Business Planning Just Became Easier.

Business Tools | April 9th, 2007

The problem with most aspiring entrepreneurs is that they have big dreams and but don’t properly understand the fundamentals of what it takes to run a business from an operational standpoint. Entrepreneurs need to understand the basics of cash flow management, budgeting, setting goals, and sales forecasting.

Don’t be too surprised to talk to a lot of business owners who have grand ambition to conquer the world but have not actually sat down to map out their ambition. Until you can sit down and plan your business, you only have a hobby on your hand, not a business.

In comes PlanHQ—an online business planning web application designed to help entrepreneurs map out their business plan. I had tested out their demo and this is a very sleek and intuitive interface. The dashboard outlines the critical functions that every business owner has to master. This includes mission critical skillsets such as determining your executive summary, sales and marketing objectives, cash flow management, and determining short term and long term organizational goals. The software will take you step by step through each process of creating a business plan while simultaneously educating you on what each process is about. I don’t consider their help guide as the most comprehensive guide to business planning, but it is enough to educate most startups on the basics while they work their way through the application.

PlanHQ also gives you the option to export the information you’ve filled out into both a pdf and Microsoft Word document.

You can try out their service for free for 30 days without having to input your credit card information. After 30 days, the services prompts you to try one of their three plans. Their plans are priced at $15, $25, and $50. The primary feature that affects price is how many goals you are allowed as well as how many users are allowed access to the software. You may need additional users if you want the input of your other partners as well as include a business-planning consultant.

As great of an affordable web application this is for startups, this will not replace having a true business advisor on board. In fact, this software will only compliment and make the job of a business advisor easier. PlanHQ intends to market this product aggressively through other business advisors to get the word out.

Sitting down and agonizing over forescasting statements and operational plans is never fun. With its sleek and user friendly interface, PlanHQ will make the life of any business owner easier.