Business Plans — slides
Financial Literacy Club
Entrepreneurship · Lesson 9
Business Plans
A one-page plan that forces clear thinking.
12-minute lesson · learnwithflc.org
Business Plans · 1 / 17
Financial Literacy Club
Entrepreneurship · Lesson 9
Business Plans
A one-page plan that forces clear thinking.
12-minute lesson · learnwithflc.org
Today's goals
By the end of class, you'll be able to…
- Build a one-page business plan
- Treat a plan as a list of assumptions to test
- Include key risks and a plan B
Warm-up
If you had to explain your business idea on one index card, what would you write?
Think, then write your answer.
The big idea
Business Plans
A one-page plan that forces clear thinking.
Entrepreneurship · Lesson 9
A business plan doesn't need to be 40 pages. For a new business, a one-page plan is often better: it forces you to be clear, and it's easy to update as you learn.
Entrepreneurship · Lesson 9
The point isn't to predict the future perfectly. It's to write down your assumptions so you can test them — and notice when one turns out to be wrong.
Entrepreneurship · Lesson 9
Update it monthly
Cross out assumptions you've proven or disproven. A plan that never changes probably isn't being used.
See it
Problem, target customer, solution, how you make money, costs, how you'll reach customers, key milestones, and biggest risks.
- 1
Problem
What pain are you solving?
- 2
Customer
Who has it most?
- 3
Solution
What you offer and why it's better.
- 4
Revenue
Price and how customers pay.
- 5
Costs
Fixed and variable, plus break-even.
- 6
Reaching customers
Your main marketing channels.
- 7
Milestones
What you'll accomplish, by when.
- 8
Risks
What could go wrong, and your plan B.
Real example
Marcus's one-page plan
- Problem: students' white sneakers get dirty; cleaning them well is hard and shops are far away.
- Customer: students who wear white sneakers to events.
- Solution: 24-hour cleaning with pickup at school. Revenue: $12 standard, $20 rush, $30/month Clean Club.
- Costs: $5 per pair; $300/month fixed. Break-even: 43 pairs/month.
- Reaching customers: before-and-after posts, referrals, weekend market.
- Milestones: 60 cleans in October; 15 Clean Club members by December.
- Risks: summer slowdown; school rules on selling at school. Plan B: partner with a local shop.
Activity · small groups · 15 min
One-Page Plan Sprint
- Groups use the one-page plan sections from the lesson for a business idea from earlier lessons.
- Each section gets no more than three bullet points.
- Groups circle their riskiest assumption and write how they'd test it in two weeks.
- Groups swap plans and give one question and one suggestion.
Check for understanding · 1 of 3
What's the main purpose of a one-page business plan for a new business?
- ATo predict exact profits for five years
- BTo write down clear assumptions you can test and update
- CTo impress people with length
- DTo avoid talking to customers
B. To write down clear assumptions you can test and update
Early plans are hypotheses. Writing them down makes them testable.
Check for understanding · 2 of 3
After two months, you learn most customers want a subscription rather than one-time purchases.
What should happen to your plan?
- AIgnore it — the plan is final
- BUpdate the revenue section to reflect what you learned
- CStart a completely new business
- DHide the plan
B. Update the revenue section to reflect what you learned
A plan should change as you learn. That's how it stays useful.
Check for understanding · 3 of 3
Naming your biggest risks in a business plan makes the business look weaker, so it's better to leave them out.
- True
- False
False
Naming risks — with a plan B — shows clear thinking and helps you prepare.
Remember
Key takeaways
- One page beats forty for a new business.
- A plan is a list of assumptions to test.
- Include risks and a plan B.
- Update it monthly.
Discuss
Talk it over
- Which section of the one-page plan would be hardest for you to fill in? Why?
- Why might a long, detailed plan be less useful than a short one early on?
Exit ticket
Why is a one-page plan better than a 40-page plan for a new business?
Answer on your exit ticket before you leave.
Nice work today.
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learnwithflc.org/courses/entrepreneurship/business-plans
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