It's time to create a plan for your business, and you need business plan writer software to create that plan. However, it's more complicated than simply going to the store to look at all the business plan software applications on the market. You need to do more than shop for the software, load it on your computer and start inputting data. It's essential that you understand using business plan software so you get the most out of it.

You can compare different business planning software on the Internet, and then purchase the best one for your business. You can then learn different applications for using your business planner software on the Internet. Once you have learned how to use the software, you'll be ready to create your business plan.

1. Create your own business plan using business plan writing software.

2. Create statements with your business plan software to forecast your financial future.

3. Use your business plan writer software to create a loan package.

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

Use business plan writer software to create your business plan

Your business plan is the foundation of your business, and business plan writer software can help you create it right the firs time. Use a program that walks you through every step of writing your business plan, but one that still allows you to add new content to it as your business grows.

I recommend: Business Plan Pro features step-by-step instructions on creating a business plan. Automate Your Business Plan features an organizational plan, financial planning and an updated word processor program.

Use business plan applications to create your financial forecast

Whether you use online business plan software or software you download on your computer, creating your financial forecast is an important aspect of your business plan. Find business plan financial software that helps you determine your future profits so you know how to appropriately plan your business deals.

I recommend: DIYBixPlan.com provides access to the Ultimate Business Planner, which helps you make your financial forecast through profit and loss statements, sales projections and expense budgets. Use the Ultimate Financial Forecaster from Atlas Business Solutions to build a comprehensive set of financial projections for your business.

Use software for business planning to write an SBA loan proposal

A loan is often essential to the start-up of any business. However, the fact that you're a small business doesn't guarantee you'll receive a loan from the SBA. Invest in business planning software that allows you to write an SBA loan proposal so you have the best chance at receiving the money you need.

I recommend: Business Plan Solutions offers business planner software that allows you to use a standardized format for your SBA loan paperwork. Use Loan Builder from JIAN to create your loan package for the SBA or other commercial lenders.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you have a small business, you'll want to make sure you find small business planning software designed to meet your small business needs.

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

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

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

Free solutions

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

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

Browser-based solutions

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

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

Template-based solutions

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

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

Application-based solutions

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

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

Industry-specific solutions

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

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

Tips & Tactics

Helpful advice for making the most of this Guide

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

Business planning software is a great tool for your business. It can help you start your business, maintain your business, keep track of your business' records, including financial records, let you import records you may already have on other programs and analyze your business.

With so many business plan applications available at your fingertips, you'll wonder why you didn't use business plan software programs before. Use these business plan software basics so you can find the business plan software that best meets your business needs.

1. Use online business plan software to research several different business plans, and find the features you'll want to include in your business plan.

2. Choose the best business plan software for your business' needs.

3. Create your business plan with your new business plan writing software.

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

Use free business plan solutions

There are hundreds of free business plan templates online, and you can use these samples to find content for your own business plan. By having an idea of what you want your business plan to look like before creating one, you will save yourself a lot of time and energy. This also helps you narrow down your search for business plan software because you'll have an idea of the features you need.

I recommend: Bplans.com offers more than 100 free business plan templates you can research. Business Resource Software offers free sample business plans.

Choose your software for business planning

There are different business plan writing software applications you can choose from. If you want to create a business plan using the Internet, you can use online business plan software. If you have a small business, you'll want to use small business plan software. You can also use business plan financial software to include your budget in your business plan.

I recommend: Palo Alto Software offers Business Plan Pro - Premiere Edition for all of your business planning needs. Avanquest Software offers Business Plan Writer Deluxe to help you express your ideas in ways that investors expect.

Use your business plan writing software to create your business plan

Use the information you acquired from your research, the step-by-step instructions provided by your business plan software and helpful information you can find on the Internet to start writing your business plan. You can start with the basics, and build your business plan from there, making it as detailed as you need it to be.

I recommend: MiniPlan.com allows you to create a free mini business plan online that will help get your business plan started. BizPlanBuilder provides business plan software applications from JIAN that will help you create your business plan.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Use a small business plan software program to get your small business up and running.

Writing a business plan doesn't have to be an overwhelming task. Finding a good business plan software can mean the difference between weeks of sifting through information and days of easily constructing a solid informational piece.

Business plan software comes either templated or in an interactive format. Both options have their advantages and disadvantages. They also share some of the basic key terms, while other terms differ by type. Learn some of the software terms to keep your business plan on track.

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

Opportunity analysis

Opportunity analysis is the process of looking for additional revenue or less expenditures. The breakdown of ideas looks to improve profitability and productivity. Information inputted in business plan software can be put in easy form to analyze.

I recommend: Bplans.com defines opportunity analysis and explains the process as it relates to writing a good business plan.

Data architecture

Data architecture refers to how the business plan software is designed to support different applications that your company may already use or is considering.

I recommend: Review the definition of data architecture at GEMI HSE Web Depot.

Break-even analysis

Break-even analysis is the review of potential sales and costs. The term break-even refers to the point at which sales amounts cover costs or better. The analysis is used to predict profitability or lack thereof.

I recommend: Investopedia defines break-even analysis and explains how it can be used.

Interactive or templated business plan software

Business plan software comes in one of two forms - interactive or templated. With templated plan software, you input information into a spreadsheet, word processing or other pre-determined forms. The interactive software is a guided-process. The software directs you through sections of the business plan and generates text, graphics and charts based on your input.

I recommend: An explanation of interactive and templated business plan software can be found in the review at Home Office Computing.

SWOT analysis

SWOT analysis is an outline of the potential growth of a business. The acronym stands for strengths, weaknesses, opportunities and threats.

I recommend: Find the definition of SWOT at Teneric business glossary.

Executive summary

An executive summary is an information overview of the business concept. It includes important details from most parts of your business plan, and must be written with great care to ensure your point is understood. It is used as part of the business plan to convey your message in a clear and concise fashion.

I recommend: Read the definition of executive summary at Deluxe Enterprise Operations.