Just about every business makes use of a computer.  Everything from financial spreadsheets to online stores is managed via a computer.  A business computer has to have all the software programs necessary for the organization to function.  These software programs range from general in nature – such as spreadsheets – to highly specific.  In a sense, business plan software is general in nature because one of these software packages can be applied to just about any commercial enterprise.  However, because all businesses have unique needs, a good business software package will have programs that are best suited to different fields.  For instance, you can find software packages for administration, manufacturing, food service, shipping, entertainment, and so much more.  Just about every field of business is served by a number of professional software packages.

Business plan software gives you the tools to organize the information you rely on.  Personnel files can be organized and managed in a highly effective, highly secure manner.  Even if you are the only employee, there is a considerable amount of personal information required for tax purposes and other reasons.  This information has to be updated on a regular basis.  Because this information is so sensitive, you have to take measure to protect it.  Many business software packages include a range of security options so you can choose the protocols that work best for you.  Access can be managed from a central location or given to a team of administrators.

Business plan software also gives you the means to communicate with all members of your organization.  Even though many people think of businesses as being located in a single physical building, the reality of the modern business world is that employees might be located in many parts of the world.  Managing the contact information of all these diverse employees can be a challenge to even the most dedicated manager, so people are increasingly relying upon dedicated software programs to assist them in this important task.  With just a few clicks of a mouse, it is possible to contact far-flung team members, send email, and relay valuable information.  In short, business software helps your employees work harder.

It’s clear to see just how important a business plan software package is to the successful operation of your modern business.  Without good software, it’s hard to keep vital information organized.   You can’t communicate with employees as easily and you can’t manage security protocols, either.  If you have the right kind of software, it becomes possible to manage all your most important business functions from a single computer terminal!  The right software will quickly become one of your most valuable business assets.

Regardless of whether you’re choosing freeware, shareware, or paid software programs, it’s important to find business plan software that has a wide variety of plans from which to choose.  Your business is unique, and it’s not usually a good idea to go with a “one size fits all” approach when creating your plan.  The more plans offered by the software, the more likely you are to find one that closely fits your vision for your business.  Creating a clear, concise business plan can be a significant factor in the future success of your endeavor, so keep this in mind as you make your choice.

Look for recommendations.  There are a number of sites dedicated to the business world, and they may have areas in which they recommend software.  Look online for reviews by industry professionals and software users, as well, to see the pros and cons of each program you’re considering.

You can also look for business plan software that’s bundled as a package with other helpful material.  Some may offer startup kits, or books on starting a business, for example.  Others may offer extra support services or online chats that can help you if you have questions.  Take a careful look at the extras, and see if they may be a good option for you to consider.  They may be worth the extra price, if there is one.

If you’re new to the business world, or if you’ve never written a business plan before, look for a software package that offers step by step tutorials and guidance.  Look to see that the software will really walk you through the whole process and make everything clear along the way.  Find out, too, if you can get extra help if you need it, and what it might cost if you do.

Check to see what financial products are offered with the business plan software as well.  Some offer special tools that help you manage cash flow projections, break-even analysis, and budgeting in general. You should be able to develop charts, forecast profits and expenses, and enter all the information without a lot of detailed formulas.  A good program should help you make sense of the numbers and can even help you double check to be sure they make sense, so you’re confident you have a plan that’s feasible and works well for you, before you present your plan to potential investors.

Good software programs can be the difference between a successful business launch and one that never gets off the ground.  With such a wide variety of options, you should be able to find the perfect one to fit your needs with just a little bit of legwork.  Before you know it, you’ll be on the way to your grand opening.

Read business plan software reviews.

Keep it simple. Structure your business plan with the basic categories. Develop each section in a few paragraphs. Include statistics or estimates as needed.

•    Executive summary. In a paragraph or two, summarize the main goals of your company.

•    Description. Explain the company name, location, mission, vision, and objectives or goals.

•    Product or services. Describe what the company will be, sell, or do.

•    Target market. List expected market groups that will be interested in the company’s services. Include community demographics as they relate to your business location (unless it’s a web-based business only), for example, proximity to nearby shopping areas, malls, or business district.

