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These Software-as-a-Service (Saa S) applications can't give you the irresistible prose to convince an investor you will make your projections come true, but they do guide you in answering all of the questions that investor is likely to have.
However, a few of them provide additional services such as connecting you to funding sources (Equity Net gets a nod here) or comparing your plan to others' plans in your industry (such as what Enloop's performance score does).
Ultimately, though, the two Editors' Choice winners were clear: Palo Alto Software Live Plan and Tarkenton Go Small Biz, both of which checked off most boxes on a typical entrepreneur's wish list.
In all of these cases, the business owner has to do something that can be scary: become a business document management expert by creating a structured document (that is, a business plan) with lots of numbers and compelling prose, with the awareness that this pitch is make-or-break for the company's vision. It's hard to express your product's unique selling points, analyze competitors' strengths and weaknesses, and back up your assertions about why you need this much money. In my pre-journalistic life, I wrote two in-depth business plans.
One plan taught me that I didn't have what it took to pull off that project and the other plan got my startup business accepted by a VC conference.
Even better, many of the products we review in this business plan creation tool roundup back up their software offerings with in-person coaching and mentoring as well as loads of online learning resources, like videos and how-to articles.
The 10 online business plan software solutions examined in this roundupeach promise to help you construct a polished business plan, with all of the numbers and narrative you need.
This is a "nice-to-have" feature for some businesses but an irrelevant one for others. Helpful Advice Even if the business plan software solution gives you places to plug in data (think "Mad Libs" for businesses), ultimately you need a good idea (you're on your own, there) and to understand the information investors want to see.
As with tax preparation software, it's reassuring when the business planning software solution defines terms, provides sample data, and explains the sort of information expected in each field.
So, people write business plans in order to acquire funding or to document the company's intended direction.
That is, you want a bank loan, VC funding, or other help to get your startup off the ground.