Business Plan Software Do You Need It

Business Plan Software Do You Need It



Business Plan Software: Do you​ Need It?
Business plan software is​ something that often gets overlooked and isn't considered to​ be a​ necessity for some reason .​
in​ my opinion,​ business plan software is​ essential,​ it​ is​ not a​ luxury .​
I​ am a​ huge advocate of​ business planning .​
When people ask me if​ they need a​ business plan,​ my response is,​ Absolutely! you​ see,​ starting a​ business without a​ business plan is​ akin to​ starting college without a​ degree plan .​
If you​ don't know where you​ are going,​ you​ won't know how to​ get there .​
You will waste your time and your money if​ you​ are not following a​ plan .​
It's really that simple!
So,​ you​ know you​ need a​ business plan,​ but what about business plan software? For business planning,​ there are really three alternatives: 1) crafting your own business plan from scratch; 2) hiring a​ business plan writer or​ business planning consultant; or​ 3) using business plan software to​ write your own business plan .​
Each of​ these alternatives has its own advantages and disadvantages.
Writing your own business plan from scratch is​ certainly a​ possibility .​
Doing so gives you​ the​ freedom to​ format and arrange the​ plan in​ any way that you​ see fit .​
On the​ other hand,​ doing financial projections,​ which are necessary for the​ purpose of​ budgeting and financial planning,​ can be difficult to​ do without a​ business plan program,​ or​ at​ least financial projection software or​ spreadsheets.
Hiring a​ business plan writer makes sense for some people .​
a​ business plan writer is​ generally well-versed in​ business planning and will have insight that will assist you​ in​ preparing a​ comprehensive business plan that takes everything into account .​
The disadvantages to​ having your business plan professionally written are the​ expense associated with the​ initial plan,​ and the​ limitations that exist in​ regard to​ changing it​ as​ your business evolves,​ which is​ something that business plan software empowers you​ to​ do.
Business plan software is​ relatively inexpensive when compared to​ hiring a​ professional business plan writer or​ consultant .​
However,​ when compared to​ doing your own plan from scratch,​ it​ may seem like an​ unnecessary expense .​
Business plan software does have many advantages .​
a​ good business plan software package,​ like Business Plan Pro by Palo Alto,​ has the​ headings and categories for a​ business plan already set up for you​ .​
It also has guidance throughout the​ business planning process that explains what to​ include in​ each part of​ your business plan .​
What I​ really love about Business Plan Pro is​ that it​ is​ so easy to​ do financial projections using the​ business plan software,​ whether or​ not you​ understand accounting .​
the​ main financial sections include a​ section for start-up costs,​ one for income projections,​ one for a​ proforma balance sheet,​ and one for a​ projected cash flow statement .​
Information that input into one of​ the​ financial forms automatically transfers calculations to​ the​ other financial statement forms making the​ process of​ projecting your financial plan a​ breeze.
Another huge advantage I​ see in​ regard to​ business plan software is​ that when you​ use business plan software to​ create your own business plan,​ you​ can make changes to​ it​ anytime you​ need to​ .​
It doesn't become a​ stale document that sits on​ the​ shelf and collects dust .​
a​ business plan should be always evolving .​
You should update your business plan frequently including new goals,​ objectives and milestones .​
You should also adjust your financial projections regularly for the​ purpose of​ budgeting .​
Business plan software makes it​ easy to​ do .​
If you​ choose not to​ use business software,​ and to​ create your own business plan from scratch,​ you​ will need some guidance unless you​ are a​ professional business planner yourself .​
The Small Business Administration at​ sba.gov has some excellent resources and guides about business planning .​
If you​ choose to​ hire a​ professional business plan writer,​ do review their qualifications and references and make certain that you​ understand exactly what is​ included in​ the​ business planning services they are offering.




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