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KristineS
08-29-2008, 08:18 AM
There are a lot of software packages out there that claim to be able to help you write your business plan. When I was taking classes in college we got a business plan software package from one of the classes. I don't think I ever even opened it.

When you planned your business did you use business planning software or was your plan more informal?

If you did use software, what did you use?

vangogh
08-29-2008, 12:04 PM
I didn't. The software struck me more as one that would make sure you crossed all the 'T's and dotted all the 'I's if your plan was meant for a business loan. Mine was meant to be informal and for my eyes only so I found a few sample instead and wrote my plan based on the samples.

I think the software would probably help if you are looking for a loan. I can't say for certain since I never used it, but I got the impression it would help make your plan more professional looking at the end and would include advice to help get the loan. If it could do that it was likely worth the price. Again that's just my sense of the software, since I never actually used it.

orion_joel
08-30-2008, 02:18 AM
I started out using some software to try and put together a business plan, in the end i just literally pulled the outline from the software and filled in all the details myself. The actual plan, was really going to sound more like some elaborate huge business, then just what i was actually planning.

I think the focus of the business planning software is more just trying to help people write a plan to get finance or maybe pitch the business for venture capital. Although i think it would become apparent quite quick they had used software as the plan more then likely would not show as much flare for being individual.

KristineS
08-30-2008, 10:24 AM
You may be right about that Joel. I got a whole book and the software and it seemed very elaborate for just writing a business plan. I always wondered if anyone ever used that stuff or if they just wrote something simpler on their own.

vangogh
08-30-2008, 12:18 PM
Joel that was the exact impression I got from look at the sales pages of the software. I can imagine if you are looking for a loan the software would help. In that case it might be more important to have a report in the format a bank is looking for and the individuality maybe isn't so important.

But if you're goal is to write a plan for you I think following the basic outline of a sample is fine.

orion_joel
09-02-2008, 02:22 AM
The software that i tried out initially was i think Palo Alto's Business Plan Pro. While i did end up just basically using the outline and writing it myself, the sample plans that you can access with the software are a good resource as well. Even if they seem a lot over the top to what you might think you need they give you a good idea what sort of information to include in the different sections.

I think some of the different business planning software give trials, it is very worth trying before you buy. As you may find that using the software greatly restricts your natural creativity, but at the same time will give you a good idea of what direction you may want to go with the information. Additionally getting a hold of some sample business plans may be a much better idea then finding software.

vangogh
09-02-2008, 11:16 AM
That's the software I'm aware of too. They give out a couple of free samples and it's their samples I used as a template for writing my own plan.

orion_joel
09-03-2008, 01:41 AM
Exactly even just there samples give you enough to get a good idea of the path to follow in writing your own that the price they are asking does not seem worth it for the most part.

BillR
09-08-2008, 05:08 PM
Most of the bankers I have ever talked to would pretty much immediately disqualify the vast majority of business plans written with off the shelf software.

The reason was simple - their bias was to assume that the people who used the software were thinking "If I just follow this plan the computer gave me I can't fail!" which is, of course, ludicrous. If you are really planning a successful business the software can at best give you an outline.

Using the software is good if you want to see an outline of a business plan - but then you need to take that and re-write it from scratch in MS-Word (or the word processing application of your choice).

KristineS
09-08-2008, 08:47 PM
I hadn't thought of that BillR, but if I were looking at a plan and evaluating it for a loan, I would probably reject a cookie cutter plan too. You want to see something that shows that people put real thought into what they were proposing.

A plan based on a software package could provide your bone structure, but you have to put the flesh on the bones yourself.

vangogh
09-08-2008, 10:56 PM
I wouldn't have thought that. I would have thought the software made sure you dotted all the 'i's and crossed all the 't's. If all it's good for is the sample you might as well just download the free samples and then write your plan based off of them.

BillR
09-10-2008, 09:21 PM
I wouldn't have thought that. I would have thought the software made sure you dotted all the 'i's and crossed all the 't's. If all it's good for is the sample you might as well just download the free samples and then write your plan based off of them.

One of the worst experiences we had was someone who promoted himself as a broker who helped companies secure financing (by the way - there's a VERY good living to be made doing this legitimately).

This guy met with us for days and took notes, etc. To follow-up he was supposed to write a substantial business plan which would then be submitted to a bank. His payment was 5% of the total loan amount we would have recieved.

When we got his "plan" it was terrible. He had numerous typos, etc. The plan itself was only a few pages long and had obviously come from one of these sources. We declined his services but still ended up paying him small fee.

Not surprisingly this guy ended up in prison a year or so later for major fraud. And I mean Federal prison - the FBI actually interviewed one of my partners about his. Fortunately we had declined his services so we did not have to be involved in the prosecution of his case.

orion_joel
09-10-2008, 11:38 PM
These kind of unscrupulous characters are the things that turn so many people off business. They spend so much time on coming up with an idea and the work to get something going and then land in to a scheme like this guy was running. Without really knowing any better or different.

vangogh
09-11-2008, 12:19 AM
Bill it's wild what some people will do in their business. Guess the software doesn't do such a good job with the 't's and 'i's either if the plan he wrote was filled with typos.