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Blog Business 8 Best Business Plan Software for 2024

8 Best Business Plan Software for 2024

Written by: Krystle Wong Jan 01, 2024

Gone are the days of staring at blank pages and struggling to structure a business plan effectively. With user-friendly interfaces and a wide range of business plan templates catering to various industries, creating business plans that are polished, professional and data-driven can now be done in a fraction of the time.

For startups, business plan software guides them through the crucial early stages with comprehensive business plan templates and financial modeling tools. Established businesses on the other hand benefit from the software’s collaborative features, enabling seamless teamwork as they pivot, innovate and pursue new growth opportunities.

In this article, let’s delve into exploring the seven best business plan software for 2024. Whether you’re an aspiring entrepreneur with a groundbreaking idea or a seasoned business owner ready to elevate your enterprise to new heights, these software solutions have all you need to create a solid business plan.

Click to jump ahead:

What is a business plan software?

• 7 Best business plan software for 2024

Factors to consider when choosing a business plan software

7 steps to create your own business plan, business plan software faq, key takeaway.

A Business plan software is a specialized digital tool designed to assist entrepreneurs, startups and established businesses in creating, organizing and presenting comprehensive business plans. 

Business plan software significantly reduces the time and effort required to create a comprehensive business plan . The availability of business plan templates, financial modeling tools and automated features streamlines the process of business planning and eliminates the need for starting from scratch.

Some advanced business planning software even integrates market research capabilities. This feature provides users with access to market trends, industry benchmarks and relevant data. Access to such data helps users make informed decisions and demonstrate a thorough understanding of their target market.

8 Best business plan software for 2024 

1. venngage.

Venngage specializes in transforming traditional business plans into captivating visual stories. Visuals can communicate complex information effectively, ensuring your ideas stand out and resonate with your audience.

When it comes to business planning, conveying your ideas with impact is just as important as the content itself. In this digital age, visual storytelling has emerged as a powerful way to captivate audiences and leave a lasting impression. That’s where Venngage steps in.

With a rich library of templates, Venngage offers a variety of themes and styles to suit different industries and business types. Customize your business plans with our user-friendly drag-and-drop tools by adding your brand elements, customizing colors, fonts and visuals to make your business plan truly unique. Check out our library of sample business plans to get started today.

However, while Venngage excels in visual storytelling, it might not be the go-to tool for in-depth financial forecasts and analysis. Users seeking extensive financial modeling might want to complement Venngage with a comprehensive business planning tool.

Pricing options:

Create your first 5 designs with Venngage for free and upgrade to a premium or business plan for $10/month per user and $24/month per user respectively to enjoy premium features. For larger teams who need extra support, controls and security, the enterprise plan starts from $499/month for 10+ seats.

Can I collaborate with team members using this business plan software?

Yes, absolutely! Venngage offers collaborative features that allow you to work seamlessly with multiple team members when creating business plans. You can invite team members to join your Venngage account and they can contribute to the design process in real time. 

Can I export my business plan to different file formats?

Upgrade to a premium or business plan on Venngage to export your professional business plan to different file formats. After designing your business plan, you can choose to export it as a high-quality PDF document, which is ideal for sharing and printing. Additionally, Venngage allows you to export your business plan as an image file (PNG or JPG), making it easy to use in presentations or on your website. 

Is this business plan software suitable for startups or established businesses? 

Venngage is great for entrepreneurs and businesses looking to enhance their business plans with visually engaging infographics and visual assets.

Instead of sharing a lengthy, 50-page document that may bore your audience and fail to effectively convey your message — present your business plan with infographics. Here’s how you can create a business plan infographic that will wow your readers and showcase your business at its best. 

2. LivePlan

Source: Screenshot from LivePlan

In the realm of business planning software, LivePlan stands out as a reliable and user-friendly tool. With a focus on seamless financial forecasting and budgeting capabilities, LivePlan streamlines the planning process, helping businesses transform their visions into reality.

The software’s financial forecasting tools provide users with the ability to project revenue, expenses and cash flow accurately. This financial insight is invaluable for making informed decisions and setting realistic goals.

For hassle-free data integration, the business plan software offers seamless integration with accounting software . This feature allows users to import financial data effortlessly, saving time and reducing manual data entry.

While LivePlan excels in financial planning and user-friendliness, some users may find the customization options for design and layout to be limited. For businesses seeking highly tailored visual aesthetics, LivePlan’s template-based approach might be less ideal.

The standard plan is available at $20/month for monthly billing and $15/month for annual billing. For businesses seeking extensive financial tools to support their operations and growth, the Premium plan costs $20 for the first month and $40/month (monthly billing) or $30/month (annual billing) for subsequent months.

LivePlan facilitates seamless collaboration among users within your account, allowing multiple individuals to work on the same plan concurrently. To prevent conflicting edits, LivePlan restricts access to specific sections, allowing only one user to edit at a time while others observe the locked section.

You can export your business plan by using the print to PDF feature. This generates your plan content in a standard file format compatible with Adobe Reader and other free reader programs. Alternatively, you can export your plan to Microsoft Word (2007 or later).

A great tool for small businesses, startups and entrepreneurs looking for easy-to-use software with solid financial planning tools.

3. Upmetrics

Upmetrics is an AI-powered business planning software that helps businesses of all sizes and industries write their business plan.

With Upmetrics AI Assistant, you can write your plan faster, get answers to any business-related queries, and prepare financial forecasts in no time. 

Besides, the subscription includes access to 400+ sample business plans, various informative guides, and video tutorials to keep your business plan writing process on track. 

Additionally, it has collaborative features, so that everyone on the team can share their insights. Not just that, the software provides you with an AI pitch deck generator, so you can make a stellar pitch.

As an AI business plan builder , Upmetrics is suitable for entrepreneurs, startups, and small businesses to write their plans at any stage. Although it has various cover page designs and immense customization options, it might still lack visual appeal. 

Pricing plan options 

• Starter plan – $7 monthly 
• Premium plan – $14 monthly 

Yes, you can collaborate with your team members while using Upmetrics. It offers collaboration tools that allow you to work effortlessly with your team on the business plan. You can invite team members to collaborate, assign tasks, and track the progress together. 

You can download your business plan as a PDF or directly as a document in Word. Besides, you can share the business plan directly to any email, and they will get the viewer access to the plan. 

Upmetrics is a versatile business planning software suitable for startups and established businesses. But its financial planning features, step-by-step guidance, and AI Assistant make it more useful for startups writing business plans for the first time.

4. BizPlan by Startups.com

Source: Screenshot from BizPlan

If you’re a startup aiming to raise investments, BizPlan is the one for you. As a universal professional business plan builder, BizPlan offers the added advantage of seamless integration with all the tools within the Startups.com network.

Designed with startups in mind, BizPlan’s step-by-step approach allows you to break down the entire scope of work into manageable steps and the built-in Progress Tracker tool keeps you on track towards success.

Once you subscribe, BizPlan opens the door to utilizing all the tools offered by Startups.com, making it a one-stop shop for your entrepreneurial needs. Whether it’s lifetime access to the service, connectivity to Findable to attract financial investments, a wealth of online educational programs or the ability to connect multiple owners to a single account, BizPlan delivers comprehensive support.

While the business plan software offers an array of benefits, it’s essential to consider the possible downsides. The absence of a free version and a mobile app, along with a lack of industry-specific templates for business plans may be worth considering before making your decision

Pricing plan options:

• Monthly plan ($29 per month)
• Annual plan ($20.75 per month or $249/year)
• Lifetime access (one-time fee of $349)

Bizplan encourages collaboration with partners, team members, advisors and subject matter experts by allowing threaded comments throughout the entire plan. It provides control over who can access sensitive financial data and enables convenient cloud-based access from anywhere.

Bizplan provides multiple options for sharing your business plan with others. You can generate an online version of your plan, which can be set as private by default or made publicly accessible through a unique shareable URL. Additionally, Bizplan offers the option to create a custom-branded PDF of your business plan. 

BizPlan is great for entrepreneurs and small businesses who value a vast collection of resources and need support in financial analysis.

Source: Screenshot from Enloop

Enloop emerges as one of the best business plan tools for startups, catering to entrepreneurs who crave a streamlined planning process. With the ability to automatically generate basic text for each section of your plan, Enloop saves time and effort in crafting your business vision.

A highlight of the business plan tool is its automatic generation of financial projections, offering accurate insights based on your entered data. This powerful feature empowers entrepreneurs to make informed decisions and project future outcomes with confidence.

For those with a penchant for strategic thinking, Enloop’s “what-if” scenario analysis becomes an invaluable tool. It allows users to explore various business strategies and assess their potential impact on plan outcomes, enabling sound decision-making.

Enloop doesn’t stop at generating numbers; it goes a step further by providing a business plan grading system. This insightful feature assesses plan quality, giving users valuable feedback to refine and enhance their business plans.

However, it’s essential to consider the software’s limitations as customization and design options are relatively limited. Additionally, the basic version of Enloop might not meet the needs of all users, as it lacks certain advanced features. 

• Seven day free trial (no credit card required)
• Detailed plan ($19.95/month or $11/month when billed annually)
• Performance plan ($39.95/month or $24/month when billed annually)

Enloop’s online business plan writing app lets you invite and collaborate with anyone on your business plans using the ‘Invite & Share’ feature.

Enloop allows you to download your business plan in PDF format whenever you’re ready. The plans remain accessible in your paid account, encouraging regular updates to keep track of your business’s health and have an up-to-date plan ready for financing needs.

Suitable for entrepreneurs seeking a tool that simplifies financial forecasting and scenario analysis.

6. PlanGuru

Source: Screenshot from PlanGuru

PlanGuru’s standout feature lies in its ability to forecast all three financial statements – income statement, balance sheet and cash flow statement so that users can make data-driven decisions.

Creating detailed analyses becomes a breeze with PlanGuru’s general ledger import utilities, allowing seamless historical data import. The software facilitates budget vs actual reporting and enables building rolling forecasts with just a few clicks each month.

Unlimited budgeting flexibility is another advantage offered by the business plan builder. Users can craft simple high-level small business budgets or delve into intricate multi-department operating budgets with ease.

With scenario analysis capabilities, PlanGuru empowers users to interpret the financial impact of specific events accurately. This feature enables making critical investments and strategic decisions with confidence, knowing thorough due diligence has been performed.

Given its sophisticated features, PlanGuru may be more suitable for financial professionals and analysts looking for in-depth financial analysis and budgeting tools. Users not familiar with financial modeling may face a steeper learning curve when utilizing Enloop’s robust capabilities.

• Single entity ($99/month or $75/month when billed annually)
• Multi-department consolidations ($299/month or $225/month when billed annually)

You can add up to 3 users with the multi-department consolidation plan. Additionally, all plans allow you to add on $29/month (billed monthly) or $25/month (billed annually) for each extra user.

What other apps does PlanGuru integrate with?

The cloud-based platform is also accessible as a Windows-based desktop version, giving you the freedom to choose the format that suits you best. Additionally, PlanGuru seamlessly integrates with MS Excel, QuickBooks Online and Xero, providing further flexibility and convenience in using the software.

The cloud-based version is suitable for SMBs or nonprofits budgeting for a single entity while the multi-department consolidations plan is for companies with multiple departments needing consolidated budgets.

7. Business Sorter

Source: Screenshot from Business Sorter

With Business Sorter’s card sort system, crafting the foundation of your plan becomes a breeze. Featuring 273 cards covering various business situations, the business plan generator offers flexibility, allowing users to customize their plan by adding their cards or modifying existing ones, tailoring the plan to their specific needs.

The platform also provides the convenience of viewing your plan on any device, including smartphones, which not many business plan apps have. Additionally, guidance is at hand with Business Sorter as the software provides valuable tips and advice for every key step, empowering users to implement their business strategy with confidence.

While Business Sorter excels in its interactive features, it may not offer as extensive financial analysis tools as other business plan software. For businesses requiring advanced financial modeling capabilities, Business Sorter might not fully meet their requirements.

• For small teams with up to 3 users ($10/month or $80/year)
• For medium teams with up to 10 users ($30/month or $240/year)
• For large teams with up to 30 users ($80/month or $640/year)
• For enterprises with unlimited users (custom pricing)

Your business plan can be edited by only one user at a time. When a user opens a plan, it automatically locks to prevent any data loss and remains locked until the user finishes their work and exits the plan.

You can print each business plan directly from the plan summaries on your dashboard. 

Suitable for both entrepreneurs and businesses looking for an interactive and visually appealing planning approach.

9. AchieveIt

Source: Screenshot from AchieveIt

AchieveIt stands as a versatile software for business plans, designed to simplify the planning process for businesses of all sizes and planning methods. With AchieveIt, you can easily build plans, ensuring alignment and engagement among your employees and optimizing plans for seamless execution.

Regardless of your preferred planning method, AchieveIt empowers you to construct plans effortlessly, providing a flexible solution for any planning use case. The software ensures your plans are well-aligned with your organization’s objectives, engaging all team members for successful plan execution.

The business plan tool provides robust tracking and reporting features, allowing businesses to monitor the progress of their plans and measure performance against set goals. Users can create customized dashboards to visualize key performance metrics, making it easier to identify trends and insights.

That said, In comparison to most business plan software, AchieveIt’s pricing might be relatively higher with its extensive features. On top of that, for users new to strategic planning software, AchieveIt may present a learning curve during the initial adoption phase.

The business plan software packages for AchieveIt varies based on factors like organization size, required functionality and the number of users. AchieveIt being an enterprise-level software offers custom pricing to cater to the specific needs of each business. For accurate pricing details, it’s best to contact their sales or customer support team.

AchieveIt allows team members, stakeholders and advisors to have shared access to the platform, providing them with visibility into the latest updates and progress on the plans. Users can assign tasks to team members and track their progress within the platform. 

Can AchieveIt integrate with existing systems?

AchieveIt’s Data Integration API lets you import key metric data from existing systems, saving time and reducing errors by eliminating the need for data entry in multiple places.

AchieveIt is best suited for medium to large-sized businesses and organizations that require a comprehensive and collaborative strategic planning platform. It caters to teams and enterprises seeking to improve their planning processes, track performance and drive organizational alignment to achieve business objectives effectively.

No idea what your business plan should look like? Check out these business plan examples for inspiration. 

When searching for the best business planning software, you may be wondering — what features should I look for in business plan software? You want to make sure it meets your specific requirements and streamlines the planning process effectively. Here are the top six factors to consider:

Ease of use

The software should have a user-friendly interface that simplifies the process of creating a business plan. Look for intuitive navigation, clear instruction and a layout that makes it easy to input and organize your information.

Features and business plan templates

Check the range of features and business plan templates the software offers. Look for a diverse selection of business plan templates catering to various industries and business types. The software should provide essential sections like executive summaries, market analysis, financial projections and more.

Financial modeling tools

Your business plan software should allow you to input financial data and generate accurate and comprehensive financial projections. These business plan creation tools are vital for assessing the financial viability of your business.

Collaboration and sharing

If you’ll be working with a team or seeking feedback from others, consider software that enables real-time collaboration and easy sharing. The ability to work together seamlessly can enhance productivity and improve the quality of your business plan.

Built for fast-moving teams that need to be on the same page, Venngage’s real-time collaboration enables you to polish your design with your team in real time, leave comments on each other’s work,and save your designs in one shared folder. With your  Venngage Business  account, you can easily invite and manage your team members to collaborate on a design, all in real time.

Security and data protection

Since a business plan contains sensitive information, prioritize software that prioritizes security. Ensure that the software uses encryption and data protection measures to keep your data safe from unauthorized access.

Exporting and sharing options

Check the software’s export options. You’ll likely want to share your business plan with others, so ensure it can be exported in popular formats like PDF or PowerPoint.

Are you an entrepreneur starting a new business or expanding your existing business? This guide on how to create a small business plan might come in handy for you. 

Creating business plans can be a crucial step in setting your entrepreneurial vision on the right track. To help you through the process, here are 7 steps to guide you in crafting a comprehensive business plan:

Step 1: Executive summary

Start with an attention-grabbing executive summary. This section provides an overview of your business. In your executive summary, make sure to highlight your mission, goals, products or services, target market and the unique value you offer. Keep it concise, yet compelling.

Step 2: Company description

Give a detailed description of your company. Explain your business’s history, its legal structure (e.g. sole proprietorship, LLC, corporation) and the reasons why your business will succeed in the market.

Step 3: Market analysis

Conduct thorough market research to understand your industry, target market and competition. Identify your ideal customers, their needs and preferences. Analyze your competitors and highlight your competitive advantages.

