feel free to ask questions about the 3-Page Business Plan format and approach.