9 Strategic Planning Models and Tools for the Customer-Focused Business

Meredith Hart

Published: July 11, 2023

strategic plan abstract visual of hands holding a tablet with a plan on it and chess pieces to the right.

As the economist and business strategy guru, Michael Porter, says, “The essence of strategy is choosing what not to do.”

With strategic planning, businesses identify their strengths and weaknesses, choose what not to do, and determine which opportunities should be pursued. In sales operations, having a clearly defined strategy will help your organization plan for the future, set viable goals, and achieve them.

hbspt.cta._relativeUrls=true;hbspt.cta.load(53, '5f39f863-0316-486f-a5f3-849d76490a30', {"useNewLoader":"true","region":"na1"});

So, how do you get started with strategic planning? You‘ll begin with strategic planning models and tools. Let’s take a look at nine of the most prominent ones here.

business planning tools

Free Strategic Planning Template

Access a business strategic planning template to grow your business.

  • Sales and Revenue Growth
  • Growth of Customer Base
  • Expansion into New Regions

You're all set!

Click this link to access this resource at any time.

Fill out the form to access your business strategic planning template.

Strategic planning models.

Strategic planning is used to set up long-term goals and priorities for an organization. A strategic plan is a written document that outlines these goals.

Don't confuse strategic planning and tactical planning . Strategic planning is focused on long-term goals, while tactical planning is focused on the short-term.

Here are a few strategic planning models you can use to get started.

1. The Balanced Scorecard

The Balanced Scorecard is one of the most prominent strategic planning models, tailored to give managers a comprehensive overview of their companies' operations on tight timelines. It considers both financial and operational metrics to provide valuable context about how a business has performed previously, is currently performing, and is likely to perform in the future.

The model plays on these concerns: time, quality, performance/service, and cost. The sum of those components amount to four specific reference points for goal-setting and performance measurement:

  • Customer: How customers view your business
  • Internal Process: How you can improve your internal processes
  • Organizational Capacity: How your business can grow, adapt, and improve
  • Financial: The potential profitability of your business

Those four categories can inform goals that are more thoughtful and focused while surfacing the most appropriate metrics with which you can use to track them. But the elements you choose to pursue and measure are ultimately up to you. As there's no definitive list, they will vary from organization to organization.

That being said, there‘s a universally applicable technique you can use when leveraging the model—creating a scorecard. This is a document that keeps track of your goals and how you apply them. Here’s an example of what a scorecard might look like:

Strategic Planning Model Balanced Scorecard

Image Source

The Balanced Scorecard is ideal for businesses looking to break up higher-level goals into more specific, measurable objectives. If you're interested in translating your big-picture ambitions into actionable projects, consider looking into it.

Example of the Balanced Scorecard

Let‘s imagine a B2B SaaS company that sells a construction management solution. It’s been running into trouble from virtually all angles. It‘s struggling with customer retention and, in turn, is hemorrhaging revenue. The company’s sales reps are working with very few qualified leads and the organization's tech stack is limiting growth and innovation.

The business decides to leverage a Balanced Scorecard approach to remedy its various issues. In this case, the full strategic plan—developed according to this model—might look like this:

  • The company sets a broad financial goal of boosting revenue by 10% year over year.
  • To help get there, it aims to improve its customer retention rate by 5% annually by investing in a more robust customer service infrastructure.
  • Internally, leadership looks to improve the company's lead generation figures by 20% year over year by revamping its onboarding process for its pre-sales team.
  • Finally, the business decides to move on from its legacy tech stack in favor of a virtualized operating system, making for at least 50% faster software delivery for consistent improvements to its product.

The elements listed above address key flaws in the company‘s customer perception, internal processes, financial situation, and organizational capacity. Every improvement the business is hoping to make involves a concrete goal with clearly outlined metrics and definitive figures to gauge each one’s success. Taken together, the organization's plan abides by the Balanced Scorecard model.

2. Objectives and Key Results

As its name implies, the OKR strategic planning model revolves around translating broader organizational goals into objectives and tracking their key results. The framework rests on identifying three to five attainable objectives and three to five results that should stem from each of them. Once you have those in place, you plan tactical initiatives around those results.

After you‘ve figured out those reference points, you determine the most appropriate metrics for measuring their success. And once you’ve carried out the projects informed by those ideal results, you gauge their success by giving a score on a scale from 0 to 1 or 0%-100%.

For instance, your goal might be developing relationships with 100 new targets or named accounts in a specific region. If you only were able to develop 95, you would have a score of .95 or 95%. Here's an example of what an OKR model might look like:

Strategic Planning Model Objectives and Key Results

It's recommended that you structure your targets to land at a score of around 70% — taking some strain off workers while offering them a definitive ideal outcome. The OKR model is relatively straightforward and near-universally applicable. If your business is interested in a way to work towards firmly established, readily visible standards this model could work for you.

Example of the Objectives and Key Results

Let's consider a hypothetical company that makes educational curriculum and schedule planning for higher-education institutions. The company decides it would like to expand its presence in the community college system in California, something that constitutes an objective.

But what will it take to accomplish that? And how will the company know if it's successful? Well, in this instance, leadership within the business would get there by establishing three to five results they would like to see. Those could be:

  • Generating qualified leads from 30 institutions
  • Conducting demos at 10 colleges
  • Closing deals at 5 campuses

Those results would lead to initiatives like setting standards for lead qualification and training reps at the top of the funnel on how to use them appropriately, revamping sales messaging for discovery calls, and conducting research to better tailor the demo process to the needs of community colleges.

Leveraging this model generally entails repeating that process between two and four more times, ultimately leading to a sizable crop of thorough, actionable, ambitious, measurable, realistic plans.

3. Theory of Change (TOC)

The Theory of Change (TOC) model revolves around organizations establishing long-term goals and essentially “working backward” to accomplish them. When leveraging the strategy, you start by setting a larger, big-picture goal.

Then, you identify the intermediate-term adjustments and plans you need to make to achieve your desired outcome. Finally, you work down a level and plan the various short-term changes you need to make to realize the intermediate ones. More specifically, you need to take these strides:

  • Identify your long-term goals.
  • Backward map the preconditions necessary to achieve your goal, and explain why they're necessary.
  • Identify your basic assumptions about the situation.
  • Determine the interventions your initiative will fulfill to achieve your goals.
  • Come up with indicators to evaluate the performance of your initiative.
  • Write an explanation of the logic behind your initiative.

Here's another visualization of what that looks like.

Strategic Planning Model Theory of Change

This planning model works best for organizations interested in taking on endeavors like building a team, planning an initiative, or developing an action plan. It's distinct from other models in its ability to help you differentiate between desired and actual outcomes. It also makes stakeholders more actively involved in the planning process by making them model exactly what they want out of a project.

It relies on more pointed detail than similar models. Stakeholders generally need to lay out several specifics, including information related to the company's target population, how success will be identified, and a definitive timeline for every action and intervention planned. Again, virtually any organization — be it public, corporate, nonprofit, or anything else — can get a lot out of this strategy model.

Example of the Theory of Change

For the sake of this example, imagine a business that makes HR Payroll Software , but hasn‘t been doing too well as of late. Leadership at the company feels directionless. They think it’s time to buckle down and put some firm plans in motion, but right now, they have some big picture outcomes in mind for the company without a feel for how they're going to get done.

In this case, the business might benefit from leveraging the Theory of Change model. Let‘s say its ultimate goal is to expand its market share. Leadership would then consider the preconditions that would ultimately lead to that goal and why they’re relevant.

For instance, one of those preconditions might be tapping into a new customer base without alienating its current one. The company could make an assumption like, “We currently cater to mid-size businesses almost exclusively, and we lack the resources to expand up-market to enterprise-level prospects. We need to find a way to more effectively appeal to small businesses.”

Now, the company can start looking into the specific initiatives it can take to remedy its overarching problem. Let's say it only sells its product at a fixed price point that suits midsize businesses much more than smaller ones. So the company decides that it should leverage a tiered pricing structure that offers a limited suite of features at a price that small businesses and startups can afford.

The factors the company elects to use as reference points for the plan's success are customer retention and new user acquisition. Once those have been established, leadership would explain why the goals, plans, and metrics it has outlined make sense.

If you track the process I‘ve just plotted, you’ll see the Theory of Change in motion. It starts with a big-picture goal and works its way down to specific initiatives and ways to gauge their effectiveness.

4. Hoshin Planning

The Hoshin Planning model is a process that aims to reduce friction and inefficiency by promoting active and open communication throughout an organization. In this model, everyone within an organization—regardless of department or seniority—is made aware of the company's goals.

Hoshin Planning rests on the notion that thorough communication creates cohesion, but that takes more than contributions from leadership. This model requires that results from every level be shared with management.

The ideal outcomes set according to this model are also conceived of by committee to a certain extent. Hoshin Planning involves management hearing and considering feedback from subordinates to come up with reasonable, realistic, and mutually understood goals.

Strategic Planning Model Hoshin Planning

The model is typically partitioned into seven steps:

  • establishing a vision
  • developing breakthrough objectives
  • developing annual objectives
  • deploying annual objectives
  • implementing annual objectives
  • conducting monthly and quarterly reviews
  • conducting an annual review.

Note: The first three steps are referred to as the “catchball process.” It's where company leadership sets goals and establishes strategic plans to send down the food chain for feedback and new ideas. That stage is what really separates Hoshin Planning from other models.

Example of Hoshin Planning

For this example, let‘s imagine a company that manufactures commercial screen printing machines. The business has seen success with smaller-scale, retail printing operations, but realizes that selling almost exclusively to that market won’t make for long-term, sustainable growth.

Leadership at the company decides that it's interested in making an aggressive push to move up-market towards larger enterprise companies. However, before they can establish that vision, they want to ensure that the entire company is willing and able to work with them to reach those goals.

Once they‘ve set a tentative vision, they begin to establish more concrete objectives and send them down the management hierarchy. One of the most pressing activities they’re interested in pursuing is a near-comprehensive product redesign to make their machines better suited for higher volume orders.

They communicate those goals throughout the organization and ask for feedback along the way. After the product team hears their ideal plans, it relays that the product overhaul that leadership is looking into isn‘t viable within the timeframe they’ve provided. Leadership hears this and adjusts their expectations before doling out any sort of demands for the redesign.

Once both parties agree on a feasible timeline, they begin to set more definitive objectives that suit both the company‘s ambitions and the product team’s capabilities.

Strategic Plan Example

The strategic plan above is for a fictitious shoe company and outlines the way in which it'll differentiate itself within the market. It effectively uses each step in the strategic planning model framework and is written in a way to give a brief overview of how the company will enter the market and sustain longevity.

If you're working on a strategic planning model for an existing business, your plan will look similar, but have a few tweaks to the goals, including more goals about improving sales and processes. When drafting the action plan and evaluation parts of the plan, be sure to think tactically about the actions that will help you achieve the goals, and use your mission, vision, and values to guide the choices you make.

Strategic Planning Tools

There are additional resources you can use to support whatever strategic planning model you put in place. Here are some of those:

1. SWOT Analysis

SWOT analysis is a strategic planning tool and acronym for strengths, weaknesses, opportunities, and threats. It's used to identify each of these elements in relation to your business.

This strategic planning tool allows you to determine new opportunities and which areas of your business need improvement. You'll also identify any factors or threats that might negatively impact your business or success.

Strategic Planning Tools SWOT Analysis

2. Porter's Five Forces

Use Porter‘s Five Forces as a strategic planning tool to identify the economic forces that impact your industry and determine your business’ competitive position. The five forces include:

  • Competition in the industry
  • Potential of new entrants into the industry
  • Power of suppliers
  • Power of customers
  • Threat of substitute products

To learn more, check out this comprehensive guide to using Porter's Five Forces .

Strategic Planning Tools Porter's Five Forces

3. Visioning

Visioning is a goal-setting strategy used in strategic planning. It helps your organization develop a vision for the future and the outcomes you'd like to achieve.

Once you reflect on the goals you‘d like to reach within the next five years or more, you and your team can identify the steps you need to take to get where you’d like to be. From there, you can create your strategic plan.

4. PESTLE Analysis

The PESTLE analysis is another strategic planning tool you can use. It stands for:

  • P: Political
  • E: Economic
  • T: Technological
  • E: Environmental

Each of these elements allow an organization to take stock of the business environment they're operating in, which helps them develop a strategy for success. Use a PESTLE Analysis template to help you get started.

Strategic Planning Tools: Pestle

Don't forget to share this post!

Related articles.

S&OP: A Comprehensive Overview of Sales and Operations Planning

S&OP: A Comprehensive Overview of Sales and Operations Planning

A Straightforward Guide to Qualitative Forecasting

A Straightforward Guide to Qualitative Forecasting

4 Clever and Effective Ways to Simplify Your Sales Process From Seasoned Sales Experts

4 Clever and Effective Ways to Simplify Your Sales Process From Seasoned Sales Experts

How to Develop a Strategic Plan for Business Development [Free Template]

How to Develop a Strategic Plan for Business Development [Free Template]

Lead Distribution Methods and Best Practices

Lead Distribution Methods and Best Practices

Lead Routing: How to Precisely Implement and Route Key Prospects

Lead Routing: How to Precisely Implement and Route Key Prospects

The 25 Best Lead Distribution Software in 2022

The 25 Best Lead Distribution Software in 2022

Return on Sales: How to Calculate It and What You Need to Know

Return on Sales: How to Calculate It and What You Need to Know

30 Key Interview Questions and Answers for Sales Operations Role

30 Key Interview Questions and Answers for Sales Operations Role

How Using a Document Library Can Improve Your Sales Process

How Using a Document Library Can Improve Your Sales Process

Plan your business's growth strategy with this free template.

Powerful and easy-to-use sales software that drives productivity, enables customer connection, and supports growing sales orgs

Home > Business > Business Startup

  • 5 Best Business Plan Software and Tools in 2023 for Your Small Business

4.5 out of 5 stars

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change.

Chloe Goodshore

We are committed to sharing unbiased reviews. Some of the links on our site are from our partners who compensate us. Read our editorial guidelines and advertising disclosure .

A business plan can do a lot for your business. It can help you secure investors or other funding. It can give your company direction. It can keep your finances healthy. But, if we’re being honest, it can also be a pain to write.

Luckily, you don’t have to start from scratch or go it alone. Business plan software and services can help you craft a professional business plan, like our top choice LivePlan , which provides templates, guidance, and more.

You’ve got quite a few choices for business plan help, so we’re here to help you narrow things down. Let’s talk about the best business plan tools out there.

  • LivePlan : Best overall
  • BizPlanBuilder : Most user-friendly
  • Wise Business Plans : Best professional service
  • Business Sorter : Best for internal plans
  • GoSmallBiz.com : Most extra features
  • Honorable mentions

Business plan software 101

The takeaway, business plan software faq, compare the best business plan software.

business planning tools

By signing up I agree to the Terms of Use and Privacy Policy .

LivePlan: Best overall business plan software

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. *With annual billing

LivePlan has been our favorite business plan software for a while now, despite the stiff competition.

There’s a lot to like about LivePlan. It has pretty much all the features you could want from your business plan software. LivePlan gives you step-by-step instructions for writing your plan, helps you create financial reports, lets you compare your business’s actual financials to your plan’s goals, and much more. And if you ever need inspiration, it includes hundreds of sample business plans that can guide your writing.

LivePlan software pricing

But the best part? You get all that (and more) at a very competitive price. (You can choose from annual, six-month, or monthly billing.) While LivePlan isn’t quite the cheapest business plan builder out there, it’s not too far off either. And if comes with a 60-day money back guarantee. So there’s no risk in trying LivePlan out for yourself.

With a great balance of features and cost, LivePlan offers the best business plan solution for most businesses.

BizPlanBuilder: Most user-friendly

Need something easy to use? BizPlanBuilder fits the bill.

BizPlanBuilder doesn’t have a flashy, modern user interface―but it does have a very clear, intuitive one. You’ll be able to see your plan’s overall structure at a glance, so you can quickly navigate from your title page to your market trend section to that paragraph on your core values. And as you write, you’ll use a text editor that looks a whole lot like the word processing programs you’re already familiar with.

BizPlanBuilder software pricing

Data effective 3/13/23. At publishing time, amounts, rates, and requirements are current but are subject to change. Offers may not be available in all areas.

BizPlanBuilder also offers lots of helpful guidance for actually writing your plan. It gives you pre-written text, in which you just have to fill in relevant details. It offers explanations for what information you need to include in each section of your plan and way. It even gives you helpful tips from experts, so you’ll have all the information you need to plan like a pro.

So if you want planning software with almost no learning curve, you’ll like BizPlanBuilder.

Wise Business Plans: Best professional service

  • Custom quote

Unlike all the other companies on this list, Wise Business Plans doesn’t offer software. Instead, it offers professional business plan writing services―meaning someone does all the hard work for you.

Now, you might think that sounds expensive―and you’re probably right (you have to request a custom quote for your plan). But there’s a lot to be said for expertise, and Wise Business Plans has plenty of that. Your business plan will get written by an experienced writer (with an MBA, no less). They’ll get information from you, do their own research, and then write your plan. You get one free revision, and you can always pay for more.  

Wise Business Plans service pricing

Your end result will be a polished, entirely original business plan. (You can even get printed copies.) And best of all, you won’t have to spend your precious time working on the plan yourself. Wise Business Plans takes care of all the hard parts, and makes your business look good while doing it. Sounds like a service worth paying for, right?

Put simply, if you want the most professional business plan possible, we recommend using Wise Business Plans’s writing service.

Business Sorter: Best for internal plans

Many businesses need plans to show to people outside the company (to get financing, for example). But what if you just need a plan for internal use? In that case, we suggest Business Sorter.

Business Sorter uses a unique card-based method to help you craft the perfect business plan. (You can watch a demo video to see how it works.) You’ll plan some of the usual things, like finances and marketing. But Business Sorter also lets you make plans for specific teams and team members. It also emphasizes more internal matters, like operations, that might get overlooked in a business plan for outsiders.

Business Sorter software pricing

After you’ve made your business plan, Business Sorter also helps you stay accountable to it. You can create tasks, give them deadlines, and assign them to team members―giving you basic project management tools to make sure your business plans become business actions. (Oh, and did we mention that Business Sorter has the lowest starting prices of any software on this list?)

It all adds up to a business plan software that works great for internal planning.

GoSmallBiz: Most extra features

Want to get way more than just business planning software? Then you probably want GoSmallBiz.

See, GoSmallBiz offers business plan software as part of its service―but it’s just one part of a much bigger whole. You also get everything from discounts on legal services to a website builder to a CRM (customer relationship manager) to business document templates. And more. In other words, you get just about everything you need to get your startup off the ground.

GoSmallBiz software pricing

Don’t worry though―you still get all the business planning help you need. GoSmallBiz gives you business plan templates, step-by-step instructions, and the ability to create financial projections. And if you get stuck, GoSmallBiz will put you in touch with experts who can offer advice.

If you want business planning and much, much more, give GoSmallBiz a try.

  • PlanGuru : Best financial forecasting
  • EnLoop : Cheapest tool for startups

We recommend the software above for most business planning needs. Some businesses, though, might be interested in these more specialized planning software.

Honorable mention software pricing

Planguru: best financial forecasting features.

Plan Guru

PlanGuru is pretty pricey compared to our other picks, but you might find its forecasting features worth paying for. It has more forecasting methods than other software (over 20) plus it lets you forecast up to 10 years.

EnLoop: Cheapest tool for startups

enloop logo

EnLoop doesn’t have our favorite features or interface, but it does have really, really low pricing plus a seven-day free trial. It's the most affordable software for startup business planning and still provides all the essential features like financial analysis, team collaboration, charting, and more.

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. * With annual billing

Several of our previous favorite planning software, including BusinessPlanPro and StratPad, seem to have gone out of business.

A business plan is a written, living document that tells the story of your business and what you plan to do with it. It serves as the source of truth for you—the business owner—as well as potential partners, employees, and investors, but it also serves as a roadmap of what you want your business to be.

Why you need a business plan

While some small-business owners don’t see the point of creating a formal business plan, it can have some concrete benefits for your business. For example, one 2016 study found that business owners with written plans are more successful than those that don’t. 1

Still too vague? Then let’s get specific.

If you ever seek business funding (from, say, banks, angel investors , or venture capitalists ), you’ll have to prove that your business deserves the money you want. A formal business plan―complete with financial data and projections―gives you a professional document you can use to make your case. (In fact, most potential investors will expect you to have a business plan ready.)

Even if you’re not seeking funding right now, a business plan can help your business. A formal plan can guide your business’s direction and decision making. It can keep your business accountable (by, for example, seeing if your business meets the financial projections you included). And a formal plan offers a great way to make sure your team stays on the same page.

What to include in your business plan

Not all business plans are created equal. To make a really useful business plan, you’ll want to include a number of elements:

  • Basic information about your business
  • Your products/services
  • Market and industry analysis
  • What makes your business competitive
  • Strategies and upcoming plans
  • Your team (and your team’s background)
  • Current financial status
  • Financial and market projections
  • Executive summary

Of course, you can include more or fewer elements―whatever makes sense for your business. Just make sure your business plan is comprehensive (but not overwhelming).

How business plan software can help

With so many elements to include, business plan creation can take a while. Business plan software tries to speed things up.

Most business plan software will include prompts for each section. In some cases, you can just fill in your business’s specific information, and the software will write the text for you. In other cases, the software will give you specific guidance and examples, helping you write the text yourself.

Plus, business plan software can help you stay organized. You’ll usually get intuitive menus that let you quickly flip through sections. So rather than endlessly scrolling through a long document in a word processor, you can quickly find your way around your plan. Some software even lets you drag and drop sections to reorganize your plan.

Sounds way easier than just staring at a blank page and trying to start from scratch, right?

Choosing business plan software

To find the right business plan builder for your business, you’ll want to compare features. For example, would you rather write your own text, getting prompts and advice from your software? Or would you rather go with a fill-in-the-blank method?

Likewise, think about the elements you need. If your plan will have a heavy focus on finances, you’ll want to choose business plan software with robust financial projection features. If you care more about market and competitor analysis, look for software that can help with that research.

You may also want to find business plan software that integrates with your business accounting software . Some plan builders will import data from Xero, QuickBooks, etc. to quickly generate your financial data and projections.

And of course, you’ll want to compare prices. After all, you always want to end up with software that fits your business budget.

The right business plan software can make your life easier. With LivePlan ’s wide breadth of features and online learning tools, you can’t go wrong. Plus, BizPlanBuilder 's one-time pricing makes it easy to invest while Business Sorter has a low starting cost. And if you're business is looking to grow, GoSmallBiz and Wise Business Plans will scale with you.

But of course, different companies have different needs. So shop around until you find the software that’s best for you and your business.

Now that you've got a business plan, take a look at our checklist for starting a small business.  It can help you make sure you have everything else you need to get your startup off to a good start!

Related content

  • 7 Steps to Build a Successful Project Management Sales Plan
  • Best Project Management Software and Tools in 2023
  • 4 Cost Management Techniques for Small Businesses

Creating a business plan can take anywhere from a couple hours to several weeks. Your timeline will depend on things like the elements you choose to include, whether you use software or hire a writing service, and how much research goes into your plan.

That said, much of the business plan software out there brags that it can help you create a fairly detailed plan in a few hours. So if you’re going the software route, that can help you set your expectations.

If you want to get the most out of your business plan, you should update it on a regular basis―at least annually. That way, you can continually refer to it to inform your company’s strategies and direction.  

At the very least, you should update your business plan before you start looking for a new round of funding (whether that’s with investors or lenders).

Thanks to business plan software, you can easily write your own business plan rather than pay someone to do it for you. And in most cases, software will cost you less than a professional business plan service.

There are some times you might want to go with a service though. If time is tight, you might find that it’s worth the cost of a service. Or if you’ve got big investor meetings on the horizon, you might want the expertise and polish that a professional service can offer.

Ultimately, you’ll have to decide for yourself whether business plan software or a business plan service will work better for your company.

Methodology

We ranked business plan software and tools based on features, pricing and plans, and connections to project management and other services. The value of each plan and service, along with what it offers, was a big consideration in our rankings, and we looked to see if what was offered was useful to small businesses or just extra. The final thing we looked at was the ease of use of the software to see if it's too complex for small businesses.