Step 4: Products and Services

Describe your products or services in depth. Explain their features, benefits and how they meet the needs of your target customers. Emphasize what sets your offerings apart from the competition.

Step 5: Marketing and sales strategy

Outline your marketing and sales strategies to reach your target audience. Explain your promotional activities, pricing strategies, distribution channels and sales tactics. Detail how you plan to acquire and retain customers.

Step 6: Financial projections

Project your financial performance over the next three to five years. Include estimated revenue, expenses and cash flow. Detail your startup costs and funding requirements if applicable. Be realistic and supported by market research.

Step 7: Implementation plan

Create a detailed roadmap for executing your business plan. Set specific goals and milestones. Break down tasks and assign responsibilities. Include timelines and a plan for measuring progress.

A great tip here is to start with a well-structured outline. This guide on how to create a business plan outline will help you in creating your blueprint to easily identify your business’ resource needs, including finances, personnel and equipment. 

Is my business data safe with business plan software?

Most reputable business plan software providers prioritize data security and employ encryption and other measures to keep your business data safe from unauthorized access.

What are the benefits of using business planning tools?

Business planning tools offer time efficiency, professional presentation, error reduction, collaborative features and accessibility, making it easier to create a comprehensive business plan that impresses investors and stakeholders.

Do I need any specific skills or expertise to use business plan software?

No, many business plan software solutions are designed to be user-friendly, requiring no specific skills or expertise. They often come with templates and step-by-step guidance to assist you through the planning process.

In the dynamic landscape of 2024, businesses are on the lookout for innovative tools to stay ahead of the curve and drive their growth. These 7 business plan software picks for 2024 offer a wide range of features, from user-friendly interfaces and real-time collaboration to sophisticated financial analysis tools and customizable dashboards.

Whether you’re looking for user-friendly platform business planning tools that aligns with your business planning processes or a business plan writing software that allows you to tailor the business plan according to your industry, goals and unique requirements — I’m quite certain I’ve got them all covered. 

The value of these business plan software options lies not only in their efficiency but also in their ability to save time and reduce errors. By integrating with existing systems through Data Integration APIs, users can seamlessly import key metric data, eliminating redundant data entry and streamlining the process.

If you’re still unsure about which is the right business plan software for your business, you can always take advantage of free trials or video tutorials and demos offered by software providers. Testing the platform firsthand will give you a practical understanding of its usability and suitability for your business.

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5 Best Business Plan Software in 2022

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When you’re starting a business, developing a strong business plan will be one of the first steps you take. Your business plan will cover everything from a detailed explanation of your products or services and pricing model to at least three years of financial projections—plus much more. Therefore, whether you’re not sure how to get started or you’re just looking to make the process easier, you may want to turn to business plan software for help.

In this guide, we'll break down five of the best business plan software options—discussing their pros, cons, features, pricing, and more—so you have all the information you need to decide which solution is right for your small business.

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The 5 best business plan software options

The right business plan software will make the process of writing your business plan much simpler. Like many business software solutions, however, there are a number of different business plan software options out there—each of which has a unique set of features, user experience, and price.

This being said, if you're looking for a place to start your search for the best business plan software, you can explore the five top options below:

How much do you need?

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

1. LivePlan

Best overall business plan software.

If you want template-rich, modern-feeling business plan software, then LivePlan may be the right pick for you. LivePlan excels with their user interface, which feels updated and slick, and also offers intuitive, easy-to-use features and options.

Their step-by-step instruction will help you kick things off from the beginning, and you can take advantage of their online learning center to continue to gain business skills.

Affordable plans, including pay-as-you-go option

No long-term contracts or cancellation fee; 60-day money-back guarantee

Modern, intuitive interface; cloud-based, can be used on Mac, PC, as well as tablets

Ability to create unlimited plans in one account; over 500 customizable templates

Variety of business resources including video tutorials, step-by-step instruction, and general customer support

Limited integration options

Challenging to enter your own financial modeling projections

Can be difficult to learn

Ability to create an unlimited number of business plans on one account

More than 500 business plan templates spanning various industries

Integration with Xero and QuickBooks Online

Real-time tracking of financial data with accounting integrations

Ability to export your business plan to Word or PDF

Expert advice and step-by-step instruction included

Performance dashboards for tracking against budgets and sales goals

Ability to create and export a one-page pitch executive summary

Annual plan: $15 per month, billed every 12 months

Six-month plan: $18 per month, billed every six months

Pay-as-you-go plan: $20 per month, billed once every month

2. GoSmallBiz

Best for multiple business management tools in one platform.

Next on our list of the best business plan software options is GoSmallBiz, which is much more than just a business plan software. With GoSmallBiz, you have access to business continuity planning software with features that cover creating a roadmap, working through business and legal forms, building a website, and more.

In this way, GoSmallBiz is great for startups or newer businesses looking to access multiple business management tools through one platform.

Unlimited business consultation and extensive library of online resources

Multiple business tools in one software

Website consultation analysis and business assessment

Industry-specific business plan templates with emphasis on financial projections and statements

Expensive monthly cost compared to alternatives

Limited business plan features

Entire business plan can only be exported to Microsoft Word

Outdated interface

Industry-specific business plan templates with step-by-step building wizard

Ability to create financial statements and projections

Free website hosting and website builder

Customer relationship manager with integration with MailChimp

Digital marketing dashboard with social media and Google Analytics integrations

HR document builder

Corporate minutes writer

Business documents library

Business courses library

Unlimited business consultation

$39 per month, no contracts, free cancellation

Best for simple, fast business plan creation.

If you're looking for free business plan software, Enloop will be one of your closest options—they offer an all-inclusive seven-day free trial, no credit card required. Additionally, unlike some of the other options on our list, Enloop is strictly dedicated to business plan creation, including automated text writing, financial forecast comparisons, and a real-time performance score that tracks your progress.

This being said, if you'd prefer the most straightforward, fast, and simple way to write your business plan, Enloop will be a platform worth considering.

Simple and straightforward software, solely dedicated to business plan creation

Seven-day free trial

Automatic text generation available to streamline the writing process

Affordable plans with annual discount option

Limited additional educational resources

Only one template option

No integration options

Ability to create three business plans with customizable text, images, tables, charts, and over 100 currency symbols and formats

Includes automatic text generation for each plan section that you can then customize

Automatically generated financial statements

Includes financial performance comparison analysis (using three ratios with Detailed plan and 16 with Performance plan)

Real-time performance score to track your progress

Ability to invite users to edit (two with Detailed plan, five with Performance plan)

Pass/fail report and certificate to help you identify issues with your plan

Free plan: Seven-day free trial with no credit card required

Detailed plan: $19.95 per month or $11 per month, paid annually

Performance plan: $39.95 per month, or $24 per month, paid annually

Best for startups looking to acquire funding or find investors.

Part of the Startups.com suite, Bizplan gets top marks for their user interface—it’s intuitive, easy to use, and modern. You’ll work with a step-by-step business plan builder to get exactly what you’d like from your business plan. It may remind you of a modern website builder, since it has drag-and-drop tools to build templates.

Moreover, for one subscription fee, you have access to all of the tools in the Startups.com network, including self-guided courses, how-to guides, masterclass videos, and more. All in all, with a direct connection to Fundable, Bizplan is a top business plan software option for startups looking to acquire funding and find investors.

Subscription gives you access to all Startups.com tools

Lifetime access subscription option

User-friendly drag-and-drop business plan builder

Excellent educational resources

Connection to Fundable great for businesses looking for capital

No free trial

No templates based on industry

No mobile access

Drag-and-drop templates for business plan building

Financial command center to track all business financials in one place

Unlimited account collaborators

Ability to share business plan online with investors

Online resources including self-guided courses, masterclass videos, how-to guides, mentorship access

Unlimited software use for Fundable, Launchrock, and Startups.com

Monthly plan: $29 per month

Annual plan: $20.75 per month, billed at $249 per year

Lifetime access: $349 one-time fee

5. PlanGuru

Best for financial planning and budgeting.

Finally, for some of the strongest financial features among business plan software options, including budgeting and forecasting, you might check out PlanGuru. Whereas the other solutions we've reviewed were first and foremost focused on writing a business plan, PlanGuru is dedicated to business financial planning —providing the tools you need to create budgets, financial forecasts, reports, and more.

Therefore, if you need a software solution that can streamline the financial piece of your business planning processes, PlanGuru will certainly have the most to offer.

Extensive financial tools and detailed forecasting, budgeting, and reporting capabilities

Substantial library of resources

Cloud-based and desktop options

14-day free trial and 30-day money-back guarantee

Expensive, especially for additional users

Only focuses on the financial aspect of business planning; no templates or tools for basic business plan writing

Difficult to use without prior financial knowledge

Cloud-based version of software, as well as locally installed Windows version (desktop version has a few more features)

Works with QuickBooks Online, Xero, and Excel

Budgeting and forecasting for up to 10 years

Over 20 standard forecasting methods

Formula builder to create custom methods

Ratios and KPIs

Dashboard and reporting tools

Help guides, video tutorials, knowledgebase, and live U.S.-based customer support

14-day free trial

$99 per month (additional users $29 per month)

$899 per year (additional users $299 per year)

What to look for in business plan software

Ultimately, it's up to you to decide, which, if any, of the best business plan software solutions on our list is right for your business.

So, if you're trying to figure out how to choose between the various options out there, it might be helpful to compare your top choices based on the following criteria:

Features: As we've seen different business plan software solutions offer different features. You'll want to look carefully at the feature list of any software and determine what features are most important for your business needs. Do you need an extensive library of templates with detailed customization? Would you prefer software that includes an online learning center for business skills? Are you looking for a solution that combines business plan writing with other tasks? It may be useful to list out your ideal feature set, so you can compare individual software plans to that list.

Price: Although you might be able to find some free business plan software options (or at the very least, free trials), in most cases, you'll need to pay a subscription fee to access the platform you choose. Therefore, you'll want to think about what your budget is for this business tool and what type of software is most cost-effective for your needs.

User experience: User experience can vary widely among different business plan software options. You’ll find some programs that are newer or have been recently updated. Others might have the kind of interfaces that felt new years ago but are now pretty out of date—and, subsequently, make them a little harder to use. The right user experience for your needs is genuinely a matter of opinion and comfort—nevertheless, it's worth testing thoroughly testing out a platform to ensure that it can truly work for you before investing in a monthly or annual subscription.

The bottom line

There's no doubt that properly crafting your business plan is important for the future growth and success of your small business. Luckily, the right business plan software should make the process much simpler.

This being said, whether you opt for one of the best business plan software options listed here, or another platform entirely, you'll want to take the time to compare multiple solutions and ensure you choose the one that's right for your business.

As we mentioned, it can be helpful to think about the features you're looking for, your budget, and your user-experience preferences ahead of time—that way, you'll have a set of criteria in mind as you explore different solutions.

Ultimately, perhaps the best thing you can do to find the right software is to actually test out the platforms themselves—either by using a free trial or a money-back guarantee.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

On a similar note...

Home > Business > Business Startup

• 5 Best Business Plan Software and Tools in 2023 for Your Small Business

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change.

We are committed to sharing unbiased reviews. Some of the links on our site are from our partners who compensate us. Read our editorial guidelines and advertising disclosure .

A business plan can do a lot for your business. It can help you secure investors or other funding. It can give your company direction. It can keep your finances healthy. But, if we’re being honest, it can also be a pain to write.

Luckily, you don’t have to start from scratch or go it alone. Business plan software and services can help you craft a professional business plan, like our top choice LivePlan , which provides templates, guidance, and more.

You’ve got quite a few choices for business plan help, so we’re here to help you narrow things down. Let’s talk about the best business plan tools out there.

• LivePlan : Best overall
• BizPlanBuilder : Most user-friendly
• Wise Business Plans : Best professional service
• Business Sorter : Best for internal plans
• GoSmallBiz.com : Most extra features
• Honorable mentions

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LivePlan: Best overall business plan software

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. *With annual billing

LivePlan has been our favorite business plan software for a while now, despite the stiff competition.

There’s a lot to like about LivePlan. It has pretty much all the features you could want from your business plan software. LivePlan gives you step-by-step instructions for writing your plan, helps you create financial reports, lets you compare your business’s actual financials to your plan’s goals, and much more. And if you ever need inspiration, it includes hundreds of sample business plans that can guide your writing.

LivePlan software pricing

But the best part? You get all that (and more) at a very competitive price. (You can choose from annual, six-month, or monthly billing.) While LivePlan isn’t quite the cheapest business plan builder out there, it’s not too far off either. And if comes with a 60-day money back guarantee. So there’s no risk in trying LivePlan out for yourself.

With a great balance of features and cost, LivePlan offers the best business plan solution for most businesses.

BizPlanBuilder: Most user-friendly

Need something easy to use? BizPlanBuilder fits the bill.

BizPlanBuilder doesn’t have a flashy, modern user interface―but it does have a very clear, intuitive one. You’ll be able to see your plan’s overall structure at a glance, so you can quickly navigate from your title page to your market trend section to that paragraph on your core values. And as you write, you’ll use a text editor that looks a whole lot like the word processing programs you’re already familiar with.

BizPlanBuilder software pricing

Data effective 3/13/23. At publishing time, amounts, rates, and requirements are current but are subject to change. Offers may not be available in all areas.

BizPlanBuilder also offers lots of helpful guidance for actually writing your plan. It gives you pre-written text, in which you just have to fill in relevant details. It offers explanations for what information you need to include in each section of your plan and way. It even gives you helpful tips from experts, so you’ll have all the information you need to plan like a pro.

So if you want planning software with almost no learning curve, you’ll like BizPlanBuilder.

Wise Business Plans: Best professional service

• Custom quote

Unlike all the other companies on this list, Wise Business Plans doesn’t offer software. Instead, it offers professional business plan writing services―meaning someone does all the hard work for you.

Now, you might think that sounds expensive―and you’re probably right (you have to request a custom quote for your plan). But there’s a lot to be said for expertise, and Wise Business Plans has plenty of that. Your business plan will get written by an experienced writer (with an MBA, no less). They’ll get information from you, do their own research, and then write your plan. You get one free revision, and you can always pay for more.  

Wise Business Plans service pricing

Your end result will be a polished, entirely original business plan. (You can even get printed copies.) And best of all, you won’t have to spend your precious time working on the plan yourself. Wise Business Plans takes care of all the hard parts, and makes your business look good while doing it. Sounds like a service worth paying for, right?

Put simply, if you want the most professional business plan possible, we recommend using Wise Business Plans’s writing service.

Business Sorter: Best for internal plans

Many businesses need plans to show to people outside the company (to get financing, for example). But what if you just need a plan for internal use? In that case, we suggest Business Sorter.

Business Sorter uses a unique card-based method to help you craft the perfect business plan. (You can watch a demo video to see how it works.) You’ll plan some of the usual things, like finances and marketing. But Business Sorter also lets you make plans for specific teams and team members. It also emphasizes more internal matters, like operations, that might get overlooked in a business plan for outsiders.

Business Sorter software pricing

After you’ve made your business plan, Business Sorter also helps you stay accountable to it. You can create tasks, give them deadlines, and assign them to team members―giving you basic project management tools to make sure your business plans become business actions. (Oh, and did we mention that Business Sorter has the lowest starting prices of any software on this list?)

It all adds up to a business plan software that works great for internal planning.

GoSmallBiz: Most extra features

Want to get way more than just business planning software? Then you probably want GoSmallBiz.

See, GoSmallBiz offers business plan software as part of its service―but it’s just one part of a much bigger whole. You also get everything from discounts on legal services to a website builder to a CRM (customer relationship manager) to business document templates. And more. In other words, you get just about everything you need to get your startup off the ground.

GoSmallBiz software pricing

Don’t worry though―you still get all the business planning help you need. GoSmallBiz gives you business plan templates, step-by-step instructions, and the ability to create financial projections. And if you get stuck, GoSmallBiz will put you in touch with experts who can offer advice.

If you want business planning and much, much more, give GoSmallBiz a try.

• PlanGuru : Best financial forecasting
• EnLoop : Cheapest tool for startups

We recommend the software above for most business planning needs. Some businesses, though, might be interested in these more specialized planning software.

Honorable mention software pricing

PlanGuru: Best financial forecasting features

PlanGuru is pretty pricey compared to our other picks, but you might find its forecasting features worth paying for. It has more forecasting methods than other software (over 20) plus it lets you forecast up to 10 years.

