This transcript was generated from the episode audio and may contain minor errors.
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I once published a one-page business plan. It was included in the book, $100 Startup, the $100 Startup. A lot of people have used and referred to that book and that plan over the years, a one-page business plan. What do you really need to get your business up and running? You definitely don't need a 50-page business plan because most of what you write is probably not gonna end up being true.
You have no idea what's gonna happen once you open your doors, right? So today, our caller wonders, like, what is essential about this plan? And can you really explain an entire business in a few paragraphs? Well, I believe that you can, especially when it is a new idea and you're like, I'm gonna try this thing. Here's what I need to know.
Here's what I need to communicate. What is it that makes a business? Essentially, it's a product or a service, a buyer, and a means to exchange money, like a way to exchange money for goods or a service. So is this kind of business plan, is it still relevant? What is essential?
Like, what's different in the world of AI, et cetera? I mean, is anything different in terms of this? Not really, but let's break it down. How is it possible to devise an entire business on less than one page? And might this help you move forward if you were stuck somehow, if you're, like, overwhelmed and there's just so many options and steps and you don't know what to do?
Let's give you a simple one-page plan, all right? Let's talk about a detailed question from our caller and my answer coming right up. [Music]
Hi, Chris, this is Craig, and I've been following your project for years. Long ago, you published a one-page business plan that got a lot of attention. I recently read the $100 startup and came across it, though I think I'd already seen other people talking about it elsewhere.
I'm wondering what the most essential info is with such a short business plan. Aren't most of them a lot longer and more detailed? Why do you think it's possible to have all the info you need in such a short amount of space? [Music]
Well, thank you for the blast from the past. If you wanna see the original one-page business plan, if you don't have a copy of the $100 startup, I think you can go to 100startup.com, like 100startup.com.
Then there are some resources links and it should be there. Now, just a disclaimer, I made that website a long, long time ago. So it either looks really bad or it's not up now, but if you Google one-page business plan, Chris Guillabough, most likely you'll find it. Some other people over the years have made some similar templates and tools. So if you wanna see mine, be sure to include my name.
But basically, it just asks you to fill in the blanks with the answers to some pertinent questions. And the questions are simply things like, what will you sell and who will buy it? And these questions, as I say, so simple, but a lot of people come to me with business ideas and they start their pitch and I'm like, okay, cool, interesting, but they don't actually have the answer to those questions. And it's kind of essential, right? Like what are you gonna sell, who's gonna buy it?
And so the next section of the one-page business plan is about pricing. What will you charge? How will you get paid? How will you determine your price? And if you're not sure, just put something down, right?
And then how will you get paid? Okay, you're gonna set up a checkout link somewhere, or maybe there's some other process, but basically just making a decision there. Then there is a marketing section all about hustling, right? And a section where you define the success of the project, because ultimately it's your side hustle. People do these things for all kinds of different reasons.
What does success look like for you? And so if you have the answers to these questions, I really believe that you do have the essence of your idea that you can move forward with. And yes, you can spend more time on details and thinking through lots of other parts of the process. But again, in essence, that is the design of a business from idea to offer to income, which is what I wanna help you do. That's why we have these short action-packed daily episodes that will all give you a little tip or a point of inspiration or a story to help guide you along.
And just to encourage you and let you know there's a whole bunch of people out there who are all trying to do something similar. You're not alone, and this is possible. Like, this is possible. It can be possible for you. I wanna share your success story.
All right, that's it for today. Listeners, if you have a question or a comment, sidehustleschool.com, download or stream the entire archive of the show, 3,000 plus episodes, always free. You can also subscribe or follow wherever you get your podcasts. I'm so grateful to make the show for you every day. Much more is coming up.
My name's Chris Guillebeau. This is "Side Hustle School." [Music]
From the Onward Project.