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

Sources 1. Harvard Business Review, “ Research: Writing a Business Plan Makes Your Startup More Likely to Succeed .” Accessed March 13, 2023.

payroll software screen on desktop on an abstract background

5202 W Douglas Corrigan Way Salt Lake City, UT 84116

Accounting & Payroll

Point of Sale

Payment Processing

Inventory Management

Human Resources

Other Services

Best Small Business Loans

Best Inventory Management Software

Best Small Business Accounting Software

Best Payroll Software

Best Mobile Credit Card Readers

Best POS Systems

Best Tax Software

Stay updated on the latest products and services anytime anywhere.

By signing up, you agree to our Terms of Use  and  Privacy Policy .

Disclaimer: The information featured in this article is based on our best estimates of pricing, package details, contract stipulations, and service available at the time of writing. All information is subject to change. Pricing will vary based on various factors, including, but not limited to, the customer’s location, package chosen, added features and equipment, the purchaser’s credit score, etc. For the most accurate information, please ask your customer service representative. Clarify all fees and contract details before signing a contract or finalizing your purchase.

Our mission is to help consumers make informed purchase decisions. While we strive to keep our reviews as unbiased as possible, we do receive affiliate compensation through some of our links. This can affect which services appear on our site and where we rank them. Our affiliate compensation allows us to maintain an ad-free website and provide a free service to our readers. For more information, please see our  Privacy Policy Page . |

© Business.org 2023 All Rights Reserved.

Tool graphics

Unlock huge LivePlan savings!

Describe your business to unlock your offer:

New Business Idea

Startup Phase

Established Business

Enter your email address to unlock it.

Please enter a valid email address

We care about your privacy. See our Privacy Policy .

Chase Your Business Dreams With Confidence

Join over 1 million entrepreneurs who plan, fund and grow their companies.

Laptop with LivePlan

Easily think through every aspect of your business — so you’ll be twice as likely to succeed

Woman smiling and options to enhance your writing with LivePlan Assistant

Build your business plan faster and easier with AI

Say goodbye to writer’s block. Ensure your business plan is the best it can be with the AI-Powered LivePlan Assistant.

Get inspired by 550+ sample business plans

Browse hundreds of sample business plans that cover every industry imaginable. This helps you visualize what your completed plan should look like.

Collage of working people

Organize & pitch your ideas

Clarify and vet your ideas in 30 minutes by creating a One-Page Pitch. Then use it to easily explain your business opportunity to investors.

Create financials without clunky spreadsheets

No more complicated formulas. LivePlan guides you through a simple process for building financial forecasts and reports for your business plan.

Net profit forecast with headshot of man smiling

LivePlan has helped over 1 million business owners build better businesses

It’s proven, companies that plan and track against their plan grow 30% faster than those that don’t. No matter your industry, location, or size — LivePlan helps you get your business off the ground and grow

Tailored Coffee Logo

“Trying to open a new business is very time-consuming, and since I was running another business while I was trying to set up Tailored, I didn’t have a lot of time.”

Owner & Founder, Tailored Coffee

Tailored Coffee Owner & Founder, Brian Sung

“It wasn’t my intention to be an entrepreneur or a business person. My intention was to work with dogs. I kind of had to learn the rest of it in order to do what I wanted to do.”

Joanna Stanford

Founder, Trots Dogs

Trots Dogs Founder, Joanna Stanford

“That’s what it does for your business; [using LivePlan] has got us all talking and much more engaged about what we are and what we’re trying to do.”

Owner & Founder, Web Ninja

Web Ninja Owner & Founder, Bruce Carr

“Before LivePlan, I was making decisions that were poorly informed. Now I test everything through my business first, before I take it to my clients.”

Enae Jackson-Atkins

Owner & Founder, Esquire Accounting

Esquire Accounting Owner & Founder, Enae jackson-Atkins

Entrepreneurs & business owners love LivePlan

“I learned more about running my small business from a week of focused work in [LivePlan] than I have from any other single source. It has fundamentally changed the way I view my business ventures”

Capterra Review

“Using LivePlan is easy and there is so much assistance available. There are examples, templates, and videos explaining what to write. [...]. It does the math for you. It creates graphs and charts. It is amazing.”

Shawnnell B

“LivePlan was a great help to design, work out, plan and strategically organize and think about all the ideas that go into developing a new project and business plan [...] Think about it like a coach guiding you through the process.”

Shopper Approved Review

“I’ve been using LivePlan with Xero for a few months now and love it. It’s given me visibility about how we’re doing against Forecast like I’ve never had before...”

Rob Mackley

Xero App Store Review

“Before LivePlan, my team and I had no idea where or how to start [...] It helped us focus on and build every single area of our business strategy and recognize that some aspects of the company needed to be adjusted before we could launch.”

“LivePlan has eased my business planning processes and have provided me with easy access to credit from both banks and investors alike.”

“All businesses require solutions and tools [...] for control of expenses, spreadsheets were always the first option, but since the arrival of LivePlan, all work is easier and more automated.”

Trust Radius Review

“I didn’t have a business plan and using LivePlan helped give me an easy tool to build a strong business plan for myself and clients. My clients have gone on to enhance their plans and grow their businesses.”

Gabriella B

“LivePlan made us feel confident and secure in our numbers and gave us a clear view of our past, present and future!”

“LivePlan provides the balance between stating your vision, the framework to support it, and the numbers.”

Try LivePlan today

Totally risk free. 35-day money-back guarantee.

  • Credit cards
  • View all credit cards
  • Banking guide
  • Loans guide
  • Insurance guide
  • Personal finance
  • View all personal finance
  • Small business
  • View all small business
  • View all taxes

You’re our first priority. Every time.

We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.

So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners .

5 Best Business Plan Software in 2022

Sally Lauckner

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

When you’re starting a business, developing a strong business plan will be one of the first steps you take. Your business plan will cover everything from a detailed explanation of your products or services and pricing model to at least three years of financial projections—plus much more. Therefore, whether you’re not sure how to get started or you’re just looking to make the process easier, you may want to turn to business plan software for help.

In this guide, we'll break down five of the best business plan software options—discussing their pros, cons, features, pricing, and more—so you have all the information you need to decide which solution is right for your small business.

Looking for tools to help grow your business?

Tell us where you're at in your business journey, and we'll direct you to the experience that fits.

on Nerdwallet's secure site

The 5 best business plan software options

The right business plan software will make the process of writing your business plan much simpler. Like many business software solutions, however, there are a number of different business plan software options out there—each of which has a unique set of features, user experience, and price.

This being said, if you're looking for a place to start your search for the best business plan software, you can explore the five top options below:

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

1. LivePlan

Best overall business plan software.

If you want template-rich, modern-feeling business plan software, then LivePlan may be the right pick for you. LivePlan excels with their user interface, which feels updated and slick, and also offers intuitive, easy-to-use features and options.

Their step-by-step instruction will help you kick things off from the beginning, and you can take advantage of their online learning center to continue to gain business skills.

Affordable plans, including pay-as-you-go option

No long-term contracts or cancellation fee; 60-day money-back guarantee

Modern, intuitive interface; cloud-based, can be used on Mac, PC, as well as tablets

Ability to create unlimited plans in one account; over 500 customizable templates

Variety of business resources including video tutorials, step-by-step instruction, and general customer support

Limited integration options

Challenging to enter your own financial modeling projections

Can be difficult to learn

Ability to create an unlimited number of business plans on one account

More than 500 business plan templates spanning various industries

Integration with Xero and QuickBooks Online

Real-time tracking of financial data with accounting integrations

Ability to export your business plan to Word or PDF

Expert advice and step-by-step instruction included

Performance dashboards for tracking against budgets and sales goals

Ability to create and export a one-page pitch executive summary

Annual plan: $15 per month, billed every 12 months

Six-month plan: $18 per month, billed every six months

Pay-as-you-go plan: $20 per month, billed once every month

2. GoSmallBiz

Best for multiple business management tools in one platform.

Next on our list of the best business plan software options is GoSmallBiz, which is much more than just a business plan software. With GoSmallBiz, you have access to business continuity planning software with features that cover creating a roadmap, working through business and legal forms, building a website, and more.

In this way, GoSmallBiz is great for startups or newer businesses looking to access multiple business management tools through one platform.

Unlimited business consultation and extensive library of online resources

Multiple business tools in one software

Website consultation analysis and business assessment

Industry-specific business plan templates with emphasis on financial projections and statements

Expensive monthly cost compared to alternatives

Limited business plan features

Entire business plan can only be exported to Microsoft Word

Outdated interface

Industry-specific business plan templates with step-by-step building wizard

Ability to create financial statements and projections

Free website hosting and website builder

Customer relationship manager with integration with MailChimp

Digital marketing dashboard with social media and Google Analytics integrations

HR document builder

Corporate minutes writer

Business documents library

Business courses library

Unlimited business consultation

$39 per month, no contracts, free cancellation

Best for simple, fast business plan creation.

If you're looking for free business plan software, Enloop will be one of your closest options—they offer an all-inclusive seven-day free trial, no credit card required. Additionally, unlike some of the other options on our list, Enloop is strictly dedicated to business plan creation, including automated text writing, financial forecast comparisons, and a real-time performance score that tracks your progress.

This being said, if you'd prefer the most straightforward, fast, and simple way to write your business plan, Enloop will be a platform worth considering.

Simple and straightforward software, solely dedicated to business plan creation

Seven-day free trial

Automatic text generation available to streamline the writing process

Affordable plans with annual discount option

Limited additional educational resources

Only one template option

No integration options

Ability to create three business plans with customizable text, images, tables, charts, and over 100 currency symbols and formats

Includes automatic text generation for each plan section that you can then customize

Automatically generated financial statements

Includes financial performance comparison analysis (using three ratios with Detailed plan and 16 with Performance plan)

Real-time performance score to track your progress

Ability to invite users to edit (two with Detailed plan, five with Performance plan)

Pass/fail report and certificate to help you identify issues with your plan

Free plan: Seven-day free trial with no credit card required

Detailed plan: $19.95 per month or $11 per month, paid annually

Performance plan: $39.95 per month, or $24 per month, paid annually

Best for startups looking to acquire funding or find investors.

Part of the Startups.com suite, Bizplan gets top marks for their user interface—it’s intuitive, easy to use, and modern. You’ll work with a step-by-step business plan builder to get exactly what you’d like from your business plan. It may remind you of a modern website builder, since it has drag-and-drop tools to build templates.

Moreover, for one subscription fee, you have access to all of the tools in the Startups.com network, including self-guided courses, how-to guides, masterclass videos, and more. All in all, with a direct connection to Fundable, Bizplan is a top business plan software option for startups looking to acquire funding and find investors.

Subscription gives you access to all Startups.com tools

Lifetime access subscription option

User-friendly drag-and-drop business plan builder

Excellent educational resources

Connection to Fundable great for businesses looking for capital

No free trial

No templates based on industry

No mobile access

Drag-and-drop templates for business plan building

Financial command center to track all business financials in one place

Unlimited account collaborators

Ability to share business plan online with investors

Online resources including self-guided courses, masterclass videos, how-to guides, mentorship access

Unlimited software use for Fundable, Launchrock, and Startups.com

Monthly plan: $29 per month

Annual plan: $20.75 per month, billed at $249 per year

Lifetime access: $349 one-time fee

5. PlanGuru

Best for financial planning and budgeting.

Finally, for some of the strongest financial features among business plan software options, including budgeting and forecasting, you might check out PlanGuru. Whereas the other solutions we've reviewed were first and foremost focused on writing a business plan, PlanGuru is dedicated to business financial planning —providing the tools you need to create budgets, financial forecasts, reports, and more.

Therefore, if you need a software solution that can streamline the financial piece of your business planning processes, PlanGuru will certainly have the most to offer.

Extensive financial tools and detailed forecasting, budgeting, and reporting capabilities

Substantial library of resources

Cloud-based and desktop options

14-day free trial and 30-day money-back guarantee

Expensive, especially for additional users

Only focuses on the financial aspect of business planning; no templates or tools for basic business plan writing

Difficult to use without prior financial knowledge

Cloud-based version of software, as well as locally installed Windows version (desktop version has a few more features)

Works with QuickBooks Online, Xero, and Excel

Budgeting and forecasting for up to 10 years

Over 20 standard forecasting methods

Formula builder to create custom methods

Ratios and KPIs

Dashboard and reporting tools

Help guides, video tutorials, knowledgebase, and live U.S.-based customer support

14-day free trial

$99 per month (additional users $29 per month)

$899 per year (additional users $299 per year)

What to look for in business plan software

Ultimately, it's up to you to decide, which, if any, of the best business plan software solutions on our list is right for your business.

So, if you're trying to figure out how to choose between the various options out there, it might be helpful to compare your top choices based on the following criteria:

Features: As we've seen different business plan software solutions offer different features. You'll want to look carefully at the feature list of any software and determine what features are most important for your business needs. Do you need an extensive library of templates with detailed customization? Would you prefer software that includes an online learning center for business skills? Are you looking for a solution that combines business plan writing with other tasks? It may be useful to list out your ideal feature set, so you can compare individual software plans to that list.

Price: Although you might be able to find some free business plan software options (or at the very least, free trials), in most cases, you'll need to pay a subscription fee to access the platform you choose. Therefore, you'll want to think about what your budget is for this business tool and what type of software is most cost-effective for your needs.

User experience: User experience can vary widely among different business plan software options. You’ll find some programs that are newer or have been recently updated. Others might have the kind of interfaces that felt new years ago but are now pretty out of date—and, subsequently, make them a little harder to use. The right user experience for your needs is genuinely a matter of opinion and comfort—nevertheless, it's worth testing thoroughly testing out a platform to ensure that it can truly work for you before investing in a monthly or annual subscription.

The bottom line

There's no doubt that properly crafting your business plan is important for the future growth and success of your small business. Luckily, the right business plan software should make the process much simpler.

This being said, whether you opt for one of the best business plan software options listed here, or another platform entirely, you'll want to take the time to compare multiple solutions and ensure you choose the one that's right for your business.

As we mentioned, it can be helpful to think about the features you're looking for, your budget, and your user-experience preferences ahead of time—that way, you'll have a set of criteria in mind as you explore different solutions.

Ultimately, perhaps the best thing you can do to find the right software is to actually test out the platforms themselves—either by using a free trial or a money-back guarantee.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

On a similar note...

  • Search Search Please fill out this field.
  • Building Your Business
  • Becoming an Owner
  • Business Plans

14 Exceptionally Useful Tools for Writing a Business Plan

Alyssa Gregory is an entrepreneur, writer, and marketer with 20 years of experience in the business world. She is the founder of the Small Business Bonfire, a community for entrepreneurs, and has authored more than 2,500 articles for The Balance and other popular small business websites.

business planning tools

Writing a business plan is a necessary part of starting a business, yet many small business owners struggle with the process. Not only can it be time-consuming and stressful to conduct the necessary research and gather the required materials, but it can also be difficult to know exactly what format your business plan should be in and what information it should include.

To help you streamline the process, here are 14 tools you can use to get started with your business plan.

Online Tools

This set of online tools walks you through each section of a traditional business plan in a step-by-step format.

  • SBA's Build Your Business Plan Tool - The SBA's Business Plan Tool is a step-by-step guide that allows you to save your progress and come back to it for up to six months.
  • Enloop - With this tool, you add in your information, and Enloop automatically writes your plan based on your details.
  • LivePlan - LivePlan is an online service that simplifies the business planning process while providing assistance with budgeting, forecasting, and performance tracking.
  • RocketLawyer - Business owners can create a customized, printable business plan with RocketLawyer by following an online step-by-step interview process.
  • StratPad - StratPad's step-by-step approach and cloud-based business planning software help small business owners create a plan in less than a day.

Business Plan Tutorials

These five business planning how-to documents will help you get your business plan started.

  • How to Write a Simple Business Plan - An easy 8-step business plan tutorial that results in a streamlined and brief business plan that you can use as-is or as a starting point for a more traditional business plan.
  • SBA's Video Business Planning Tutorial - This series of video tutorials includes nine videos that are about 2-10 minutes each. You can pick and choose where to start or run through them in the original order.
  • Entrepreneur's Elements of a Business Plan - An in-depth review of the seven essential sections of a business plan: what you should include, what you shouldn't include, how to work the numbers and additional resources you can turn to for help.
  • Comprehensive Business Plan Outline - A business plan outline that walks you through each section of a basic business plan, including an overview of what should be included, examples and tips for writing each section of your business plan effectively.
  • Shopify's Ultimate Guide to Business Plans - This comprehensive 9-chapter business plan guide covers every important aspect of writing a business plan.

Business Plan Templates

If you prefer more of a "fill-in-the-blank" format to get your business plan started, one of these templates may be exactly what you need.

  • SCORE Business Planning Templates - A collection of business planning templates that are for both new and established businesses.
  • BPlans' Business Plan Template - A downloadable template that gives you a clear idea of what a traditional business plan should look like. (Free sign-up is required to download.)
  • The $100 Startup One-Page Business Plan - Download and fill in the blanks with this one-page business plan template.
  • Office Depot's Business Plan Templates - These templates include the most important elements of a business plan that demonstrate how the nature of a business and the target audience for the plan impact the content.

Keep in mind that the best business plans are those that are updated and regularly used as a way to keep your business on track. Whichever tool you use, make it a goal to create a plan that you can use as an action document and can grow with your business over time.

7 Best Business Plan Software for Startups in 2024

Businessman and businesswoman next to a graphic that says "Top 7 Planning Software Tools".

  • Resources for Planning a Business
  • Best Business Plan Software

Last Updated: January 23, 2024 By TRUiC Team

Launching a new startup is an exciting yet challenging endeavor. Crafting a comprehensive business plan is a critical first step for any founder to outline their vision, objectives, and strategy. It acts as a roadmap to help guide important decisions and next steps as a company grows.

With so many options available, finding the right business planning tool can be daunting. The best software should be affordable, user-friendly, and offer a robust set of features to aid in financial modeling, strategic planning, and more.

In this review, we'll explore some of the top business plan software solutions designed specifically for entrepreneurs. We'll compare capabilities, ease of use, templates and resources, integrations, pricing, and more. Whether you’re looking to create an investor-ready plan or simply organize your strategy, choosing the right tool can help you get started on the right foot.

Best Business Plan Software for Startups: LivePlan

Top Business Plan Software Solutions

In this review, we'll look at seven of the best business plan software platforms — discussing their pros, cons, features, pricing, and more — so you can decide which one is right for your startup.

Best Business Plan Software for Startups 2024:

  • LivePlan - Best Overall
  • Bizplan - Easiest to Use
  • Enloop - Best Automation Features
  • PlanGuru - Best Financial Forecasting
  • IdeaBuddy - Best for Idea Validation
  • iPlanner - Best for Nonprofits
  • Wise Business Plans - Best Professional Services

The following tools all have their own great features. Based on its affordable pricing and usability, LivePlan is our top business plan software choice for startups.

Try LivePlan today or continue reading to explore your options!

Best Business Plan Software: LivePlan

LivePlan is the overall best business plan tool, offering a large number of features at an affordable price.

Visit LivePlan

1. LivePlan - $15/month to $30/month

We love LivePlan overall because it offers great value at an affordable cost. The software lets you quickly create a business plan from anywhere in the world using what is arguably the best business plan software available on the market. It does everything better than its competition and costs way less.

What’s more, the online “cloud-based” platform is easy to use and you are under no contract or obligation to keep paying for the service. Even better, if you decide to stop service for whatever reason, Palo Alto Software, the makers of LivePlan, will keep your account active and data preserved for at least a year should you decide to reactivate your account later.

  • Create an unlimited number of business plans
  • A forecast feature for those less mathematically inclined. Plug in data, and it will generate charts, graphs, figures, and even the profit and loss, balance sheet, and cash flow statements
  • 500+ business plan templates spanning all major industries
  • Real-time financial data tracking
  • Performance dashboards track sales and budgeting
  • Create one-page pitch plans for potential investors
  • Milestone scheduling feature — Some people will use it when working with others on their plan; it will let you assign milestones to people.
  • Low-cost annual plans
  • Affordable pay-as-you-go plans
  • No cancellation fees
  • Data saved for 12-months, even after cancellation
  • Clean, modern platform
  • Cloud-based; works on any business machine (Linus, Windows, Mac)
  • Integrates with Quickbooks and Xero to import your data easily
  • Knowledgeable customer support to get help with your plan
  • No valuation capabilities
  • Templates built on Palo Alto Software’s earlier software Business Plan Pro require some modifications to be used on LivePlan

Insider Information

Talking to the nice people at LivePlan we learned some inside information that we wanted to share with our readers.

Here's what we learned:

  • LivePlan has been used by contestants on ABC's hit show "Shark Tank" to win over angel investors to help them get their ideas and businesses funded.
  • Accountants use LivePlan as an added-value service to sell to their clients.
  • Businesses continue using LivePlan because of a feature called “Dashboard” which lets you manually enter your actuals or pull actuals from Quickbooks online to do comparative forecasting and analysis.
  • LivePlan helps with business continuity planning (BCP).
  • LivePlan executives use LivePlan to make important business decisions.
  • "Dashboard" does profit and loss, cash flow, and balance sheet reports and lets you compare and contrast your actuals from your forecasts to be able to show to investors.
  • LivePlan lets you create business plans in 1/5th the time it takes using templates.

Customer Reviews

LivePlan receives great feedback from customers. LivePlan reviews average 4.5 stars out of 5 on GetApp. LivePlan is an easy company for us to recommend for the best business plan software.

Image of the company logo.

2. Bizplan - $29/month, $249/year, $349 lifetime

Bizplan rates high on our list because they offer a lifetime plan that gets you "forever access" to their business plan software. As an added bonus, you also receive free access to Startup Courses and LaunchRock, a landing page builder.

  • Easy, "fill-in-the-blanks" plan builder
  • Publish your business plan online
  • Unlimited business plans
  • Bizplan takes care of the financials
  • Cloud-based (use any browser on any computer)
  • Options to add more graphics and photos
  • Low-cost yearly plans
  • Create unlimited business plans
  • Xero to import your data easily
  • Excellent and responsive customer support (email/chat/phone)
  • Free access to Startup.com and LaunchRock.com
  • Discount at Fundable.com (connect with lenders and investors)
  • Can't export in Word
  • Doesn't currently integrate with QuickBooks
  • No free trial
  • No third-party app integrations

Talking with BizPlan insiders, we learned that the premise behind BizPlan is to help startups easily create professional business plans to give them a leg-up with lenders and investors.

Here's what else we learned:

  • BizPlan's does all your financial calculations for you.
  • BizPlan strives to be an all-in-one solution for Startups needing funding.
  • BizPlan is constantly making improvements to its software.

BizPlan receives great feedback from customers. BizPlan reviews average 4.4 stars out of 5 on GetApp. Still a relatively new option, BizPlan already has over 30,000 satisfied customers. As their platform grows, we wouldn’t be surprised to see them integrate even more valuable features. Keep a close eye on this one.

Image of the company logo.

3. Enloop - Free to $39.95/month

If you’re looking to try before you buy, Enloop is a strong choice as one of the only business planning software tools with a free trial.

  • User-friendly platform
  • Compare your financials against your industry's performance
  • Bank ready financial statements (Profit and Loss, Balance Sheet, Cash flow)
  • Lets multiple team members work on a business plan
  • 36-Month detailed financial reports
  • Sync date and text into your business plan
  • Real-time performance rating
  • Generated business plan Pass/Fail report
  • Multiple currency formatting
  • Seven-day free trial (no credit card required)
  • Advanced financial ratios
  • Financial projections
  • Video tutorials to help you with the writing process
  • No phone or chat support, just a "contact us" form.
  • Three business plan limit per account
  • Doesn't integrate with QuickBooks or Xero
  • No financial forecasts beyond 36-months
  • No 30-day money-back guarantee

We learned that the premise behind Enloop is to make business planning easier for entrepreneurs. Enloop achieves this by making software simple to navigate through and takes risks off the table with their no credit card needed seven-day free trial. Their business plan creation software offers financial forecasting features for up to 36 months.

  • Enloop utilizes 16 financial ratios to get your business ready for investors.
  • Enloop offers some sample business plans that are easy to modify.
  • Enloop's performance score increases as you create your detailed plan.
  • A new business or small businesses benefit the most from Enloop's solutions.