EnLoop: Cheapest tool for startups

EnLoop doesn’t have our favorite features or interface, but it does have really, really low pricing plus a seven-day free trial. It's the most affordable software for startup business planning and still provides all the essential features like financial analysis, team collaboration, charting, and more.

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. * With annual billing

Several of our previous favorite planning software, including BusinessPlanPro and StratPad, seem to have gone out of business.

A business plan is a written, living document that tells the story of your business and what you plan to do with it. It serves as the source of truth for you—the business owner—as well as potential partners, employees, and investors, but it also serves as a roadmap of what you want your business to be.

Why you need a business plan

While some small-business owners don’t see the point of creating a formal business plan, it can have some concrete benefits for your business. For example, one 2016 study found that business owners with written plans are more successful than those that don’t. 1

Still too vague? Then let’s get specific.

If you ever seek business funding (from, say, banks, angel investors , or venture capitalists ), you’ll have to prove that your business deserves the money you want. A formal business plan―complete with financial data and projections―gives you a professional document you can use to make your case. (In fact, most potential investors will expect you to have a business plan ready.)

Even if you’re not seeking funding right now, a business plan can help your business. A formal plan can guide your business’s direction and decision making. It can keep your business accountable (by, for example, seeing if your business meets the financial projections you included). And a formal plan offers a great way to make sure your team stays on the same page.

What to include in your business plan

Not all business plans are created equal. To make a really useful business plan, you’ll want to include a number of elements:

• Basic information about your business
• Your products/services
• Market and industry analysis
• What makes your business competitive
• Strategies and upcoming plans
• Your team (and your team’s background)
• Current financial status
• Financial and market projections
• Executive summary

Of course, you can include more or fewer elements―whatever makes sense for your business. Just make sure your business plan is comprehensive (but not overwhelming).

How business plan software can help

With so many elements to include, business plan creation can take a while. Business plan software tries to speed things up.

Most business plan software will include prompts for each section. In some cases, you can just fill in your business’s specific information, and the software will write the text for you. In other cases, the software will give you specific guidance and examples, helping you write the text yourself.

Plus, business plan software can help you stay organized. You’ll usually get intuitive menus that let you quickly flip through sections. So rather than endlessly scrolling through a long document in a word processor, you can quickly find your way around your plan. Some software even lets you drag and drop sections to reorganize your plan.

Sounds way easier than just staring at a blank page and trying to start from scratch, right?

Choosing business plan software

To find the right business plan builder for your business, you’ll want to compare features. For example, would you rather write your own text, getting prompts and advice from your software? Or would you rather go with a fill-in-the-blank method?

Likewise, think about the elements you need. If your plan will have a heavy focus on finances, you’ll want to choose business plan software with robust financial projection features. If you care more about market and competitor analysis, look for software that can help with that research.

You may also want to find business plan software that integrates with your business accounting software . Some plan builders will import data from Xero, QuickBooks, etc. to quickly generate your financial data and projections.

And of course, you’ll want to compare prices. After all, you always want to end up with software that fits your business budget.

The right business plan software can make your life easier. With LivePlan ’s wide breadth of features and online learning tools, you can’t go wrong. Plus, BizPlanBuilder 's one-time pricing makes it easy to invest while Business Sorter has a low starting cost. And if you're business is looking to grow, GoSmallBiz and Wise Business Plans will scale with you.

But of course, different companies have different needs. So shop around until you find the software that’s best for you and your business.

Now that you've got a business plan, take a look at our checklist for starting a small business.  It can help you make sure you have everything else you need to get your startup off to a good start!

Related content

• 7 Steps to Build a Successful Project Management Sales Plan
• Best Project Management Software and Tools in 2023
• 4 Cost Management Techniques for Small Businesses

Creating a business plan can take anywhere from a couple hours to several weeks. Your timeline will depend on things like the elements you choose to include, whether you use software or hire a writing service, and how much research goes into your plan.

That said, much of the business plan software out there brags that it can help you create a fairly detailed plan in a few hours. So if you’re going the software route, that can help you set your expectations.

If you want to get the most out of your business plan, you should update it on a regular basis―at least annually. That way, you can continually refer to it to inform your company’s strategies and direction.  

At the very least, you should update your business plan before you start looking for a new round of funding (whether that’s with investors or lenders).

Thanks to business plan software, you can easily write your own business plan rather than pay someone to do it for you. And in most cases, software will cost you less than a professional business plan service.

There are some times you might want to go with a service though. If time is tight, you might find that it’s worth the cost of a service. Or if you’ve got big investor meetings on the horizon, you might want the expertise and polish that a professional service can offer.

Ultimately, you’ll have to decide for yourself whether business plan software or a business plan service will work better for your company.

Methodology

We ranked business plan software and tools based on features, pricing and plans, and connections to project management and other services. The value of each plan and service, along with what it offers, was a big consideration in our rankings, and we looked to see if what was offered was useful to small businesses or just extra. The final thing we looked at was the ease of use of the software to see if it's too complex for small businesses.

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

Sources 1. Harvard Business Review, “ Research: Writing a Business Plan Makes Your Startup More Likely to Succeed .” Accessed March 13, 2023.

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10 Best Business Plan Software and Tools for Better Productivity

Fast fact: 70% of businesses that survive for 5 years follow a strategic business plan. 

That makes having a comprehensive and compelling business plan a no-brainer for long-term business growth. It serves as a roadmap for your venture and demonstrates your vision, strategy, and potential to investors and stakeholders. 

However, drafting a business plan from scratch can take time and effort, especially for those with limited experience and resources. Fortunately, many excellent business plan software solutions are available to make the process easier.

This article covers the top 10 business plan software options available in 2024. Each offers unique features, pricing structures, and capabilities to cater to diverse business needs. 

Let’s get right in!

10 Best Business Plan Software for 2024

1. Upmetrics 2. LivePlan 3. Enloop 4. BizPlan 5. GoSmallBiz 6. Business Sorter 7. iPlanner 8. Cuttles 9. MAUS Master Plan Lean 10. Storydoc 11. Retable

1. Upmetrics

Upmetrics is a modern and AI-powered business plan generator that simplifies the complexities of creating a comprehensive business plan. With its intuitive business plan builder and built-in templates, Upmetrics allows users to customize their plans and forecasts according to their specific needs.

The newly launched AI assistant can help users create a business plan from scratch within 10-15 minutes. All you need to do is enter some information about your business and see your plan coming through.

Key Features:

• 400+ customizable business plan templates
• AI Pitch Deck Creator
• Strategic Planning Tools
• Financial forecasting capabilities

Pricing: Starter plan at $7/month, Premium plan at $14/month. (annual billing)

2. LivePlan

LivePlan is a comprehensive and user-friendly business plan software that serves to businesses of all sizes and industries. It offers a user-friendly interface and step-by-step guidance to make the process of crafting a professional business plan easier.

• Customizable templates and industry-specific examples
• Financial forecasting and budgeting tools
• Pitch deck and presentation mode
• Real-time collaboration and sharing capabilities
• Expert advice and educational resources

Pricing: Starts at $20/month for the basic plan, with more advanced options available.

Enloop is a cloud-based solution designed specifically for creating business plans for investors, banks, and lenders. Enloop’s writing and text synchronization features can help you streamline business plan creation for you. Let’s check out some of its best features.

• Free version for testing the solution
• Available in multiple languages
• Interactive PDF export
• Step-by-step guidance and templates

Pricing: Basic plan starts at $9/month, with more advanced plans ranging from $11 to $40/month.

BizPlan is a versatile business plan builder that connects to the Startups.com network, making it an ideal choice for startups seeking investment. With its step-by-step approach and the Progress Tracker tool, BizPlan helps users stay organized and on track.

• Connectivity to Findable for attracting financial investment
• Online educational programs for entrepreneurs
• Multiple owner access to a single account
• A lifetime access option is available

Pricing: Monthly plan at $29/month, annual plan at $249/year, or lifetime access for $349 (one-time fee).

5. GoSmallBiz

GoSmallBiz is an online support system specifically designed for small businesses and startups in the United States. In addition to business plan creation, GoSmallBiz offers valuable resources and educational materials to help to aspire entrepreneurs succeed.

• Access to up-to-date management information
• Unlimited access to online consultants
• Customer database for attracting and retaining customers

Pricing: Monthly fee of $39.

6. Business Sorter

Business Sorter is a cloud-based solution that simplifies the process of creating internal business plans. Featuring a user-friendly card system and pre-designed solutions tailored to different business needs, Business Sorter is perfect for entrepreneurs who aren’t looking for investor-focused presentations.

• 173 digital cards for comprehensive business planning
• Unlimited team member access and monitoring
• Multi-device accessibility
• Built-in help function and strong data protection

Pricing: Cost depends on the number of users, with a special offer for companies with an unlimited number of team members.

7. iPlanner

iPlanner is a multifunctional platform for business planning and project management. The tool provides a variety of business plan templates and financial forecasting tools , making it suitable for a broad spectrum of startups, from restaurants to large enterprises and venture capital initiatives.

• Step-by-step business plan creation wizard
• Integration with Microsoft Office and DropBox
• Training content library with practical recommendations
• Experienced mentor support

Pricing: Professional Plan at $55 (supports 1 project), Corporate Plan at $93 (supports 12 projects), and Corporate Plus (custom pricing).

Cuttles is a fully interactive business planning software with a focus on planning, budgeting, and financial forecasting. With its ready-made templates and multi-language support, Cuttles caters to a global audience of entrepreneurs.

• One-page business plan template for banks, investors, and lenders
• High-level security through cloud storage
• PDF export for business plans
• Online training courses and resource library

Pricing: Seed Plan at $8/year (1 startup, 1 user), Grow Plan at $16/year (1 startup, unlimited users), and Series Plan at $48/year (unlimited startups and users).

9. MAUS Master Plan Lean

MAUS Master Plan Lean is an Australian-based business plan creation software designed for strategic planning. With its comprehensive toolset, MAUS Master Plan Lean helps users create actionable plans, track tasks, and monitor performance.

• Strategic planning wizard
• Step-by-step action plan creation and task tracking
• Schedule creation and collaboration tools
• Real-time marketing reports and performance tracking

Pricing: Business Planning & HR Pack at $97/month, MasterPlan Learn at $299/year, and Business Planning Pack at $499/year.

10. Storydoc

Storydoc is a business plan creator designed to help entrepreneurs and businesses create outstanding and innovative business plans, as well as other types of presentations. With its intuitive interface and a wide range of features, Storydoc makes it easy to organize and present various aspects of your business plan.

• Ready-made interactive slide templates optimized for engagement
• Robust integrations with existing tech stack
• Ability to pull company branding directly from website
• Extensive analytics panel for tracking performance

Pricing: Starter plan at $40/month per user, Pro plan at $60/month per user, and custom Team plans (pricing available upon request).

11. Retable

Retable is a versatile and intuitive project management and data management software designed to streamline operations of all sizes of business. With its easy-to-use interface and robust feature set, Retable makes managing data sets, tasks and projects simpler and more efficient.

• Customizable templates for various use cases
• Advanced data views like grid, kanban, list, card, calendar, chart, map and form
• Collaborative workspaces with real-time updates
• Organization, team and role management
• Integration with popular productivity apps
• Over +30 column types
• Custom branding

Pricing: Starts at $12/month for the team plan.

Why use business plan software?

Using business plan software offers several advantages over creating a business plan from scratch. These software solutions are designed to streamline the process, provide guidance, and ensure a professional and well-structured outcome. Here are some key reasons to consider using business plan software:

Time-saving: Business plan software automates many tasks, such as formatting, financial calculations, and data organization, saving you valuable time and effort.

Guided approach: Most business plan software provides step-by-step guidance, prompts, and templates to ensure you cover all essential components of a comprehensive business plan.

Professional presentation: These software solutions offer built-in tools to create visually appealing and professional-looking business plans, increasing the chances of impressing potential investors or stakeholders.

Financial forecasting: Advanced financial forecasting tools help you create accurate financial projections, a critical component of any successful business plan.

Collaboration and sharing: Many software options offer collaboration features, allowing multiple team members to contribute to and review the business plan, ensuring a cohesive vision.

By using the power of business plan software, you can simplify the process, improve efficiency, and create a compelling and comprehensive business plan that effectively communicates your vision and increases your chances of success.

How to Choose the Right Business Plan Software?

With so many business plan software options available, choosing the right one for your needs can take time and effort. Here are some key factors to consider when selecting the best business plan software:

Ease of use: Look for software with a intuitive navigation & user-friendly interface to ensure a smooth learning curve and efficient workflow.

Industry-specific templates : Consider software that offers customizable templates and industry-specific examples relevant to your business sector.

Financial forecasting capabilities : Evaluate the financial forecasting tools and their ability to create accurate projections based on your business data.

Collaboration and sharing features: If you plan to involve multiple team members or stakeholders, prioritize software with robust collaboration and sharing capabilities .

Educational resources and support: Software that provides educational resources, such as tutorials, expert advice, and customer support , can be invaluable, especially for first-time business plan creators.

Integration with existing tools: Consider software that easily integrates with your existing platforms and tools, such as accounting software or cloud storage solutions.

Pricing and scalability: Evaluate the pricing plans and ensure they align with your budget and long-term goals, considering the potential for business growth and scalability.

By carefully assessing your specific needs and prioritizing the features that matter most to your business, you can select the best business plan software that will streamline the process and maximize your chances of success.

Creating a well-crafted business plan is similar to preparing a business proposal , it should be neat & clean, to the point, and engaging enough to attract investors or partners. The top 10 business plan software options discussed offer a wide range of capabilities to cater to diverse needs.

From user-friendly interfaces to advanced financial forecasting tools, collaboration features, and industry-specific templates, tools like Upmetrics streamline the creation of a comprehensive and professional business plan.

Selecting the right software requires careful consideration of factors such as ease of use, financial forecasting capabilities, collaboration features , educational resources, and integration with existing tools.

By utilizing the power of business plan software, you can present your vision with clarity and professionalism, increasing your chances of attracting the resources and support needed for long-term success.

Frequently Asked Questions (FAQs)

Which business plan software is the best?

The best business plan software depends on your specific needs, goals, and budget. Some top options include Upmetrics, LivePlan, Enloop, BizPlan, each offering unique features and pricing structures. Carefully evaluate the capabilities of each software against your requirements to make an informed choice.

How do I create my own business plan?

Start by choosing a business plan software that provides templates, guidance, and tools for different components like executive summaries, market analysis, and financial projections. Follow the step-by-step process outlined by the software, filling in the necessary information and customizing as needed. Leverage the software’s features to create a comprehensive and professional business plan.

What are the different types of business plans?

The main types include standard business plans for presenting to investors or banks, lean business plans without extensive background information, and one-page business plans or pitches. Additionally, there are operational, tactical, strategic, and contingency business plans tailored to different purposes and business stages.

Is business plan software secure?

Most reputable business plan software solutions prioritize security features like multi-factor authentication, intrusion detection, data encryption, and regular security updates. However, it’s crucial to evaluate the specific security measures of the software you’re considering to ensure the protection of your sensitive business data.

Is it necessary for small businesses to use business plan software?

While not strictly necessary, using business plan software can significantly benefit small businesses by streamlining the process, providing guidance, and ensuring a professional outcome. It can save time, improve efficiency, and increase the chances of impressing potential investors or stakeholders.

What are the benefits of using Business Plan Software?

Key benefits include time-saving through task automation, a guided approach with templates and prompts, professional presentation tools, advanced financial forecasting capabilities, and collaboration features for multiple team members. Overall, business plan software simplifies the process and improves the quality of your business plan.

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Create Your Business Plan in Minutes

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Start With Your Idea

Craft Your Vision: Jumpstart your business journey with a brief description of your business. Acknowledge your business type and let us seamlessly transform it into a meticulously structured plan.

Series Of Guided Questions

Easily navigate through each section with Plannit's step-by-step guidance. Enter your own detailed solutions or leverage with AI-generated content and receive helpful prompts and ideas along the way. Plannit's AI capabilities provide insightful and precise content for market analysis, financial projections, marketing strategies, sales plan and more.

Collaborate With Your Partners

Bring your team over! PlannitAI provides a dedicated space where you can invite team members to view, shape and refine your online business plan. With or without the help of our AI model You can reword, rephrase, prolong and shorten sections to your liking. Collaborate in real-time to ensure your business strategy benefits from diverse insights and expertise, leading to a well-rounded and robust plan.

