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You might claim that the Jewish deli you propose to open in Asheville, North Carolina will turn a profit in three years, but the market data suggests five years is typical.
That's because the next step can be both difficult and labor-intensive, namely writing a coherent business plan.
Going from random napkin-notes to an organized, thorough plan to get your business started, funded, and generating revenue for the foreseeable future can be a mammoth undertaking, especially for beginners and even more so for people trying to go it alone.
A business plan tells others how you will get customers and clients, who will run the business, and how early-stage venture capital (VC) will be raised.
Business plans help you talk about yourself, explain your strengths, and ask for money to back up your idea.
However, a few of them provide additional services such as connecting you to funding sources (Equity Net gets a nod here) or comparing your plan to others' plans in your industry (such as what Enloop's performance score does).
Ultimately, though, the two Editors' Choice winners were clear: Palo Alto Software Live Plan and Tarkenton Go Small Biz, both of which checked off most boxes on a typical entrepreneur's wish list.
We test 10 business plan creation tools that help you build and track your organization's future.
Many of us have been there: That sudden epiphany in the shower or at a bar chatting with friends.
Strat Pad's educational videos are a model for how this sort of thing should work. Report Depth and Presentation The result of all of this work is a business plan, a document for others to read.
These don't always need to be works of art but it helps if the business plan software solution packages your business plan attractively and permits customization.