Enloop receives fair feedback from customers. Enloop's reviews average 3 stars out of 5 on PCMag. Enloop's main complaint is its lack of instructional text for writing mission statements and other key sections. What they rank high on is their efficiency and the speed at which the software lets you write a business plan.

Even beyond the free version, Enloop Basic is just $9.95/month ($6/month when paid annually), so they’re one of the least expensive tools for writing a business plan.

Image of the company logo.

4. PlanGuru - $99/month to $299/month

PlanGuru is a good option if you’re looking for considerably more robust software that offers quite a bit more. The most notable feature we like is the valuation tool, only present on the desktop version of the software. PlanGuru lets you calculate the valuation of your business using three different methods. No other business plan software offers this that we know of.

PlanGuru also offers budgeting, forecasting, and performance tools to help you put together a business plan. In the main, PlanGuru allows you to get a custom-tailored three financial statement budget model up and running out of QuickBooks or Xero in a matter of minutes. PlanGuru's business plan writing software takes you through a setup process where it asks you questions such as:

  • What's the first month of your fiscal year?
  • How many historical years do you want to import?

And, once you answer these questions, PlanGuru then generates a model for you that you can then populate with your historical data if you have it. Then you can go through PlanGuru's 20+ projection methods.

Some financial data projection methods include:

  • Expenses, like payroll, etc.
  • Balance sheet items, like accounts receivable, accounts payable, crude expenses, prepaid expenses, loans, etc.

These are only a few of the features the business plan software offers. Here are some more.

  • Budgeting/Forecasting Software
  • Analytics Service for Financial Performance & KPIs
  • Valuation calculations (desktop software only)
  • Desktop and cloud-based options
  • Free 14-day trial and 30-day money-back guarantee
  • Great customer support and knowledgeable sales staff
  • Lower-cost yearly plans offered
  • Advanced financial calculations
  • Business valuation calculations
  • No contracts
  • Integrates with QuickBooks and Xero
  • Costlier than LivePlan and most other business plan software options
  • Additional cost per user can add up quickly

The great thing about PlanGuru is that the only thing you have to worry about is the income statement and balance sheet projections because the cash flow statement is automatically generated.

Then once you have the cash flow statement, income statement, and balance sheet in place, you can then lock down the budget.

  • PlanGuru's desktop version has three different types of valuation methods that calculate the worth of your business.
  • PlanGuru has some really nice reporting tools that pull together your financial statements into table formats, say, for the bank, line-by-line.
  • PlanGuru also has some nice charts, graphs, scorecards, and some easily digestible reports that can help you visualize how your company is performing.
  • Exports to Excel, PDF, and Word documents --and, there's even a tool that lets you create customized reports.
  • You can print your plan off too to show partners, lenders, and investors.
  • PlanGuru now offers a cloud-based version of its software, though it will take some time to catch up to the rich features offered by the current desktop software version.
  • With PlanGuru you also get free updates, bug fixes, and new releases as they become available.

Important Note: These tools are important because investors may want to see not only historical performance but also projections.

Image of the company logo.

5. IdeaBuddy - Free to $35/month

IdeaBuddy makes our list because of what's behind their approach. IdeaBuddy focuses on helping entrepreneurs develop their idea first, then share it, and then refine it into a plan. If you have a business idea and don't know what to do next, IdeaBuddy could be what you're looking for in a business plan software.

  • Single-page business plan pitch (Idea plan)
  • Clean modern design platform combined with great financial tools
  • Marketing plan for selling and promoting your products
  • Market overview plan where you create targeted customer profiles, identify your competition and calculate the market potential
  • Business plan creation that includes forecasting performance and cash flow projections
  • A proprietary algorithm calculates a final score for your idea providing recommendations for improvement after you complete "Story Mode"
  • Idea Journal, that is an internal business plan for you to show potential investors
  • A lifetime plan costs only $178
  • Great for developing ideas
  • Great for doing market research
  • Pay-as-you-go plans offered
  • Email-only customer service
  • Software lag time issues
  • Fewer software options than most other small business options

IdeaBuddy has some great features that are fantastic from idea conceptualization down to cost projections and the laying out of steps to take to start a business. We would have liked, however, to been given more KPIs that would notify us of tasks, help with idea validation, and help us measure other objectives to better monitor the health of our business. Another thing lacking was the design of the finished plan--it contained some noticeable structural issues.

IdeaBuddy has received some outstanding customer reviews on GetApp. IdeaBuddy has earned a 4.6-star rating out of 5 possible stars.

Image of the company logo.

6. iPlanner - Starts at $55/year

iPlanner is a comprehensive business plan software that has been aiding entrepreneurs since 2007, providing a robust framework for developing business plans, models, and financial forecasts online.

  • Unlimited Team Members & Collaboration
  • A La Carte Pricing Model vs Packages
  • Discounts for Serial Entrepreneurs & Business Coaches
  • Solid amount of industry knowledge and experience.
  • They've got two trademarked business planning services, Startup Framework™ and Strategy Designer™
  • All of their business planning packages allow you to have unlimited collaborators and assign people three different roles: Project Owners, Advisors, and Viewers.
  •  Their Startup Framework software has a business modeling section where you can design a business model canvas and strategize as much as you need before diving into your plan.
  • Doesn't have a month-to-month option for either of their services. Their Strategy Designer is payable only annually, while their Startup Framework is available for 3-month, 6-month, or 12-month payments.
  • They don't offer refunds
  •  Their website is pretty old school and tough to navigate.
  •  Unlike other business planning software, iPlanner doesn't offer a free version or trial. However, you can take a tour of their Startup Framework software or view a demo of the Strategy Designer to get a feel for them.

iPlanner's Business Planning Software

If a simple framework is all you're looking for, iPlanner can help you out. They don't have many bells and whistles, but at these price points, they offer a good value for nonprofits and corporations.

Image of the company logo.

7. Wise Business Plans - Pricing by Request

Wise business plans website is a little confusing to navigate, and pricing is by request only, which can get frustrating. They do have a lot of options for different kinds of business plans for various types of business types, which makes them versatile. They also have business building and funding options as well. And, if you wish to establish business credit, they offer net-30 accounts that get reported to Equifax business.

  • Claim to be the only business plan company to write for Fortune 100 and 500 companies
  • Business formation services
  • Business license searches
  • EIN services
  • Digital marketing services
  • Business website design and branding
  • Has a lot of helpful information
  • Helpful options for forming your business
  • Options to help after you start your business
  • Helps small businesses establish business credit
  • Not an actual business plan software
  • Expensive by comparison
  • Website is difficult to navigate
  • Pricing is by request only
  • Limited products and features
  • Turnaround is one month
  • Requires some work on your end

Image of the company logo.

Business Plan Software Pros and Cons

  • By using business plan software providers, you’ll be able to create a solid outline for your business. Although some of the options above are better than others, each will walk you through from start to finish.
  • No matter how you look at it, business plan software is cost-effective. As long as you actually use the tool, you’ll generate significantly more value than you’re spending on monthly subscription fees.
  • If you spend the time to create a solid plan, you’re much more likely to hold yourself accountable. Think of planning software like an accountability buddy for entrepreneurship.
  • Your business plan tool will help set realistic financial goals, and most can also keep your bottom line in check by integrating your accounting software.
  • Business planning software enables you to collaborate with partners, mentors and investors.
  • Some of the business plan tools don’t offer support and can have slightly buggy features. That said, if you’re serious about writing a solid plan, go with a tool that’s constantly updated and well made.
  • Although some business plan tools have a collaboration feature, none of them can review it when you’re done. All business planning tools lack a human touch.

How to Choose the Right Business Plan Software

With the array of business planning tools available, it can be daunting to select the right one for your needs. Here are some tips for choosing a business plan software solution:

  • Consider your skill level – Opt for software like a wizard-guided template if you are less experienced in writing plans. Choose more advanced software with greater flexibility once you know what you are doing. Look for drag-and-drop tools to easily organize sections.
  • Determine your budget – Prices range from free to several hundred dollars. Know how much you can spend before shopping.
  • Compare features – Look for software with the specific tools you need, like financial projections, sample text, customizable templates, and more.
  • Evaluate the financial tool capabilities – The software should provide extensive financial tools like forecasting, modeling, projections, and dashboards to streamline financial planning.
  • Check reviews and ratings – Get feedback from other users about their experience with the software. High reviews indicate easier, more user-friendly software.

Which Is the Best Business Plan Software?

You know the unique requirements of your startup better than we do. These are all quality services that offer business planning software tools for entrepreneurs like you. Feel free to read over our full reviews if you’d like to know more about any of them or even visit the websites directly.

In general, we do prefer LivePlan because they have a huge library of business plan templates, and we love their convenient dashboard. They're the planning software that is most likely to help you via customer support, continue updating their tool, and figure out ways to make your business experience better. Enjoy!

What is the purpose of a business plan?

The purpose of a business plan is to provide a structured outline and roadmap for a business's goals, strategies, and operations. It serves as a guide for decision-making, resource allocation, and management. 

Furthermore, it can be a crucial tool for attracting investors, securing loans, and ensuring that all stakeholders have a clear understanding of the business's direction and objectives.

What does business plan software do?

Business plan software assists entrepreneurs and businesses in creating, organizing, and refining their business plans. It provides tools, templates, and guidance to streamline the planning process. 

Features often include financial forecasting, market analysis, visual aids like charts and graphs, collaboration capabilities, and even integration with other business tools. This software aims to simplify the task of creating a thorough and professional business plan.

How do you write a business plan?

To write a business plan, start by writing an executive summary that provides an overview of your business idea, products/services, market opportunity, and projected growth. Outline your company description, industry analysis, target customers, competitive advantage, marketing and sales plans, operations, management team, and financial projections.

How long should a business plan be?

The length can vary based on the complexity of the business, its stage, and its intended audience. In general, it might range from 15-50 pages. However, the key is to ensure that the plan is comprehensive yet concise. 

For many situations, especially when seeking investment, a more detailed one is preferable. Yet, for internal purposes or for businesses at very early stages, a shorter, more concise plan might suffice.

Are there business plan templates on Word?

Yes, Microsoft Word has business plan templates you can download and customize. The templates provide section headings, instructions, sample text, and tables to input your specific business information.

What is Palo Alto Software?

Palo Alto Software is a company that's been around since the late 1980s. They created business management software for startups and existing businesses. The software has since been updated and rebranded as LivePlan and today happens to be one of the most sought-after business plan software available in the marketplace.

Individual Business Plan Reviews

Featured articles.

https://startupsavant.comTwo business people planning on a whiteboard.

What Is a Business Plan?

https://startupsavant.comBusinesswoman writing notes at her computer.

Lean Startup Business Plan Guide

https://startupsavant.comBusinesswoman at computer.

How to Write a Business Plan

Learn to Build a Better Business Plan

Browse sample plans

Sample Business Plan Gallery

Browse our library of over 550 free business plan examples to kickstart your own plan.

Browse our library of over 550 free business plan examples.

Write your business plan

How to Write a Business Plan

Step-by-step guide to establish the foundation of your business quickly and efficiently.

Step-by-step guide to establish the foundation of your business.

Write your business plan

Business Plan Template

Build your business using the proven planning template designed by the experts at Bplans.

Use the planning template designed by the experts at Bplans.

Business plan template

Subscribe to Bplans business insights

Stay up to date with the latest business planning, management, growth, and funding trends from bplans..

We care about your privacy. See our Privacy Policy .

Popular Downloads

SWOT analysis

SWOT Analysis

Easily evaluate your competitive position and develop effective growth strategies.

Refine your competitive strategy using a SWOT analysis.

Cash flow

Cash Flow Forecast

Improve the health of your business by easily estimating your business’s financial future.

Estimate and improve the financial health of your business.

Lean business plan

Lean Business Plan Template

Fast, simple, and shareable. Start with a one-page plan to grow alongside your business.

Start with a simple one-page plan to grow alongside your business…

Start Your Business

How Much Should You Personally Cover for Startup Costs?

How Much Should You Personally Cover for Startup Costs?

How much money should you use from savings to cover startup costs for your business? Here's how to c…

How much money should you use from savings to cover startup costs…

14 Tips for Starting a Successful Business

14 Tips for Starting a Successful Business

Are you starting a business? You’ll need more than a good idea. Check out these expert-driven tips…

Are you starting a business? You’ll need more than a good idea.…

What is a Solopreneur? 6 Key Differences From Entrepreneurs

What is a Solopreneur? 6 Key Differences From Entrepreneurs

Want to start a business on your own? Learn what it means to be a solopreneur, how it differs from e…

Want to start a business on your own? Learn what it means to be a…

7 Steps to Successfully Start a Business With No Money

7 Steps to Successfully Start a Business With No Money

Is it possible to start a business with no money? Check out this proven process to get your business…

Is it possible to start a business with no money? Check out this …

Write Your Business Plan

Business planning

Business Planning in Under an Hour

Learn how to write your business plan in under an hour.

Business plan template

1-Page Business Plan Template

A faster, more efficient way to develop your business strategy.

Perfect Your Elevator Pitch

Pitch guide

Pitch Guide

Learn how to create a winning elevator pitch deck and speech that will impress investors.

Impress investors with a winning pitch deck and elevator pitch.

Elevator pitch

Elements of the Elevator Pitch

If you're pitching to investors or building a pitch deck, here are the 7 things you need.

Here are the 7 things you need to include in your elevator pitch.

Pitch deck

Investor-Ready Pitch Gallery

Explore our gallery of sample pitch decks, including a curated collection of startup pitches like Ub…

Explore our gallery of sample pitch decks, including a curated co…

Investor pitch

Investor Pitch Template

Start your pitch off right with a proven pitch deck template.

Get Your Business Funded

Funding guide

Funding Guide

Learn how to prepare your business plan and pitch to secure funding for your business.

Prepare your plan and pitch to secure funding for your business.

Fund your business

Ways to Fund Your Business

When it comes to funding, there isn't a one-size-fits-all method. Here are your options.

Find out what funding options are available for your business.

Grow Your Business

15 Ways to Use and Get Incredible Value From a Business Plan

15 Ways to Use and Get Incredible Value From a Business Plan

Learn about the many ways you can use your business plan to successfully start, manage, grow, and fu…

Learn about the many ways you can use your business plan to succe…

What is CRM? Customer Relationship Management Explained

What is CRM? Customer Relationship Management Explained

What is a customer management system and is it right for your business? Learn everything you need to…

What is a customer management system and is it right for your bus…

How To Make Remote Meetings More Worthwhile

How To Make Remote Meetings More Worthwhile

Are you struggling to manage your remote teams during meetings? Here are 6 effective methods to help…

Are you struggling to manage your remote teams during meetings? H…

3 Habits for Managing and Coaching High Performing Teams

3 Habits for Managing and Coaching High Performing Teams

High-performance coaching marries the best of management and coaching practices for the benefit of t…

High-performance coaching marries the best of management and coac…

Tim Berry blog

Tim Berry Blog

Learn from renowned business planning expert and founder of Bplans, Tim Berry.

Tim Berry blog

Bplans Blog

Check out the latest business planning insights from the Bplans Blog.

Bplans blog

Discover the world’s #1 plan building software

business planning tools

Best business plan software of 2024

For planning your business finance

  • The best business plan software in full

Best overall

Best budget, best established, best for speed, other business plan software to consider.

  • How we test

The best business plan software makes it simple and easy to plan your business finances in order to present them to a bank or investors.

The best business plan software of 2024 in full 1. Best overall 2. Best budget 3. Best basic 4. Best established 5. Best for speed 6. Other business plan software to consider 7. FAQs 8. How we test

The whole point of a business plan is that it allows you to evaluate your strengths and weaknesses, not least via your Unique Selling Point (USP) ,and make product or service comparisons with competitors.

Of course, even the best business plan relies on estimates and guesstimates, as it's impossible to predict market changes, developments, and future performance under such conditions. 

Ultimately, though, a business plan will demonstratively prove why your business is a solid enough investment to risk putting money into, and shows that you have properly and thoroughly researched your market, and details the real potential of a new business opportunities.

Here then are the best business plan software providers currently available.

You can also look at our featured best free software for small business .

The best business plan software in full:

Reasons to buy, reasons to avoid.

Bizplan is the online business planning tool that claims usage of 30,000 startup founders from the Startups.co platform. They use a guided creator that can break the big project down into the component pieces that get tracked with a Progress Tracker, and expert guidance each step of the way including templates that can be dropped in, and completed, along with simple integration of visuals along the way.

Additional resources are also provided via the Bizplan Academy, with lessons on relevant topics, for example, “Building a Brand: How to Tell a Powerful Brand Story,” and “Critical Path Your Way to Higher Revenues,” among the many offerings. Those that need even more assistance also can take advantage of an expert consultation from a financial expert.

2. PlanGuru

PlanGuru is a comprehensive, and powerful software package in the business planning space. Education is provided via a series of case studies at their PlanGuru University and a whole slew of video tutorials.

The feature set includes flexible budgeting that can handle a simple small business, or a larger multi-department operating budget, and financial forecasting that uses multiple methods, including intelligent and turn-key methods - twenty methods in total. Historical results can also be imported with the general ledger import utility which can then applied to produce a rolling forecast. They also offer PlanGuru Launch, a service to bring in expertise and is charged per hour of assistance.

A significant downside is Planguru charges a higher cost than other software options. The cheapest option is around $75 per month for one business entity when billed annually. While there is no free trial, PlanGuru does offer a 30 day money back guarantee. 

Our expert review:

Enloop is a great choice for business planning software for the cash strapped business as it is the rare offering that has a free tier. Step up up to the next tier, and this is no barebones product, as it has over 100 currency symbols, can automatically generate bank-ready financial reports, and even has automated text writing that can sync with financial data to turn it into text. There is also a real time performance score assigned, that dynamically changes as the business plan is strengthened.  

The plans start with the Free tier, which is limited to a single business plan with simple text, no images, and does not offer any advanced features. The next plan up is the Detailed plan, that supports three business plans, and offers a significant 55% discount when paid annually, making it even better value. This plan costs around $20 per month. For a more comprehensive package you can buy the Performance plan costing around $40 per month.

Read our full Enloop business plan software review .

4. LivePlan

LivePlan is business planning software that offers a simple pricing scheme as there is only a single plan to choose from. As they have a 15+ year track record, they offer a clean and simple interface, that can create business plans that look like they were done by an expert consultant, and the software includes a live dashboard that can track day-to-day performance. Those with writer’s block will benefit from the over 500 included sample plans that can be turned to for inspiration.  

Rather than complicate things with too many tiers to choose from, LivePlan only has a single plan which can be paid for monthly or annually.

5. Business Sorter

Business Sorter promises to simplify and speed up business planning and claims to be able to flesh out a plan in an hour or two, via a novel 273 card sort system that covers many common situations.

The ability to reword cards is included, or also to add cards to the already expansive deck, so no worries if there is not a pre-made card for your situation. Unlike some sites that have videos, the educational resources here are provided as PDFs and Word files, which can be quicker to access, but harder to follow for some learners. 

The lowest tier plan, Basic is fully featured, and includes up to three team leaders. 

Read our full Business Sorter review .

We've only covered some of the most popular business plan software platforms out there, but there are a number of other notables worth mentioning, plus a wide variety of providers of business plan templates. Below we'll briefly cover a range of some of the additional options out there that are worth considering to get your business plan right.

Go Business Plans is more of a consultancy than a software solution, but is worth mentioning for the simple fact that it's one of America's biggest business plan companies. While software might be able to do the job for you, if you're looking for significant funding, it's probably useful to get some professional advice, not least in terms of strategic planning, feasibility studies, and financial projections to ensure you have a solid base for your business plan.

Wise Business Plans provides a very wide range of templates to work from in constructing a business plan. These are particularly designed with funding in mind, no matter what kind of business you run. What is especially helpful is that Wise doesn’t simply deal with business plan templates for a diverse range of business types, the company also provides plan templates for franchises and non-profits.

Plan Writers  is another bespoke service that essentially listens to what you want and then puts the plan together for you. Again, this technically falls outside of business plan "software", but the chances are you'll use a software package as a platform to build from, and Plan Writers can then help you build up from that base.

Bplans is another provider of business plan templates, but goes beyond that with additional pitch and SWOT analysis templates. There are also business plan guides, industry reports, and a free course on writing a business plan. Bplans also publishes a lot of free-to-use articles on business planning, financials, and tax reporting, to help ensure you can keep your figures and projections accurate and compliant.

A business plan is essentially your roadmap to profitability from an initial investment. Whether it's your own money, or a loan from a bank, it's still a good idea to set up a business plan for yourself.

Main things to look to are a SWOT analysis to provide an idea of your business idea's strengths and weaknesses, as well as identify a unique selling point (USP) that will give your business an edge.

While business plans inevitably demand the use of figures, and while these can be impossible to be accurate with, at least by making intelligent guesses you can set yourself targets to work towards.

That's another common feature of a plan, so that specific periods you can review your business progress and make adjustments to your plan as required. This allows you to use real figures for your projections, allowing you to better plan ahead.

You may also be interested in our featured business guides on best business laptops , best business computers and best business smartphones .

Which business plan software is best for you?

When deciding which business plan software to use, first consider what your actual needs are, as sometimes free platforms may only provide basic options, so if you need to use advanced tools you may find a paid platform is much more worthwhile. Additionally, free and budget software options can sometimes prove limited when it comes to the variety of tools available, while higher-end software can really cater for every need, so do ensure you have a good idea of which features you think you may require.

How we tested the best business plan software

To test for the best business plan software we first set up an account with the relevant software platform, whether as a download or as an online service. We then tested the service to see how the software could be used for different purposes and in different situations. The aim was to push each business plan software platform to see how useful its basic tools were and also how easy it was to get to grips with any more advanced tools.

Read how we test, rate, and review products on TechRadar .

  • You've reached the end of the page. Jump back up to the top ^

Are you a pro? Subscribe to our newsletter

Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed!

Jonas P. DeMuro

Jonas P. DeMuro is a freelance reviewer covering wireless networking hardware.

PDFgear review

CyberLink PowerDirector Mobile review

Yes, Apple Vision Pro is being returned to stores - but this could actually be a good thing

Most Popular

By Krishi Chowdhary February 12, 2024

By Jake Green February 07, 2024

By Alex Walker-Todd, Axel Metz February 07, 2024

By Sead Fadilpašić January 31, 2024

By Kara Phillips January 30, 2024

By Philip Berne, Axel Metz January 29, 2024

By Barclay Ballard January 28, 2024

By Dashiell Wood January 25, 2024

By Rob Dwiar January 24, 2024

By Barclay Ballard January 24, 2024

By Barclay Ballard January 22, 2024

  • 2 Months before launch, Palworld’s community manager thought that anything above 50,000 players ‘seemed unobtainable’
  • 3 Nvidia going for rivals' jugulars as it plans to compete in $30 billion custom chip market — but is it a sign that the AI behemoth has reached its peak?
  • 4 More 128TB SSDs are coming as almost no one noticed this launch — another SSD controller that can support up to 128TB appeared paving the way for HDD-beating capacities
  • 5 Home theater fans are being starved of the new 4K Blu-ray releases they want and it's not okay
  • 2 Some of the world's biggest cloud computing firms want to make millions of servers last longer — doing so will save them billions of dollars every year
  • 3 More 128TB SSDs are coming as almost no one noticed this launch — another SSD controller that can support up to 128TB appeared paving the way for HDD-beating capacities
  • 4 I took this Nikon super-telephoto lens on a dream safari trip – and learned a big lesson about pro primes
  • 5 Amazon is filled with cheap projectors – are they worth it?

The online tool for strategic planning

Propel your plans from strategy through execution. Run engaging kickoff sessions, build visual presentations, and manage and track progress collaboratively, all in one online planning tool.

strategy-and-planning_hero-image_EN_3-2_standard.png

Over 60M users love Miro.

Build strategy, manage execution

Collaboratively build strategy and manage projects by combining your thought process and data in one workspace. Use Miro’s planning tools to develop strategy, align teams, and communicate plans across the whole organization.

strategy-and-planning_product-benefits_01-build-strategy-manage-execution_EN_4-3_big.png

Visualize projects and dependencies

Organize all your project tasks and resources in one place. Draw dependency lines, manage workloads, and make adjustments on the fly to stay aligned and on track. Easily visualize timelines and the strategic planning process from start to finish.

strategy-and-planning_product-benefits_02-visualize-projects-and-dependencies_EN_4-3_big.png

Present strategy and execute with the latest info

Turn strategic plans into engaging presentations with live dashboards, wireframes, and diagrams on beautiful frames. Give more context in real time, or make a board recording async and ensure everyone is in the loop.

strategy-and-planning_product-benefits_03-present-strategy-and-execute_EN_4-3_big.png

Why Miro is the best online planning tool

Run strategic meetings.