Present With Confidence

With a polished, expertly crafted plan in hand, You have already won half the battle. Confidently present business strategy to investors, stakeholders, or financial institutions.ć Start your journey with Plannit AI and transform your vision into a reality, creating a pathway for that entrepreneur life.

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Work alongside your founders as they build their plan to ensure they have a solid roadmap for scalability.

Funding Ready Business Plan

Executive summary, company overview.

Problem Statement

Business Description

Mission Statement

Business Model

Products and Services

Additional Features

Revenue Model

Market Analysis

Target Market

Market Size and Segments

Unique Value Proposition

Risks and Mitigations

Identified Risks

Mitigation Strategies

Financial Overview

Income Statement

Marketing and Sales Plan

Focus On Your Vision

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Key Features & Benefits

Ai editing companion.

Modify and regenerate sections of your business plan using premade or custom prompts. Our AI will help you refine your plan to perfection.

Multi-User Collaboration

Invite team members with easy sharing to collaborate on your business plan in real-time. Communicate and make changes together. Collaborate with your partners in real-time as you perfect your plan.

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Immerse yourself in a rich library of articles, tools, templates, webinars and resources for continuous business and professional growth. Learn all about the key aspects of starting, running and growing a business.

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We recommend a variety of useful tools and resurces that help sustain your growth. We only recommend the best in the business. Filter your needs and equip yourself with the best tools.

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Take an additional questionnaire about your financial trajectory and get a detailed financial projection + 3 year income statement for your business.

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Plannit Business Ecosystem

Frequently Asked Questions (FAQ)

• Initiate with Your Business Concept: Lay the Groundwork: Start by introducing your business idea into Plannit AI's Business Plan Generator. This first step is crucial, as it sets the tone for a tailored, insightful business plan that truly resonates with your vision. Capture the Essence: Our platform is designed to grasp the nuances of your concept, ensuring that the generated plan accurately reflects the core and potential of your business.
• Navigate Through the AI-Guided Questionnaire: Tailored Interactive Experience: Plannit AI’s AI-guided questionnaire is your interactive guide through the planning process. It meticulously gathers information about your business's objectives, strategies, and market positioning, ensuring a comprehensive and reflective plan. Intelligent Feedback and Suggestions: As you progress through the questionnaire, benefit from smart prompts and suggestions, ensuring that your plan is not just detailed but also strategically sound and aligned with industry standards.
• Generate Your Plan with Advanced AI: Intuitive Plan Creation: With the questionnaire complete, Plannit AI's advanced algorithms intelligently analyze your responses. They then craft a detailed, customizable, and strategically aligned business plan, providing you with a structured, coherent, and actionable format. Benefit from AI-Powered Insights: Plannit AI offers AI-driven insights and suggestions, ensuring your plan is not just a document but a strategic tool equipped with tailored AI prompts and an in-app plan editor. Get inspired by browsing through our sample business plans, a collection of successful strategies across various industries.
• Finalize Your Plan with Confidence: Dynamic Adaptation and Refinement: Plannit AI recognizes that a business plan is a living document. Our platform allows for continuous adaptation and refinement, ensuring your strategy remains agile, relevant, and aligned with your evolving business goals. Professional Presentation and Sharing: Once your plan meets your standards, utilize Plannit AI's export features to present your plan professionally. Choose between various formats for exporting your business plan, ready to impress stakeholders, attract investors, or guide your team. Review and Adapt: Ensure your business plan is a living document, ready to evolve with your growing business. Plannit AI's dynamic platform allows you to adapt your strategy as new opportunities or challenges arise.
• Roadmap for Success: At its core, a business plan acts as a strategic guide, providing detailed steps on how your business will achieve its objectives. It helps you navigate the startup phase, manage growth effectively, and tackle unforeseen challenges with a well-thought-out strategy.
• Securing Funding: For startups and businesses looking to expand, a business plan is crucial for securing loans or attracting investors. It demonstrates to potential financial backers that your business has a clear vision, a solid strategy for profitability, and a plan for delivering returns on their investment.
• Informed Decision-Making: A well-prepared business plan offers valuable insights into your market, competition, and potential challenges. This information is vital for making informed decisions, from day-to-day operations to long-term strategic shifts.
• Market Analysis and Strategy: It allows you to conduct an in-depth analysis of your target market, understand customer needs, and position your product or service effectively. The marketing strategy outlined in your business plan helps in identifying the best channels and tactics to reach your audience and achieve market penetration.
• Financial Planning: One of the most critical components of a business plan is the financial forecast. It outlines your funding requirements, expected revenue, profit margins, and cash flow projections. This section is essential for budgeting, financial management, and ensuring the financial viability of your business.
• Goal Setting and Performance Measurement: A business plan sets clear, measurable goals and objectives. It provides a framework for monitoring performance, measuring success, and making necessary adjustments to stay on track.
• Aspiring Entrepreneurs: If you're at the idea stage, looking to transform your vision into a viable business, Plannit AI offers the tools and guidance to bring your concept to life. Our platform helps you articulate your business idea, define your target market, and develop a solid plan to turn your dream into reality.
• Students and Educators: For students delving into the intricacies of business planning and educators teaching the fundamentals of entrepreneurship, Plannit AI serves as an invaluable resource. It provides a practical, hands-on tool for learning and teaching how to create detailed business plans, analyze markets, and understand financials in a real-world context.
• Startup Founders: In the dynamic startup environment, Plannit AI is the ideal partner for founders looking to pivot quickly, secure funding, or understand their competitive landscape. With our AI-driven insights and market analysis tools, startups can make informed decisions and adapt their strategies to thrive in competitive markets.
• Small Business Owners: For small business owners seeking to optimize their operations, expand their customer base, or explore new markets, Plannit AI offers targeted solutions. Our platform simplifies the planning process, enabling owners to focus on growth while managing the day-to-day challenges of running their business.
• Consultants and Freelancers: Consultants and freelancers specializing in business development, strategic planning, or financial advising will find Plannit AI a powerful addition to their toolkit. It allows them to provide clients with comprehensive, data-driven business plans and strategies, enhancing the value of their services.
• Non-Profit Organizations: Leaders of non-profit organizations can leverage Plannit AI to plan initiatives, secure funding, and manage resources more efficiently. Our platform helps non-profits articulate their mission, set achievable goals, and measure their impact, ensuring they can make a difference in their communities.
• Innovators and Inventors: Individuals looking to commercialize innovative products or technologies can use Plannit AI to navigate the complexities of bringing new ideas to market. From patent strategies to go-to-market plans, our platform covers all bases, ensuring innovators can focus on what they do best.
• Small Business Development Centers (SBDCs) and Government Agencies: Government and SBA backed entities can greatly benefit from integrating Plannit AI into their services, enhancing their ability to support a larger number of clients more efficiently. By facilitating quicker, more in-depth business plan development, these organizations can spend more time assisting with plan execution and less time on creation, ultimately serving their communities more effectively.
• Anyone with a Business Idea: Ultimately, Plannit AI is for anyone with a business idea, regardless of industry, experience, or stage of business development. Our mission is to democratize business planning, making it accessible, understandable, and actionable for everyone.
• Interactive Questionnaire and ChatGPT Integration: Plannit AI transforms the business planning process into an engaging conversation. Through our advanced ChatGPT integration, we offer a questionnaire that dynamically adapts to your responses, ensuring your plan is personalized, comprehensive, and aligned with your business goals.
• Dynamic Planning Environment: Unlike static templates provided by many, Plannit AI introduces a living platform that grows with your business. It features real-time updates, strategic insights, and a feedback mechanism that keeps your business plan current and actionable.
• Extensive Educational Resources: Our Education Center is packed with articles, guides, and sample plans to bolster your planning process. It's designed to arm you with the knowledge to navigate the complexities of your industry confidently.
• Enhanced Collaboration and Customization: Recognizing the collaborative essence of business planning, Plannit AI supports team efforts with multi-user editing, annotations, and feedback features, ensuring a comprehensive approach to your strategy.
• Customer Success Stories: Our users' achievements are a testament to Plannit AI's effectiveness. These success stories illustrate how diverse businesses have utilized our platform for strategic planning and growth.
• Tailored Business Plan Creation: Our platform stands out with its tailored approach, featuring customizable templates that directly cater to your business type and industry, making plan creation straightforward and relevant.
• Content Generation:: ChatGPT helps draft various sections of a business plan, from executive summaries to marketing strategies, by providing structured and coherent text based on the prompts given.
• Strategic Insights: It can offer suggestions on business strategies by analyzing trends and providing examples from a wide range of industries.
• Financial Planning: While it can't replace professional financial advice, ChatGPT can guide the structure of financial projections and statements, helping you consider important financial aspects of your plan.

Privacy & Security

Rest assured, we never share your data with third parties. Your privacy is our top priority, and we're committed to keeping your information safe and confidential.

Take The First Step Towards Success

7 Best Business Plan Software for Startups in 2024

| Written by

Launching a new startup is an exciting yet challenging endeavor. Crafting a comprehensive business plan is a critical first step for any founder to outline their vision, objectives, and strategy. It acts as a roadmap to help guide important decisions and next steps as a company grows.

With so many options available, finding the right business planning tool can be daunting. The best software should be affordable, user-friendly, and offer a robust set of features to aid in financial modeling, strategic planning, and more.

In this review, we’ll explore some of the top business plan software solutions designed specifically for entrepreneurs. We’ll compare capabilities, ease of use, templates and resources, integrations, pricing, and more. Whether you’re looking to create an investor-ready plan or simply organize your strategy, choosing the right tool can help you get started on the right foot.

Our #1 Pick: LivePlan

Save time and create a professional business plan with intuitive tools and step-by-step guidance.

Unsure if LivePlan is right for you? Continue reading our comprehensive review below to learn more and explore your options.

Best Business Planning Tools

In this review, we’ll look at seven of the best business plan software platforms — discussing their pros, cons, features, pricing, and more — so you can decide which one is right for your startup.

Best Business Plan Software for Startups 2024:

• LivePlan – Best Overall
• Bizplan – Easiest to Use
• Enloop – Best Automation Features
• PlanGuru – Best Financial Forecasting
• IdeaBuddy – Best for Idea Validation
• iPlanner – Best for Nonprofits
• Wise Business Plans – Best Professional Services

The following tools all have their own great features. Based on its affordable pricing and usability, LivePlan is our top business plan software choice for startups.

Try LivePlan today or continue reading to explore your options!

Best Business Plan Software: LivePlan

LivePlan is the overall best business plan tool, offering a large number of features at an affordable price.

1. LivePlan – $15/month to $30/month

We love LivePlan overall because it offers great value at an affordable cost. The software lets you quickly create a business plan from anywhere in the world using what is arguably the best business plan software available on the market. It does everything better than its competition and costs way less.

What’s more, the online “cloud-based” platform is easy to use and you are under no contract or obligation to keep paying for the service. Even better, if you decide to stop service for whatever reason, Palo Alto Software, the makers of LivePlan, will keep your account active and data preserved for at least a year should you decide to reactivate your account later.

• Create an unlimited number of business plans
• A forecast feature for those less mathematically inclined. Plug in data, and it will generate charts, graphs, figures, and even the profit and loss, balance sheet, and cash flow statements
• 500+ business plan templates spanning all major industries
• Real-time financial data tracking
• Performance dashboards track sales and budgeting
• Create one-page pitch plans for potential investors
• Milestone scheduling feature — Some people will use it when working with others on their plan; it will let you assign milestones to people.
• Low-cost annual plans
• Affordable pay-as-you-go plans
• No cancellation fees
• Data saved for 12-months, even after cancellation
• Clean, modern platform
• Cloud-based; works on any business machine (Linus, Windows, Mac)
• Integrates with Quickbooks and Xero to import your data easily
• Knowledgeable customer support to get help with your plan
• No valuation capabilities
• Templates built on Palo Alto Software’s earlier software Business Plan Pro require some modifications to be used on LivePlan

Insider Information

Talking to the nice people at LivePlan we learned some inside information that we wanted to share with our readers.

Here’s what we learned:

• LivePlan has been used by contestants on ABC’s hit show “Shark Tank” to win over angel investors to help them get their ideas and businesses funded.
• Accountants use LivePlan as an added-value service to sell to their clients.
• Businesses continue using LivePlan because of a feature called “Dashboard” which lets you manually enter your actuals or pull actuals from Quickbooks online to do comparative forecasting and analysis.
• LivePlan helps with business continuity planning (BCP).
• LivePlan executives use LivePlan to make important business decisions.
• “Dashboard” does profit and loss, cash flow, and balance sheet reports and lets you compare and contrast your actuals from your forecasts to be able to show to investors.
• LivePlan lets you create business plans in 1/5th the time it takes using templates.

Customer Reviews

LivePlan receives great feedback from customers. LivePlan reviews average 4.5 stars out of 5 on GetApp. LivePlan is an easy company for us to recommend for the best business plan software.

2. Bizplan – $29/month, $249/year, $349 lifetime

Bizplan rates high on our list because they offer a lifetime plan that gets you “forever access” to their business plan software. As an added bonus, you also receive free access to Startup Courses and LaunchRock, a landing page builder.

• Easy, “fill-in-the-blanks” plan builder
• Publish your business plan online
• Unlimited business plans
• Bizplan takes care of the financials
• Cloud-based (use any browser on any computer)
• Options to add more graphics and photos
• Low-cost yearly plans
• Create unlimited business plans
• Xero to import your data easily
• Excellent and responsive customer support (email/chat/phone)
• Free access to Startup.com and LaunchRock.com
• Discount at Fundable.com (connect with lenders and investors)
• Can’t export in Word
• Doesn’t currently integrate with QuickBooks
• No free trial
• No third-party app integrations

Talking with BizPlan insiders, we learned that the premise behind BizPlan is to help startups easily create professional business plans to give them a leg-up with lenders and investors.

Here’s what else we learned:

• BizPlan’s does all your financial calculations for you.
• BizPlan strives to be an all-in-one solution for Startups needing funding.
• BizPlan is constantly making improvements to its software.

BizPlan receives great feedback from customers. BizPlan reviews average 4.4 stars out of 5 on GetApp. Still a relatively new option, BizPlan already has over 30,000 satisfied customers. As their platform grows, we wouldn’t be surprised to see them integrate even more valuable features. Keep a close eye on this one.

3. Enloop – Free to $39.95/month

If you’re looking to try before you buy, Enloop is a strong choice as one of the only business planning software tools with a free trial.

• User-friendly platform
• Compare your financials against your industry’s performance
• Bank ready financial statements (Profit and Loss, Balance Sheet, Cash flow)
• Lets multiple team members work on a business plan
• 36-Month detailed financial reports
• Sync date and text into your business plan
• Real-time performance rating
• Generated business plan Pass/Fail report
• Multiple currency formatting
• Seven-day free trial (no credit card required)
• Advanced financial ratios
• Financial projections
• Video tutorials to help you with the writing process
• No phone or chat support, just a “contact us” form.
• Three business plan limit per account
• Doesn’t integrate with QuickBooks or Xero
• No financial forecasts beyond 36-months
• No 30-day money-back guarantee

We learned that the premise behind Enloop is to make business planning easier for entrepreneurs. Enloop achieves this by making software simple to navigate through and takes risks off the table with their no credit card needed seven-day free trial. Their business plan creation software offers financial forecasting features for up to 36 months.

• Enloop utilizes 16 financial ratios to get your business ready for investors.
• Enloop offers some sample business plans that are easy to modify.
• Enloop’s performance score increases as you create your detailed plan.
• A new business or small businesses benefit the most from Enloop’s solutions.

Enloop receives fair feedback from customers. Enloop’s reviews average 3 stars out of 5 on PCMag. Enloop’s main complaint is its lack of instructional text for writing mission statements and other key sections. What they rank high on is their efficiency and the speed at which the software lets you write a business plan.

Even beyond the free version, Enloop Basic is just $9.95/month ($6/month when paid annually), so they’re one of the least expensive tools for writing a business plan.

4. PlanGuru – $99/month to $299/month

PlanGuru is a good option if you’re looking for considerably more robust software that offers quite a bit more. The most notable feature we like is the valuation tool, only present on the desktop version of the software. PlanGuru lets you calculate the valuation of your business using three different methods. No other business plan software offers this that we know of.

PlanGuru also offers budgeting, forecasting, and performance tools to help you put together a business plan. In the main, PlanGuru allows you to get a custom-tailored three financial statement budget model up and running out of QuickBooks or Xero in a matter of minutes. PlanGuru’s business plan writing software takes you through a setup process where it asks you questions such as:

• What’s the first month of your fiscal year?
• How many historical years do you want to import?

