We can go on and on about how a business plan can secure funds from investors and get you off on the right foot. But in addition to all those benefits is the hassle of writing one. It could, however, be easier with free business planning software.
The problem with business strategizing software is that it’s a dozen a dime. Finding a perfect and reliable platform could throw you into another stress loop. Luckily, we can put you out of your confusion.
Let’s narrow down your software options.
What Is A Business Plan?
A business plan is a document that illustrates your goals and what you intend to do with them. It serves as a roadmap and an overview of your business to investors, partners, and employees.
This business document aims to put everyone on the same wavelength. Banishing every form of guesswork improves the chances of your business succeeding.
What To Include In A Business Plan
To create an effective plan, several key elements should be included:
1. Executive Summary – This is a concise overview of the entire document that summarizes the main points. It helps investors decide whether to invest further time into reading through the full plan.
2. Business Description -The description thoroughly examines the company’s goals, mission statement, and overall vision for success. Include details like how you intend to differentiate your business from competitors, what makes it unique, and any planned strategic advantages.
3. Market Analysis – An exploration into the size of the potential market and its dynamics, along with information about customers’ needs and buying behaviors. It should also include research trends in the industry, customer preferences, and other data points to determine if your venture will be viable long-term.
4. Product/Service Offering – Here, you should comprehensively describe the items or services provided. This includes how much they cost and why they are better than competing products on the market.
5. Management Team & Organization -It reviews the background of founders, employees, and advisors who have been instrumental in setting up the organization. Also include an organizational structure outlining roles and responsibilities for each team member.
6. Financial Plan -Include expected start-up costs, operating expenses, and projected revenues over time. You must also note break-even point calculations, required capital investments, and financing requirements or sources.
These elements effectively create a comprehensive plan that attracts funding and sets you up for long-term success.
Top Free Business Planning Software
These top 5 free business planning software will simplify your writing process.
No doubt, the competition is stiff, but this easy-to-use software is one of the best. While it might not win an award for the most attractive interface, it will meet your business plan needs.
The text editor imitates word processing programs, making it easily navigable. You can also access numerous templates and integrate visuals into your plan.
If an attractive interface improves your productivity, this software is for you. LivePlan isn’t entirely suitable for a shoestring budget. But it’s not overly expensive as well.
LivepLan features a live dashboard that tracks daily performance. And it enables you to draft a highly professional plan.
Wise Business Plans
Unlike other software on this list, Wise Business Plan is a platform that offers professional writing services. A business expert will draft your plan, and you’ll get a free revision when needed.
This platform takes the whole burden off your shoulder. And it’s guaranteed you will get the best results.
Most times, investors come to mind when you think of a business plan. What if you need a plan for your employees alone? Business Sorter helps you create a strategy for internal use.
It even affords you accountability, allowing you to create tasks, assign them and give a deadline.
Go Small Biz
Besides offering business plan templates and instructions, GoSmallBiz provides a full suite to run a business.
You’ll get CRM, website builder, business document templates, and anything you need to run a startup effectively.
However, it’s still a go-to business plan software.
If you ever need help, it has a team of experts ready to help!
The best free business plan software for you depends on your unique needs. That’s why you should consider your budget and the software’s features.
A good option would be LivePlan – it offers reliable financials, clear visuals, simple pricing plans, and more.
Plus, its intuitive user interface makes creating and managing your business plan a breeze.
But it all comes down to your preference.
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