Facilitate strategic planning sessions where everyone can participate regardless of location. Generate ideas, discuss, and build plans in real time or continue work async. You'll never run out of space or get erased.

Present your vision

Develop, implement, and evaluate strategic plans and turn them into beautiful presentations with just a few clicks. Present live, or export as an image or PDF. Embed boards as visual documentation in Confluence, Jira, and more.

Bring agility to teams

Establish a culture of trust and transparency through visibility & inclusion. Structure your strategy in a way everyone understands, streamlining communication and workflows.

Maximize resource and time efficiency with cross-functional alignment, no duplicated work. Use Miro’s planning tools to automate processes and jump to execution faster.

Related templates

Strategy Map Template

Visually build your strategy and help your team move forward.

Strategy Diamond

Consider all the elements you need to create an integrated and powerful business strategy using our template for the Strategy Diamond Model.

Strategy Presentation Template

Ensure that your team understands the direction to take and how to execute plans.

PI Planning Template

Manage your team's backlog, increase productivity, and build the foundation for a successful PI Planning event.

Competitive Analysis Template

Identify the other companies you're competing with and how your product or service compares.

2x2 Prioritization Matrix Template

Help your team base important decisions on weighted criteria.

More than just an online planning tool

Miro is designed to do much more than just streamline your strategic processes. With intuitive features, collaborative capabilities, and precision in execution, transform your planning into an inspiring and engaging experience, and lead with confidence in any organization.

Strategy Development

Strategy Development

Propel your plans from strategy through execution. Run engaging kickoff sessions, build visual presentations, manage and track progress collaboratively, all in one online planning tool.

SWOT Analysis

SWOT Analysis

Understand the market landscape and anticipate opportunities and threats with a SWOT analysis tool. Make better-informed decisions and align teams on company goals and strategies.

Project management

Project management

Unleash your team's potential and bring your projects to life with Miro, your all-in-one workspace for project management.

business planning tools

Communicate timeframes, context, priorities, and deadlines, and create workflows that bring projects to life.

business planning tools

Gantt Charts

Design projects efficiently and visualize all tasks in one timeline. Run engaging sessions, and manage progress collaboratively.

graphs_01_t-chart_product-image__EN_standard_3_2.png

Visualize information with Miro’s T-chart maker. Easily identify patterns and improve decision-making.

graphs_01_supply-and-demand_product-image__EN_standard_3_2.png

Supply and Demand Graphs

Quickly create a supply and demand graph and get insights on pricing and the best way to target consumers.

How to use Miro for strategic planning

strategy-and-planning_how-to_EN_1-1_big.png

Select the ready-made templates

From SWOT analysis to project planning and  Gantt charts, find all the resources you need.

Use the template frameworks to guide you, or simply add your data to the board. Include diagrams, notes, and context to your plans.

Invite others to join

Share your board link and brainstorm how to move forward.

Keep your board as the single source of truth, so people can refer to it whenever they need.

Planning tools FAQs

What are the most common planning tools.

There are many planning tools you can use to move projects forward. Every tool supports you at a different stage of your process, from Porter’s Five Forces to Balanced Scorecard and Ansoff Matrix. Miro’s online workspace lets you add as many frameworks as you want without any space constraints, making it easy for teams to have everything they need in one shared tool.

How can I choose the best strategic planning tool for me?

Start by analyzing your project needs and scope to see which frameworks are fitting your needs. Make sure to choose an online planning tool that is intuitive and easy, so everyone is kept in the loop and works collaboratively. Miro lets you work in real time or async, making it easy for teams to connect and develop actionable plans and strategies, no matter where they are.

Are Miro’s planning tools free?

Yes! Sign up for free, browse through our Templates Library, and start your planning immediately, right on the board.

How to write a strategic plan (and what it should include)

How to use the Ansoff Matrix for strategic planning (with examples)

How to hold a strategic planning meeting: A simple, step-by-step guide for facilitators

What is the Strategic Management Process? + How to Get Started

How to facilitate an OKR planning workshop

What is a Lean Canvas?

What is an action plan and how to write one

What is a business model canvas (BMC)?

How to make a good business plan: step-by-step guide

What is a key performance indicator (KPI)?

Get on board in seconds

Join thousands of teams using Miro to do their best work yet.

Strategic Planning Tools for 2024

What is strategic planning, what are the benefits of strategic planning, types of strategic planning tools, which strategic planning method is right for your business, charting your course.

Ever feel like your small business is navigating a never-ending maze of decisions, deadlines, and daily demands? You're not alone. Small and midsize businesses (SMBs) struggle with many issues, like being short-staffed, having limited resources, and more. In this environment, making the right decisions and keeping things running can seem like monumental tasks.

But they don't have to be. Strategic planning can help you conquer this chaos. It's not a magic wand, but it's a structured step-by-step process that enables you to define your vision, set achievable goals, and chart a course for growth.

Strategic planning is the process of laying out a clear path for your business. It's about defining what you want to achieve, how you'll get there, and what steps you need to take along the way. Think of it as a map that guides you from where you are now to where you want to be.

SMBs often grapple with many challenges, including limited resources and fierce competition. Strategic planning is the antidote to these challenges. It's not just a theoretical exercise but a practical solution that allows you to identify, prioritize, and tackle the hurdles obstructing your path to success.

Strategic planning can unlock tangible benefits for your business by removing the obstacle of uncertainty and opening up a path to smoother, more efficient growth . Here are just a few of the benefits:

Sharper focus and increased clarity : By defining your core values, long-term goals, and target audience, you give everyone in your organization a shared understanding of where you're heading.

Improved decision-making: Strategic planning facilitates important big-picture conversations among leadership about capabilities, market forces, and scenarios. This aligns everyone on where they should be heading in the future.

Increased productivity: Strategic planning provides a roadmap for action, streamlining your workflow and maximizing your team's potential.

Better motivation and improved morale: By creating a shared vision and purpose, you give your team a reason to feel invested in the business's success, leading to a more engaged and productive workforce .

Greater adaptability: Strategic planning equips you with the tools to anticipate change and adapt quickly. By identifying potential risks and opportunities early on, you can develop contingency plans and adjust your course as needed.

There are many tools for strategic planning, each offering a unique perspective and approach. These tools serve as the strategic gears that set your business in motion toward its envisioned future.

According to Gartner, “CIOs should use strategic principles to provide a framework that ensures all decisions made when creating and executing strategy are aligned with the enterprise's objectives, goals, and strategies.” [1]

Strategic principles come first, and they guide how you use strategic planning frameworks. Here are some common strategic planning tools, along with strategic plan examples.

SWOT analysis

In SWOT analysis, strategic planning teams brainstorm to come up with several strengths, weaknesses, opportunities, and threats for their business and list those items in four quadrants.

SWOT analysis helps teams visualize strengths, opportunities, and threats to their business

Teams identify connections between the quadrants—especially connections between strengths and opportunities—to inform their strategy. The thing about SWOT analysis is that you can use it for annual strategic planning or everyday decision-making. Adapt SWOT analysis to a rapidly evolving market by using it at the individual project level.

For example, say your office cleaning service is considering expanding. Using SWOT, you could come up with the following assessment:

Strength: Efficient, established cleaning teams

Weakness: Limited client base

Opportunity: Expand services to home cleaning

Threat: Market is nearly saturated with existing home cleaning services

In this case, the business could match its strength to the opportunity to expand and leverage its experienced teams to make headway in an already competitive market.

OKRs work by establishing a clearly defined goal (the objective ) along with a handful of key results —that is, measurable checkpoints that are designed to achieve the target goal. Here is how it works:

Define your objective: Articulate a clear and inspiring goal that captures your team's aspirations.

Identify key results: Establish three to five measurable outcomes that, when achieved, will demonstrate meaningful progress toward your objective.

Track and adapt: Regularly assess your progress for each key result, typically on a quarterly or monthly basis.

The key to OKRs is their adaptability. They empower you to respond to shifts in market conditions, seize emerging opportunities, and pivot strategies when needed. An example is adapting to the Great Resignation:

Original objective: Achieve a 95% employee retention rate

By adjusting key results, the company can tackle the challenges of the Great Resignation head-on, fostering a more engaged and resilient workforce.

PEST analysis

With PEST (political, economic, socio-cultural, and technological) analysis, strategic planning teams weigh socioeconomic factors into their business forecasting . PEST analysis can also include legal and environmental factors (PESTLE analysis). For PEST analysis to be used effectively, it helps to have representatives on the strategic planning team with a working knowledge of the component factors.

PEST analysis is somewhat complex due to the breadth and depth of the factors it accounts for. On one hand, this necessitates an experienced strategic planning team to use PEST analysis effectively. On the other hand, this makes PEST adaptable to changing conditions. Think of each of the factors that make up PEST as levers. When the market changes, you may have to pull one or more of those levers to adjust your planning.

Here is an example of PESTLE analysis on the rise of electric vehicles:

Political: Government incentives for EV adoption

Economic: Fluctuations in oil prices

Social: Growing awareness of climate change

Technological: Advancements in battery technology

Legal: Intellectual property rights for battery technology

Environmental: Impact of lithium mining on natural resources

Balanced scorecard

Balanced scorecard is a strategic planning model designed to incorporate both financial and non-financial (customer, internal, innovation) measures.

To use the balanced scorecard, strategic planning teams seek to answer the following four questions:

How do customers see us?

What must we excel at?

Can we continue to improve and create value?

How do we look to shareholders?

Teams should answer those questions in four quadrants, linking them together where possible (similar to SWOT analysis), then translate those answers into operational strategy , individual performance goals , and business planning.

Here is an example of balancing financial goals with non-financial measures using this model for a small independent bookstore:

Customer perspective: Achieve a 95% positive rating on online review platforms.

Internal process perspective: Train staff on hosting author talks and literary workshops to create engaging experiences.

Growth and learning perspective: Invest in staff development by sponsoring book club memberships and industry conferences.

Financial perspective: Increase revenue year-over-year by 5% through diversified income streams from events and merchandise.

Hoshin planning

Hoshin planning guides your organization toward long-term goals through a collaborative, step-by-step process. Its core lies in a top-down vision, where leadership sets ambitious company-wide objectives. These goals then cascade down through the organization, transforming them into smaller, achievable objectives customized for each department and team.

Through open dialogue and feedback, every level of the organization participates, fostering understanding, buy-in, and a shared sense of ownership. Visual management tools, like strategic boards, become the canvas upon which progress is tracked, keeping everyone on the same page and celebrating victories along the way.

Here's an example of Hoshin planning in a manufacturing company that wants to increase production by 20%:

This vision cascades down to departments and goals like reducing setup time by 10% and minimizing waste by 5%, which become part of it.

Each department then creates action plans to achieve its objectives.

Regular meetings facilitate communication, address roadblocks, and ensure alignment.

Progress is visualized on Hoshin boards, motivating teams and celebrating success.

Throughout the process, the company learns from setbacks and adapts its strategies for continuous improvement.

Selecting the ideal strategic planning techniques requires considering your unique needs and goals. While each tool offers valuable insights, its strengths and complexities cater to different business types. Here's a quick guide to finding the best match:

Common mistakes to avoid during strategic planning

Once you choose a strategic planning method, make sure to steer clear of these pitfalls:

Going solo: Strategic planning thrives on collaboration , with perspectives from different levels of the organization. According to Gartner, CIOs should work with key stakeholders to develop strategic principles to provide a shared view of business goals. [1]

Vagueness: Set clear, measurable goals with concrete timelines and actionable steps.

Data blindness: Back up your decisions with data and insights to avoid guesswork and ensure evidence-based planning.

Ignoring reality: Be realistic about your resources, capabilities, and market conditions. Don't set yourself up for failure with unrealistic goals.

Static vision: The world is constantly changing. Be flexible and adaptable, revisiting and adjusting your plan as needed.

Navigating the ever-changing business landscape doesn't have to be a guessing game. By exploring the diverse world of strategic planning processes, you can identify the perfect map for your specific journey. From the adaptable flexibility of OKRs to the comprehensive foresight of PESTLE analysis, there's a tool perfectly suited to help you achieve your vision.

Now it's your turn to:

Evaluate your business context and goals to identify the tool that best fits your size, stage, and industry context.

Involve key stakeholders , gather diverse perspectives, and leverage the collective intelligence of your team.

Regularly revisit and adapt your strategic approach and embrace the mindset of continuous improvement.

In the meantime, here are some resources that will help you plan your business's future:

Strategic Planning Software

How to Balance Short-Term Execution and Long-Term Strategy

How To Track Project Progress Effectively in 4 Easy Steps

Use Strategic Principles to Provide Direction for Strategic Planning and Execution , Gartner

We use essential cookies to make Venngage work. By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Manage Cookies

Cookies and similar technologies collect certain information about how you’re using our website. Some of them are essential, and without them you wouldn’t be able to use Venngage. But others are optional, and you get to choose whether we use them or not.

Strictly Necessary Cookies

These cookies are always on, as they’re essential for making Venngage work, and making it safe. Without these cookies, services you’ve asked for can’t be provided.

Show cookie providers

  • Google Login

Functionality Cookies

These cookies help us provide enhanced functionality and personalisation, and remember your settings. They may be set by us or by third party providers.

Performance Cookies

These cookies help us analyze how many people are using Venngage, where they come from and how they're using it. If you opt out of these cookies, we can’t get feedback to make Venngage better for you and all our users.

  • Google Analytics

Targeting Cookies

These cookies are set by our advertising partners to track your activity and show you relevant Venngage ads on other sites as you browse the internet.

  • Google Tag Manager
  • Infographics
  • Daily Infographics
  • Graphic Design
  • Graphs and Charts
  • Data Visualization
  • Human Resources
  • Training and Development
  • Beginner Guides

Blog Business

7 Best Business Plan Software for 2024

By Krystle Wong , Jan 01, 2024

7 Best Business Plan Software

Gone are the days of staring at blank pages and struggling to structure a business plan effectively. With user-friendly interfaces and a wide range of business plan templates catering to various industries, creating business plans that are polished, professional and data-driven can now be done in a fraction of the time.

For startups, business plan software guides them through the crucial early stages with comprehensive business plan templates and financial modeling tools. Established businesses on the other hand benefit from the software’s collaborative features, enabling seamless teamwork as they pivot, innovate and pursue new growth opportunities.

In this article, let’s delve into exploring the seven best business plan software for 2024. Whether you’re an aspiring entrepreneur with a groundbreaking idea or a seasoned business owner ready to elevate your enterprise to new heights, these software solutions have all you need to create a solid business plan.

Click to jump ahead:

What is a business plan software?

  • 7 Best business plan software for 2024

Factors to consider when choosing a business plan software

7 steps to create your own business plan, business plan software faq, key takeaway.

A Business plan software is a specialized digital tool designed to assist entrepreneurs, startups and established businesses in creating, organizing and presenting comprehensive business plans. 

Business plan software significantly reduces the time and effort required to create a comprehensive business plan . The availability of business plan templates, financial modeling tools and automated features streamlines the process of business planning and eliminates the need for starting from scratch.

Some advanced business planning software even integrates market research capabilities. This feature provides users with access to market trends, industry benchmarks and relevant data. Access to such data helps users make informed decisions and demonstrate a thorough understanding of their target market.

7 Best business plan software for 2024 

1. venngage.

Venngage

Venngage specializes in transforming traditional business plans into captivating visual stories. Visuals can communicate complex information effectively, ensuring your ideas stand out and resonate with your audience.

When it comes to business planning, conveying your ideas with impact is just as important as the content itself. In this digital age, visual storytelling has emerged as a powerful way to captivate audiences and leave a lasting impression. That’s where Venngage steps in.

With a rich library of templates, Venngage offers a variety of themes and styles to suit different industries and business types. Customize your business plans with our user-friendly drag-and-drop tools by adding your brand elements, customizing colors, fonts and visuals to make your business plan truly unique. Check out our library of sample business plans to get started today.

However, while Venngage excels in visual storytelling, it might not be the go-to tool for in-depth financial forecasts and analysis. Users seeking extensive financial modeling might want to complement Venngage with a comprehensive business planning tool.

Pricing options:

Create your first 5 designs with Venngage for free and upgrade to a premium or business plan for $10/month per user and $24/month per user respectively to enjoy premium features. For larger teams who need extra support, controls and security, the enterprise plan starts from $499/month for 10+ seats.

Can I collaborate with team members using this business plan software?

Yes, absolutely! Venngage offers collaborative features that allow you to work seamlessly with multiple team members when creating business plans. You can invite team members to join your Venngage account and they can contribute to the design process in real time. 

Can I export my business plan to different file formats?

Upgrade to a premium or business plan on Venngage to export your professional business plan to different file formats. After designing your business plan, you can choose to export it as a high-quality PDF document, which is ideal for sharing and printing. Additionally, Venngage allows you to export your business plan as an image file (PNG or JPG), making it easy to use in presentations or on your website. 

Is this business plan software suitable for startups or established businesses? 

Venngage is great for entrepreneurs and businesses looking to enhance their business plans with visually engaging infographics and visual assets.

Instead of sharing a lengthy, 50-page document that may bore your audience and fail to effectively convey your message — present your business plan with infographics. Here’s how you can create a business plan infographic that will wow your readers and showcase your business at its best. 

2. LivePlan

LivePlan

Source: Screenshot from LivePlan

In the realm of business planning software, LivePlan stands out as a reliable and user-friendly tool. With a focus on seamless financial forecasting and budgeting capabilities, LivePlan streamlines the planning process, helping businesses transform their visions into reality.

The software’s financial forecasting tools provide users with the ability to project revenue, expenses and cash flow accurately. This financial insight is invaluable for making informed decisions and setting realistic goals.

For hassle-free data integration, the business plan software offers seamless integration with accounting software. This feature allows users to import financial data effortlessly, saving time and reducing manual data entry.

While LivePlan excels in financial planning and user-friendliness, some users may find the customization options for design and layout to be limited. For businesses seeking highly tailored visual aesthetics, LivePlan’s template-based approach might be less ideal.

The standard plan is available at $20/month for monthly billing and $15/month for annual billing. For businesses seeking extensive financial tools to support their operations and growth, the Premium plan costs $20 for the first month and $40/month (monthly billing) or $30/month (annual billing) for subsequent months.

LivePlan facilitates seamless collaboration among users within your account, allowing multiple individuals to work on the same plan concurrently. To prevent conflicting edits, LivePlan restricts access to specific sections, allowing only one user to edit at a time while others observe the locked section.

You can export your business plan by using the print to PDF feature. This generates your plan content in a standard file format compatible with Adobe Reader and other free reader programs. Alternatively, you can export your plan to Microsoft Word (2007 or later).

A great tool for small businesses, startups and entrepreneurs looking for easy-to-use software with solid financial planning tools.

3. BizPlan by Startups.com

BizPlan by Startups.com

Source: Screenshot from BizPlan

If you’re a startup aiming to raise investments, BizPlan is the one for you. As a universal professional business plan builder, BizPlan offers the added advantage of seamless integration with all the tools within the Startups.com network.

Designed with startups in mind, BizPlan’s step-by-step approach allows you to break down the entire scope of work into manageable steps and the built-in Progress Tracker tool keeps you on track towards success.

Once you subscribe, BizPlan opens the door to utilizing all the tools offered by Startups.com, making it a one-stop shop for your entrepreneurial needs. Whether it’s lifetime access to the service, connectivity to Findable to attract financial investments, a wealth of online educational programs or the ability to connect multiple owners to a single account, BizPlan delivers comprehensive support.

While the business plan software offers an array of benefits, it’s essential to consider the possible downsides. The absence of a free version and a mobile app, along with a lack of industry-specific templates for business plans may be worth considering before making your decision

Pricing plan options:

  • Monthly plan ($29 per month)
  • Annual plan ($20.75 per month or $249/year)
  • Lifetime access (one-time fee of $349)

Bizplan encourages collaboration with partners, team members, advisors and subject matter experts by allowing threaded comments throughout the entire plan. It provides control over who can access sensitive financial data and enables convenient cloud-based access from anywhere.

Bizplan provides multiple options for sharing your business plan with others. You can generate an online version of your plan, which can be set as private by default or made publicly accessible through a unique shareable URL. Additionally, Bizplan offers the option to create a custom-branded PDF of your business plan. 

BizPlan is great for entrepreneurs and small businesses who value a vast collection of resources and need support in financial analysis.

Enloop

Source: Screenshot from Enloop

Enloop emerges as one of the best business plan tools for startups, catering to entrepreneurs who crave a streamlined planning process. With the ability to automatically generate basic text for each section of your plan, Enloop saves time and effort in crafting your business vision.

A highlight of the business plan tool is its automatic generation of financial projections, offering accurate insights based on your entered data. This powerful feature empowers entrepreneurs to make informed decisions and project future outcomes with confidence.

For those with a penchant for strategic thinking, Enloop’s “what-if” scenario analysis becomes an invaluable tool. It allows users to explore various business strategies and assess their potential impact on plan outcomes, enabling sound decision-making.

Enloop doesn’t stop at generating numbers; it goes a step further by providing a business plan grading system. This insightful feature assesses plan quality, giving users valuable feedback to refine and enhance their business plans.

However, it’s essential to consider the software’s limitations as customization and design options are relatively limited. Additionally, the basic version of Enloop might not meet the needs of all users, as it lacks certain advanced features. 

  • Seven day free trial (no credit card required)
  • Detailed plan ($19.95/month or $11/month when billed annually)
  • Performance plan ($39.95/month or $24/month when billed annually)

Enloop’s online business plan writing app lets you invite and collaborate with anyone on your business plans using the ‘Invite & Share’ feature.

Enloop allows you to download your business plan in PDF format whenever you’re ready. The plans remain accessible in your paid account, encouraging regular updates to keep track of your business’s health and have an up-to-date plan ready for financing needs.

Suitable for entrepreneurs seeking a tool that simplifies financial forecasting and scenario analysis.

5. PlanGuru

PlanGuru

Source: Screenshot from PlanGuru

PlanGuru’s standout feature lies in its ability to forecast all three financial statements – income statement, balance sheet and cash flow statement so that users can make data-driven decisions.

Creating detailed analyses becomes a breeze with PlanGuru’s general ledger import utilities, allowing seamless historical data import. The software facilitates budget vs actual reporting and enables building rolling forecasts with just a few clicks each month.

Unlimited budgeting flexibility is another advantage offered by the business plan builder. Users can craft simple high-level small business budgets or delve into intricate multi-department operating budgets with ease.

With scenario analysis capabilities, PlanGuru empowers users to interpret the financial impact of specific events accurately. This feature enables making critical investments and strategic decisions with confidence, knowing thorough due diligence has been performed.

Given its sophisticated features, PlanGuru may be more suitable for financial professionals and analysts looking for in-depth financial analysis and budgeting tools. Users not familiar with financial modeling may face a steeper learning curve when utilizing Enloop’s robust capabilities.

  • Single entity ($99/month or $75/month when billed annually)
  • Multi-department consolidations ($299/month or $225/month when billed annually)

You can add up to 3 users with the multi-department consolidation plan. Additionally, all plans allow you to add on $29/month (billed monthly) or $25/month (billed annually) for each extra user.

What other apps does PlanGuru integrate with?

The cloud-based platform is also accessible as a Windows-based desktop version, giving you the freedom to choose the format that suits you best. Additionally, PlanGuru seamlessly integrates with MS Excel, QuickBooks Online and Xero, providing further flexibility and convenience in using the software.

The cloud-based version is suitable for SMBs or nonprofits budgeting for a single entity while the multi-department consolidations plan is for companies with multiple departments needing consolidated budgets.

6. Business Sorter

Business Sorter

Source: Screenshot from Business Sorter

With Business Sorter’s card sort system, crafting the foundation of your plan becomes a breeze. Featuring 273 cards covering various business situations, the business plan generator offers flexibility, allowing users to customize their plan by adding their cards or modifying existing ones, tailoring the plan to their specific needs.