And, once you answer these questions, PlanGuru then generates a model for you that you can then populate with your historical data if you have it. Then you can go through PlanGuru’s 20+ projection methods.

Some financial data projection methods include:

• Expenses, like payroll, etc.
• Balance sheet items, like accounts receivable, accounts payable, crude expenses, prepaid expenses, loans, etc.

These are only a few of the features the business plan software offers. Here are some more.

• Budgeting/Forecasting Software
• Analytics Service for Financial Performance & KPIs
• Valuation calculations (desktop software only)
• Desktop and cloud-based options
• Free 14-day trial and 30-day money-back guarantee
• Great customer support and knowledgeable sales staff
• Lower-cost yearly plans offered
• Advanced financial calculations
• Business valuation calculations
• No contracts
• Integrates with QuickBooks and Xero
• Costlier than LivePlan and most other business plan software options
• Additional cost per user can add up quickly

The great thing about PlanGuru is that the only thing you have to worry about is the income statement and balance sheet projections because the cash flow statement is automatically generated.

Then once you have the cash flow statement, income statement, and balance sheet in place, you can then lock down the budget.

• PlanGuru’s desktop version has three different types of valuation methods that calculate the worth of your business.
• PlanGuru has some really nice reporting tools that pull together your financial statements into table formats, say, for the bank, line-by-line.
• PlanGuru also has some nice charts, graphs, scorecards, and some easily digestible reports that can help you visualize how your company is performing.
• Exports to Excel, PDF, and Word documents –and, there’s even a tool that lets you create customized reports.
• You can print your plan off too to show partners, lenders, and investors.
• PlanGuru now offers a cloud-based version of its software, though it will take some time to catch up to the rich features offered by the current desktop software version.
• With PlanGuru you also get free updates, bug fixes, and new releases as they become available.

Important Note: These tools are important because investors may want to see not only historical performance but also projections.

5. IdeaBuddy – Free to $35/month

IdeaBuddy makes our list because of what’s behind their approach. IdeaBuddy focuses on helping entrepreneurs develop their idea first, then share it, and then refine it into a plan. If you have a business idea and don’t know what to do next, IdeaBuddy could be what you’re looking for in a business plan software.

• Single-page business plan pitch (Idea plan)
• Clean modern design platform combined with great financial tools
• Marketing plan for selling and promoting your products
• Market overview plan where you create targeted customer profiles, identify your competition and calculate the market potential
• Business plan creation that includes forecasting performance and cash flow projections
• A proprietary algorithm calculates a final score for your idea providing recommendations for improvement after you complete “Story Mode”
• Idea Journal, that is an internal business plan for you to show potential investors
• A lifetime plan costs only $178
• Great for developing ideas
• Great for doing market research
• Pay-as-you-go plans offered
• Email-only customer service
• Software lag time issues
• Fewer software options than most other small business options

IdeaBuddy has some great features that are fantastic from idea conceptualization down to cost projections and the laying out of steps to take to start a business. We would have liked, however, to been given more KPIs that would notify us of tasks, help with idea validation, and help us measure other objectives to better monitor the health of our business. Another thing lacking was the design of the finished plan–it contained some noticeable structural issues.

IdeaBuddy has received some outstanding customer reviews on GetApp. IdeaBuddy has earned a 4.6-star rating out of 5 possible stars.

6. iPlanner – Starts at $55/year

iPlanner is a comprehensive business plan software that has been aiding entrepreneurs since 2007, providing a robust framework for developing business plans, models, and financial forecasts online.

• Unlimited Team Members & Collaboration
• A La Carte Pricing Model vs Packages
• Discounts for Serial Entrepreneurs & Business Coaches
• Solid amount of industry knowledge and experience.
• They’ve got two trademarked business planning services, Startup Framework™ and Strategy Designer™
• All of their business planning packages allow you to have unlimited collaborators and assign people three different roles: Project Owners, Advisors, and Viewers.
•  Their Startup Framework software has a business modeling section where you can design a business model canvas and strategize as much as you need before diving into your plan.
• Doesn’t have a month-to-month option for either of their services. Their Strategy Designer is payable only annually, while their Startup Framework is available for 3-month, 6-month, or 12-month payments.
• They don’t offer refunds
•  Their website is pretty old school and tough to navigate.
•  Unlike other business planning software, iPlanner doesn’t offer a free version or trial. However, you can take a tour of their Startup Framework software or view a demo of the Strategy Designer to get a feel for them.

iPlanner’s Business Planning Software

If a simple framework is all you’re looking for, iPlanner can help you out. They don’t have many bells and whistles, but at these price points, they offer a good value for nonprofits and corporations.

7. Wise Business Plans – Pricing by Request

Wise business plans website is a little confusing to navigate, and pricing is by request only, which can get frustrating. They do have a lot of options for different kinds of business plans for various types of business types, which makes them versatile. They also have business building and funding options as well. And, if you wish to establish business credit, they offer net-30 accounts that get reported to Equifax business.

• Claim to be the only business plan company to write for Fortune 100 and 500 companies
• Business formation services
• Business license searches
• EIN services
• Digital marketing services
• Business website design and branding
• Has a lot of helpful information
• Helpful options for forming your business
• Options to help after you start your business
• Helps small businesses establish business credit
• Not an actual business plan software
• Expensive by comparison
• Website is difficult to navigate
• Pricing is by request only
• Limited products and features
• Turnaround is one month
• Requires some work on your end

Business Plan Software Pros and Cons

• By using business plan software providers, you’ll be able to create a solid outline for your business. Although some of the options above are better than others, each will walk you through from start to finish.
• No matter how you look at it, business plan software is cost-effective. As long as you actually use the tool, you’ll generate significantly more value than you’re spending on monthly subscription fees.
• If you spend the time to create a solid plan, you’re much more likely to hold yourself accountable. Think of planning software like an accountability buddy for entrepreneurship.
• Your business plan tool will help set realistic financial goals, and most can also keep your bottom line in check by integrating your accounting software.
• Business planning software enables you to collaborate with partners, mentors and investors.
• Some of the business plan tools don’t offer support and can have slightly buggy features. That said, if you’re serious about writing a solid plan, go with a tool that’s constantly updated and well made.
• Although some business plan tools have a collaboration feature, none of them can review it when you’re done. All business planning tools lack a human touch.

How to Choose the Right Business Plan Software

With the array of business planning tools available, it can be daunting to select the right one for your needs. Here are some tips for choosing a business plan software solution:

• Consider your skill level – Opt for software like a wizard-guided template if you are less experienced in writing plans. Choose more advanced software with greater flexibility once you know what you are doing. Look for drag-and-drop tools to easily organize sections.
• Determine your budget – Prices range from free to several hundred dollars. Know how much you can spend before shopping.
• Compare features – Look for software with the specific tools you need, like financial projections, sample text, customizable templates, and more.
• Evaluate the financial tool capabilities – The software should provide extensive financial tools like forecasting, modeling, projections, and dashboards to streamline financial planning.
• Check reviews and ratings – Get feedback from other users about their experience with the software. High reviews indicate easier, more user-friendly software.

Which Is the Best Business Plan Software?

You know the unique requirements of your startup better than we do. These are all quality services that offer business planning software tools for entrepreneurs like you. Feel free to read over our full reviews if you’d like to know more about any of them or even visit the websites directly.

In general, we do prefer LivePlan because they have a huge library of business plan templates, and we love their convenient dashboard. They’re the planning software that is most likely to help you via customer support, continue updating their tool, and figure out ways to make your business experience better. Enjoy!

What is the purpose of a business plan?

The purpose of a business plan is to provide a structured outline and roadmap for a business’s goals, strategies, and operations. It serves as a guide for decision-making, resource allocation, and management. 

Furthermore, it can be a crucial tool for attracting investors, securing loans, and ensuring that all stakeholders have a clear understanding of the business’s direction and objectives.

What does business plan software do?

Business plan software assists entrepreneurs and businesses in creating, organizing, and refining their business plans. It provides tools, templates, and guidance to streamline the planning process. 

Features often include financial forecasting, market analysis, visual aids like charts and graphs, collaboration capabilities, and even integration with other business tools. This software aims to simplify the task of creating a thorough and professional business plan.

How do you write a business plan?

To write a business plan, start by writing an executive summary that provides an overview of your business idea, products/services, market opportunity, and projected growth. Outline your company description, industry analysis, target customers, competitive advantage, marketing and sales plans, operations, management team, and financial projections.

How long should a business plan be?

The length can vary based on the complexity of the business, its stage, and its intended audience. In general, it might range from 15-50 pages. However, the key is to ensure that the plan is comprehensive yet concise. 

For many situations, especially when seeking investment, a more detailed one is preferable. Yet, for internal purposes or for businesses at very early stages, a shorter, more concise plan might suffice.

Are there business plan templates on Word?

Yes, Microsoft Word has business plan templates you can download and customize. The templates provide section headings, instructions, sample text, and tables to input your specific business information.

What is Palo Alto Software?

Palo Alto Software is a company that’s been around since the late 1980s. They created business management software for startups and existing businesses. The software has since been updated and rebranded as LivePlan and today happens to be one of the most sought-after business plan software available in the marketplace.

Individual Business Plan Reviews

Further Reading

• What Is a Business Plan? July 2, 2024
• Lean Startup Business Plan Guide July 2, 2024
• The 7 BIGGEST Business Plan Mistakes to Avoid July 10, 2024

Topics to Explore

• Startup Ideas
• Startup Basics
• Startup Leadership
• Startup Marketing
• Startup Funding

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Convey the exact mood you desire for your business plan with over a million images, thousands of icons, dozens of charts and data widgets to visualize information in an engaging way. Apply a color scheme to all your slides with one click. Add animation effects, transitions, interactivity, pop-ups, rollovers and third-party content to support your business case.

Speed things up with Visme AI Designer

Go from a text prompt to a ready-to-use design in mere minutes with Visme AI Designer (Beta). Do you need to create a business plan but lack the time? Let Visme AI Designer help you save time and effort. Describe your desired project to our AI Designer Chatbot, choose a style, and relax as AI Designer generates your project.

Apply our simple business plan template to give you a head start.

Meet the Team

Mission Statement

Product Overview

Value Propositions

Industry Landscape

Market Size

Customer Descriptions

Market Growth

Competitive Comparison

Competitive Advantage

Business Growth Projections

Marketing Mix

Conversion Funnels

Funding Needed

Share Your Business Plan

Finished your business plan and ready to share with the world? Visme’s business plan template makes it easy to publish, download and get feedback on your design. Simply download as a high resolution image or PDF, or publish it to the web and send a link to access it.

LEARN ABOUT BUSINESS PLANS

What is a Business Plan ?

A business plan is a written document or presentation that allows business leaders to share the business potential and goals, as well as your plans for the future. The business plan is a key step in working towards getting investors looking at your product.

If you're looking to flesh out a new business idea or venture in order to get cofounders or investors on board, you need a business plan. Get started with one of our templates to give you a starting point and framework for your own plan.

Why do I need a business plan?

Writing a business plan is a key step in securing funding and convincing high level executives that your business is worth their time. A well-executed business plan is crucial to the success of a business and it’s one of the first steps you should take.

EVERYTHING YOU NEED + MORE

Make Your Business Plan Stand Out

Take your business to new heights with a beautifully designed business plan. Our tools put the power of visual communication in the hands of entrepreneurs and business owners, no matter their level of design skills.

MAKE IT ENGAGING

Interactivity

Highlight your business’ unique selling point with interactive hotspots and rollover effects. Capture the attention of investors and stakeholders with interactive content.

VISUALIZE YOUR DATA

Charts & Graphs

Showcase in-depth data, statistics, and financial projections in a unique way. Harness the power of data visualization with Visme’s professional infographics, charts and graphs.

MEASURE THE IMPACT

Gain insight into the impact of your business plan with an analytics report. Track how many people have viewed your business plan and gauge its effectiveness.

HOW IT WORKS

How to Make a Business Plan in 5 Steps

If you are wondering how to write a business plan, you’ve come to the right place. Instead of starting your business plan from scratch, use our business plan templates to get you going in no time.

Learn more about creating your own business plan presentation or document by going through our step-by-step tutorial below or watching this quick video.

• Log into your Visme dashboard or create a new account, then click Create New Project.
• Access our business plan templates by searching for “Business Plan” in the search box.
• Select the template, then customize the content for your business.
• Update any charts and graphs to reflect your business goals.
• Once all your content is added, customize colors, logos, icons and more.

Questions About the Business Plan Template

How much does it cost to create a business plan with the business plan template, what types of charts and graphs are available in visme, can i use my brand kit to create my business plan with visme, is the business plan template completely customizable, can i use any photo in the image library in my business plan, your business plans deserve to be beautiful and so does the rest of your content.

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Best business plan software of 2024

For planning your business finance

Best overall

Best budget, best established, best for speed.

• How we test

The best business plan software makes it simple and easy to plan your business finances in order to present them to a bank or investors.

1. Best overall 2. Best budget 3. Best basic 4. Best established 5. Best for speed 6. FAQs 7. How we test

The whole point of a business plan is that it allows you to evaluate your strengths and weaknesses, not least via your Unique Selling Point (USP) ,and make product or service comparisons with competitors.

Of course, even the best business plan relies on estimates and guesstimates, as it's impossible to predict market changes, developments, and future performance under such conditions. 

Ultimately, though, a business plan will demonstratively prove why your business is a solid enough investment to risk putting money into, and shows that you have properly and thoroughly researched your market, and details the real potential of a new business opportunities.

Here then are the best business plan software providers currently available.

You may also be interested in our featured business guides on best business laptops , best business computers and best business smartphones .

The best business plan software of 2024 in fill:

Why you can trust TechRadar We spend hours testing every product or service we review, so you can be sure you’re buying the best. Find out more about how we test.

Reasons to buy

Reasons to avoid.

Bizplan is the online business planning tool that claims usage of 30,000 startup founders from the Startups.co platform. They use a guided creator that can break the big project down into the component pieces that get tracked with a Progress Tracker, and expert guidance each step of the way including templates that can be dropped in, and completed, along with simple integration of visuals along the way.

Additional resources are also provided via the Bizplan Academy, with lessons on relevant topics, for example, “Building a Brand: How to Tell a Powerful Brand Story,” and “Critical Path Your Way to Higher Revenues,” among the many offerings. Those that need even more assistance also can take advantage of an expert consultation from a financial expert.

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2. PlanGuru

PlanGuru is a comprehensive, and powerful software package in the business planning space. Education is provided via a series of case studies at their PlanGuru University and a whole slew of video tutorials.

The feature set includes flexible budgeting that can handle a simple small business, or a larger multi-department operating budget, and financial forecasting that uses multiple methods, including intelligent and turn-key methods - twenty methods in total. Historical results can also be imported with the general ledger import utility which can then applied to produce a rolling forecast. They also offer PlanGuru Launch, a service to bring in expertise and is charged per hour of assistance.

A significant downside is Planguru charges a higher cost than other software options. The cheapest option is around $75 per month for one business entity when billed annually. While there is no free trial, PlanGuru does offer a 30 day money back guarantee. 

Our expert review:

Enloop is a great choice for business planning software for the cash strapped business as it is the rare offering that has a free tier. Step up up to the next tier, and this is no barebones product, as it has over 100 currency symbols, can automatically generate bank-ready financial reports, and even has automated text writing that can sync with financial data to turn it into text. There is also a real time performance score assigned, that dynamically changes as the business plan is strengthened.  

The plans start with the Free tier, which is limited to a single business plan with simple text, no images, and does not offer any advanced features. The next plan up is the Detailed plan, that supports three business plans, and offers a significant 55% discount when paid annually, making it even better value. This plan costs around $20 per month. For a more comprehensive package you can buy the Performance plan costing around $40 per month.

Read our full Enloop business plan software review .

4. LivePlan

LivePlan is business planning software that offers a simple pricing scheme as there is only a single plan to choose from. As they have a 15+ year track record, they offer a clean and simple interface, that can create business plans that look like they were done by an expert consultant, and the software includes a live dashboard that can track day-to-day performance. Those with writer’s block will benefit from the over 500 included sample plans that can be turned to for inspiration.  

Rather than complicate things with too many tiers to choose from, LivePlan only has a single plan which can be paid for monthly or annually.

5. Business Sorter

Business Sorter promises to simplify and speed up business planning and claims to be able to flesh out a plan in an hour or two, via a novel 273 card sort system that covers many common situations.

