The exception is if you’re presenting to an investor, customer, or potential partner/employee.In these scenarios, you need a complete and up-to-date business plan that follows a standardized format.
This is a bite-sized description of your business that explains your unique approach AND leaves the reader’s mouth watering.
Here’s an example from a winner of Geek Wire’s 2012 one-sentence pitch competition: The rest of your executive summary should briefly explain your company’s story and introduce your specific products/services/locations.
Here’s all the common ways entrepreneurs write business plans today: Regardless of the medium you choose, or whether you’re writing a one-page or full-length business plan, there’s 9 key components all business plans include.
While all of these should be considered, you may emphasize, skip, or move around some sections depending on your particular situation: The first part of your business plan is a brief summary of your business: Start it off with your 1-sentence pitch.
Then, illustrate the process with a simple graphic like the one above.
Entrepreneur Patrick Fitz Gerald explains this in more detail, and provides more examples, in this video lecture.
If you want a fast and easy way to make a business plan, check out Live Plan.
It walks you step-by-step through building a one-page business plan using prompts, definitions, and video and text tutorials.
Explain your accomplishments so far, and outline what you hope to achieve in the near future. For example, framing your business as a “More than 40% of the United States is rangeland used for livestock, and the top concern of the ranchers who tend to them is ensuring an adequate supply of water…
Every day, the rancher checks the water levels of his or her 20 to 30 water tanks.”So begins the business plan of Barn Owl Systems, a finalist in the 2016 Wharton Business Plan Competition.