•    Employees. Clarify the start-up employee positions, i.e., manager, assistant manager, four telemarketers, two stock associates, etc., along with expected future positions (and the timeframe for hiring them). If you have already hired employees, include their bios with emphasis on strengths and skill sets.

•    Budget. List required start-up expenses for items like office rent, utilities, equipment, supplies, employees, and other costs for the first one to three years.

•    Strategic plan. (This may alternately be placed immediately after the Executive Summary.) The strategic plan lists your company’s goals, objectives, and action steps in measurable segments that can be reasonably executed. For example: “XYZ Company will sell 15,000 pair of athletic shoes within the first twelve-month period at an estimated profit margin of 38 percent.”

•    Appendix. The plan may benefit from an index of terms, people, or concepts associated with your business and named in the plan, which may not be readily understood.

Write the plan in simple language so that the average person could understand it. But also keep in mind that the plan should be geared to those who may be providing financial or other kinds of support. Make sure your plan clarifies what the business will do, how, over what period of time, for whom, and at what level of expense before breaking even.

Avoid stating the negatives of your proposed business, unless they are balanced with or outweighed by positives, as too many concerns could discourage investors.

Your business plan doesn’t need to be any longer than five or six pages, as long as it covers the most important parts of your business. You may be able to get a retired executive or member of the local Small Business Administration to review it at low cost or for free. Free templates are available online.

1. Develop a business concept.
Do you have a clear idea of what your business will do? Have you defined goals? How about a timeline for building your business? These are typical aspects to developing a successful business idea. The planning stage is as important, or more so, as the implementation phase, so make sure your idea is focused, clear, directional, and has adequate support.

2. Organize related materials.
A well thought-out business plan requires attention to several key features of the proposed business: An executive summary, goals, marketing plan, start-up costs and operating budget, timeline, and key employee positions who will run the business. Each of these topics can be broken down into more specific segments, but this gives you an idea of what to include in your business plan. Prepare and organize the materials so that you are ready to discuss them with potential lenders or clients.

3. Obtain a business plan model or template.
Basic business plan templates can be found online for actual businesses or as samples of fictitious businesses. You can download a form and simply fill in your plan’s data. If you are uncertain of how to do this, or if you would feel more comfortable relying on a proven plan framework, you can buy business plan software for between $100 and $200 that is easy to use and will do most of the work for you.

4. Consult appropriate sources.
As you collate your information and build the plan, it may be helpful to consult professional sources that offer free or low-cost assistance. For example, you can contact the Internal Revenue Service for business startup tax information. There is also a U.S. Small Business Administration that provides assistance and guidance to small business or individual business owners. PR Web is a great source of marketing information. Business.com points to a host of useful resources. It may also be helpful to discuss your proposed business with a banker or lender, and a local small business administration if one is available.

5. Compare your plan to successful business plans.
After completing a draft of your business plan, compare it to the samples available online or at the public library in the Business section. Make sure your plan uses similar categories and a professional tone. If you find discrepancies or have questions, you may want to contact a local business similar to the one you want to start and offer to pay someone in Human Resources to review your plan.

Start your plan now – in the business world, time is money!

Liability coverage

Liability policies provide coverage for several types of business liabilities. When evaluating a liability policy, verify that the policy covers accidents that may occur as a result of product deficiencies, customers falling on the property and in some cases, damage to customers property that occurs at the business location. Liability coverage can help protect a business owner from costly lawsuits.

Property coverage

Generally speaking, property coverage will help protect the business owner from loss of property due to fire, flood or other natural disasters. In addition, some property coverage riders also offer business owners content insurance which can cover the cost of replacing stock, furnishings and fixtures as a result of fire, theft or other losses. While some business owners may feel this type of coverage is not necessary, the cost of replacing the property and the contents should be evaluated before deciding the coverage is excessive.

Worker’s compensation coverage

While all business owners do what is needed to prevent their employees from being injured on the job, accidents happen. Workers coverage can help protect employers from being sued for injuries sustained on the job. Business owners should have this type of coverage regardless of the number of employees they hire or intend to hire.

