Discover the Top 5 Tools for Crafting a Winning Business Plan
A business plan is not just a document that can be used to build a business. It is a skill to be possessed by entrepreneurs and business owners.
Is writing an impeccable business plan the only way to succeed in running an online business? Sometimes not.
With some business-based common sense, a futuristic idea, some motivational drive, and luck, it could give you the expected output. Sometimes even more.
Acquiring funds to start your business is a task. That is when you’ll need a solid business plan.
To budding entrepreneurs, you’ll need a clear understanding of a business plan and how it can be leveraged to get any business up and running successfully.
Let’s get started!
What is a business plan for?
A business plan is a meticulously planned and crafted document that can be used to convince yourself and your stakeholders to invest their time and money in your business.
Even today, it is said to be one of the strongest foundations for determining the calibre of any business prospect.
When starting an online business, it is even more important to strategize your moves (like a chess player). An online business has more components to consider than a brick-and-mortar store.
You won’t use traditional methods to market your product or service as an online business owner. You’ll be reaching out to your customers virtually. Including all these factors in your business plan is important before proceeding further.
Top 5 Tools for Creating Strong Business Plan
1. SlideBean:
SlideBean has templates for pitch decks for various startups that could be utilized to their fullest extent. Investors nowadays don’t want a very comprehensive business plan. Therefore, SlideBean can be used as a single deck template to develop a business plan for your needs.
2. LivePlan:
LivePlan is a paid tool ($20 per month) that can fix budgets and brainstorm goals and key performance indicators in a business plan. This tool is very efficient for any small-scale business owner.
3. SME toolkit:
This business plan toolkit is offered by IBM (International Business Machines) and IFC (International Financial Corporation), giving a simple two-page business plan with 10 broad sections, from the executive business summary to marketing strategies.
4.99Designs
It has numerous templates and designs. It is a paid tool that has been supplied with working and proven business model samples that can be designed and presented to your investors.
5. MindMup:
MindMup is an effective tool for brainstorming and mind-mapping business ideas and formulating business plans. This is even a creative platform for your business's content creation and marketing plans.
The core purpose of formulating a business plan is to obtain funding for operating the business. Therefore, the idea initiation and other core details in the plan must include the revenue model to show the potential of your business.
These details should be included in any business planning activity that could help you run a smooth and planned business.