The ability to reword cards is included, or also to add cards to the already expansive deck, so no worries if there is not a pre-made card for your situation. Unlike some sites that have videos, the educational resources here are provided as PDFs and Word files, which can be quicker to access, but harder to follow for some learners. 

The lowest tier plan, Basic is fully featured, and includes up to three team leaders. 

Read our full Business Sorter review .

Other business plan software to consider

We've only covered some of the most popular business plan software platforms out there, but there are a number of other notables worth mentioning, plus a wide variety of providers of business plan templates. Below we'll briefly cover a range of some of the additional options out there that are worth considering to get your business plan right.

Go Business Plans is more of a consultancy than a software solution, but is worth mentioning for the simple fact that it's one of America's biggest business plan companies. While software might be able to do the job for you, if you're looking for significant funding, it's probably useful to get some professional advice, not least in terms of strategic planning, feasibility studies, and financial projections to ensure you have a solid base for your business plan.

Wise Business Plans provides a very wide range of templates to work from in constructing a business plan. These are particularly designed with funding in mind, no matter what kind of business you run. What is especially helpful is that Wise doesn’t simply deal with business plan templates for a diverse range of business types, the company also provides plan templates for franchises and non-profits.

Plan Writers  is another bespoke service that essentially listens to what you want and then puts the plan together for you. Again, this technically falls outside of business plan "software", but the chances are you'll use a software package as a platform to build from, and Plan Writers can then help you build up from that base.

Bplans is another provider of business plan templates, but goes beyond that with additional pitch and SWOT analysis templates. There are also business plan guides, industry reports, and a free course on writing a business plan. Bplans also publishes a lot of free-to-use articles on business planning, financials, and tax reporting, to help ensure you can keep your figures and projections accurate and compliant.

We've also listed the best free software for small business .

A business plan is essentially your roadmap to profitability from an initial investment. Whether it's your own money, or a loan from a bank, it's still a good idea to set up a business plan for yourself.

Main things to look to are a SWOT analysis to provide an idea of your business idea's strengths and weaknesses, as well as identify a unique selling point (USP) that will give your business an edge.

While business plans inevitably demand the use of figures, and while these can be impossible to be accurate with, at least by making intelligent guesses you can set yourself targets to work towards.

That's another common feature of a plan, so that specific periods you can review your business progress and make adjustments to your plan as required. This allows you to use real figures for your projections, allowing you to better plan ahead.

Which business plan software is best for you?

When deciding which business plan software to use, first consider what your actual needs are, as sometimes free platforms may only provide basic options, so if you need to use advanced tools you may find a paid platform is much more worthwhile. Additionally, free and budget software options can sometimes prove limited when it comes to the variety of tools available, while higher-end software can really cater for every need, so do ensure you have a good idea of which features you think you may require.

How we tested the best business plan software

To test for the best business plan software we first set up an account with the relevant software platform, whether as a download or as an online service. We then tested the service to see how the software could be used for different purposes and in different situations. The aim was to push each business plan software platform to see how useful its basic tools were and also how easy it was to get to grips with any more advanced tools.

Read how we test, rate, and review products on TechRadar .

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Business Plan Software Guide

Every business, no matter the size or industry, needs a business plan. A business plan is a written document that outlines the goals and business objectives of a company, as well as the strategies needed to achieve them. Business plans also include details about the company’s products and services, marketing plans, financial forecasts, and management structure.

Business plan creation can be challenging, but software can help make the process easier. This guide will explain what business plan software is, how it works, how you can use it to start the business planning for your company, and how to choose from the best business plan software options for your needs. 

The Basics of a Business Plan

Before you can understand what business planning software does, it is important to take a look at what goes into a business plan .  Business plans are documents that describe a business, its goals, and plans to achieve those goals. It includes information about your products and services, your target market, your financial projections, expectations for future growth, and your marketing strategy.  Good business plans lay out the groundwork for your business and all you want to achieve and there are many sample business plans available online to help you understand exactly what good (and bad) business plans look like.

If you’re seeking financing for your business, potential investors will want to see a detailed business plan that includes financial projections and information about your business model and potential for profitability. Even if you’re not looking for outside funding, business planning can still be a helpful tool for organizing your thoughts and keeping track of your progress as you start and grow your business. Business plans are crucial for every company, from small businesses to large corporations, and the best business plan software options make the creation process fast and easy.

Business Plan Software Overview

Business plan software is a program or online tool that helps you create a business plan. A business plan builder guides you through the process of creating each component of a good business plan step-by-step and provides templates and tools to make the job faster and easier. Creating a business plan manually takes a lot of your time and can be expensive if you choose to outsource the process. Business planning software can make the planning process much easier by providing step-by-step guidance.  

Why You Need Business Plan Software

The right business planning software can help you create a professional-looking business plan on your own. Having a great business plan can be key to the success of your business and is something that many potential investors will want to see before offering funds. A polished, detailed plan shows investors that you have a clear vision for your company and how you plan to achieve it. Having a great business plan can also help you run your business more effectively and efficiently. Finding a great business plan builder makes the creation process faster, easier, and in many cases, less expensive.

The Best Business Plan Software Features

The business plan software features that are best for you will depend on your individual needs. That being said, there are several features to look for when choosing the best business plan software regardless of your business type, including:

• Financial Forecasting – The best business plan software will include tools to help you accurately forecast your company’s financial performance. This includes sales, expenses,  profitability, and other key financial data.
• Fill-in-the-Blanks – Great business planning software will have templates and tools that make it easy to fill in the blanks and create a professional-looking business plan with minimal effort.
• Starter Text – Just filling the in blanks is great, but sometimes you need a bit of clarity or inspiration on what to write. Business plan software that starts you off with example text can be very helpful in figuring out what you need to write for your own business.
• Design Options – While a well-written business plan is essential, it’s also important that your document looks good. Look for business plan software with design options that let you choose an aesthetic that works well for your industry and/or individual business.
• Customer Support – If you encounter a problem with your business plan software, it’s important to have access to customer support. The best business plan software will offer expert customer service and an online support center where you can find answers to common questions.

Business Plan Software Costs

The cost of business plan software tools can range from free to several hundred dollars. The price you pay for business planning software tools will depend on the features you need and the level of customization you’re looking for.

An important factor to remember is that a free business planning tool generally does not come with many of the features that make business plan software great in the first place. Features like financial forecasting are crucial for great business plans but are often not included in free business plan software solutions.

Choosing the Right Business Plan Software

Now that you know what to look for in business plan software solutions and roughly how much you will spend, it’s time to choose the right program for your needs. There are several business plan software options out there, but not all of them have financial planning or other key features you might need. When choosing between business plan software tools, consider the following:

• Your Budget – Remember that free software is limited in features. Choose a program that fits within your budget, but still offers the features you need.
• Your Needs – Whether you are a first-time business planner or an experienced pro, it is important to find the best business plan software that meets your needs and makes the job easier. Look for software with important features like financial forecasting, starter text, and great customer support.
• Your Business Type – Some business plan software is geared towards specific types of businesses and includes sections or locked-in design options that you do not need. Make sure the software you choose has design options that can accommodate your needs.

What Makes PlanBuildr Different

PlanBuildr is the fastest and easiest business plan tool, and it offers all the features you need to create a professional business plan. Not only does PlanBuildr have fill-in-the-blank simplicity, but it also comes with built-in financial forecasting and support from an expert customer service team. Standout features include:

• Simple Fill-in-the-Blank Exercises – PlanBuildr’s simple fill-in-the-blank exercises make it easy to create a professional business plan with minimal effort.
• Automatic Financial Calculations – Financial forecasting tools calculate your financial projections for you. PlanBuildr will automatically calculate key financial data, including financial statements, and makes adding charts and graphs simple.
• Multiple Design Options – PlanBuildr offers a variety of design options to choose from, so you can create a professional business plan that looks great and fits your specific industry.
• Instant Availability – Once you’re done with the business plan creation process, you can download or print your document immediately.
• Expert Customer Service – The expert customer service team at PlanBuildr is available to answer any questions and you have access to a helpful online support center to find solutions to the most common issues.

If you’re looking for business plan software that is easy to use, comes with great features, and won’t break the bank, PlanBuildr is the right business plan software solution for you. You can even get started for free and explore all that PlanBuildr has to offer.

• Business Planning
• Venture Funding

9 Best Business Plan Software in 2024

Business plan is a document outlining business goals, financial projections, and strategies. It clarifies organizational vision, strategy, and finances while increasing the chances of securing funding and attracting investors. A well-written business plan works as an investor’s roadmap, showcasing a researched market opportunity, a sound strategy, and the true potential for financial return.

While developing a business plan using the traditional method is time-consuming and overwhelming, business planner software can assist entrepreneurs in creating a professional plan. These provide the necessary structure and guidance to create business plans efficiently.

Geekflare reviewed dozens of business planning tools and picked the best business plan software applications based on their features, ease of use, and pricing.

• Cuttles – Best for Interactive Business Planning and Pitching
• IdeaBuddy – Best for Comprehensive Planning with Financial Projections
• LivePlan – Best for Innovative Idea Development
• Bizplan – Best for Modern and Visual Planning
• Upmetrics – Best for Data-Driven Planning
• PlanGuru – Best for Advanced Financial Analysis
• Enloop – Best for Automated Financial Forecasting
• PlanBuildr – Best for Quick and Simple Business Plans
• The Business Plan Shop – Best for User-Friendly Interface
• Show more Show less

You can trust Geekflare

Imagine the satisfaction of finding just what you needed. We understand that feeling, too, so we go to great lengths to evaluate freemium, subscribe to the premium plan if required, have a cup of coffee, and test the products to provide unbiased reviews! While we may earn affiliate commissions, our primary focus remains steadfast: delivering unbiased editorial insights, and in-depth reviews. See how we test .

Best for Interactive Business Planning and Pitching

• Financial Reporting Comprehensive
• Integration Yes
• Ease of Use Beginner-Friendly

About Cuttles

Cuttles is fully interactive business plan software that helps entrepreneurs develop business plans and understand their businesses. It is a web app that asks questions and creates a plan based on the answers given by the company, with a layout according to the brand.

Cuttles offers fully customizable business plan templates that organizations can modify according to their industrial needs. It has a beautiful editor that anyone can use with flexibility. It is available in English, French, Spanish, German, and Portuguese.

After creating a solid business plan, users can easily share its link with other team members or investors. It also supports exporting the plan in PDF format.

Cuttles Pros and Cons

250+ guides, examples, and widgets for assistance

7-day free trial on any plan

Dashboard to track financial health

No free plan is available

Does not offer any mobile app

Best for Comprehensive Planning with Financial Projections

• Financial Reporting Advanced
• Integration No

About IdeaBuddy

IdeaBuddy turns innovative business ideas into professional business plans for successful ventures. This free business planning software allows you to enter data in the sections in the Business Guide and automatically generate an investor-ready business plan.

IdeaBuddy has pre-built templates that companies can customize using an unlimited-edit-ability built-in editor. The business plan can be exported in Word, Excel, and PDF format or shared using a link. Organizations can use it to collaborate with teammates and stakeholders in real-time.

IdeaBuddy has a financial plan feature that companies use to get financial forecasts, which is an important component of a business plan. However, businesses can utilize sales pipeline software to generate data on financial projections.

IdeaBuddy Pros and Cons

Free plan available for one idea

15-day free trial

Mobile-friendly platform

Does not have any dedicated mobile app

Whiteboard is only available for Free and Team Pro plan users

Best for Innovative Idea Development

• Ease of Use Intermediate

About LivePlan

LivePlan allows users to create their business plans for all major industries with its collection of 500+ templates. LivePlan forecast feature lets companies skip the manual calculation and provide the data input based on which it will generate charts, figures, graphs, and other documents for the business plan.

After creating the business plan, companies can export it in Word or PDF formats. LivePlan supports real-time financial data tracking and Xero and QuickBooks integration. It also offers milestone scheduling and sales and budget tracking. It lets users create a one-page pitch in 30 minutes.

LivePlan Pros and Cons

AI-powered LivePlan Assistant for improved writing version

Performance dashboard with 20+ trend reports

Compare KPIs with industry benchmark data

Does not offer any free trial

Standard plan users do not get integration support

Best for Modern and Visual Planning

About Bizplan

Bizplan is ideal business plan software for startups looking for investors or funding. With this modern and intuitive business plan builder, entrepreneurs can create a business plan exactly as they want.

Bizplan also offers educational resources to help companies easily use this drag-and-drop tool for building templates. Its Financial Command Center comes with various financial tools. Companies can use this business plan software platform to create team salary forecasts, revenue projections, and balance sheets.

While users can add collaborators and stakeholders here, they can control who can view sensitive data and comment on them. Companies can share their business plan using the online link.

Bizplan Pros and Cons

Direct access to a community of 20,000 startup founders

1200+ detailed guides

Free technical support

No free trial available

No mobile apps

Best for Data-Driven Planning

About Upmetrics

Upmetrics offers an AI-powered business plan generator that can write a complete or partial business plan, re-format sections, make improvements, and adjust content tone. It allows real-time feedback and collaboration with an easily navigable comment section.

Upmetrics offers a drag-and-drop interface so that companies can create plan outlines according to their preferences. Once the plan is generated, users can save the file in DOC or PDF formats or share it online with the stakeholders.

Upmetrics users also choose creative cover pages to make their business plans stand out. It also has a financial forecasting feature that suggests expense types, revenue streams, sale costs, and expenses. It generates reports on cash flow, profit breakdown, retained earnings, etc.

Upmetrics Pros and Cons

400+ templates for almost all industries

Business plan checklist to track progress

15-day money-back guarantee

Does not have any mobile app

Best for Advanced Financial Analysis

• Ease of Use Advanced

About PlanGuru

PlanGuru is the right business planning software for companies focused on the financial aspect of the company. Businesses can utilize its budgeting, and reporting, and financial forecasting tools to include in the business plan.

PlanGuru is a web app that is also available on Windows-based apps. Using its 20+ standard forecasting methods, companies can generate forecasts for up to 10 years.

PlanGuru supports integration with QuickBooks, Xero, and Microsoft Excel for data import. The generated reports can be exported in Word, Excel, and PDF formats.

PlanGuru Pros and Cons

30-day money-back guarantee

14-day free trial

US-based technical support

Does not offer business plan templates

No desktop app for Mac

Best for Automated Financial Forecasting

About Enloop

Enloop facilitates quick business plan creation by generating automated text that users can easily edit. It automatically syncs the company’s financial data with the business and updates it whenever that data changes.

Enloop users can develop business plans using customizable text, tables, charts, images, and 100+ currency symbols and formats. They can invite their colleagues to edit the plan and other partners to view it.

Enloop automatically generates bank-ready financial forecast reports and 16 critical financial ratios for forecasted performance analysis. This tool allows users to utilize real-time performance scores in their business plans.

Enloop Pros and Cons

7-day free trial

Pass/fail report for understanding critical issues

Colored chart for data visualization

Free subscription plan is unavailable

Costlier than many of its competitors

Best for Quick and Simple Business Plans

About PlanBuildr

PlanBuildr is a user-friendly solution that prompts businesses to fill in the blanks to generate a business plan. Users have 10 templates of various industries to choose from to build a business plan for their company.

PlanBuildr automatically makes financial projections for 5 years, including income statements, balance sheets, cash flow statements, charts, and graphs to be included in the business plan. It supports direct printing of the plan and downloading to share with others.

PlanBuildr also supports adding teammates and creating an executive summary. The content and format generated by PlanBuildr are highly tailored to raise money faster from investors.

PlanBuildr Pros and Cons

Limited free trial

Expert customer support team and online support center

Business plan samples for various industries

Only 10 designs to choose from

Unavailability of free plan

The Business Plan Shop

Best for User-Friendly Interface

About The Business Plan Shop

The Business Plan Shop is a solution that offers a wide collection of templates for business plan creation. After signing up for this user-friendly software, users get instructions and examples for each section of the business plan.

The Business Plan Shop generates forecasts for three to five years, and measures progress toward goals using KPIs. Companies can use business consulting software while working on goals. It also supports side-by-side scenario comparisons between actual and forecast.

The Business Plan Shop integrates with Xero and QuickBooks to import accounting data for forecasting purposes. After creating the plan, users can easily export it in MS Word or PDF formats.

The Business Plan Shop Pros and Cons

7-day free trial is available

Built-in document editor for quick formatting

SSL for data security

Does not work offline

Free trial does not include access to templates

Business Plan Software Comparison

What Is a Business Plan?

