The first step in starting your own business is to create a business plan. A business plan will outline every aspect of your new business. It should include information on your loan applications, marketing, business purpose, balance sheet, summary of the business both quarterly and yearly, capital, personnel, operating procedures, leases, and liabilities. It should also include your financial reports such as cash flow statements, balance sheets and income statements. The purpose of your business plan is, not only to focus the direction of your business, but also act as a “brochure” for anyone who wants to find out about the intricacies of your business.
Creating a business plan can be difficult, and for those who have never written one before, can be confusing. There is a lot of information that goes into a business plan and it should cover everything related to your business from the assets of the company to the salaries of employees. When you are starting a business it is essential that you use business plan software. Business plan software is designed to help those, starting a business, to create a business plan that meets their needs and provides step by step directions, sample business plans, applications that merge Word and Excel documents into the software, and helps to make your business more marketable to financors, investors, and potential customers.
The top 5 business plan software applications over the last decade have been somewhat standard. They consist of Business Plan Pro, Biz Plan Builder, Biz Plan.com, Ultimate Business Plannner, and Plan Write for Business. Each one has different attributes that make it simple to create your own business plan. The costs can range from $30, for BizPlan.com, to $130 for Biz Plan Builder. The most consistently used of these products is the Business Plan Pro and it often ranks at the top of most consumer reviews as the number one business plan software on the market.
Business plan software will help you to create financial documents, compile data for financing applications, and there are even features in many programs that help the consumer develop marketing and advertising models as well as presentations for possible investors and venture capitalists. A good business plan software will also help you learn about standards for industry; manage your cash flow; create templates; and even show you comparisons as to how your business is doing in comparison with other businesses in your field, geographic region and size.
Business Plan Pro has been rated as the number one business plan software by the Wall Street Journal and has sales over 1 million units. Business Plan Pro comes with over 500 sample business plans that cover every type of business you could think of.
Biz Plan Builder offers the consumer a fill in the blank option where you will input data upon request and the program will input the data into the specific area to formulate your business plan.
Business Plan Maker offers an interview style approach where you will input data into the business plan software and the program will analyze the data and help you with “phrasing” and any other difficulties you may have.
One of the important aspects of picking a business plan software is not just the software but the help that you get from the merchant. You should find out how much, if any, access you have with customer support, who supplies the information, and whether the representative is an expert. Business plan software is a valuable resource but when you are confused their is no better resource than an actual person.