By Akhil Shahani, an EO Bombay member and director of The Shahani Group.
Whether you’re starting a new venture or you’re looking to enter new markets, developing a business plan is one of the most arduous tasks of entrepreneurship.
Luckily, there is an efficient way to create one: business plan software. One of the most important things this software offers is guidance on writing out a flawless plan. No longer will complex and elaborate financial forecasting activities be so difficult to do, especially since this type of software offers a step-by-step approach to simplifying plans.
With business plan programs, entrepreneurs can be aware of every influencing factor and stage of their plan. Good software will not just automate tasks; it will also analyze business ideas to help you choose how best to implement your plan. Here are some tips I discovered for choosing the right software:
- The software must offer a good number of templates and samples so that the process of creating a business plan is simplified.
- It should have flexible and customizable features so that it can be used according to your specific requirements. For example, it should allow for customizable retrieval of data for reports or analysis.
- The software should integrate with other software, particularly with accounting software, so that it can retrieve figures for analysis and decision making.
- Its features should enable you to easily carry out tasks related to your financial projections.
Since implementing business plan software in my business, my goals have been more organized, my schedules are more secure and my objectives are clearer. I have eliminated the back-of-the-napkin planning that comes with running a business and set myself up for future success.