A business plan is a document that explains a business’s objectives and how it aims to achieve them. It is an essential written document that companies need for internal (organizational decision-making) and external (securing funding from investors or partners) audiences. It focuses on key elements to demonstrate the business’s viability.

A standard business plan should consist of 15 to 20 pages. If it includes lengthy components, it is better to add them to the appendix and refer to them in the main plan.

How to Create a Business Plan

Creating a business plan involves steps like creating an executive summary, performing market research, developing business strategies, discussing business products, and making financial projections. To develop a business plan for an organization, go through the steps below.

#1. Write an Executive Summary

Consider it as the elevator pitch and include the summary of the whole business plan, including the mission statement. It is better to write it in the end.

#2. Define the Business

In this section, mention the basic info about the company, such as its registered name, location, key people, and their expertise. Also, include business structure, company history, and ownership percentage.

#3. Mention Business Objectives

The business plan should include an objective statement – what the company wants to achieve in the long run. While developing a plan for investment or loan, emphasize this section and make it elaborate.

#4. Discuss Products and Services of the Business

Here, describe in detail the product or service the business will offer. Also, include the pricing model, target audience, and sales and distribution strategy.

#5. Market Research

In this segment, discuss the competitors. Include the reason behind their success and how the organization has the potential to outperform them.

#6. Develop Business Strategy

Mention how the organization is planning to persuade customers to avail of the services and retain customer loyalty. Include detailed plans of marketing, management, and operational strategies.

#7. Financial Analysis

While startups may not have enough information on business financials, existing businesses should include a balance sheet, profit-and-loss statements, and a cash flow statement.

#8. Make Financial Projections

This is a critical section for financing or investors. Here, outline how the company is planning to generate profit to repay the loan or offer a generous return to the investors. 

#9. Additional Information

Any supporting information that the company wants to include in the business plan should go in the appendix.

Benefits of Business Plan Software

Business plan software has a robust toolkit that allows businesses to create investor-ready documents from the concept. It offers step-by-step guidance for business plan creation and pre-formatted templates for a professional structure. 

Business planning tools, when integrated with BPM software , accounting software, and market research software, can automatically collect relevant data for the business plan. It even has built-in tools to generate financial projections with complex calculations and graphs.

With these features, business planning software solutions empower companies to create compelling and error-free plans. Thus, they effectively communicate the organizational vision to investors.

How to Choose the Right Business Plan Software

Creating solid and convincing business plan tools is crucial, so companies must choose the right software to make the process smoother. Although there are many options, following these points will help them select the most suitable business plan software solution. 

Assessing Business Needs

Companies should start by identifying what the business plan requires. Does the company need in-depth financial forecasting, or does it need to focus on market research? Match it with the software’s features to choose the most useful software. 

Considering Team’s Expertise

Always take the technological expertise of the team into consideration. If the team has limited tech experience, go for user-friendly software with clear instructions and a flat learning curve.

Budgeting for Business Plan Software

Determine the organizational budget for the business plan apps and choose the tool with an affordable plan. To that end, compare the pricing models of the shortlisted applications.

Reading Reviews and Getting Recommendations

Read online user reviews and seek recommendations from other entrepreneurs or business advisors. This will provide valuable insights into the software’s effectiveness and user experience.

Regardless of the estimated business size, a properly written business plan is vital for future growth and success. Companies should choose the right tool to ensure that they send a clear and focused message to investors. It guides them through essential elements and helps them avoid critical oversights.

With sophisticated business plan software providers, users can effortlessly write a business plan. The above list will help them choose the right solution for business.

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Some of our fans:

“ LivePlan earns the top spot on our list of best business plan software —and for good reason. LivePlan’s slick and interactive service provides a step-by-step business plan approach, a rich collection of cloud-based features, and online learning tools.”

Brooke Hayes

Software Reviewer at Business.org

Here’s how LivePlan makes it surprisingly simple to write a convincing business plan

You get a step-by-step process to follow

LivePlan asks you questions about your business, you plug in the answers. It’s as easy as that. You’ll get straight-forward instructions with examples on:

• Writing a pitch that grabs investors’ attention
• What to include in your marketing plan
• Every other essential piece of your business plan

“ LivePlan is incredibly simple and easy to use. The financial sales forecasting tool is very intuitive and makes writing a business plan more fun.”

Helga Douglas

Owner, Svala

All the financials are calculated for you

LivePlan tells you exactly what financial information you need to enter and then does all the calculations automatically using built-in formulas. So you end up with razor-accurate financial statements that include all the tables that a lender or investor expects to see.

“I have such a better clarity of thought because I can see the impact of marketing by using LivePlan versus just using a spreadsheet.”

Marc-Andre Seguin

JazzGuitarLessons.net

If you ever get stuck, we’ll help you out

Most LivePlan users are able to breeze through their first business plan. But if you ever have a question, there are 3 ways to get advice:

• Call a LivePlan expert at 1-888-498-6136.
• Chat with our advocacy team. Try it now.
• Browse 500+ sample plans & tutorial videos.

“It’s our road map, continually helping us stay on track. We wrote a business plan we can take to any investor , and it’s game on.”

Stacie Overman

Lavender Kisses Farm

LivePlan has helped over 1 million business owners build better businesses

It’s proven, companies that plan and track against their plan grow 30% faster than those that don’t. No matter your industry, location, or size — LivePlan helps you get your business off the ground and grow

“Trying to open a new business is very time-consuming, and since I was running another business while I was trying to set up Tailored, I didn’t have a lot of time.”

Owner & Founder, Tailored Coffee

“It wasn’t my intention to be an entrepreneur or a business person. My intention was to work with dogs. I kind of had to learn the rest of it in order to do what I wanted to do.”

Joanna Stanford

Founder, Trots Dogs

“That’s what it does for your business; [using LivePlan] has got us all talking and much more engaged about what we are and what we’re trying to do.”

Owner & Founder, Web Ninja

“Before LivePlan, I was making decisions that were poorly informed. Now I test everything through my business first, before I take it to my clients.”

Enae Jackson-Atkins

Owner & Founder, Esquire Accounting

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Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.

Table of Contents

How to Write a Business Plan

Executive summary.

It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.

Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.

Overview and Business Objectives

Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:

Company Description

Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.

Define Your Target Market

Market analysis.

The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.

Competitive Analysis

Organization and management team.

Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.

Products and Services Offered

This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.

Marketing and Sales Strategy

Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.

Logistics and Operations Plan

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.

Financial Projections Plan

This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.

Income Statement

Cash flow statement.

A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.

Tips on Writing a Business Plan

4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

What is a Business Plan?

Why you should write a business plan.

Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:

What are the Different Types of Business Plans?

Using Business Plan Software

Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.

Business Plan FAQs

What is a good business plan.

A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.

What are the 3 main purposes of a business plan?

Can i write a business plan by myself, is it possible to create a one-page business plan.

Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.

How long should a business plan be?

What is a business plan outline, what are the 5 most common business plan mistakes, what questions should be asked in a business plan.

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

How is business planning for a nonprofit different.

Free Business Plan Generator

Do you still spend hours writing and creating a business plan? Not after today. Upmetrics’ free business plan generator simplifies writing a business plan and helps you create a comprehensive and compelling lean plan in seconds.

Sounds exciting? Let’s learn more about getting started with our free business plan generator and using it to draft your plan.

Using Upmetrics’ Free Business Plan Generator

Need help using the free business plan generator? Follow these step-by-step instructions to create a business plan using the free generator in no time.

Creating a business plan requires filling in 4 critical fields—company overview, marketing details, competitor information, and financial overview. Let’s start with the first.

1. Enter the Company Overview

Provide a company overview in approximately 3-4 sentences, including your business’s name, service offerings, USPs, mission, goals, and target market. Here’s an example for you:

2. Add Marketing Details

The next step—provide marketing details. Start by answering how your business plans to attract new customers and what you want to achieve with your business.

You may also include details about your marketing budget and preferred marketing channels. Here’s an example for your reference:

“i.e. We will attract customers through a strong online presence, social media marketing, and in-store promotions. Offering loyalty programs and hosting community biking events will help build a loyal customer base.”

3. Enter Competitor Information

After adding the marketing details, provide the name of your primary competitor(s) and explain how you are distinct from your competitors.

Describe whether your offerings have any competitive advantages or differentiators. Here’s how it can be done:

“i.e. Our primary competitor is ‘Wheels & Gears,’ but what sets us apart is our personalized customer service and expert bike repair services. We also differentiate ourselves by focusing on eco-friendly and sustainable products.”

4. Provide Financial Overview

Finally,—provide an overview of your business financials. Include what your startup costs are, what your financial strategy would be, and your first-year sales.

We are creating a lean business plan, so it may not require a detailed description of your business financials. Here’s an example for your understanding:

“i.e. Our expected business costs are $87,000 and that includes rent, inventory, equipment, and staff salaries. Our financial strategy is to minimize overhead costs and optimize inventory turnover. We project annual sales to reach $500,000 in the first year.”

5. Click on Generate a Business Plan

You’ve filled in all the necessary fields. It’s time to click “Generate a Business Plan” and see it yourself.

Your lean business plan is ready; you may make a few changes and go ahead with it or choose an AI business plan generator for comprehensive planning.

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Business Plan Example that will Inspire You

We created this sample CycleWave business plan using Upmetrics’ free generator. Remember, it’s your first draft—you can always go back and re-generate or edit it later.

CycleWave Business Plan

Introduction

Welcome to the business plan for CycleWave, a bicycle retail and repair shop dedicated to providing high-quality bikes and expert maintenance services. Our mission is to promote a healthier and more sustainable lifestyle through cycling while offering exceptional customer service.

Market Overview

The cycling industry is experiencing significant growth, driven by increasing interest in health, sustainability, and alternative transportation methods.

The target market includes cycling enthusiasts, commuters, and local community members.

Strong market potential due to growing awareness of the need for eco-friendly and sustainable products.

Competitive Analysis

Primary competitor: Wheels & Gears.

Differentiation factors

• Personalized customer service
• Expertise in bike repair services
• Focus on eco-friendly and sustainable products.

Highlight the advantages of our unique offerings to attract customers away from competitors.

Marketing Plan

Utilize a solid online presence through a professional website to showcase our products, services, and promotions. Implement social media marketing strategies to engage with customers and build brand awareness.

Host community biking events to foster a sense of belonging and attract potential customers. Offer loyalty programs to incentivize repeat business and build a loyal customer base.

Operational Plan

Secure a suitable retail location with ample space for displaying bicycles and providing repair services. Employ knowledgeable staff with expertise in bike repair and customer service.

Create efficient processes for inventory management and maintenance repairs to ensure fast turnaround times. Maintain an attractive and organized store layout to enhance the customer experience.

Financial Plan

Our expected business costs are $87,000, allocated as follows:

• Rent: $30,000
• Inventory: $40,000
• Equipment: $10,000
• Staff Salaries: $7,000

We project annual sales to reach $500,000 in the first year, allowing us to gradually cover expenses and increase profitability.

Conclusion and Call to Action

In conclusion, CycleWave aims to thrive in the bicycle retail and repair industry by offering high-quality bikes, expert maintenance services, personalized customer care, and eco-friendly products. Join us in promoting a healthier and more sustainable lifestyle through cycling.

If you want to support our mission and become part of our cycling community, please contact us or visit our store today!

Upgrade to Make Comprehensive Plans in Minutes

Upmetrics’ free business plan generator is undoubtedly a better way to business plan. However, you may need an upgrade to create a comprehensive, investment-ready plan.

AI business plan generator like Upmetrics make business plan creation a breeze with their modern AI-powered features.

AI writing assistant helps you write, rewrite, edit, or translate sections of your plan, while the forecasting assistant provides revenue and expense stream suggestions for accurate projections.

You also get to access the massive library of 400+ sample business plans . So, all you need to do is export a template into the editor and start preparing your plan with AI .

What are you waiting for? Business planning starts @ $7 per month.

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Frequently Asked Questions

What is a free business plan generator.

The free business plan generator is a free-to-use version of Upmetrics’ business plan software. It uses AI-powered features to help users create a business plan. Since it can only create a lean business plan, you need Upmetrics’ advanced features for detailed planning.

Is it really free to use?

Yes, Upmetrics’ free business plan generator is 100% free to use, but the features that come with it are also limited. So, you may consider getting a premium subscription for advanced business planning features.

What information will I need to provide to use the tool?

You must fill in the necessary details to create a business plan using the free generator. The information required may include a company overview, marketing details, competitor information, and a financial overview.

What type of businesses should use your free business plan tool?

Startups and small businesses starting up or operating on tight budgets should consider getting a free business planning tool to create a lean business plan.

Is there a limit to how many plans I can create with your software?

No. As of now, there’s no limit to the number of business plans you can create using Upmetrics’ free business plan generator.

Is a sample plan as useful as creating my own custom version?

Using a sample business plan or template is one of the easiest ways to create your business plan. All you need to do is export a template into the editor and start preparing your plan with AI.

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How To Create A Successful Marketing Plan

Published: Aug 13, 2024, 7:15am

Table of Contents

What is a marketing plan, marketing plan vs. marketing strategy, why businesses need a marketing plan, essential marketing channels, how to create a marketing plan, bottom line, frequently asked questions (faqs).

The difference between a flourishing business and a floundering business often comes down to an effective marketing campaign. This is especially true for small businesses. Every successful marketing campaign starts with a well-thought-out marketing plan. In this article, we will guide you through the steps on how to create a top-notch marketing plan to help put your business on the road to success.

A marketing plan is essentially a roadmap that guides businesses through the complex terrain of promoting their products or services. Think of it as a blueprint that details specific marketing campaigns, timelines, target audiences and channels such as social media , email or traditional media. Your plan should also establish clear metrics for success, the methodology used to evaluate performance and allocated budgets.

It is important to note that a marketing plan is not a static document. It is supposed to be an ever-evolving plan that adapts to market trends, customer feedback and the successful or unsuccessful marketing efforts. If done properly, a marketing plan will help you synchronize your marketing objectives with your overall business goals and ensure every marketing activity aligns with your broader vision of growth.

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Some assume that “marketing plan” and “marketing strategy” are the same thing, but be aware they hold distinct meanings and serve different purposes. A marketing strategy is more big-picture thinking. It identifies your target market, your value proposition, how you position yourself against competitors and how you will sustain your value over time. It involves deep insights into your customers’ needs, market trends and competitive analysis. It is essentially the “why” behind all your marketing actions.

The marketing plan, on the other hand, details the “what” and the “when” of those efforts. Once you have your marketing strategy outlined, you can begin to create a marketing plan. The plan should outline the specific campaigns, activities and tactics you’ll use to carry out the strategy. This includes details on the marketing channels you’ll use, the timeline for implementation, the budget and the key performance indicators you’ll track to measure success. It’s a blueprint that translates the strategy into actionable tasks and schedules.

A carefully crafted marketing plan can be a game-changer for small businesses dreaming of steady growth and a competitive edge over larger companies. Marketing plans with smart strategies and targeted campaigns can level the playing field by helping small businesses carve out their niche. It provides a clear roadmap that aligns marketing efforts with business objectives to ensure every marketing action contributes to the broader company goals.

This focused approach saves small businesses money by efficiently focusing resources instead of using a scattergun approach that can drain limited budgets. By identifying and understanding target markets, businesses can tailor their messaging to meet specific needs, which increases the likelihood of conversion. A solid marketing plan offers a framework for measuring success by setting benchmarks. With careful tracking, small businesses can quickly see what’s not working and adjust strategies in real time for better outcomes.

Today’s businesses have a wide array of marketing channels available to them. From highly analytical PPC advertising to engaging in-person event marketing, there’s no shortage of methods to promote your company.

Social Media

During the past two decades, social media has proved to be a highly effective way for small businesses to market themselves at little to no costs. Platforms including TikTok, Facebook, Instagram, X and LinkedIn offer businesses a dynamic platform to engage directly with their audience. They allow for the sharing of content, running targeted ads and fostering community through comments and shares. Effective social media marketing can enhance brand awareness, drive traffic and strengthen customer loyalty.

Email Marketing

Email marketing is another highly effective way to reach an audience directly. Newsletters, promotional offers and personalized content can nurture leads, promote loyalty and drive conversions. Email marketing offers measurable results and high ROI, making it a staple in a digital marketing strategy toolbox.

