Word bank: assumptions · business · monthly · risks

1. One page beats forty for a new .
2. A plan is a list of to test.
3. Include and a plan B.
4. Update it .

1. 1. What's the main purpose of a one-page business plan for a new business?

   • A. To predict exact profits for five years
   • B. To write down clear assumptions you can test and update
   • C. To impress people with length
   • D. To avoid talking to customers

2. After two months, you learn most customers want a subscription rather than one-time purchases.

   2. What should happen to your plan?

   • A. Ignore it — the plan is final
   • B. Update the revenue section to reflect what you learned
   • C. Start a completely new business
   • D. Hide the plan

3. 3. Naming your biggest risks in a business plan makes the business look weaker, so it's better to leave them out.

   True/False

1. 1. Turn this into a testable assumption: “Students will love our service.”

2. 2. Name one risk and a plan B for a summer lawn-care business.

1. 1. Which section of the one-page plan would be hardest for you to fill in? Why?

2. 2. Why might a long, detailed plan be less useful than a short one early on?