Some entrepreneurs spend days — even weeks — perfecting their business plan. But when you’re the only person in your business, or you’re managing a small team, time is money. You might not see ROI for blocking off 4 days on your calendar to write a business plan.
We recommend a lean approach that saves your brainpower (and sanity) for growing your business. That’s not to say you should forgo a business plan entirely; it has an important place in your strategy. But for most entrepreneurs and startup founders, a slim, condensed, one-page version will do just fine. Here’s what to include.
Give a brief one- to two-sentence summary of the business and the big idea. This is a great place to copy-and-paste your elevator pitch if you already have one.
Build Impossible is a membership platform for entrepreneurs and aspiring entrepreneurs who have an idea but need support and resources to turn it into a thriving business.
Keep it simple. You should be able to describe the problem you’re solving in a sentence or two. Hone in on the pains it causes your target market.
Launching a business requires knowledge across all of a business’s disciplines – marketing, finance, ops, sales, and more. No entrepreneur knows how to do it all, and MBAs are expensive and take too long. The entrepreneurial journey can easily become lonely and daunting.
Directly answer this question: How do you solve the problem you described above? Connect the problem and your approach to solving it as much as possible.
Our platform combines educational resources, proven tools, leadership coaching, and access to an entrepreneurial community network to make the entrepreneurial journey easier.
Be short and sweet but specific; if your audience is too broad (all Americans, everyone, women, etc.) it’s going to be clear you haven’t honed in on your true target. If you’re struggling to wrap your mind around your target audience, grab the Build Impossible User Persona Template to get started.
Current and aspiring entrepreneurs in the U.S. and Canada with teams of 5 or fewer
Even if you’re creating a new category, you have competition. List any big players in your space as well as broad competitive categories.
The internet is rife with continuing education resources, but few options pair tools and tech with coaching and community. Other competitors include MBA programs and business consultants.
Define your business model and how you make money. Give an overview of your revenue streams, like direct sales, white-label sales, strategic partnerships, subscriptions, etc.
Build Impossible sells directly to users via monthly subscriptions to access content and services. Three tiers are available to provide support at all parts of the entrepreneurial journey and all revenue levels.
Briefly describe your general approach to marketing and any resources you’re using to inform your approach.
Build Impossible leverages existing entrepreneurial networks to reach potential members. We also contract with a digital marketing firm to target and re-target users on social media.
Keep this category broad – what are the biggest things you’re investing in (or need to invest in) to run this business well? Consider human resources, technology, hardware, and contractors.
Build Impossible’s most significant investments are in tech/development, content creation, and expert-level coaches for our community to access.
This section doesn’t need page-long bios or a list of the degrees your team holds. Simply note who is driving the ship and what qualifies them to do it.
Build Impossible was founded by BIG, a new venture growth lab with a proven framework for turning high-potential ideas into sustainable companies. The Build team is led by senior coach Christine Hart, an entrepreneur and coaching platform veteran, and supported by content and marketing specialists.
What are your goals? Where are you aiming to be 6 months, 1 year, and 5 years out? Is your business seasonal?
We plan to spend the next 6-12 months building a base of members and then launch paid offers and services, such as 90-day group coaching programs that include peer groups and accountability partners, in 2022.