The platform also provides the convenience of viewing your plan on any device, including smartphones, which not many business plan apps have. Additionally, guidance is at hand with Business Sorter as the software provides valuable tips and advice for every key step, empowering users to implement their business strategy with confidence.

While Business Sorter excels in its interactive features, it may not offer as extensive financial analysis tools as other business plan software. For businesses requiring advanced financial modeling capabilities, Business Sorter might not fully meet their requirements.

  • For small teams with up to 3 users ($10/month or $80/year)
  • For medium teams with up to 10 users ($30/month or $240/year)
  • For large teams with up to 30 users ($80/month or $640/year)
  • For enterprises with unlimited users (custom pricing)

Your business plan can be edited by only one user at a time. When a user opens a plan, it automatically locks to prevent any data loss and remains locked until the user finishes their work and exits the plan.

You can print each business plan directly from the plan summaries on your dashboard. 

Suitable for both entrepreneurs and businesses looking for an interactive and visually appealing planning approach.

7. AchieveIt

AchieveIt

Source: Screenshot from AchieveIt

AchieveIt stands as a versatile software for business plans, designed to simplify the planning process for businesses of all sizes and planning methods. With AchieveIt, you can easily build plans, ensuring alignment and engagement among your employees and optimizing plans for seamless execution.

Regardless of your preferred planning method, AchieveIt empowers you to construct plans effortlessly, providing a flexible solution for any planning use case. The software ensures your plans are well-aligned with your organization’s objectives, engaging all team members for successful plan execution.

The business plan tool provides robust tracking and reporting features, allowing businesses to monitor the progress of their plans and measure performance against set goals. Users can create customized dashboards to visualize key performance metrics, making it easier to identify trends and insights.

That said, In comparison to most business plan software, AchieveIt’s pricing might be relatively higher with its extensive features. On top of that, for users new to strategic planning software, AchieveIt may present a learning curve during the initial adoption phase.

The business plan software packages for AchieveIt varies based on factors like organization size, required functionality and the number of users. AchieveIt being an enterprise-level software offers custom pricing to cater to the specific needs of each business. For accurate pricing details, it’s best to contact their sales or customer support team.

AchieveIt allows team members, stakeholders and advisors to have shared access to the platform, providing them with visibility into the latest updates and progress on the plans. Users can assign tasks to team members and track their progress within the platform. 

Can AchieveIt integrate with existing systems?

AchieveIt’s Data Integration API lets you import key metric data from existing systems, saving time and reducing errors by eliminating the need for data entry in multiple places.

AchieveIt is best suited for medium to large-sized businesses and organizations that require a comprehensive and collaborative strategic planning platform. It caters to teams and enterprises seeking to improve their planning processes, track performance and drive organizational alignment to achieve business objectives effectively.

No idea what your business plan should look like? Check out these business plan examples for inspiration. 

business planning tools

When searching for the best business planning software, you may be wondering — what features should I look for in business plan software? You want to make sure it meets your specific requirements and streamlines the planning process effectively. Here are the top six factors to consider:

Ease of use

The software should have a user-friendly interface that simplifies the process of creating a business plan. Look for intuitive navigation, clear instruction and a layout that makes it easy to input and organize your information.

Features and business plan templates

Check the range of features and business plan templates the software offers. Look for a diverse selection of business plan templates catering to various industries and business types. The software should provide essential sections like executive summaries, market analysis, financial projections and more.

business planning tools

Financial modeling tools

Your business plan software should allow you to input financial data and generate accurate and comprehensive financial projections. These business plan creation tools are vital for assessing the financial viability of your business.

Collaboration and sharing

If you’ll be working with a team or seeking feedback from others, consider software that enables real-time collaboration and easy sharing. The ability to work together seamlessly can enhance productivity and improve the quality of your business plan.

Built for fast-moving teams that need to be on the same page, Venngage’s real-time collaboration enables you to polish your design with your team in real time, leave comments on each other’s work,and save your designs in one shared folder. With your  Venngage Business  account, you can easily invite and manage your team members to collaborate on a design, all in real time.

Security and data protection

Since a business plan contains sensitive information, prioritize software that prioritizes security. Ensure that the software uses encryption and data protection measures to keep your data safe from unauthorized access.

Exporting and sharing options

Check the software’s export options. You’ll likely want to share your business plan with others, so ensure it can be exported in popular formats like PDF or PowerPoint.

Are you an entrepreneur starting a new business or expanding your existing business? This guide on how to create a small business plan might come in handy for you. 

business planning tools

Creating business plans can be a crucial step in setting your entrepreneurial vision on the right track. To help you through the process, here are 7 steps to guide you in crafting a comprehensive business plan:

Step 1: Executive summary

Start with an attention-grabbing executive summary. This section provides an overview of your business. In your executive summary, make sure to highlight your mission, goals, products or services, target market and the unique value you offer. Keep it concise, yet compelling.

business planning tools

Step 2: Company description

Give a detailed description of your company. Explain your business’s history, its legal structure (e.g. sole proprietorship, LLC, corporation) and the reasons why your business will succeed in the market.

business planning tools

Step 3: Market analysis

Conduct thorough market research to understand your industry, target market and competition. Identify your ideal customers, their needs and preferences. Analyze your competitors and highlight your competitive advantages.

Step 4: Products and Services

Describe your products or services in depth. Explain their features, benefits and how they meet the needs of your target customers. Emphasize what sets your offerings apart from the competition.

business planning tools

Step 5: Marketing and sales strategy

Outline your marketing and sales strategies to reach your target audience. Explain your promotional activities, pricing strategies, distribution channels and sales tactics. Detail how you plan to acquire and retain customers.

Step 6: Financial projections

Project your financial performance over the next three to five years. Include estimated revenue, expenses and cash flow. Detail your startup costs and funding requirements if applicable. Be realistic and supported by market research.

Step 7: Implementation plan

Create a detailed roadmap for executing your business plan. Set specific goals and milestones. Break down tasks and assign responsibilities. Include timelines and a plan for measuring progress.

business planning tools

A great tip here is to start with a well-structured outline. This guide on how to create a business plan outline will help you in creating your blueprint to easily identify your business’ resource needs, including finances, personnel and equipment. 

Is my business data safe with business plan software?

Most reputable business plan software providers prioritize data security and employ encryption and other measures to keep your business data safe from unauthorized access.

What are the benefits of using business planning tools?

Business planning tools offer time efficiency, professional presentation, error reduction, collaborative features and accessibility, making it easier to create a comprehensive business plan that impresses investors and stakeholders.

Do I need any specific skills or expertise to use business plan software?

No, many business plan software solutions are designed to be user-friendly, requiring no specific skills or expertise. They often come with templates and step-by-step guidance to assist you through the planning process.

In the dynamic landscape of 2024, businesses are on the lookout for innovative tools to stay ahead of the curve and drive their growth. These 7 business plan software picks for 2024 offer a wide range of features, from user-friendly interfaces and real-time collaboration to sophisticated financial analysis tools and customizable dashboards.

Whether you’re looking for user-friendly platform business planning tools that aligns with your business planning processes or a business plan writing software that allows you to tailor the business plan according to your industry, goals and unique requirements — I’m quite certain I’ve got them all covered. 

The value of these business plan software options lies not only in their efficiency but also in their ability to save time and reduce errors. By integrating with existing systems through Data Integration APIs, users can seamlessly import key metric data, eliminating redundant data entry and streamlining the process.

If you’re still unsure about which is the right business plan software for your business, you can always take advantage of free trials or video tutorials and demos offered by software providers. Testing the platform firsthand will give you a practical understanding of its usability and suitability for your business.

  • Business strategy |
  • 7 strategic planning models, plus 8 fra ...

7 strategic planning models, plus 8 frameworks to help you get started

Team Asana contributor image

Strategic planning is vital in defining where your business is going in the next three to five years. With the right strategic planning models and frameworks, you can uncover opportunities, identify risks, and create a strategic plan to fuel your organization’s success. We list the most popular models and frameworks and explain how you can combine them to create a strategic plan that fits your business.

A strategic plan is a great tool to help you hit your business goals . But sometimes, this tool needs to be updated to reflect new business priorities or changing market conditions. If you decide to use a model that already exists, you can benefit from a roadmap that’s already created. The model you choose can improve your knowledge of what works best in your organization, uncover unknown strengths and weaknesses, or help you find out how you can outpace your competitors.

In this article, we cover the most common strategic planning models and frameworks and explain when to use which one. Plus, get tips on how to apply them and which models and frameworks work well together. 

Strategic planning models vs. frameworks

First off: This is not a one-or-nothing scenario. You can use as many or as few strategic planning models and frameworks as you like. 

When your organization undergoes a strategic planning phase, you should first pick a model or two that you want to apply. This will provide you with a basic outline of the steps to take during the strategic planning process.

[Inline illustration] Strategic planning models vs. frameworks (Infographic)

During that process, think of strategic planning frameworks as the tools in your toolbox. Many models suggest starting with a SWOT analysis or defining your vision and mission statements first. Depending on your goals, though, you may want to apply several different frameworks throughout the strategic planning process.

For example, if you’re applying a scenario-based strategic plan, you could start with a SWOT and PEST(LE) analysis to get a better overview of your current standing. If one of the weaknesses you identify has to do with your manufacturing process, you could apply the theory of constraints to improve bottlenecks and mitigate risks. 

Now that you know the difference between the two, learn more about the seven strategic planning models, as well as the eight most commonly used frameworks that go along with them.

[Inline illustration] The seven strategic planning models (Infographic)

1. Basic model

The basic strategic planning model is ideal for establishing your company’s vision, mission, business objectives, and values. This model helps you outline the specific steps you need to take to reach your goals, monitor progress to keep everyone on target, and address issues as they arise.

If it’s your first strategic planning session, the basic model is the way to go. Later on, you can embellish it with other models to adjust or rewrite your business strategy as needed. Let’s take a look at what kinds of businesses can benefit from this strategic planning model and how to apply it.

Small businesses or organizations

Companies with little to no strategic planning experience

Organizations with few resources 

Write your mission statement. Gather your planning team and have a brainstorming session. The more ideas you can collect early in this step, the more fun and rewarding the analysis phase will feel.

Identify your organization’s goals . Setting clear business goals will increase your team’s performance and positively impact their motivation.

Outline strategies that will help you reach your goals. Ask yourself what steps you have to take in order to reach these goals and break them down into long-term, mid-term, and short-term goals .

Create action plans to implement each of the strategies above. Action plans will keep teams motivated and your organization on target.

Monitor and revise the plan as you go . As with any strategic plan, it’s important to closely monitor if your company is implementing it successfully and how you can adjust it for a better outcome.

2. Issue-based model

Also called goal-based planning model, this is essentially an extension of the basic strategic planning model. It’s a bit more dynamic and very popular for companies that want to create a more comprehensive plan.

Organizations with basic strategic planning experience

Businesses that are looking for a more comprehensive plan

Conduct a SWOT analysis . Assess your organization’s strengths, weaknesses, opportunities, and threats with a SWOT analysis to get a better overview of what your strategic plan should focus on. We’ll give into how to conduct a SWOT analysis when we get into the strategic planning frameworks below.

Identify and prioritize major issues and/or goals. Based on your SWOT analysis, identify and prioritize what your strategic plan should focus on this time around.

Develop your main strategies that address these issues and/or goals. Aim to develop one overarching strategy that addresses your highest-priority goal and/or issue to keep this process as simple as possible.

Update or create a mission and vision statement . Make sure that your business’s statements align with your new or updated strategy. If you haven’t already, this is also a chance for you to define your organization’s values.

Create action plans. These will help you address your organization’s goals, resource needs, roles, and responsibilities. 

Develop a yearly operational plan document. This model works best if your business repeats the strategic plan implementation process on an annual basis, so use a yearly operational plan to capture your goals, progress, and opportunities for next time.

Allocate resources for your year-one operational plan. Whether you need funding or dedicated team members to implement your first strategic plan, now is the time to allocate all the resources you’ll need.

Monitor and revise the strategic plan. Record your lessons learned in the operational plan so you can revisit and improve it for the next strategic planning phase.

The issue-based plan can repeat on an annual basis (or less often once you resolve the issues). It’s important to update the plan every time it’s in action to ensure it’s still doing the best it can for your organization.

You don’t have to repeat the full process every year—rather, focus on what’s a priority during this run.

3. Alignment model

This model is also called strategic alignment model (SAM) and is one of the most popular strategic planning models. It helps you align your business and IT strategies with your organization’s strategic goals. 

You’ll have to consider four equally important, yet different perspectives when applying the alignment strategic planning model:

Strategy execution: The business strategy driving the model

Technology potential: The IT strategy supporting the business strategy

Competitive potential: Emerging IT capabilities that can create new products and services

Service level: Team members dedicated to creating the best IT system in the organization

Ideally, your strategy will check off all the criteria above—however, it’s more likely you’ll have to find a compromise. 

Here’s how to create a strategic plan using the alignment model and what kinds of companies can benefit from it.

Organizations that need to fine-tune their strategies

Businesses that want to uncover issues that prevent them from aligning with their mission

Companies that want to reassess objectives or correct problem areas that prevent them from growing

Outline your organization’s mission, programs, resources, and where support is needed. Before you can improve your statements and approaches, you need to define what exactly they are.

Identify what internal processes are working and which ones aren’t. Pinpoint which processes are causing problems, creating bottlenecks , or could otherwise use improving. Then prioritize which internal processes will have the biggest positive impact on your business.

Identify solutions. Work with the respective teams when you’re creating a new strategy to benefit from their experience and perspective on the current situation.

Update your strategic plan with the solutions. Update your strategic plan and monitor if implementing it is setting your business up for improvement or growth. If not, you may have to return to the drawing board and update your strategic plan with new solutions.

4. Scenario model

The scenario model works great if you combine it with other models like the basic or issue-based model. This model is particularly helpful if you need to consider external factors as well. These can be government regulations, technical, or demographic changes that may impact your business.

Organizations trying to identify strategic issues and goals caused by external factors

Identify external factors that influence your organization. For example, you should consider demographic, regulation, or environmental factors.

Review the worst case scenario the above factors could have on your organization. If you know what the worst case scenario for your business looks like, it’ll be much easier to prepare for it. Besides, it’ll take some of the pressure and surprise out of the mix, should a scenario similar to the one you create actually occur.

Identify and discuss two additional hypothetical organizational scenarios. On top of your worst case scenario, you’ll also want to define the best case and average case scenarios. Keep in mind that the worst case scenario from the previous step can often provoke strong motivation to change your organization for the better. However, discussing the other two will allow you to focus on the positive—the opportunities your business may have ahead.

Identify and suggest potential strategies or solutions. Everyone on the team should now brainstorm different ways your business could potentially respond to each of the three scenarios. Discuss the proposed strategies as a team afterward.

Uncover common considerations or strategies for your organization. There’s a good chance that your teammates come up with similar solutions. Decide which ones you like best as a team or create a new one together.

Identify the most likely scenario and the most reasonable strategy. Finally, examine which of the three scenarios is most likely to occur in the next three to five years and how your business should respond to potential changes.

5. Self-organizing model

Also called the organic planning model, the self-organizing model is a bit different from the linear approaches of the other models. You’ll have to be very patient with this method. 

This strategic planning model is all about focusing on the learning and growing process rather than achieving a specific goal. Since the organic model concentrates on continuous improvement , the process is never really over.

Large organizations that can afford to take their time

Businesses that prefer a more naturalistic, organic planning approach that revolves around common values, communication, and shared reflection

Companies that have a clear understanding of their vision

Define and communicate your organization’s cultural values . Your team can only think clearly and with solutions in mind when they have a clear understanding of your organization's values.

Communicate the planning group’s vision for the organization. Define and communicate the vision with everyone involved in the strategic planning process. This will align everyone’s ideas with your company’s vision.

Discuss what processes will help realize the organization’s vision on a regular basis. Meet every quarter to discuss strategies or tactics that will move your organization closer to realizing your vision.

6. Real-time model

This fluid model can help organizations that deal with rapid changes to their work environment. There are three levels of success in the real-time model: 

Organizational: At the organizational level, you’re forming strategies in response to opportunities or trends.

Programmatic: At the programmatic level, you have to decide how to respond to specific outcomes or environmental changes.

Operational: On the operational level, you will study internal systems, policies, and people to develop a strategy for your company.

Figuring out your competitive advantage can be difficult, but this is absolutely crucial to ensure success. Whether it’s a unique asset or strength your organization has or an outstanding execution of services or programs—it’s important that you can set yourself apart from others in the industry to succeed.

Companies that need to react quickly to changing environments

Businesses that are seeking new tools to help them align with their organizational strategy

Define your mission and vision statement. If you ever feel stuck formulating your company’s mission or vision statement, take a look at those of others. Maybe Asana’s vision statement sparks some inspiration.

Research, understand, and learn from competitor strategy and market trends. Pick a handful of competitors in your industry and find out how they’ve created success for themselves. How did they handle setbacks or challenges? What kinds of challenges did they even encounter? Are these common scenarios in the market? Learn from your competitors by finding out as much as you can about them.

Study external environments. At this point, you can combine the real-time model with the scenario model to find solutions to threats and opportunities outside of your control.

Conduct a SWOT analysis of your internal processes, systems, and resources. Besides the external factors your team has to consider, it’s also important to look at your company’s internal environment and how well you’re prepared for different scenarios.

Develop a strategy. Discuss the results of your SWOT analysis to develop a business strategy that builds toward organizational, programmatic, and operational success.

Rinse and repeat. Monitor how well the new strategy is working for your organization and repeat the planning process as needed to ensure you’re on top or, perhaps, ahead of the game. 

7. Inspirational model

This last strategic planning model is perfect to inspire and energize your team as they work toward your organization’s goals. It’s also a great way to introduce or reconnect your employees to your business strategy after a merger or acquisition.

Businesses with a dynamic and inspired start-up culture

Organizations looking for inspiration to reinvigorate the creative process

Companies looking for quick solutions and strategy shifts

Gather your team to discuss an inspirational vision for your organization. The more people you can gather for this process, the more input you will receive.

Brainstorm big, hairy audacious goals and ideas. Encouraging your team not to hold back with ideas that may seem ridiculous will do two things: for one, it will mitigate the fear of contributing bad ideas. But more importantly, it may lead to a genius idea or suggestion that your team wouldn’t have thought of if they felt like they had to think inside of the box.

Assess your organization’s resources. Find out if your company has the resources to implement your new ideas. If they don’t, you’ll have to either adjust your strategy or allocate more resources.

Develop a strategy balancing your resources and brainstorming ideas. Far-fetched ideas can grow into amazing opportunities but they can also bear great risk. Make sure to balance ideas with your strategic direction. 

Now, let’s dive into the most commonly used strategic frameworks.

8. SWOT analysis framework

One of the most popular strategic planning frameworks is the SWOT analysis . A SWOT analysis is a great first step in identifying areas of opportunity and risk—which can help you create a strategic plan that accounts for growth and prepares for threats.

SWOT stands for strengths, weaknesses, opportunities, and threats. Here’s an example:

[Inline illustration] SWOT analysis (Example)

9. OKRs framework

A big part of strategic planning is setting goals for your company. That’s where OKRs come into play. 

OKRs stand for objective and key results—this goal-setting framework helps your organization set and achieve goals. It provides a somewhat holistic approach that you can use to connect your team’s work to your organization’s big-picture goals.  When team members understand how their individual work contributes to the organization’s success, they tend to be more motivated and produce better results

10. Balanced scorecard (BSC) framework

The balanced scorecard is a popular strategic framework for businesses that want to take a more holistic approach rather than just focus on their financial performance. It was designed by David Norton and Robert Kaplan in the 1990s, it’s used by companies around the globe to: 

Communicate goals

Align their team’s daily work with their company’s strategy

Prioritize products, services, and projects

Monitor their progress toward their strategic goals

Your balanced scorecard will outline four main business perspectives:

Customers or clients , meaning their value, satisfaction, and/or retention

Financial , meaning your effectiveness in using resources and your financial performance

Internal process , meaning your business’s quality and efficiency

Organizational capacity , meaning your organizational culture, infrastructure and technology, and human resources

With the help of a strategy map, you can visualize and communicate how your company is creating value. A strategy map is a simple graphic that shows cause-and-effect connections between strategic objectives. 

The balanced scorecard framework is an amazing tool to use from outlining your mission, vision, and values all the way to implementing your strategic plan .

You can use an integration like Lucidchart to create strategy maps for your business in Asana.

11. Porter’s Five Forces framework

If you’re using the real-time strategic planning model, Porter’s Five Forces are a great framework to apply. You can use it to find out what your product’s or service’s competitive advantage is before entering the market.

Developed by Michael E. Porter , the framework outlines five forces you have to be aware of and monitor:

[Inline illustration] Porter’s Five Forces framework (Infographic)

Threat of new industry entrants: Any new entry into the market results in increased pressure on prices and costs. 

Competition in the industry: The more competitors that exist, the more difficult it will be for you to create value in the market with your product or service.

Bargaining power of suppliers: Suppliers can wield more power if there are less alternatives for buyers or it’s expensive, time consuming, or difficult to switch to a different supplier.

Bargaining power of buyers: Buyers can wield more power if the same product or service is available elsewhere with little to no difference in quality.

Threat of substitutes: If another company already covers the market’s needs, you’ll have to create a better product or service or make it available for a lower price at the same quality in order to compete.

Remember, industry structures aren’t static. The more dynamic your strategic plan is, the better you’ll be able to compete in a market.

12. VRIO framework

The VRIO framework is another strategic planning tool designed to help you evaluate your competitive advantage. VRIO stands for value, rarity, imitability, and organization.

It’s a resource-based theory developed by Jay Barney. With this framework, you can study your firmed resources and find out whether or not your company can transform them into sustained competitive advantages. 

Firmed resources can be tangible (e.g., cash, tools, inventory, etc.) or intangible (e.g., copyrights, trademarks, organizational culture, etc.). Whether these resources will actually help your business once you enter the market depends on four qualities:

Valuable : Will this resource either increase your revenue or decrease your costs and thereby create value for your business?

Rare : Are the resources you’re using rare or can others use your resources as well and therefore easily provide the same product or service?

Inimitable : Are your resources either inimitable or non-substitutable? In other words, how unique and complex are your resources?

Organizational: Are you organized enough to use your resources in a way that captures their value, rarity, and inimitability?

It’s important that your resources check all the boxes above so you can ensure that you have sustained competitive advantage over others in the industry.

13. Theory of Constraints (TOC) framework

If the reason you’re currently in a strategic planning process is because you’re trying to mitigate risks or uncover issues that could hurt your business—this framework should be in your toolkit.

The theory of constraints (TOC) is a problem-solving framework that can help you identify limiting factors or bottlenecks preventing your organization from hitting OKRs or KPIs . 

Whether it’s a policy, market, or recourse constraint—you can apply the theory of constraints to solve potential problems, respond to issues, and empower your team to improve their work with the resources they have.

14. PEST/PESTLE analysis framework

The idea of the PEST analysis is similar to that of the SWOT analysis except that you’re focusing on external factors and solutions. It’s a great framework to combine with the scenario-based strategic planning model as it helps you define external factors connected to your business’s success.

PEST stands for political, economic, sociological, and technological factors. Depending on your business model, you may want to expand this framework to include legal and environmental factors as well (PESTLE). These are the most common factors you can include in a PESTLE analysis:

Political: Taxes, trade tariffs, conflicts

Economic: Interest and inflation rate, economic growth patterns, unemployment rate

Social: Demographics, education, media, health

Technological: Communication, information technology, research and development, patents

Legal: Regulatory bodies, environmental regulations, consumer protection

Environmental: Climate, geographical location, environmental offsets

15. Hoshin Kanri framework

Hoshin Kanri is a great tool to communicate and implement strategic goals. It’s a planning system that involves the entire organization in the strategic planning process. The term is Japanese and stands for “compass management” and is also known as policy management. 

This strategic planning framework is a top-down approach that starts with your leadership team defining long-term goals which are then aligned and communicated with every team member in the company. 

You should hold regular meetings to monitor progress and update the timeline to ensure that every teammate’s contributions are aligned with the overarching company goals.

Stick to your strategic goals

Whether you’re a small business just starting out or a nonprofit organization with decades of experience, strategic planning is a crucial step in your journey to success. 

