Writing a business plan takes a lot of time and effort, but is necessary for any business looking for funding or wanting to gain a clear vision of its capabilities and viability. Creating an effective business plan, however, can be tricky. It needs to be descriptive yet concise and it must successfully convey the value of your business to clients and investors. Fortunately, for entrepreneurs facing writer’s block or those who are on a budget, Enloop is a business plan writing software that offers some cost-effective (even free!) solutions to help you put together a persuasive plan.
Launched in 2011, Enloop’s online service helps entrepreneurs write their business plans and determine the viability of their idea. According to Founder and CEO Cynthia K. McCahon, Enloop’s vision is to improve the success rates of newly founded businesses by helping to identify weaknesses in their strategies. “The vast majority of small businesses fail within five years. I wanted to create a tool that could help decrease business failure rates worldwide by… giving them fair warning of their likelihood of success and giving them the power to make better decisions in how to…or even whether to… pursue their venture,” McCahon writes. In two short years since its founding, Enloop has made headway in the startup space and has been featured in CNNMoney, Forbes, Inc., and MSNBC.
Enloop offers a number of useful features.
- AutoWriteTM automatically generates basic text that users can edit.
- Automated financial forecasts utilize inputs to generate 36-month projections for sales, profits, cash flows, etc.
- Collaborative tools allow colleagues to share and edit the document via the cloud.
- Aesthetically pleasing charts and graphs increase readability.
- Automatically generated industry-standard financial ratios mean you don’t have to be an accountant to present effective financial data.
Plans & Pricing
Best of all, Enloop offers a free plan. Though it has its limits, the free version provides a decent amount of details. Three-year forecasts, three financial ratio analyses, and a maximum of one additional user who can view and edit the document via the collaborative share tool – all this is available for free. If you decide to use the Professional plan – the most detailed and expensive one – you’ll receive access to additional features for $39.95 per month or $24 per month with annual payment. These extra features include live phone support, an unlimited number of business plans, and 16 financial ratio analyses. There are no contracts so if you only need an advanced plan for a month or two, you can downgrade back to the free plan afterwards with no hassle.
For some startups, writing a business plan can be as painful as pulling teeth. But it’s a must if you want to attract investors or be approved by lenders. Even businesses that are not on the hunt for capital need to conduct an extensive viability analysis that business plan crafting provides. With that in mind, it’s worth checking out Enloop. Start with the no-risk free version to see how you like it and then move up to a premium plan if you need additional tools and features. The combination of automation and customization that Enloop offers produces professional plans that meet industry standards without sacrificing the human element important to all writing. So get started! As Dwight D. Eisenhower said, “planning is everything.”
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