Starting a Small Business · Level 5 of 5 · Capstone

Capstone: plan and grow

Write a one-page plan, hire well, and track the numbers that matter.

Study notes

A one-page plan covers the customer, problem, offer, price, channels, costs, and milestones.
Track a few key numbers weekly, such as revenue, gross margin, cash on hand, leads, and conversion rate.
Workers you control like employees must be paid as employees. Misclassifying them as contractors can bring back taxes and penalties.
Get insurance that fits your risks, such as general liability, professional liability, workers' compensation where required, and commercial auto.
Grow by doing more of what works. Raise prices, improve retention, or add channels only after the current model is profitable.

Quiz: 6 questions

Choose one answer for each question, then check your answers. Score 5 of 6 to pass. Then enter your name and email to download a PDF certificate and have a copy emailed to you. Answers are graded in your browser.

1. Which belongs on a one-page business plan?

Customer, offer, price, channels, costs, milestones Your favorite movies Every email you sent Only a logo

2. You set the hours, provide the tools, and direct how the work is done. The worker is likely:

An employee An independent contractor A customer A vendor

3. Conversion rate is:

Customers won divided by leads Revenue minus costs Number of ads Website color

4. Workers' compensation insurance is:

Required for employees in most states Never required Only for nonprofits A retirement plan

5. When is a good time to add new marketing channels?

After the current model is working and profitable Before you have any customers When cash is nearly gone Never

6. Why track cash on hand weekly?

Running out of cash is a top reason small businesses fail Banks require weekly reports It changes taxes It is not useful

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