The right insurance coverage can help protect your business from liability. It is important to note that as a company grows, it is a good idea to have insurance policies reevaluated to make sure coverage is adequate. Visit BusinessInsurance.org for additional information and a free quote.

A Solid Business Plan
Venture capitalists want more than anything to see a solid business plan. Make sure you take the time needed to create a solid plan. This plan should include your company’s mission statement, business purpose, start-up expenses and operating expenses, market analysis, marketing plan as well as your projected potential for profit or loss.

Excellent Management Team
The management team is a very important part of your business. Venture capitalists will look at their backgrounds, education as well as their past successes or failures. They want to know what their strengths, as well as their weaknesses are. They are looking for experienced individuals who know how to run a business and have had success in the past doing so. They are also looking for people with a passion for what they are doing. They need to know that you have the determination to do what is necessary to be successful in the venture.

A Need for the Product or Service
Before anyone will make an investment in a company, they will make sure that the product or service is needed. There is no reason to invest in a product or service that there isn’t a market for. You need to be ready to show why your product or service is desired and what your target market will be. It is also helpful to show your competition and what makes you stand out from them. They will also want to see how you plan on marketing the product.

Potential for growth
Venture capitalists want to see that there is a good potential for growth with the company. Have a detailed plan of what you expect your growth to be and how you will meet that growth. Detail a plan for the next several years showing your potential for growth. Investors are looking for long term growth with their investment.

A Potential for a High Return
Of course they will be looking for a big potential for a high return on their investment. Your profit/loss statements will be a very important piece of the pie. Be prepared to show the amount of time before a return can be expected, and be prepared to show what that expected return should be. Your financial reports and statements need to be accurate and precise.

By taking the time to thoroughly prepare yourself before presenting your business idea to venture capitalists, you stand a much greater chance at success. Do your research, and if necessary hire professionals to assist you. And be prepared to provide what venture capitalists look for.

Pros

Of course the first thing is you’re your own boss! You get to make all the decisions. You create your own work schedule, if you need the day off, take it. No more graveling to get the time off you need. You get to decide how much you make, or don’t make. You can even decide where you are going to work from. Whether you get an office or work out of your home, it’s all up to you. You’re the boss!
As a freelancer, you and you alone get to decide on the policies and goals of your business. You get to make the rules, and set the standards for which you do business. You create your own mission statement. You don’t have to follow somebody else’s.

No more playing office politics. No more worrying about dress codes, you can work in your pajamas if you want. No more listening to office gossip or wondering if your company downsizing is the end of your job. Freedom, you can now have it.
Cons

Of course the first thing is you’re your own boss! There isn’t anyone to blame now but yourself. The buck stops with you. If there is work to be done, you are the one who has to do it. There isn’t anybody for you to push the work off to if you are heading for vacation, or sick in bed with the flu.

Probably one of the biggest reasons more people don’t leave their jobs and start a solo career is the loss of benefits. Health insurance can be very expensive to purchase on your own. Without employer contributions, you may not be able to afford the insurance. Other benefits you stand to lose are employer contribution to a 401K, life insurance, paid holidays and paid vacation days.

With a solo career, all the decisions are up to you. You need to be the one to worry if the client is happy. You are now the one worrying if you are bringing in enough money to pay the bills. Every decision is yours to make, and then worry if it’s the right one or not.

Deciding on a solo career can be one of the most important decisions you will make. Make sure you weigh the pros and cons before you make that decision. You will need to list the pros and cons of the specific solo career you are planning to embark on. So before you make that final decision, grab a sheet of paper and start listing the pros and cons of a solo career.

Mission Statement/Purpose of Business
This is a short statement of the purpose of your business and what your business will provide. An example if you are a printing company could be; our mission is to provide complete quality printing services at affordable prices. Be short, but specific at what you plan to do for your target market.

Business Summary
This is a description of what exactly you will provide. Using the printing example, you can list the different types of printing services that you will be offering. Describe these services in detail. Include who will be providing these services and exactly how they will do it.

Define Your Market
A market analysis will show who you will be providing these services for and explain the need for the services you plan to offer. You should also include any competition you may have and why you will be the better choice for your market. Include what you offer that your competition does not.

