Guide to Business Plan Software

A good solution will help you transform an idea into a reality

By Chris Maxcer

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Formulating a business plan from scratch can seem overwhelming, but the task is now much easier thanks to a variety of software applications. Before you choose a business-plan software consider several key questions:

What are the compatibility requirements? Will it run on your current PC or do you need to upgrade?
Does it require a separate application like Microsoft Word or Excel?
Will it let you convert your plan to common formats, such as those used by Microsoft's Word, Excel, PowerPoint, Adobe's Acrobat, or HTML?
How much does it cost?
Are there add-on tools or templates specific to your business interests? Are they free or do they cost more?
Is the application easy to use or hard to learn?
Can you integrate your existing financial data? For instance, from QuickBooks?
Does the solution provider offer technical support?

Action Steps
The best contacts and resources to help you get it done

Free solutions

If your business is relatively simple, you might be able to build a great plan with free online tools and templates.

I recommend: Download templates at SCORE.org or use the free online business planning tool at thebeehive.org.

Browser-based solutions

With these online applications, you can create a plan that includes text, data, and images. You can even publish it to the Web, as well as store and retrieve your business plans.

I recommend: Check out Smart Online's Smart Business Plan, Strategic Services Group's FundablePlans.

Template-based solutions

If you have Microsoft Word or Excel, a template-based solution can give you fill-in-the blank prompts.

I recommend: JIAN's BizPlanBuilder and PlanMagic's PlanMagic Business are comprehensive products.

Application-based solutions

Step-by-step applications can help novices build plans. They can also help with tackling complicated financial projections.

I recommend: Check out Palo Alto Software's Business Plan Pro, BRS's Plan Write and Atlas Business Solutions's Ultimate Business Planner.

Industry-specific solutions

Build your plan based on models for the industry you're trying to break into.

I recommend: RestuarantFunds.com offers business planning software with scenarios specific to restaurants. Palo Alto sells plans for hundreds of business types.

Tips & Tactics
Helpful advice for making the most of this Guide

After your business plan has been written, keep updating the information in the plan, so the next time you need to use it, it will be ready to go.

The official source of Business Plan Software is
the Business Plan Software page at Business.com

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