If you’re looking for a tool that can help you and your team define, organize, and implement your strategic goals, Asana is here to help. Our goal-setting software allows you to connect all of your team members in one place, visualize progress, and stay on target.

The Best 10 Business Planning Tools for Startups

Business planning is one of the significant strategic approaches that startup companies use to showcase their core objectives and programs to achieve organizations goals. Young businesses also prefer to make solid business plans to attract investors.

Therefore, the use of authoritative business planning tools is crucial for startups. That is why this article shares one of the top business planning tools with all necessary features and pricing models.

  • 1 Top 10 Business Planning Tools for Startups
  • 2.1 Features
  • 2.2 Pricing
  • 3.1 Features
  • 3.2 Pricing
  • 4.1 Features
  • 4.2 Pricing
  • 5.1 Features
  • 5.2 Pricing
  • 6.1 Features
  • 6.2 Pricing
  • 7.1 Features
  • 7.2 Pricing
  • 8.1 Features
  • 8.2 Pricing
  • 9.1 Features
  • 9.2 Pricing
  • 10.1 Features
  • 10.2 Pricing
  • 11.1 Features
  • 11.2 Pricing
  • 12 Conclusion
  • 14 What is Business Planning?
  • 15 Why business planning is important?
  • 16 What are ten of the best business planning tools?

Top 10 Business Planning Tools for Startups

Here are ten of the best tools that will help you writing a business plan.

Business Planning Tools For Startups

Enloop is a cloud-based business planning tool that 323,180 entrepreneurs, students and businesses have used. It can create around 16 financial ratios and real-time performance reports.

Financial Forecast —  Businesses can automatically anticipate their financial reports with this tool.

Currency Support —  It supports around 100 currencies, so people from different countries can smoothly use this app for business planning.

Real-Time Score —  Enloop permits the startups to watch their real-time score to improve performance.

Its Free plan enables the businesses to get a 7-day free trial. But the monthly cost of its Detailed plan is $19.95.

2. LivePlan

LivePlan could be a reliable option for startups to nail down a solid business plan. Moreover, it also claims to build business plans 30% faster than the rivals. Luckily, 1 million small businesses, enterprises and entrepreneurs have shown trust in this tool.

Sample Plans —  It is the perfect business tool for new teams because they can get guidance from 500+ already available sample plans.

Professional Documents —  LivePlan also enables the startups to design an engaging business plan and other documents to convince investors.

LivePlan comes with two plans Standard and Premium, and its monthly charges start from $20.

3. IdeaBuddy

If you are finding an ingenious business planning tool, then you shouldn’t ignore IdeaBuddy. With planning, development and real-time evaluation, its financial projection properties are also appealing.

One-Page Plan —  Startups can build a business plan within 30 minutes, and yes, it could consist of a single page for ease of understanding.

Financial Properties —  Financial calculators, profit and loss statements, and forecasts benefit from using IdeaBuddy.

The yearly cost of its Dreamer plan is $65, but only 1 collaborator is eligible for it. However, for 3 and 30 collaborators, you can also consider its Founder and Team plans. The yearly charges of these plans commence from $115.

Cuttles is one of the most straightforward business planning tools that 20,000+ startups are using. It could surely be a great option when it comes to building startup plans.

Canvas —  This property aids the young companies to smoothly architect and corroborate their business idea.

Suitable for Teams —  It also allows the startups to easily include the teams’ ideas while making a business plan.

Its Free plan is applicable for 1 member and offers restricted features. On the other hand, you can consider its Seed, Grow and Series plans with more advanced characteristics. Its Seed plan bills €8/month to users.

5. Vizologi

Vizologi is an AI-backed business planning tool that is the foremost choice of students, strategists, managers, entrepreneurs and consultants. The availability of free business models also differentiates it from rivals.

Business Intelligence —  Companies can make wise decisions using premium analytics and data reports.

Business Plan —  Its business plan includes a mash-up method, canvas, SWOT & PEST analysis.

Although Vizologi confers a free trial, but its monthly charges commence from $9.

6. TheBizPlanner

TheBizPlanner is also a unique business planning tool. This end-to-end business planning software comes with four significant properties: profile, connect, plan and collaborate.

Dashboard —  The single screen dashboard provides all reports to businesses.

Campus Edition —  It has also released an exclusive edition for educators.

Fortunately, TheBizPlanner Pro is free for startups now. Howbeit, you can talk with the sales team to get the pricing of its Competition plan.

7. AchieveIt

AchieveIt is a purpose-built Georgia-based strategic business planning solution that was founded in 2010. This is an ideal business planning platform for all sectors, including credit unions, commercial, healthcare, federal and local governments.

Integrated Tool —  It provides data uniformity and great accountability for execution.

PowerPoint Digestibility —  This tool could be easily connected with PowerPoint.

This platform bills $70 per user and month under its Core plan.

8. PlanGuru

PlanGuru is also a considerable business planning, forecasting and budgeting software that startups should use. Furthermore, it is more suitable for accountants, small businesses and nonprofit organizations than big enterprises.

Forecasting —  PlanGuru provides 20 powerful forecasting tools to businesses.

Analysis in Minutes —  Users can get all historical data analysis within minutes.

The monthly cost of its cloud and desktop version starts from $99.

Jedox is a unified business planning and forecasting solution that 2500+ companies use worldwide. The major brands that are practicing Jedox are ManpowerGroup, McDonald’s and Bosch.

Timely Insights —  Time-intensive planning has become essential for startups, and it is only possible with timely insights.

Predictive Forecasting —  It is packed with artificial intelligence-based predictive forecasting and planning features.

Jedox comes with four major plans Essential, Business, Professional and Performance. However, you will have to click the ‘Get A Quote’ tab to explore the pricing.

If you want business planning software for VC funded companies, growth and accounting firms, then Jirav is the best option for you. This is a smart and all-in-one budgeting, planning and forecasting tool.

Automatic Imports —  Jirav could automatically integrate all of your business data. Companies can also connect it with accounting and workforce software like Gusto, Xero and QuickBooks.

Reports & Dashboards —  It provides both commercial and non-financial information.

Starter and Pro are core plans of Jirav that monthly cost $250 and $850, respectively.

Business planning is critical for startups and founders to execute a business idea successfully. The use of smart and interactive business planning software and solutions definitely help the new businesses in convincing VCs to fund them. In this regard, entrepreneurs can utilize the above best performing business planning tools.

To discover more startups tools, please refer to the article Top Startup Tools .

What is Business Planning?

Business planning typically applies to organizing ideas in a formal business plan that summarizes the business’s current state.

Why business planning is important?

– Steer the business – Define milestones – Help with funding

What are ten of the best business planning tools?

– Enloop – Live Plan – IdeasBuddy – Cuttles – Vizologi – TheBizPlanner – AchieveIt – PlanGuru – Jedox – Jirav

' src=

Jessica Clark

I'm a professional software engineer freelancer. I'm passionate about coding and tech startups.

Leave a reply Cancel reply

Your email address will not be published.

Save my name, email, and website in this browser for the next time I comment.

Build, deploy and scale your app with Back4App Containers

Filter by Keywords

10 Best Strategic Planning Software Tools in 2024

Senior Content Marketing Manager

February 14, 2024

Building a strategy takes a huge amount of effort and time. You need to build your vision for the business, set your goals accordingly, and outline how you’ll get there. The number of variables and uncertainties involved, along with the long planning horizon, can quickly turn the creation of that strategic plan into a headache.

The good news is that it doesn’t have to be. With the right strategic planning software, capturing and tracking key metrics makes it easier for teams to prioritize the right work.

What is Strategic Planning?

What should you look for in strategy software, 2. achieveit, 4. charthop, 5. lucidspark, 9. clearpoint strategy, 10. peoplebox.

A strategic planning process involves outlining the vision for your organization’s future along with the direction everyone needs to take to get there. The ultimate goal is a formal strategic plan that lets everyone know exactly what they’re working toward.

Every industry and organization approaches planning and progress tracking in different ways. But strategic planning always includes a few core components.

To start, you need a future vision. That’s exactly where leadership sees your organization end up in the future, and it helps stakeholders visualize progress over time.

Then you need to identify the more specific goals that the organization needs to accomplish on the way to fulfilling the vision. They’re still high-level, overarching goals that everyone uses to prioritize their work , track performance, and daily tasks.

Finally, you need a plan of action, the approach you’ll take to accomplish your strategic plan. This final step can become complex as it reaches into the day-to-day tactical plans of every organizational unit.

When going through our list of the best strategic planning software below, you’ll quickly notice just how different they are in their attempts to help you plan more effectively and strategically. Every complete solution you research, however, should include at least a few core strategic planning features on one centralized dashboard:

  • Organization: Data visualization capabilities and tools to organize complex timelines, using tools such as Gantt charts or flowcharts
  • Flexibility: More free-flowing dashboards and interfaces, such as whiteboard templates, that enable brainstorming and creative thought early in the process
  • Customization: Customizable features that allow you to make the software work for your strategic planning process and track progress
  • Agility: The ability to adjust on the fly is necessary, keeping potential contingency plans in mind
  • Team-focused: Collaboration tools that allow more than one user to contribute to the project, especially in virtual environments where the strategy planning team may be distributed remotely
  • Integration: Integration options with other tools, including those you use for project execution or secondary plans, such as product roadmaps ; this sets the stage for a complete product management solution
  • Reporting: Customized performance reports to help monitor key performance indicators and optimize resource management throughout all of your strategic initiatives

Not every tool you find will be equally strong in these features and benefits. The key, then, is finding strategic planning software that matches your specific business game plan, situation, and environment.

The 10 Best Strategic Planning Software Tools to Use in 2024

It’s tough to make an argument for anything other than strategic planning to be the most important process in your organization. Tactics without the strategy behind them likely won’t succeed. These tools can simplify creating that strategy and streamline the process for everyone involved.

ClickUp is the perfect strategic planning software for any organization. It provides a comprehensive suite of tools to help teams organize plans, prioritize tasks, and manage projects. Plus, its visual strategic planning templates give project managers a jumpstart in the creation process.

And if you’re looking for a complete product management solution, ClickUp integrates with thousands of other work apps to streamline portfolio management into one central hub!

ClickUp best features

  • A huge library of templates, including Gantt charts, visual timelines, whiteboards, board views, and ClickUp’s Strategic Roadmap Template !
  • ClickUp Goals feature that allows you to turn your organizational vision into measurable and intuitive goals you can track and work on directly in the software
  • Interactive Dashboards that allow key users to view organizational analytics and adjust their strategic plans
  • A visual and user-friendly interface that works largely on dropdowns and drag-and-drop, enabling anyone involved in the planning to contribute
  • Integrated document management that can house the outcome of the strategic planning process—the written plan—in a centralized and easily accessible space
  • Communication tools that enable multiple members of the organization to collaborate on the planning process from beginning to end

ClickUp limitations

  • The comprehensive nature of the software and its many features can make for a longer learning curve for new users
  • This is a desktop-first strategic planning software; while there are some mobile capabilities and a mobile app, its functionality will always be most effective on desktop devices
  • The pre-built automation can sometimes be limiting, causing some users to request more customized automation opportunities

ClickUp pricing plans

  • Free Forever: A free service for users
  • Unlimited: $7/month per user
  • Business Plus: $19/month per user
  • Enterprise: Contact for pricing

ClickUp ratings and reviews

  • G2: 4.7/5 (2,000+ reviews)
  • Capterra: 4.7/5 (2,000+ reviews)

ClickUp Strategic Roadmap Template

The first dedicated strategic planning tool on our list, AchieveIt focuses on automating and digitizing the planning process. That includes not just creating plans but also monitoring them across the organization and toward long-term success.

The planning process becomes more visible and transparent across the organization. With the intuitive dashboard, everyone remains on the same page regarding the goals, what they’ve achieved, and what they still need to do.

AchieveIt best features

  • Planning templates optimized for industries, including healthcare, government, education, banking, manufacturing, and more
  • A visual dashboard for users to keep track of both the planning and execution process across the organization
  • A scorecard system to measure ongoing progress toward particular strategic goals
  • An extensive knowledgebase complete with both video and written content to simplify onboarding and starting your planning process
  • Close vendor-client relationships that lead to strong customer support and a higher chance of using the software successfully

AchieveIt limitations

  • Limited ability to customize some fields in the templates and dashboards depending on the customization needed
  • Fewer integrations than some leading software solution tools on this list, making it more difficult to plan and track outside the platform
  • The pre-built reporting functions can be somewhat limiting, requiring time spent on custom reports in many industries

AchieveIt pricing plans

  • Core: Contact for pricing
  • Plus: Contact for pricing
  • Pro: Contact for pricing

AchieveIt ratings and reviews

  • G2: 4.5/5 (45 reviews)
  • Capterra: 4.7/5 (21 reviews)

Elate strategic planning software

Built by former strategic organizational leaders, Elate helps others streamline their strategy sessions and planning. Like most of the best strategic planning tools, it focuses on three stages: planning, execution, and success tracking.

Each stage focuses on ongoing cross-unit alignment and optimization to keep your business on track.

Elate best features

  • Set objectives and strategic goals in the platform, then communicate them to your larger teams via integrations, such as Slack and Microsoft Teams
  • Create a unified dashboard view of your strategic plan that users and everyone else in the organization can easily see and reference
  • Monitor the status of the plan’s execution through real-time success and progress reports in the platform
  • Use the intuitive interface for easy planning without getting off target

Elate limitations

  • The intentional simplicity of the product can sometimes be a limitation for more complex planning processes
  • External data can be difficult to import into the software, which doesn’t always read typical file types
  • There is currently no integration with project management tools, such as ClickUp, Asana, or Monday, that could lead to more complex execution projects

Elate pricing plans

  • Contact for pricing

Elate ratings and reviews

  • G2: 4.9/5 (11 reviews)
  • Capterra: No reviews recorded

ChartHop people management tool

As a people management tool, ChartHop offers a digital solution for effectively tracking, analyzing, and understanding your workforce. It centralizes data such as employee information, roles, skills, and performance metrics, providing a holistic view of your organization.

By having access to this comprehensive dataset, you can gain valuable insights into your workforce and make informed decisions regarding resource allocation, talent development, and organizational strategy.

ChartHop best features

  • A comprehensive employee and people management tool that provides all the depth and insights you need for strategic planning
  • Integration abilities into other websites, such as your organization’s intranet
  • A great mix of user experience and customizability to create an easy tool for all employees and leadership alike

ChartHop limitations

  • There are so many features that it can be easy to lose the overview of what matters most in managing your people and plans
  • The search function within the platform has some bugs and doesn’t always return comprehensive results
  • Reports could use more segmentation abilities to analyze individual employees and data groups in greater detail

ChartHop pricing plans

  • ChartHop Basic: Free for up to 150 employees
  • ChartHop Standard: $8/month per employee
  • ChartHop Premium: Contact for pricing

ChartHop ratings and reviews

  • G2: 4.2/5 (98 reviews)
  • Capterra: 4.6/5 (65 reviews)

Lucidspark project management tools

Strategic planning almost always has to start with creative brainstorming and ideation. That’s where a tool like Lucidspark, which thrives on its virtual whiteboarding features, truly shines. Companies, including Google, General Electric, and NBC Universal, use it in the strategic planning process.

Lucidspark best features

  • Strong desktop and mobile capabilities that make whiteboarding and collaboration simple in any situation
  • An integrated chat function that allows multiple users working on the same whiteboard to stay in real-time contact
  • Templates from decision trees to roadmaps that make getting started in the planning process simple

Lucidspark limitations

  • Somewhat limited features and templates for any multi-layered planning process
  • Pricing is not listed publicly, and some reviews have called it out as more expensive than other whiteboarding tools

Lucidspark pricing plans

Lucidspark ratings and reviews.

  • G2: 4.5/5 (2,000+ reviews)
  • Capterra: 4.7/5 (350+ reviews)

Empiraa objective dashboard for strategic planning

Designed specifically for small businesses, Empiraa employs an established strategic framework that’s easy to integrate your organization and plan into. Simplicity is front and center for all users involved, whether you’re creating a vision or collaborating toward achieving that vision.

Empiraa best features

  • Simplicity is intentional throughout, and this makes Empiraa one of the easiest tools available to start your planning process
  • Streamlined functionality for switching directions or changing alignments to account for shifting business environments
  • Artificial Intelligence (AI) integrations that use industry trends and data to suggest both business goals and strategies help achieve these goals

Empiraa limitations

  • Simplicity is its downfall in scenarios where more complex tools and integrations, such as basic task management or calendar functionality, become necessary
  • Lacks a clone function to quickly duplicate content, features, or set-up items when creating more complex or multiple plans and reports

Empiraa pricing plans

  • Empiraa Starter: $4.90/month per user
  • Empiraa Pro: $13.90/month per user
  • Empiraa Max: $23.90/month per user

Empiraa ratings and reviews

  • G2: 5/5 (1 review)
  • Capterra: 5/5 (1 review)

Hive project management software

Similar to ClickUp, Hive integrates strategic planning with more task-oriented project management. It has goal and milestone features, visualization tools, and an easy ability to move directly from the more overarching goals and strategy into managing individual projects connected with them. Meanwhile, Hive Pages is a dashboard specifically designed for strategic tracking.

Hive best features

  • Robust templates that come with full customizability, allowing you to build repeatable processes that help the planning process
  • Centralized and automated reporting and tracking of your goals to keep everyone who needs to stay in the loop involved
  • Automated notifications for every aspect of the strategic planning process, maximizing visibility when building or adjusting the plan

Hive limitations

  • The chat function is a great collaboration tool in theory, but some users report lost messages that make it less reliable than other collaboration tools
  • The mobile app exists largely for checking tasks and notifications and doesn’t have the same functionality as the website and desktop app

Hive pricing plans

  • Free: A free service for users
  • Teams: $12/month per user

Hive ratings and reviews

  • G2: 4.6/5 (400+ reviews)
  • Capterra: 4.5/5 (150+ reviews)

Envisio is designed to manage complexities. What makes it especially unique is its focus on planning transparency when it comes to external stakeholders, who take on a more significant role in these industries compared to most others.

Envisio best features

  • A customizable plan structure that allows every organization to account for its nuances and complications in the process
  • The ability to build multiple plans on a single account, enabling especially complex healthcare and nonprofit organizations to better manage their strategic planning infrastructure
  • Fully customizable public dashboards that can generate automated reports to email lists and sign-ups who are interested in the execution of the plans

Envisio limitations

  • The platform is still evolving, which means new features or layout changes can pop up unexpectedly for users
  • A single plan with custom pricing makes it difficult to plan exactly how much you’ll need to spend on this software without in-depth engagement

Envisio pricing plans

Enivisio ratings and reviews.

  • G2: 4.6/5 (10 reviews)
  • Capterra: 4.7/5 (26 reviews)

ClearPoint Strategy software for strategy execution

ClearPoint Strategy builds its business model on AI automation, and its strategic planning solution is no different. An AI assistant helps organizations with any type of strategic planning, including balanced scorecards, GTSM planning mechanisms, and beyond. The software also automates the execution of that planning process through automated tasks, notifications, reporting, and more.

ClearPoint Strategy best features

  • An AI-enabled budget forecasting that adds a tangible component to the strategic planning process without any calculations needed
  • A fully customizable dashboard that helps all levels of management in both the planning and execution of the plan
  • Plenty of customization possibilities, including custom fields and reports, that allow for a more personalized planning process

ClearPoint Strategy limitations

  • A relatively long learning curve, thanks in part to features, such as AI, that aren’t always intuitive to set up at the beginning compared to other strategic planning solutions
  • Relatively rigid time frames with a standard monthly cadence that is difficult to change in the software

ClearPoint Strategy pricing plans

Clearpoint strategy ratings and reviews.

  • G2: 4.7/5 (100+ reviews)
  • Capterra: 4.9/5 (38 reviews)

Peoplebox performance management platform

How does your people strategy connect to your business strategy? Find out with Peoplebox. It’s a performance management platform that combines traditional strategic planning tools with those that improve employee engagement and performance management.

Peoplebox best features

  • Performance management tools that allow you to see where and how your teams are performing, which you can connect to your strategic forecasting efforts
  • Objectives and Key Results (OKR)-focused software that’s especially beneficial for organizations using the OKR approach to strategic planning
  • Automated notifications for any red flags that may impede business progress or employee performance

Peoplebox limitations

  • User roles are not always well-defined, with all users being able to create company-wide goals that can confuse the reporting
  • Integrations are still in development, currently limiting the software to a relatively self-contained planning platform

Peoplebox pricing plans

  • Professional: $7/month per user
  • Premium: $15/month per user

Peoplebox ratings and reviews

  • G2: 4.5/5 (250+ reviews)
  • Capterra: 4.7/5 (120+ reviews)

Ready to Start Mastering Your Business Strategy?

ClickUp offers features such as collaboration tools, goal tracking, and real-time data analysis. This allows you to monitor progress and make adjustments as needed. You can also invite stakeholders and assign tasks to ensure everyone is working towards the same end goal. With ClickUp’s help, your team will reach its objectives faster than before.

Start with a free ClickUp Workspace and leverage strategic planning features for your next project!

Questions? Comments? Visit our Help Center for support.

Receive the latest WriteClick Newsletter updates.

Thanks for subscribing to our blog!

Please enter a valid email

  • Free training & 24-hour support
  • Serious about security & privacy
  • 99.99% uptime the last 12 months

Upmetrics AI Assistant: Simplifying Business Planning through AI-Powered Insights. Learn How

Upmetrics

Business Planning

  • Financial Forecasting

AI Assistance

See how upmetrics works  →, strategic planning, entrepreneurs & small business, accelerators & incubators, business consultants & advisors, educators & business schools, students & scholars.

  • Sample Plans

Business Plan Course

Small business tools.

  • Strategic Canvas Templates

E-books, Guides & More

  • WHY UPMETRICS?

Customers Success Stories

  • Business Plan Builder
  • Canvas Modeling
  • Product Tour
  • Business Consultants and Advisors
  • Entrepreneurs And Small Businesses
  • Accelerators & Incubators
  • Educators & Business Schools
  • Students & Scholars
  • Sample Business Plans
  • business plan course
  • E-Books, Guides & More
  • Success Stories

10 Best Business Plan Software and Tools in 2023

best business plan software tools

Do you know what’s common between a global IT firm and a small food truck business? 

Like any other business on the planet Earth, they both require a  solid business plan  to make their business a runaway success.

Business plan. No entrepreneur is a stranger to this term, but do they all consider it seriously? Not sure.

Results? Spending a lot of time, money, and resources on the wrong marketing strategies, missing several growth opportunities, and of course, facing tough times raising funds. 

No one wants to be in this situation! 

That’s where a perfect business plan software can help you out. These tools make drafting an investment-ready business plan a breeze.

So how exactly can these business planning tools help?

Simply put,  business plan software  can help you create a winning business plan, develop marketing strategies, and predict your financial future—ultimately helping your business grow.

Now, how to choose a tool that will suit your business’s requirements and your budget too? The answer is right here.

In this article, we’ve narrowed down our search for the best business plan software to the 10 best paid and free software considering factors like—pricing, features, performance, and credibility. 

So you can easily pick the one that best suits your requirements.

All sorted? Shall we begin? Let’s roll.

Best Paid and Free Business Plan Software and Tools

Jump to section, 1. upmetrics.

business plan affordable tools

Upmetrics is a top business and financial planning software helping entrepreneurs and small business owners start and grow their businesses. 

Its 200+ fully customizable sample business plans, video tutorials, well-written documentation, and go-to guides make writing a business plan a lot easier for someone new to business plan writing.

The best part about Upmetrics is—it’s affordable, reliable, and best for beginners. 

In fact, the creators of Upmetrics believe that creating a business plan requires no special qualifications, nor a degree in finance to draw financial projections.  

And the tool they’ve created speaks volumes of their words—making it a go-to solution for budding entrepreneurs. 

Let’s have a look at the features you get with Upmetrics—the #1 business plan software: 

  • 400+ fully customizable business plan templates to get started.
  • Easy-to-use business plan builder with drag and drop tools.
  • Financial forecasting tool to plan and manage your cash flow with ease.
  • Easy to share or collaborate with the team in real time.
  • Pitch deck creator to create perfect pitches and impress investors.
  • Create actionable business strategies using various business model canvases.
  • Easily customize and edit cover pages.
  • Real-time updates and cloud storage, eliminating the risk of data loss.
  • Business resources, video tutorials, and guides to help get started.
  • Intuitive, seamless, and responsive user interface.

