I’ve never written a business plan, nor have I done any serious work with financial spreadsheets. Just using examples found online or in books seemed a bit overwhelming. When I got the software installed and running on my computer, I was very pleased at the intuitive way the program was laid out. All of the text sections that I needed to write came easily with the clear instructions and samples.
I had troubles with the spreadsheets. When I had the Business Plan software check my spreadsheets, it claimed there were errors. The good news is that the software even listed the name of the spreadsheets, which had the errors (I had not noticed the spreadsheet names before this point). The software even told me how to fix my errors. This was great!
Sadly, I could not just link to the offending spreadsheet with a click of the mouse. Confusingly, the spreadsheet names did not match the software program outline titles. The spreadsheet names were also in a different order than the business plan outline. I had to manually hunt through every section of the entire software program to find the offending spreadsheet. By the time I had found the spreadsheet, I had forgotten HOW I was supposed to fix the error. Once I found the right spreadsheet, I ended up manually writing down the business plan outline section where the spreadsheet was located so I could find it again, then I went back to the spreadsheet check section for information on how to fix the spreadsheet.
And worst of all to me, I still did not understand how the numbers went together when the software printed out the tables. I know the numbers I have from my research, but the software did not make this section simple or intuitive enough for me to understand.
Lastly, when I finished the work I could do and took it to a local Small Business & Entrepreneurship Development place, I was told there were a couple of spreadsheets of information missing:
1.) A spreadsheet listing the cost of fixtures and equipment is needed to justify the dollar amount I listed on the line “Start-up Assets To Fund” under Table: Start-Up Funding. Currently it appears the software just asks for a single number input to cover everything you need to start, which seems pie-in-the-sky, pick a number at random, and not hard financial data. Also, I have no idea where my advertising, website development, and other start up expenses before opening the business are supposed to go since those are not “assets” as is defined by my understanding of the term.
2.) A “Personal Assets” spreadsheet is needed. This software is missing that critical piece of information that lenders will require about a borrower’s loan worthiness.
I’m still working on this part, so I don’t know if I can import these extra spreadsheets into the program, or if I’ll have to print out my spreadsheets separately and add them to the back of the business plan.
Overall, despite the spreadsheet issues I’m still working through, this software is very worthwhile. I went from knowing nothing about business plans, to having one that will work when I get the extra spreadsheets finished. The director of SB&ED had even complimented me on the written portion of my plan, citing the details written. Considering I knew nothing about how to construct a business plan, that impressed me.
Overview
The Premier Edition of Business Plan Pro takes business plan software to the next level. You get everything that people love about the standard product: 500+ sample business plans, step-by-step expert guidance, built-in market research data, SBA and lender-preferred formats. In addition, the Premier Edition provides greater flexibility and integration. Add your own plan content from Excel, Word, or other sources. Use the business valuation tools to assess your business opportunities and track investor offerings. Track your actual performance against your plan for ongoing business management. Also includes adds streamlined plan outlines, Spanish language support, and more.
*** Product Information and Prices Stored: Jan 31, 2010 09:32:04
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Tags: Anniversary, business, Edition, Premier
Posted in Palo Alto Software, Inc. |
