December 30, 2024 - 11:29
Is a 14-page business plan necessary, or does a one-page plan work? This question has sparked considerable debate among entrepreneurs and business strategists. In a recent discussion, experts Eric Rehling and Matt Mittman explored the merits of both approaches, emphasizing that the choice largely depends on the specific needs and goals of a business.
A traditional 14-page business plan typically offers a comprehensive overview, detailing everything from market analysis to financial projections. This format can be beneficial for startups seeking funding or partnerships, as it provides potential investors with an in-depth understanding of the business model and growth strategy.
Conversely, a one-page business plan is gaining popularity for its simplicity and ease of use. This format allows entrepreneurs to distill their vision into essential elements, making it easier to communicate their ideas quickly and effectively. Rehling and Mittman argue that for many small businesses, a concise plan can be just as effective, if not more so, than a lengthy document.
Ultimately, the decision between a 14-page and a one-page plan should align with the entrepreneur's objectives, audience, and the complexity of the business itself.