Marketing Strategies
Outline how you will market your business. What types of advertising you will use, and how you will attract clients or customers to your business. Be specific, detailing your plan, and who will carry out the plan, if you will use an outside agency, then include which agency you will use and their past accomplishments.

Projected Profit/Loss
This is the projection of how much you expect your expenses are going to be for the time period of your business plan and what your income is expected to be. If you are already in business, you will use your past figures. You will need to do a lot of research for this part, and will probably have a lot of adjustments to make as you go. Once the figures are complete, you will be able to figure out when you can expect to see a profit.

Start-Up Expenses
Indicate the exact amount you will need to open your doors. Include the cost of equipment, building expenses, utilities, salaries, marketing, product inventory, and any professional services such as tax experts or legal professionals.

Operating Expenses
Indicate the costs of operating your business. This figure should include payroll, building expenses, utilities, supplies, etc. If you are already in business, then you will use your past operating expenses.

Management
List the names, job titles and the responsibilities of yourself and your management team. It is helpful if you outline their past experiences and what particular skills each of them will bring to the team. Include education, and business and personal references.

Future Growth Outlook
This is where you will indicate where and how you plan to grow your business. If you plan to open up other locations, indicate the location and time frame you hope to accomplish this. Your plan should include several years’ worth of growth you plan to achieve. Break the plan down year by year.

Once you have successfully written your business plan, you can now set your plan in motion.

A typical business plan can consist of many parts, they can include your title page, mission statement, business summary, financial statements, market analysis and marketing plans just to name a few. But you and your business are unique, so you want your business plan to be just as unique. You may be starting a home based business, so your plan will be different from someone opening up a franchise.

Your business plan should reflect your personality and character. Let your enthusiasm and passion show through your plan. Your mission statement is a great place to start tailoring your plan. If you are opening a home daycare, your mission statement can be “It is my mission to care for children with as much tender loving care as a teddy bear”. Of course, if you are opening a marketing consultant firm, your mission statement will be much more professional, especially if you are looking for funding from investors. The point is to tailor your statement to fit your business.

Financial statements and profit/loss projections are necessary in a business plan if you are seeking investors. You need to research your potential for profit or loss and be able to show potential investors the projected rate of return on their investment. Your financial reports will play a big part in seeking funding, so a lot will depend on these numbers being accurate and you may need to seek professional help. If you are not seeking funding from investors, then there isn’t as much riding on these numbers. Yes, you will still want to add these reports to a business plan, but tailor it to fit your needs. You only need to show yourself your potential for profit.

Whatever your target market, you will need to create a market analysis tailored to your needs. If you are looking at opening a home daycare, then you will need to research other home daycares and public daycare facilities to see what your competition is and what they are charging. It is also a good idea to see how business is going for them. Now, if you are planning on opening a fast food franchise, then you may want to research how successful others have been, as well as look at the local market and survey whether there is enough interest to support opening one.

The business plan for a pet walking service will look completely different from the business plan of an accounting firm. The point is to be sure that your business plan is tailored to your specific needs. Make it unique to your business and be true to yourself.

Making certain your business starts with all the proper safety rules and regulations in place isn’t just a good idea for your business, but also for the people who will be around it. That’s where the Occupational Safety and Health Administration, or OSHA, come in.

OSHA is the organization that is part of the US Department of Labor that is responsible for the safety of all businesses in the United States. On OSHA’s website you can get all the information you need on making sure your new business opens up in full safely compliance. Depending on what type of business you will open, you may have only a few things to tend to or a lot of things to tend to.

By utilizing the OSHA website you will be certain that everything you need to do in order to open your business up safely will be done properly. The website features easy always to search out what you are looking for according to your type of business and you can always contact them if you need additional assistance.

Ignoring safety regulations when opening any business is a bad idea. First of all, you could be endangering others who might work with you or even those who are simply visiting your business; like customers. Additionally, should you ignore safety regulations and then get caught, OSHA can impose fines and penalties and your business may be shut down temporarily or permanently.

Opening up your business in a safety compliant way is really much easier than you may think. Besides, ignoring safety is like playing with fire. It might be okay to do at first, but eventually you, or someone else, will probably get burned.