Create A One-Page Business Plan For Your Side Hustle

So You’ve decided to do a side hustle to reach whatever financial goal you created. Some will have money goals, travel goals, and like me,  plan to fire their boss in a year or two. Well, goals that aren't written down are dreams. If you plan on turning your side hustle into a full-time gig and starting your own business, you should start off with a business plan.

Oh Em Gee! Really?! A business plan?! Aren’t they like thirty pages long, boring, and have graphs? I promise you,  big named companies like Target, Amazon, and Apple weren’t only successes due to ideas of the creator’s thoughts. They had to have a plan written down. Plus side is, for now, you can start with a one-page business plan. As your company grows, mission changes, or need investors, you can add on the other twenty-nine pages.

What is important now at this stage is 1. Identifying your product/service, 2. The need for it, 3. Your claim to fame, 4. Expenses and sales, 5. Marketing 6. Capital required to get started. Attached is a sample one page business plan. Try to fill it out as much as you can. Remember it can be in a pencil! Changes are bound to be made.

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Questions on the business plan worksheet are designed to help you think your new business through!
Example:
~What product/service will be sold? Cakes.
~Who is my target consumer? People addicted to carbs.
~What desire will it satisfy? Their sweet tooth.
~How much does it cost for me to produce? $15 for an 8inch round. More for larger cakes.
~How much will I charge? $25-$100 gas+time+electricity used to bake+sales tax+state tax/serving.
~Can I get paid in other ways? I can offer classes on how to bake. Use add on items like cake stands/levels of decorated cakes, etc.
~How can I market my ISH? Social media/churches/school bake sales.
~I know I made it big when I have 10 orders a week and I have made an average of $5000/month profit.
~I’ll actually quit my job! My idea is perfect but people may blame my cakes for making them sick, And if they do… I’ll have insurance in place to cover any lawsuit.

This one-page business isn't daunting right?! Instead, this one page is the foundation of your dream and turns it into a real goal. We have no idea of when we will be able to go outside again. Really take some time to think about it. Focus on the business plan and make it your new “out” or “escape plan from the man.” It’s not set in stone, so update it as needed. Once you get the ball rolling, comment and let me know how well you are doing! Need Help? Drop me a line via email! 2020 is looking crazy so far but let’s try our best to make it our year!