The Upmetrics subscription starts at $7/month (billed annually) with one workspace; it also provides a free demo and a 15-day money-back guarantee —so no risk at all!

Create winning Business Plans with ultimate

AI Business Plan Generator

Plans starting from $7/month

business planning tools

What People Say About Us

Imad Ahmed

2. Liveplan

LivePlan is one of the best and most renowned business planning, budgeting, and performance-tracking software for startups and small business owners.

Whether you are a startup looking to attract potential investors or an established organization that needs help creating a forecast of your business’s financial future—LivePlan can help.

LivePlan simplifies the process of creating a professional business plan with its instruction manuals, tutorials, and expert guidance, whereas its automated financials built-in with formulas ensure precise financial forecasting.

LivePlan provides a wide range of features which may include:

  • Business plan templates
  • Budgeting and expense tracking
  • Online learning tools & resources
  • Collaborative planning
  • Pitch deck creator
  • Dashboard and reporting
  • Integrated document storage

Though LivePlan has been in the market for a long time now, it isn’t suitable for short-term business planning. That’s why we recommend exploring some LivePlan alternatives.

LivePlan’s subscription model consists of two plans: standard and premium. The standard plan costs $20/month, whereas the premium plan costs $40/month. However, they do not have any free trial or demo as a part of their pricing plan.

What I didn't like about LivePlan?

Here are the average user ratings, comparing the experiences on Liveplan and Upmetrics.

Compare Liveplan with Others

liveplan vs enloop comparison

Liveplan vs. Enloop: Which is Best for Your Business?

ideabuddy vs liveplan

IdeaBuddy vs. Liveplan: Which is Best for Your Business?

business planning tools

Bizplan vs. Liveplan: Which is Best for Your Business?

Enloop is an advanced business planning and financial forecasting tool helping business owners maximize the potential of their business venture.

Unlike Upmetrics and LivePlan—Enloop is designed for individuals with prior financial knowledge and business planning experience.

Understanding all of its functionalities is tough, but it has a lot to offer once you figure out its basic functionalities. Still, it’s not the most intuitive and user-friendly application in this space, so it may take a while to get used to it.

If you’re not a beginner and are willing to invest some time understanding and learning its functionalities—it’s well worth it. But, if you’re not, you may consider looking for a few other business plan software.

Enloop provides a wide range of advanced financial tools and business planning features, which may include:

  • Business plan creation
  • Automated financial forecasts
  • Collaboration and sharing
  • Funding and investor tools
  • Exporting and integrations
  • Auto-generated financial reports
  • Automated text writing

Enloop’s monthly subscription plans range between $19.95 and $39.95, depending on your plan and functionalities. It also has a 7-day free trial with no credit card details required.

What I didn't like about Enloop?

Here are the average user ratings, comparing the experiences on Enloop and Upmetrics.

4. IdeaBuddy

Ideabuddy is an innovative business plan software helping new-age entrepreneurs turn their ideas into successful business plans.

Customizable templates, industry-based guides, and streamlined idea and business plan creation make it one of the most user-friendly applications on the list.

It is designed on a principle where users can develop, test, and launch their business idea—all in one place. While it’s great for idea creation, it may lack several comprehensive business planning features.

Financial forecasting is vital to a business plan, but IdeaBuddy may not provide all the necessary financial tools for accurate projections.

So if your business is in the idea stage—choosing IdeaBuddy could be a fair call, but if you plan to build a comprehensive business plan, you need another tool.

IdeaBuddy provides a wide range of features, which may include:

  • Modern business plan with a click
  • Export your plan and financials
  • Mobile-friendly platform
  • Customizable templates and industry-based guides
  • Test to score your idea
  • Step-by-step business guide
  • Brainstorm ideas with your team

IdeaBuddy’s subscription model consists of four plans: free, dreamer, founder, and team pro.

Depending on the plan specifications and features, these plans may cost between $15 to $40 a month. You can also save up to 60% on annual memberships.

What I didn't like about IdeaBuddy?

Here are the average user ratings, comparing the experiences on IdeaBuddy and Upmetrics.

Planful is a business planning and financial performance management cloud software. It provides a structured framework for industry-wide businesses to develop, track, and execute their plans.

The tool specializes in financial performance management with advanced features like—financial close management, reporting, and consolidation.

While the tool has numerous advanced features and functionalities—they all come with a high price tag as it’s mainly designed for medium and large-scale enterprises.

Let’s have a look at the extensive financial tools and features you may get with a planful subscription:

  • Budgeting and forecasting
  • Financial consolidation
  • Scenario modeling
  • Reporting and analytics
  • Financial close management
  • Data integration and connectivity
  • Responsive web and mobile apps

Planful has no structured pricing model on their website; users may contact their sales team for a custom quotation.

What I didn't like about Planful?

6. iPlanner

iPlanner is an enterprise business plan software that has been helping entrepreneurs develop their business plans since 2007. It is suitable for businesses looking to secure funding, better understand and manage risks, or communicate the company’s business model and strategy to the team.

Though the business plan software has been around for over a decade now, it didn’t seem to cope with the technological advancements, so it may not provide the most intuitive and visually appealing user interface.

But if you are searching for an affordable business planning and performance tracking tool with KPIs, analytics, and reporting features, iPlanner can be a good investment.

Here’s an overview of the key features of iPlanner—business plan software:

  • Financial forecasting
  • Secure and accessible
  • Data security and backup
  • How to articles and guides

iPlanner’s subscription model consists of two plans: professional and corporate. Professional subscriptions start at $24 for a 3-month subscription with one project, while corporate subscriptions start at $59 for a 6-month subscription with 12 projects.

What I didn't like about iPlanner?

7. PlanGuru

PlanGuru is a business planning software that helps entrepreneurs make better decisions, increase profits, and accomplish their business goals through strategic business planning and accurate forecasting.

Budgeting & financial analytics, rolling forecast, and strategic planning are three critical components of PlanGuru’s feature list.

PlanGuru specializes in forecasting financial statements, scenario analysis, budgeting, and gaining insights through reporting tools.

It offers many advanced financial forecasting features but is quite expensive— making it unsuitable for startups with limited investment capital.

PlanGuru provides a wide range of financial tools and business planning features to create business plans, which may include:

  • Business valuation tool
  • 20+ standard forecast methods
  • Budget/forecast for up to 10 years
  • Archive budget feature
  • Standard report export to PDF, Excel, and Word
  • Custom report builder for Excel
  • Online dashboard, scorecard, and reporting tools

PlanGuru has two different pricing plans; one for businesses and nonprofits and another for business advisors. Depending on the plan specifications and features, these plans may cost between $99 and $299/month.

What I didn't like about PlanGuru?

8. The Business Plan Shop

The Business Plan Shop is a business & financial planning and analysis platform for small and medium-sized business owners and financial advisors.

Its business plan templates make writing a business plan relatively easier for beginners. Despite its many features, the business plan software specializes in financial analysis, forecasting, and KPI tracking.

It surely has a few advanced features but can be expensive for startups and small businesses.

This business plan software provides a wide range of features, which may include:

  • Financial forecasting software
  • Sync accounting data
  • Drag and drop templates and editor
  • Integration with financial data
  • Faster than Microsoft Word

The Business Plan Shop has two different pricing plans; one for businesses and CFOs and another for advisors. The business & CFO plan costs $25.50 per month, and the Advisor plan costs $94.20 per month.

What I didn't like about The Business Plan Shop?

Bizplan is a comprehensive business plan software helping startups, entrepreneurs, and small business owners create business plans with direct access to planning experts. 

Financial tools help create detailed financial projections and financial and cash flow statements in no time, so entrepreneurs can spend more time growing and scaling their businesses.

The platform also has a fundraising tool to help startups connect with potential investors—which has already helped raise over $500 million for startups.

It has all the features to create a basic business plan but may lack industry-specific guidance or assistance.

Let’s have a look at the wide range of features that come with a Bizplan subscription:

  • Financial modeling
  • Integration and export
  • Reporting and presentation
  • Progress tracking
  • Step-by-step guidance

Bizplan’s pricing plans start at $29/month, whereas the lifetime access costs $349. You may check their pricing page for more information.

What I didn't like about Bizplan?

Here are the average user ratings, comparing the experiences on Bizplan and Upmetrics.

Brixx is a financial forecast software for cash flow, budgeting, and financial planning. Apart from helping users create a basic business plan, the platform also helps them with financial modeling, scenario planning, and goal tracking.

Its interactive charts and graphs can help you clearly present your financial data and cash flow statements for enhanced reader understanding.

Integrating Brixx and other accounting software automates the syncing of your actuals and forecasts, giving you a head start using Brixx.

The tool primarily focuses on financial projections and forecasting, so there are only a few features for other parts of the business plan.

Let’s have a look at the wide range of features that come with a Brixx subscription:

  • 1-10 year financial forecasts
  • Professional charts and reports
  • Automated tax forecasts
  • Quick-start templates
  • Share plans in real-time
  • Business Resources
  • 3-way forecasting

Brixx has four packages in its subscription model: Foundation, Essentials, Professional, and Enterprise. The pricing for these packages may range from $0 to $66 per month.

What I didn't like about Brixx?

How to Choose the Right Business Plan Software?

All the business plan tools on our list are credible and can help you create a winning business plan. However, it’s critical to understand each tool specializes in certain aspects of business planning.

Let’s understand which factors to consider while choosing the right tool to help you create a professional business plan:

The most obvious factor. Ask yourself how much you can afford to spend on a business plan maker.

A free or low-cost tool may provide only some necessary functionalities to create a detailed plan. So, figure out your budget and shortlist the tools that you can afford to invest in.

2. Your specific requirements

The next step. Learn your specific requirement. For instance, if your business is in the idea stage, you may not require a tool with advanced financial features like—PlanGuru; Ideabuddy may work.

Both tools cater to specific audiences; if you are not sure, you may go with Upmetrics. It has pricing plans suitable for all business sizes.

3. Business plan templates

Custom designing a business plan can be tedious, so make sure the business plan software you choose has industry-specific templates to help you get started.

4. AI assistance

Artificial Intelligence has revolutionalized the way people get their things done. Make sure you select a platform that also provides AI assistance while creating a business plan.

With tools like ChatGPT and  AI business plan generators,  you can draft a business plan in a breeze.

5. Charts and graphs

Let’s face it, no one likes to read long paragraphs. The tool you choose must be able to turn your financial data and balance sheets into appealing and easy-to-understand charts and graphics.

6. Financial projections

Most critical section of a business plan. Understand your requirement regarding financial projections and the level of features the tool provides.

For instance, a large-scale organization may require a tool that can easily do  business financials  for ten or more years.

7. Contribution and sharing features

Make sure the tool you choose must provide the contribution and sharing features so that you can work with multiple team members.

8. Convenience and user-friendliness

A no-brainer. Ensure the software you choose has a user-friendly user interface and a manageable learning curve to understand all the working features.

9. Integrations

Some of the best business plan software integrates with accounting software. This feature can be handy while transferring financial details into your business plan.

10. Step-by-step guides

These user guides and tutorials can help you easily outline and prepare the first draft of your business plan, so make sure you consider this as one of the factors while selecting a tool.

11. Support

You are new to business planning software and may need help using some of its features. A responsive support team can help you get back on the right track.

Think of these factors as a checklist while researching the right business plan software. Once you have checked off all the boxes, you will have the right business plan software by your side.

Pros and Cons of Using Business Plan Software

Undoubtedly, business plan software can be a worth-it investment for your business, but it surely has a few disadvantages too. Let’s get to that:

  • Time Saving: business plan software can be a big time-saving investment.
  • Step-by-step guidance: These guides make it easier to get started for beginners.
  • Accurate reporting: Good business plan software guarantee the accountability and accuracy of the reports generated.
  • Customizations: Business plan tools also offer options to personalize your reports.
  • Generic templates: These planning tools often provide generic templates that may not suit your requirements.
  • Limited flexibility: In terms of formatting, content, design, and layout.
  • Learning curve: Using these tools requires a learning curve to navigate the software.

There have to be a few disadvantages, but they are negligible when you look at the positive side of having a business plan software onboard.

And this section leads us to our conclusion!

That was the article for today with some of the best business plan software. Now over to you. Revisit the top business planning software on the list, do your research, and select the one that best suits your requirements.

Got any more burning questions in mind? The FAQ section starts right after we wrap this article up, feel free to explore. Happy business planning! 

Other Business Plan Software Alternatives

  • Best 8 Liveplan alternatives
  • Top Bizplan alternatives & competitors
  • 8 Growthink alternatives
  • Best Ideabuddy Alternatives
  • Best Enloop Alternatives

Build Your Business Plan Easily

with step-by-step Guidance & AI Assistance.

crossline

Frequently Asked Questions

What is the best business plan software for startups.

We’ve already mentioned the best business plan software in the blog post earlier; you may choose one amongst those depending on your specific needs.

However, Upmetrics can be a go-to business planning software for startups as it only costs $9 per month to get started—which is worth it against the value you get.

Which tool is used as a one-page business plan?

There are many business plan software providing features to create one-page business plans like—Upmetrics and Ideabuddy. You can use Upmetrics’ canvas modeling feature to develop actionable and entrepreneur-focused one-page business plans.

Can I write a business plan myself?

Of course, you can. It’s easier than ever to write a business plan with the emerging use of tools like ChatGPT. Though you can write a business plan, you need assistance making it presentable for your investors.

And business plan software providers like Upmetrics can help you do that. With 200+ sample business plans, you can easily write the first draft of your business plan.

What is the best way to write a business plan?

There cannot be a standard answer to this question. There are various business planning processes, and all of them might not work for you. Still, considering the time-saving approach, using an industry-specific template and editing it as per your requirements can be an easy way to write a business plan.

Using ChatGPT for business plan writing can also be one of the best ways to write a business plan. As mentioned, there can’t be a specific answer to this question; find a way that best suits your needs.

Is there any free business plan software available?

It’s really challenging to find the perfect business plan software, that too, for free. IdeaBuddy from our list has a free plan, but it comes with very limited features, not so helpful for creating a business plan.

Business plan software like Upmetrics, Bizplan, and LivePlan also have free trials, so you may try their features before purchasing. Furthermore, you can get a 30% off on an Upmetrics subscription if you are a nonprofit or student.

How much does business plan software typically cost?

The cost of a business plan software can widely depend on the level of features and functionalities they provide. Still, the monthly subscription of a business plan tool can range anywhere between $5 to $300.

About the Author

Ajay                                                         Jagtap

Ajay Jagtap

Ajay is a SaaS writer and a personal finance blogger. He loves to write about topics related to startups, businesses, money-making, and personal finances. If not writing, he’s probably having a power nap. Read more

What I didn’t like about Notion AI?

trustpilot reviews

Popular Templates

Livewell

Financial Tips, Guides & Know-Hows

Home > Finance > Creating a Winning Business Plan: Tips and Tools for Small Businesses

Creating a Winning Business Plan: Tips and Tools for Small Businesses

Creating a Winning Business Plan: Tips and Tools for Small Businesses

Published: February 19, 2024

Discover essential tips and tools for crafting a winning business plan. Learn key components for success and resources to support small businesses.

(Many of the links in this article redirect to a specific reviewed product. Your purchase of these products through affiliate links helps to generate commission for LiveWell, at no extra cost. Learn more )

Table of Contents

Key components of a successful business plan, tools and resources for drafting a winning business plan.

The journey of every successful small business begins with a solid foundation—a comprehensive and strategic business plan . It outlines your business goals, strategies for achieving them, the potential problems you might face, and ways to solve them. In essence, a well-crafted business plan serves as a roadmap for success and a tool for securing financing.

Executive Summary

The Executive Summary is arguably the most critical part of your business plan. It’s your first (and sometimes only) opportunity to make a good impression on potential investors or lenders. This section should succinctly summarize what your business does, your mission statement, your business model, significant achievements like patents or prototypes, and your financial highlights. It should also outline your goals and how your business plans to achieve them. The executive summary must be compelling, persuasive, and clear, setting the tone for the rest of the document.

Business Description

In the Business Description , you delve deeper into what your company does and the market needs it meets. This section should provide a detailed overview of your business and its structure, the history behind its formation, the mission, and vision. Discuss the specific problem your product or service solves and why it is important. Detail the current marketplace and how your business positions itself within it. Highlighting your unique value proposition here is key to differentiating your business from competitors.

Market Analysis

A thorough Market Analysis demonstrates your knowledge about the industry, your target market, and your competitors. It includes:

  • Industry Description and Outlook : Detail the current state of the industry, including trends, size, and growth prospects.
  • Target Market : Define your target market’s size, demographics, psychographics, purchasing habits, and how you plan to reach them.
  • Competitive Analysis : Identify your competitors, their strengths and weaknesses, market share, and how you plan to differentiate your business.
  • Market Test Results : If applicable, include any research or test results that validate your business concept.

This section validates the demand for your product or service, backed by data and research.

Organization and Management

This section outlines your company’s organizational structure , detailing the roles and responsibilities of the management team, key employees, and owners. For each person, include a brief biography that highlights their relevant experience and skills. If you have a Board of Directors, introduce each member and explain their contribution to your business. This part should reassure stakeholders that your team has the necessary expertise to execute the business plan successfully.

Products or Services

Here, describe in detail the products or services you offer or plan to offer. This should cover:

  • Product/Service Description : What you sell or provide, how it works, and the primary benefits.
  • Development Stage : Current status of your product/service, including development, testing, or on the market.
  • Product Lifecycle : Discuss where your offering stands in its lifecycle and any future upgrades or developments planned.
  • Intellectual Property : Mention any patents, trademarks, or copyrights securing your product/service.

This section showcases the uniqueness of your product or service and its advantage in the market.

Marketing and Sales Strategy

Your Marketing and Sales Strategy should outline how you intend to reach your target market and convert potential customers into actual ones. This includes:

  • Marketing Plan : Your strategies for branding, advertising, promotions, and pricing. Explain how you plan to use these tools to position your business in the market.
  • Sales Strategy : Describe how you will sell your product or service, whether through direct sales, online, retailers, or distributors. Include sales targets and key sales activities.
  • Customer Engagement : Discuss how you plan to engage with your customers, build loyalty, and encourage repeat business.

Effective marketing and sales strategies are crucial for attracting and retaining customers, driving revenue, and achieving business growth.

Funding Request

If you are seeking funding, the Funding Request section should clearly state how much funding you need over the next five years and for what purposes (e.g., capital expenditures, working capital, debt retirement). Be specific about the type of funding you are seeking (loans, equity investment) and the terms you wish to secure. Also, outline your future financial plans, such as paying off debt or selling the business.

Financial Projections

Financial Projections are vital for showing the financial viability of your business to investors or lenders. This section includes:

  • Income Statements : Project your revenues, expenses, and profits for the next three to five years.
  • Cash Flow Statements : Demonstrate how cash is expected to flow in and out of your business, showing your ability to manage cash and cover expenses.
  • Balance Sheets : Provide a snapshot of your business’s financial position at specific points in time.
  • Break-even Analysis : Calculate the point at which your business will become profitable.

These projections should be realistic and supported by data. Including best-case and worst-case scenarios can also provide valuable insights into your business’s potential financial performance.

The Appendix supports the main sections of your business plan with additional documents and data. This might include resumes of key personnel, detailed market research, legal documents, product pictures, marketing materials, and any other relevant information that provides further credibility to your business plan.

Each component of the business plan plays a crucial role in painting a comprehensive picture of your business, its vision, and its strategy to succeed. By meticulously addressing each section, you ensure that readers not only understand your business concept but also the detailed planning and research that backs its potential for success.

Creating a business plan can seem daunting, but several tools and resources can make the process easier and more efficient, ensuring that how to manage paperwork for a small business is not a cumbersome task.

Business Plan Software

  • LivePlan : Offers step-by-step guidance and samples to help you craft your plan.
  • Bizplan : A modern business planning platform with drag-and-drop templates.

These tools simplify the process, from drafting to presentation, ensuring your plan is professional and comprehensive.

Tax Planning and Financial Management Tools

Utilizing the best tax planning software for small business can significantly ease the financial management burden. Tools like TurboTax and FreshBooks offer tailored solutions for small businesses, helping manage finances and taxes more efficiently.

Online Workshops and Templates

Numerous online platforms offer free workshops, webinars, and templates to support small businesses freely . The Small Business Administration (SBA) website is a treasure trove of resources, including a business plan tool that guides you through the process.

Professional Advisors

For personalized guidance, consider hiring a professional business plan writer or consultant. They can provide valuable insights and ensure your plan is aligned with your business goals.

A winning business plan is more than just a document; it’s a reflection of your vision, strategy, and the steps you’ll take to achieve success. By focusing on the key components and leveraging the right tools and resources, you can create a compelling business plan that not only attracts investors but also serves as a crucial guide for your business’s journey. Remember, the time and effort you invest in your business plan today can significantly impact your small business’s trajectory, ensuring it delivers the best return on investment for small businesses .

img

Tuck School Of Business Definition

img

Wisconsin School Of Business Definition

img

20 Quick Tips To Saving Your Way To A Million Dollars

img

Our Review on The Credit One Credit Card

img

What Is Pension Reform

img

Distribution Waterfall Definition

Latest articles.

img

How Virtual Tours are Changing the Real Estate Landscape

Written By:

img

What Is An Insurance Policy Grace Period?

img

How Long Is The Grace Period For Health Insurance Policies With Monthly-Due Premiums?

img

How Long Is The Grace Period On Car Payment?

Related post.

What Happens To Small Business Loan If Business Fails?

By:  •  Finance

When Were Defined Contribution Plans Created

Please accept our Privacy Policy.

We uses cookies to improve your experience and to show you personalized ads. Please review our privacy policy by clicking here .

  • https://livewell.com/finance/creating-a-winning-business-plan-tips-and-tools-for-small-businesses/

Seriosity

7 Business Planning Software Tools Every Entrepreneur Needs

seriosity featured image

Starting your own business is an exciting journey, but it can also be a bit overwhelming. You’ve got ideas, goals, and dreams, but how do you turn them into a solid plan? That’s where business planning software comes in. It’s like having a personal advisor on your computer, guiding you through the maze of business strategy and financial planning.

In today’s fast-paced world, having the right tools at your fingertips isn’t just helpful; it’s essential. Whether you’re a budding entrepreneur or looking to scale your existing business, there’s a software tool out there tailored to your needs. We’ve rounded up 7 of the best business planning software tools to help you craft a winning strategy. From budgeting to forecasting, these tools cover all the bases, making the planning process a breeze.

Key Takeaways

  • Business planning software tools are essential for growing a successful business, offering benefits such as improved efficiency, accuracy, performance tracking, and enhanced collaboration.
  • Budgeting software provides dynamic financial planning capabilities, enabling real-time adjustments and fostering team alignment on financial goals.
  • Forecasting software utilizes advanced algorithms for accurate financial projections, facilitating informed decision-making and strategic planning.
  • Market research tools offer detailed insights into target audiences and market trends, allowing businesses to tailor their offerings and strategies for maximum impact.
  • Competitive analysis software reveals real-time insights into competitors’ strategies, helping businesses stay one step ahead in their industry.
  • Project management and collaboration tools streamline task organization and communication, fostering a productive and cohesive team environment.
  • Reporting and analytics software turns data into actionable insights, enabling businesses to track performance, identify growth opportunities, and make data-driven decisions.

Benefits of Using Business Planning Software Tools

Starting your entrepreneurial journey, you’re always on the lookout for tools and methods that can streamline your process and lead you toward success. Business planning software tools are your ally in this venture, providing clarity and direction in the otherwise chaotic early days of building a business.

Firstly , these tools can significantly enhance your efficiency. Remember the days you’d spend hours on spreadsheets, trying to make sense of your finances and forecasts? With business planning software, those days are behind you. These platforms offer templates and frameworks that simplify creating business plans, financial projections, and reports. You no longer have to start from scratch, saving you time and energy that you can redirect into growing your business.

Secondly , accuracy is crucial in business planning, and that’s another area where these tools shine. They come equipped with algorithms that can help predict financial outcomes with a greater degree of precision. This is vital when you’re presenting your business plan to potential investors or lenders. Convincing stakeholders requires more than just passion; it requires hard numbers that paint a compelling picture of your business’s potential.