• Content Marketing

Content marketing involves creating hyper-relevant and compelling content that will act as a magnet to attract a laser-focused group of people. You can create blogs, videos, infographics and podcasts to cultivate an engaged community of followers with whom your brand’s message genuinely resonates.

Search Engine Optimization (SEO)

SEO is the practice of optimizing website content to rank higher in search engine results pages. Effective SEO strategies including on-page optimization, quality link building and keyword research help drive traffic to your website.

Pay-Per-Click (PPC) Advertising

PPC advertising is a method of online marketing where you pay a fee each time someone clicks on your ad. Popular platforms such as Google Ads and Bing Ads guarantee your ads show up first in search engine results for specific keywords, allowing you to bypass the “organic” results. While the pay-per-click fees can add up, this form of advertising provides immediate traffic and measurable results.

Influencer Marketing

Influencer marketing leverages the reach of influencers in specific niches to help you promote your business to a larger audience. When you partner with a credible influencer, you can tap into their loyal followings, gain trust quickly and drive engagement that will hopefully lead to greater sales. Affiliate marketing can complement influencer marketing by allowing influencers to earn commissions on the sales they drive. This performance-based option is cost effective, as you will only pay for actual results.

Event Marketing

Event marketing involves marketing your brand, company or service through in-person or virtual events. It can be anything from interactive webinars and educational workshops to large-scale conferences and industry trade shows. Event marketing gives you the opportunity to directly engage with your audience and hopefully provide a memorable experience for your customers.

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Creating a marketing plan is a step-by-step process. Make sure you take your time with each step before moving on to the next one.

1. Create an Executive Summary

An executive summary is a snapshot of your simplified marketing goals, significant milestones and an outline of future plans. It should encapsulate relevant facts about your brand, setting the stage for the detailed strategy that follows. This section provides stakeholders with a clear understanding of where the company stands and where it intends to go, concisely summarizing the essence of the marketing efforts.

2. Identify Your Target Market

Who are you trying to reach? By identifying your target market you can tailor your marketing strategies effectively to help them reach the people most likely to be interested in your products or services. Outline the characteristics of your ideal customer including age, location, goals, pains and trigger points.

3. Research Your Competitors

Competitor research is a critical step in forming a marketing plan. Analyze the strengths and weaknesses in other businesses in your industry. This insight can help you identify opportunities for differentiation and areas where you can fill in the opportunity your competitors may have overlooked.

4. Determine Your Marketing Goals

Without clear marketing goals, you are just shooting barrels in the dark. Are you trying to increase brand awareness, boast sales or grow your digital footprint? And if so, by how much and in what timeframe? Use the SMART criteria for goal setting, which advises that goals should be specific, measurable, achievable, relevant and time-bound.

5. Establish and Track Benchmarks

Once you determine what your marketing goals are, it is important to track their effectiveness.

To do this, set baseline measurements for key performance indicators related to your goals, such as website traffic, conversion rates or social media engagement. Monitor these benchmarks on a regular basis and adjust strategies as needed to enhance marketing performance.

6. Identify Your Marketing Channels

Are you going to throw all your eggs in the social media basket? Or are you going to diversify your marketing strategy with both digital and in-person events? This step requires a deep dive into the various channels available—be it social media, email marketing, SEO or traditional advertising. When choosing your marketing channels, be sure to ask yourself where your target audience is most engaged.

7. Create a Budget

Finally, create a budget that covers all aspects of your marketing efforts from paid advertising and content creation to software subscriptions and event sponsorships. This will help you stay financially responsible as more marketing opportunities arise.

One of the keys to a successful business is setting yourself apart from the competition. A strategic marketing plan that details your marketing efforts can not only help you stand out but also provide a step-by-step guide toward reaching your business objectives.

What are the main elements of a marketing plan?

The main elements of a marketing plan typically include an executive summary, marketing objectives, target audience definition, marketing strategies, budget and metrics for performance evaluation. It outlines the company’s strategy for attracting and retaining customers by detailing specific actions to achieve campaign goals, timeline with key milestones, channels to be used and team members responsibilities.

What is a realistic marketing budget?

A realistic marketing budget is typically determined as a percentage of a company’s revenue. It is recommended that B2B companies spend 2% to 5% of their revenue on marketing. Because B2C companies typically have a broader range of marketing channels, it is recommended they spend between 5% and 10% of their revenue on marketing.

What should every marketing plan start with?

Every marketing plan should start with a clear mission statement for the marketing department that aligns with the overall mission of the business. This statement should be specific enough to guide marketing efforts but also allow room to adjust the plan as needed. For example, if your company’s mission is “to revolutionize home cooking,” the marketing mission might be “to inspire home cooks and provide them with innovative cooking solutions.”

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Jennifer Simonson draws on two decades as a journalist covering everything from local economic developement to small business marketing. Beyond writing, she tested entrepreneurial waters by launching a mobile massage service, a content marketing firm and an e-commerce venture. These experiences enriched her understanding of small business management and marketing strategies. Today, she channels this first-hand knowledge into her articles for Forbes Advisor.

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The Importance of Having a Process Improvement Plan for Your Business

August 9th, 2024

A process improvement plan is a strategic roadmap designed to enhance organizational efficiency, reduce waste, and boost overall performance.

It’s a systematic approach that combines data-driven analysis with proven methodologies to identify, implement, and sustain meaningful changes in business processes.

Key Highlights

• Understanding process improvement plan fundamentals
• Step-by-step guide to creating effective plans
• Exploring key methodologies: Lean, Six Sigma , PDCA
• Implementing and managing improvement initiatives
• Best practices for sustainable process enhancement
• Driving operational excellence through continuous improvement

Understanding Process Improvement Plan

Process improvement plan is the backbone of any successful business optimization strategy.

It’s a structured approach to identifying, analyzing, and enhancing existing business processes to meet new goals and objectives.

The importance of such a plan cannot be overstated – it’s the roadmap that guides organizations towards operational excellence and competitive advantage.

Key Components of a Process Improvement Plan

A robust process improvement plan consists of several critical components:

• Clear objectives: Define what you want to achieve with your improvement efforts.
• Process mapping: A detailed visualization of current workflows .
• Data collection and analysis: Gathering and interpreting relevant metrics.
• Root cause analysis: Identifying the underlying issues , not just symptoms.
• Improvement strategies: Developing targeted solutions to address identified problems.
• Implementation plan: A timeline and resource allocation for executing improvements.
• Monitoring and control measures: Systems to track progress and maintain improvements.

Benefits of Business Process Optimization

The benefits of implementing a process improvement plan are far-reaching.

• Increased efficiency and productivity
• Cost reduction through waste elimination
• Enhanced product or service quality
• Improved customer satisfaction
• Better employee morale and engagement
• Increased agility and adaptability to market changes
• Compliance with industry standards and regulations

Steps to Create an Effective Process Improvement Plan

The first step in any process improvement initiative is to gain a clear understanding of your current processes.

Mapping Current Processes and Workflow Analysis

This involves creating detailed process maps or flowcharts .

This technique helps identify value-added and non-value-added activities, providing a foundation for improvement efforts.

Identifying Bottlenecks and Areas for Improvement

Once you have a clear picture of your processes, the next step is to identify bottlenecks and inefficiencies.

This is where data becomes crucial. Using statistical tools and methodologies like Six Sigma , we can pinpoint areas that are under performing or causing delays.

Look for excessive wait times, redundant steps, or processes with high error rates.

Setting Performance Metrics and KPIs for a Process Improvement Plan

To drive improvement, you need to know what success looks like.

This means establishing clear, measurable performance metrics and Key Performance Indicators (KPIs).

The key is to choose metrics that align with your overall business objectives.

Developing Solutions and Process Redesign Strategies

With problems identified and goals set, it’s time to develop solutions.

This is where creativity meets data-driven decision making . Techniques like brainstorming sessions, cause-and-effect diagrams , and design of experiments can help generate and evaluate potential solutions.

The goal is to redesign processes to eliminate waste, reduce variability, and increase value.

Creating an Implementation Timeline for a Process Improvement Plan

The final step in planning is to create a realistic timeline for implementation.

This should include milestones, resource allocation, and contingency plans.

Remember, process improvement is often an iterative process. Be prepared to adjust your timeline as you learn and encounter unexpected challenges.

Methodologies for Process Improvement

Under methodologies we get to see various methods for process improvements including:

Lean Principles and Waste Reduction

Lean methodology , which I’ve successfully implemented in manufacturing and service industries alike, focuses on maximizing customer value while minimizing waste.

The core principle is to create more value for customers with fewer resources. Key concepts include:

• Identifying value from the customer’s perspective
• Mapping the value stream
• Creating flow by eliminating interruptions
• Establishing pull systems
• Continuously seeking perfection

Six Sigma Methodology within the Process Improvement Plan

Six Sigma, a methodology I’ve been passionate about throughout my career, is a data-driven approach to eliminating defects and reducing variability in processes.

It follows the DMAIC framework :

• Define the problem and project goals
• Measure current process performance
• Analyze to determine root causes of problems
• Improve the process by implementing solutions
• Control to sustain the improvements

Six Sigma’s statistical rigor makes it particularly effective for complex problems where the root cause isn’t immediately apparent.

PDCA Cycle for Continuous Improvement

The Plan-Do-Check-Act (PDCA) cycle, also known as the Deming Cycle , is a four-step model for carrying out change.

It’s a simple yet powerful tool for continuous improvement:

• Plan: Identify and analyze the problem
• Do: Develop and implement a solution
• Check: Evaluate the results
• Act: Standardize the solution if successful, or begin the cycle again

I’ve found PDCA particularly useful for quick improvements and for fostering a culture of continuous improvement across all levels of an organization.

Implementing Your Process Improvement Plan

Change management strategies.

Implementing process improvements often requires significant organizational change.

Effective change management strategies include:

• Clear communication of the reasons for change
• Involvement of stakeholders at all levels
• Addressing resistance proactively
• Providing necessary resources and support
• Celebrating early wins to build momentum

Employee Engagement and Training for Process Improvement Plan

Engaged employees are crucial for successful process improvement .

Training is a key component of this.

This not only built necessary skills but also fostered buy-in and enthusiasm for the improvement initiatives.

Standardized Work Procedures

Standardization is crucial for sustaining improvements.

This involves documenting best practices, creating clear work instructions, and ensuring consistency across operations.

Monitoring Progress and Measuring ROI of your Process Improvement Plan

Continuous monitoring is essential to ensure that improvements are sustained and to quantify the Return on Investment (ROI) of your efforts.

Use the KPIs established earlier to track progress. Regular reviews and audits can help identify any slippage back to old practices.

Remember, the goal is not just short-term gains, but long-term, sustainable improvement.

Best Practices for Successful Process Improvement

Some of the best techniques and practice for a succesful process improvement in your organization.

Fostering a Culture of Continuous Improvement

A culture of continuous improvement is the bedrock of sustained success.

This means encouraging all employees to look for ways to improve their work processes constantly.

• Leadership commitment and visible support
• Empowering employees to make improvements
• Recognizing and rewarding improvement efforts
• Making continuous improvement part of performance evaluations

Data-driven decision making for Process Improvement Plan

There’s no excuse for gut-feel decision making. Use statistical tools to analyze data and drive decisions .

This could involve simple trend analysis or more advanced techniques like Design of Experiments .

Stakeholder feedback and communication

Regular communication with all stakeholders – employees, customers, suppliers – is crucial.

Their feedback can provide valuable insights into areas for improvement that might not be apparent from internal data alone. Establish formal feedback mechanisms and act on the input received.

Regular process documentation and updates

As processes evolve, it’s important to keep documentation up-to-date. This ensures that improvements are sustained and that best practices are shared across the organization.

Driving Operational Excellence Through Process Improvement

From understanding the fundamentals and methodologies to implementation strategies and best practices, the key is to approach improvement systematically and continuously .

Long-term benefits of process improvement plans

The long-term benefits of commitment to process improvement are substantial.

Organizations that excel at this create a sustainable competitive advantage, are more adaptable to change , and are better positioned to meet future challenges.

Next steps for organizations

Organizations looking to grow and improve their process improvement journey, starting with a honest assessment of current capabilities.

Identify areas of greatest opportunity or need, invest in training and tools, and remember that improvement is a journey, not a destination.

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• Disaster recovery planning and management

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6 business continuity plan software providers to know

Business continuity planning software can help organizations create a plan that automates time-consuming processes and accounts for critical aspects such as regulatory compliance..

• Brien Posey

Developing a business continuity plan can be an overwhelming task, particularly for larger organizations. Business continuity plan software can help ease the process.

Business continuity encompasses the processes that get an organization back to normal operations after a disruption. Depending on the industry, the amount of downtime a business experiences can result in loss of reputation or even legal action from customers. Organizations can manually create business continuity plans , but might not want to risk the possibility of human error in a critical process.

Business continuity software does more than just outline the details that need to be included in an organization's planning effort. It can help identify key risks and existing single points of failure within the organization's operations. A good business continuity plan software package can help the organization maintain regulatory compliance as well as automate some of the more time-consuming tasks associated with the planning process, such as gathering data with a business impact analysis .

The sections below outline some of the more prominent software options for risk management. While some of these options might best be described as full-blown business continuity plan software suites, others focus on specific aspects of the business continuity planning process.

The following list is based on the writer's research and professional insights into the business continuity and disaster recovery market. In choosing featured vendors, the author focused on ease of use and range of features.

This list is unranked and published in alphabetical order.

Agility Recovery

Agility Recovery specializes in helping businesses acquire the resources they need in times of crisis. This might include replacement IT hardware or fuel for generators. In addition to business continuity testing and tabletop exercises, the company also offers Agility Planner.

Agility Planner is designed to be easy to use and helps organizations create a business continuity plan. Where possible, these plans are prepopulated, using the organization's own data, all with an eye toward maintaining compliance. A built-in reporting engine makes it easy to generate reports on the organization's emergency preparedness.

Agility Recovery does not publicly disclose pricing information.

Archer Engage might best be described as a collaborative platform that is geared toward risk management. The idea is that to be effective, risk management practices must be adopted throughout the organization, and Archer Engage provides a way for stakeholders to participate in the risk management process.

Risk management is all about balancing the potential financial impact of risks against the cost of mitigating those risks . Archer Engage provides decision-makers with information about the potential economic impact of various risks as well as an analysis of risk prevention options.

Archer does not publicly disclose pricing information.

Everbridge provides business continuity planning software, but also focuses on workforce safety, IT-related disruptions, physical security and public safety.

Everbridge provides options for developing business continuity plans, particularly for retail and manufacturing. Everbridge has designed its software so that business continuity plans become part of an end-to-end protective tool revolving around an interactive dashboard that provides risk intelligence. The company also offers a mass messaging feature designed to deliver notifications to employees who are affected by an incident.

Everbridge does not publicly disclose pricing information.

Fusion Risk Management

Fusion Risk Management provides risk management software options, but also focuses on operational resilience, third-party risk management, IT and security risks, crisis and incident management, and business continuity management.

The company's business continuity management software, Fusion Framework System, works by charting all of a business's processes. This helps the software map dependencies and identify business impact tolerances . The software also enables organizations to perform what-if analysis and various exercises as a way of improving operational resiliency . Recently, Fusion Risk Management also integrated generative AI-powered assistants as an additional tool that customers can use in the resilience planning process.

Fusion Risk Management does not publicly disclose pricing information.

LogicManager

LogicManager is designed to act as a comprehensive enterprise risk management suite. Business continuity is only one of the software's core functions. The software also helps with IT governance and cybersecurity, third-party risk management, compliance, internal audit management, financial controls and HR risk management. Users can manage all these areas through a central risk management hub.

Because LogicManager is designed for enterprise use, risks can be defined on a per-location basis; for example, an organization might have one location that is especially prone to flooding. LogicManager also provides native integration with more than 500 business applications, making it easier to work with an organization's existing data.

LogicManager does not publicly disclose pricing information, but the company does offer a 90-day free trial.

Riskonnect Business Continuity Management software is designed to assist organizations with disaster readiness.

Riskonnect's software is based around a series of KPIs and enables businesses to experiment with various what-if models. Perhaps more importantly, Riskonnect detects hidden vulnerabilities that an organization has not addressed. It also automates the review, update and approval cycle. This process is critical, since without regular reviews, business continuity plans quickly become outdated.

Riskonnect does not publicly disclose pricing information.

Brien Posey is a 22-time Microsoft MVP and a commercial astronaut candidate. In his more than 30 years in IT, he has served as a lead network engineer for the U.S. Department of Defense and a network administrator for some of the largest insurance companies in America.

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