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We test 10 business plan creation tools that help you build and track your organization's future.
A business plan can also be the most concrete way to get everyone's agreement on "This is what we're doing, ?!
" Keeping the plan updated as the business matures is an easy way of measuring success.
These solutions may prompt you to respond to issues that you might not have thought to address. Do the Numbers Ultimately, a business plan shows how your company will make money.
Even the simplest plan needs to include financial reports such as charts for profit-and-loss, balance sheets, and month-by-month and yearly projections. Context and Analysis Some business plan software solutions (such as Equity Net and Editors' Choice Palo Alto Software Live Plan) help you compare your numbers to others in your industry, including regions and company size.
The slew of initial ideas hastily scribbled on napkins or perhaps simply forgotten entirely.
Many great businesses started with these same events, but millions more never got beyond them.
You might claim that the Jewish deli you propose to open in Asheville, North Carolina will turn a profit in three years, but the market data suggests five years is typical.
This data helps you back up your assertions before a banker can raise an eyebrow.
Business plans are more than just the paperwork you need to fill out for funding.
A good business plan helps you identify your mission and your value proposition.