Moreover, these tools often include analytics features that allow you to track your performance over time. This isn’t just about knowing where your business stands today; it’s about understanding trends that can inform your decisions moving forward. In the fast-paced world of startups, being agile and responsive to data can make all the difference.

Lastly, collaboration is another significant benefit. Many of these tools are cloud-based, enabling you and your team to work on your business plan together, from anywhere. This fosters a culture of transparency and collective effort towards achieving your business goals. When everyone is on the same page, driving your business forward becomes a more unified and efficient process.

Embracing business planning software tools can transform the way you approach your business strategy, making your journey less stressful and more successful. With the right tools at your disposal, you’re better positioned to navigate the complexities of the business world and scale your enterprise effectively.

Tool 1: Budgeting Software for Effective Financial Planning

When you’re elbow-deep in the world of startups and side-hustles, every penny counts — literally. And that’s where a robust budgeting software steps in, shining as your financial beacon. It goes beyond traditional spreadsheets, offering you a dynamic platform to plan, monitor, and adjust your financial strategy in real-time. Trust me, it’s a game-changer.

Imagine having an eagle-eye view of your cash flow, being able to predict financial bottlenecks before they happen, and adjusting your spending with a few clicks. That’s the beauty of these tools; they give you unparalleled control over your business’s financial health. Plus, they often come with delightful extras like visual dashboards and predictive analytics, turning the dreaded task of budgeting into a straightforward, even enjoyable process.

But here’s the silver lining: budgeting software isn’t just about keeping your finances in check. It’s a strategic partner helping you to identify where to allocate resources for maximum impact . Think marketing campaigns, product development, or maybe an unexpected opportunity. You’ve got the insights right at your fingertips to make informed decisions swiftly.

Moreover, integrating these tools into your operation can enhance team collaboration. Everyone from finance to marketing can align on financial goals and outcomes, fostering a cohesive strategy towards your business ambitions. No more silos or miscommunications, just a unified front pushing towards success.

Remember, in the fast-paced startup world, being financially agile is non-negotiable. Embrace budgeting software as your ally, and you’re not just surviving; you’re thriving.

Tool 2: Forecasting Software for Accurate Future Projections

When you’re knee-deep in the entrepreneurial world, navigating through the uncertain waters of startups and exploring the expanses of side-hustles, every decision counts. That’s where forecasting software steps in, a beacon for your business’s future. Imagine having a crystal ball that offers a glimpse into the financial future of your venture— forecasting software is the next best thing.

This software isn’t just about making educated guesses; it’s about providing data-driven projections that are crucial for your business’s longevity and growth. With advanced algorithms and machine learning, these tools can analyze past and current financial data to predict future revenue, expenses, and cash flow with astonishing accuracy. Whether you’re planning to expand, pivot, or stay the course, having a clear forecast can make all the difference.

  • Scenario Analysis: One of the standout features you’ll need is the ability to compare different business scenarios side by side. This way, you can prepare for multiple outcomes and ensure your business remains resilient no matter what the future holds.
  • Real-Time Data Syncing: In the fast-paced world of online businesses and side-hustles, stale data just won’t cut it. You need software that syncs with your financial accounts in real-time, providing up-to-the-minute financial insights.
  • Collaborative Forecasting: Since success often hinges on teamwork, your forecasting tool should facilitate collaboration. Look for options that allow team members to input data, share insights, and contribute to a unified financial strategy.

By integrating forecasting software into your business planning toolkit, you’re not only securing a better understanding of where your business could be headed but also equipping yourself to make informed decisions every step of the way. In the dynamic landscape of startups and online ventures, these informed decisions are your ladder to climbing higher in the realm of success.

Tool 3: Market Research Tools for Analyzing Target Audience

Diving into the world of entrepreneurship, you quickly learn that understanding your target audience is not just beneficial; it’s crucial . With market research tools, the dive becomes less daunting and more exciting. These tools are designed to slice through the data fog, offering clear insights into who your potential customers are, what they desire, and how they behave online.

Imagine having a compass that leads you directly to your audience’s heart. Market research tools are that compass. They enable you to tailor your products or services with precision, ensuring that every marketing dollar you spend is an investment, not an expense. Data Is King in today’s market, and these tools offer you the crown and scepter.

  • Key Features to Look for in Market Research Tools:
  • Demographic analysis to pinpoint who your audience is
  • Behavioral insights to understand how your audience interacts with similar products
  • Competitor analysis to see how you stack up against others in your niche
  • Trend identification to stay ahead of market curves

One of the greatest strengths of these tools is their ability to uncover niches within niches. You might start with a broad target in mind, only to discover a rich vein of untapped potential in a subgroup you hadn’t considered. This detailed segmentation allows for highly focused and personalized marketing strategies that can significantly increase conversion rates and customer loyalty.

Moreover, the integration of AI and machine learning means that the more you use these tools, the smarter they get. They adapt to the shifting landscapes of your market, providing you with up-to-date information that can inform not just your marketing but your product development as well.

Incorporating market research tools into your arsenal equips you to create a business that resonates deeply with your audience. After all, the core of any successful business lies in solving real problems for real people. And what better way to uncover those problems than by diving deep into the data that your future customers generate every day?

Tool 4: Competitive Analysis Software for Staying Ahead

In the entrepreneurial world, knowing your competition is not just an advantage; it’s essential for survival. As someone who’s dived deep into online businesses, startups, and side-hustles, you understand that success means staying one step ahead. That’s where Competitive Analysis Software comes in, a tool that’s as crucial to your arsenal as your passion for success.

At its core, Competitive Analysis Software helps you peek over the proverbial fence to see what your competitors are up to. But it’s not about copying or one-upmanship. Instead, think of it as gaining inspiration and understanding the market’s pulse. You get insights into their strategies, sales, and marketing efforts, allowing you to identify opportunities and threats in real-time.

Here’s what you stand to gain:

  • Real-Time Market Insights : Instantly know when a competitor launches a new product, tweaks an existing one, or adjusts their pricing strategy. It’s like having a bird’s-eye view of the battlefield, ensuring you’re never caught off guard.
  • Strategic Planning Assistance : By understanding your competitors’ moves, you can better strategize your next steps. Whether it’s a pivot in your product offering or a change in your marketing approach, informed decisions are always better decisions.
  • Benchmarking Your Business : See how your business stacks up against others in your industry. It’s not just about understanding your position but also setting tangible goals for growth and improvement.

The beauty of Competitive Analysis Software is not just in what it reveals about others, but in how it empowers you to refine your strategies. You’ll never find yourself blindly charting a course again. Instead, you’ll navigate the competitive landscape with precision, leveraging data to underscore your every move.

Tool 5: Project Management Software for Organizing Tasks

As an entrepreneur, you’re constantly juggling multiple tasks. There’s always a new challenge around the corner, whether you’re scaling your online business , launching a startup, or experimenting with the latest side-hustle. That’s where project management software steps in, a game-changer for organizing your tasks efficiently.

When you dive into the world of project management software, you’ll find it’s not just about keeping tasks in order. It’s a powerhouse for collaboration, allowing your team to stay on the same page, share updates in real-time, and work together seamlessly, no matter where they are in the world. This aspect alone can transform how your business operates, making it more agile and responsive.

One of the most compelling benefits of project management tools is their ability to break down complex projects into manageable parts. You can assign tasks, set deadlines, and track progress, all within a single platform. This clarity not only boosts productivity but also ensures nothing falls through the cracks. Imagine launching your next big idea and having every detail, from concept to completion, organized and accessible. This level of organization is what makes project management software indispensable.

Moreover, many project management tools come with built-in analytics. You can Measure Your Team’s Performance, identify bottlenecks, and adjust your strategy accordingly. This data-driven approach to management allows you to make informed decisions that propel your business forward.

Integrating project management software into your toolkit is akin to having a central command center for your business operations. Whether you’re coordinating the launch of a new product, managing your content calendar, or keeping track of your side-hustles, this tool enables you to view the big picture and micromanage details with ease.

Tool 6: Collaboration Tools for Teamwork and Communication

As an entrepreneur, you know the drill – a well-coordinated team is the backbone of a successful business. That’s where collaboration tools come into play, making them an essential part of your entrepreneurial toolkit. These tools aren’t just about keeping everyone on the same page; they’re about enhancing teamwork and communication in ways you might not have thought possible. Let’s dive into how they can transform your business operations.

First off, collaboration tools streamline communication. Forget about back-and-forth emails or losing track of conversations in endless message threads. With features like instant messaging, discussion forums, and video calls, your team can communicate efficiently, ensuring that ideas and feedback are exchanged in real-time.

Moreover, file sharing and co-editing capabilities are game-changers. They allow multiple team members to work on the same document simultaneously, leading to a more dynamic way of working together. Whether it’s a marketing plan or a project proposal, collaboration tools make it easier for your team to contribute, edit, and finalize documents together.

But it’s not just about making communication easier. These tools help create a sense of community within your team. When you’re running a remote operation or juggling multiple side hustles, it can be challenging to maintain a strong team culture. Collaboration tools bridge that gap. They provide spaces for casual conversations, team building activities, and even virtual coffee breaks, helping your team feel connected, no matter where they are.

Incorporating collaboration tools into your business is straightforward. Many offer scalable solutions that grow with your business, ensuring that you’re investing in a tool that supports your team’s needs at every stage. Remember, the right collaboration tool not only enhances productivity but also fosters a culture of open communication and teamwork.

Tool 7: Reporting and Analytics Software for Tracking Progress

Discovering the right reporting and analytics software is like hitting the jackpot for any entrepreneur. Think of it as your business’s compass, guiding you through a sea of data to uncover hidden treasures of insights. This tool is essential, as it provides a clear view of your company’s performance and pinpoints areas for improvement.

When selecting reporting and analytics software, look for features that suit your unique business needs. Key functionalities to consider include:

  • Customizable Dashboards: Tailor your dashboard to highlight the metrics most critical to your business.
  • Real-time Analytics: Gain instant insights into your business operations, making it easier to make informed decisions on the fly.
  • Trend Analysis: Understand not just where your business stands today, but also where it’s headed in the future.

One of the most transformative aspects of using reporting and analytics software is its ability to turn raw data into actionable insights. Imagine having the power to predict customer behavior, streamline operations, and boost your bottom line, all from the convenience of your digital device.

Incorporating this tool into your arsenal not only propels your business forward by making data-driven decisions but also sets you apart from competitors who might still rely on gut feelings or outdated methods. Embrace the data-driven culture, and let the numbers guide your path to success.

Remember, the journey of entrepreneurship is all about continuous learning and adaptation. By leveraging the strengths of reporting and analytics software, you’re equipped to navigate challenges more effectively and seize opportunities that others might miss. It’s more than just a tool; it’s your ally in the quest for growth and efficiency.

Choosing the right business planning software is a game-changer for any entrepreneur. With tools that cover everything from budgeting to competitive analysis, you’re equipped to navigate the complexities of the business world. Remember, incorporating reporting and analytics into your toolkit isn’t just about keeping up—it’s about staying ahead. It’s about transforming numbers into strategies and insights into actions. So, dive into these tools, embrace a data-driven approach, and watch your business soar to new heights. Your journey to success is just a few clicks away.

Frequently Asked Questions

What are the key software tools for entrepreneurs mentioned in the article.

The key software tools for entrepreneurs highlighted in the article include business planning software, budgeting software, forecasting software, market research tools, competitive analysis software, project management software, and reporting and analytics software.

Why is reporting and analytics software important for businesses?

Reporting and analytics software is crucial because it provides a clear view of a company’s performance, helps entrepreneurs make informed decisions, and turns raw data into actionable insights. It is essential for propelling a business forward and setting it apart from competitors.

How does forecasting software benefit a business?

Forecasting software helps businesses by predicting future trends and outcomes based on historical data. This information allows entrepreneurs to make well-informed decisions regarding product development, sales strategies, and market opportunities, leading to improved business planning and reduced risks.

What is the importance of a data-driven culture in business?

Embracing a data-driven culture is important because it leads to making decisions based on data and analytics instead of intuition. This approach ensures that businesses are guided by facts, which can significantly improve strategy, increase efficiency, and ultimately lead to better outcomes and success.

Can competitive analysis software give a business a competitive edge?

Yes, competitive analysis software provides valuable insights into competitors’ strategies, strengths, and weaknesses. This information allows businesses to identify unique opportunities, differentiate themselves in the market, and develop strategies that give them a competitive edge.

Share this with your friends...

About the author.

John Prince Seriosity Writer

John Prince

You might like these articles as well....

Best Crowdfunding Sites for Startups

Best Crowdfunding Sites for Startups: Top Platforms Compared

types of startups

Different Types of Startups: A Comprehensive Guide

Startup ideas for social entrepreneurs: change the world today, best industries for startups: top sectors where you can thrive.

  • Starting a Business
  • Growing a Business
  • Business News
  • Science & Technology
  • Money & Finance
  • Subscribers For Subscribers
  • Store Entrepreneur Store
  • Spotlight Spotlight
  • United States
  • Asia Pacific
  • Middle East
  • South Africa

Copyright © 2024 Entrepreneur Media, LLC All rights reserved. Entrepreneur® and its related marks are registered trademarks of Entrepreneur Media LLC

JUST RELEASED: View the 2024 Franchise 500 Ranking

Here Are the Essential Tools Every Entrepreneur Needs to Succeed in 2024 Boost your business in the upcoming year with these valuable tools.

By Roy Dekel • Dec 19, 2023

Key Takeaways

  • Essential tools ranging from project management, marketing automation, analytics, SEO, scheduling, freelancing, communication and design to help your business succeed in 2024

Opinions expressed by Entrepreneur contributors are their own.

In the fast-paced and ever-evolving world of entrepreneurship , leveraging the right tools is crucial for efficiency, collaboration and growth. As we navigate through 2024, entrepreneurs have at their disposal an array of powerful tools that can streamline operations, enhance marketing efforts and foster seamless communication.

In this comprehensive guide, we'll explore essential tools every entrepreneur should know about, spanning project management, marketing automation, analytics, SEO, scheduling, freelancing, communication and design.

Related: 17 Essential Tools for Entrepreneurs

1. Project management

Trello and Asana: Trello and Asana stand out as indispensable project management tools , helping entrepreneurs organize tasks, track progress and foster collaboration among team members. Trello's intuitive card-based system allows for easy project tracking, while Asana provides robust features for project planning, task assignment and team communication. Both platforms offer flexibility and scalability to meet the needs of businesses of all sizes.

2. Marketing automation

Mailchimp: For entrepreneurs looking to streamline their email marketing efforts, Mailchimp is a go-to tool. With features like email campaigns, audience segmentation and analytics, Mailchimp simplifies the process of creating and managing effective email campaigns. Its user-friendly interface makes it accessible to entrepreneurs with varying levels of marketing expertise.

3. Analytics

Google Analytics: Understanding user behavior and website performance is integral to business success. This robust analytics platform provides comprehensive insights into website performance, user behavior and the effectiveness of online marketing efforts. Entrepreneurs can track key metrics such as website traffic, audience demographics and conversion rates, enabling them to understand what resonates with their audience and refine their strategies accordingly.

With the ability to analyze the success of marketing campaigns, identify high-performing content and uncover areas for improvement, Google Analytics empowers entrepreneurs to make data-driven decisions, optimize their digital presence and ultimately drive business growth in an increasingly competitive online landscape.

SEO tools (e.g., SEMrush or Ahrefs): Search Engine Optimization (SEO) is paramount for online visibility, and tools like SEMrush or Ahrefs offer comprehensive solutions. Such tools empower entrepreneurs to conduct in-depth keyword research, analyze competitor strategies and optimize their website content for search engines. By understanding the intricacies of search engine algorithms and trends, entrepreneurs can tailor their online presence to rank higher in search results , attract organic traffic and stay ahead of competitors.

This not only amplifies brand visibility but also increases the likelihood of attracting qualified leads and customers. In essence, an SEO tool is an indispensable ally for entrepreneurs aiming to strengthen their digital footprint, improve website performance and foster sustainable growth in the highly competitive online marketplace.

5. Scheduling

Calendly: Efficient scheduling is crucial for entrepreneurs juggling multiple tasks. Calendly simplifies the appointment and meeting scheduling process by allowing entrepreneurs to share their availability and let others book time slots that suit both parties. This eliminates the back-and-forth of scheduling emails, saving valuable time.

Related: 20 Time-Saving Tech Tools for Solopreneurs that Boost Efficiency, Productivity and Business Growth

6. Freelancing

Upwork: Entrepreneurs often need specialized skills for specific projects, and Upwork connects them with a global pool of freelancers. From graphic design to programming, entrepreneurs can find qualified professionals to meet their project requirements. Upwork streamlines the hiring process, ensuring entrepreneurs can quickly assemble the right team for their needs.

7. Communication

Slack: Effective communication is the backbone of any successful business, and Slack facilitates seamless team collaboration. With features like channels, direct messages and integrations with other tools, Slack provides a centralized hub for communication. Entrepreneurs can create channels for different projects or teams, keeping conversations organized and accessible.

8. Marketing design

Canva: Entrepreneurs often find themselves in need of visually engaging content for marketing materials, social media or presentations. Canva simplifies the design process with its user-friendly interface and a vast library of templates. Entrepreneurs can create professional-looking graphics without the need for extensive design skills.

9. Online advertising

Google AdWords: For entrepreneurs looking to expand their online reach through paid advertising and drive targeted traffic to their websites, Google AdWords is a game-changer. As a powerful online advertising platform, Google AdWords enables entrepreneurs to create targeted and highly customizable ads that appear in Google search results. By strategically bidding on relevant keywords, entrepreneurs can ensure their advertisements are presented to users actively searching for products or services they offer. This not only enhances visibility but also allows for precise targeting, maximizing the return on investment.

With detailed analytics and performance metrics, entrepreneurs can refine and optimize their ad campaigns in real time, ensuring their marketing budget is effectively utilized to attract potential customers. Google AdWords is a pivotal tool for entrepreneurs seeking immediate and measurable results in the competitive world of online advertising.

Related: 10 Free Marketing Tools Every Entrepreneur Can Use

In the dynamic landscape of entrepreneurship, staying ahead requires not only vision and dedication but also the right set of tools. Trello, Asana, Mailchimp, Google Analytics, SEO tools, Calendly, Upwork, Slack, Canva and Google AdWords represent a curated selection of tools that cater to various aspects of running and growing a business . Whether managing projects, optimizing online presence or fostering team collaboration, entrepreneurs can harness the power of these tools to navigate challenges and propel their ventures toward success in 2024 and beyond. As technology continues to evolve, entrepreneurs should stay vigilant for emerging tools that can further enhance their operations and contribute to their business growth.

Entrepreneur Leadership Network® Contributor

CEO of SetSchedule

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick Red Arrow

  • Three Buddies Wanted to Have a Better Time at an Outdoor Festival. Their Invention Turned Into a $43 Million Business .
  • Lock This Fun, Flexible Side Hustle Pays $35 an Hour and Gets You Into Exclusive CEO Summits, Music Festivals, and Sports Events
  • 3 Hacks That Can Help You Get High-Quality Matches on Dating Apps , According to the Lead Engineer Behind a Very Exclusive One
  • Lock This Retirement Trend Is Helping People Ease 'Financial Anxieties' and Avoid 'Loss of Purpose,' Workplace Expert Says
  • Lock These 3 Quotes From Jeff Bezos Will Change How You Run Your Business
  • The Job Is Finished, Now What? 7 Lessons and Cautionary Tales About Life After Power From Former Presidents .

Related Topics Red Arrow

Most popular red arrow, mastering the skill of convincing stakeholders to approve and execute ideas.

There's a big difference between approval-seeking and being your own biggest advocate.

A Company Will Pay You $10,000 to Give Up This Everyday Object for Just 1 Month — But You Might Feel 'Uneasy' Without It

It's "a new kind of 'Dry January.'"

These Are the Highest-Paying Side Hustles for a Single Day of Work

Earn the most money in the least amount of time.

TikTok's CEO Is an Honorary Chair at the 2024 Met Gala

Conde Nast's Chief Content Offer, Anna Wintour, made the announcement Thursday.

For Years, This Black Founder Learned an Uncommon But Essential Craft on the Side. Now His Creations Are Beloved By Celebrity Chefs — and Can Sell for More Than $1,000.

A chance encounter with a legendary knifemaker would lead Quintin Middleton, owner of Middleton Made Knives, to follow his long-time passion into business.

3 Business Basics to Remember in 2024

Here are three fundamental tips that will help every SMB this year.

Successfully copied link

comscore

Everything that you need to know to start your own business. From business ideas to researching the competition.

Practical and real-world advice on how to run your business — from managing employees to keeping the books.

Our best expert advice on how to grow your business — from attracting new customers to keeping existing customers happy and having the capital to do it.

Entrepreneurs and industry leaders share their best advice on how to take your company to the next level.

  • Business Ideas
  • Human Resources
  • Business Financing
  • Growth Studio
  • Ask the Board

Looking for your local chamber?

Interested in partnering with us?

Run » human resources, is it time to automate your business here are 18 tools that can help.

Turn your inefficient workflows into streamlined processes with no-code automations. Here are solutions for your finance, HR, sales, and customer success teams.

 A woman sits at a table in a narrow workshop space or storage room. The woman has one hand on the keyboard of her laptop, and she is wearing ripped jeans and a blue-and-white striped button-up shirt over a light pink T-shirt. The walls in the room are lined with shelves that hold cardboard boxes and rolls of paper.

Every small business owner could use a few more minutes (or hours) in their day. With business automation , you can free up hours while improving customer and employee experiences. These tools don’t require specialized knowledge or coding experience. Most offer drag-and-drop editors for custom workflows or automate basic activities, from recurring invoices to weekly progress reports. Use this guide to find applications to support your staff and reclaim your time.

Financial and cash flow automations

An American Express survey found that 68% of small business owners want “to spend less time managing their business’ cash flow.” Financial management and accounting programs automate many processes, from reconciling bank statements to sending reports. You can streamline invoice, expense, and payroll workflows by automating approval processes, pre-populating form data, and automatically matching submissions to receipts.

Consider accounting software , such as:

  • QuickBooks Online: Automatically invoice customers, process credit card payments, or send reminders with QuickBooks Online .
  • Zoho Books: Use Zoho Books to filter and categorize transactions or automate payment reminders.
  • Xero: Automatically code bank transactions or remind customers of upcoming payments with Xero .

[ Read more: CO— Strategy Studio: Managing Your Cash Flow ]

Small business operations and project management

Create custom workflows with workforce and project management software solutions. You can schedule recurring alerts to ensure projects stay on track or automatically route time sheets to payroll. These platforms work well for portfolio, resource, and project management.

A design agency could set up content approval workflows. Each time a team member completes a task, the system notifies the next person and assigns them a task and deadline. The software automatically updates managers and clients or alerts employees of upcoming deadlines or overdue tasks. Likewise, a small business owner with remote employees may use project management software for workload capacity planning, collaboration, and scheduling.

Automate your business with platforms like:

  • Monday.com: Initiate calendar events, emails, or follow-up tasks with Monday.com . The Standard plan includes 250 automated actions monthly.
  • Trello: Streamline workflows with automated approval workflows, Slack posts, or help desk ticket creation. No-code automation comes with free and paid Trello plans.
  • Smartsheet: Use pre-built workflow templates to set due date reminders or status requests. Smartsheet provides 100 automations on its free plan.
  • Clickup: Choose from over 100 automations or create custom workflows with Clickup . The free version supports 100 actions and 50 rules.

Stay on top of your sales and marketing activities with automated email sequences, lead assignments, and updates.

Customer success and support services

Help desk software enables small businesses to respond to customer requests sooner, route tickets to the correct employees, and remind agents to follow up. It eliminates bottlenecks and improves customer experiences. These tools can integrate with your business phone system and customer relationship management (CRM) programs, reducing repetitive data entry.

Check out the following software options:

  • Freshdesk: Leverage AI-powered automations in Freshdesk to auto-assign tickets, manage dependencies, and update customers.
  • Zendesk: Establish up to 500 active automations with Zendesk . Alert agents about unassigned or unresolved tickets or automatically find abandoned requests.
  • Zoho Desk: With Zoho Desk , companies can automatically assign tickets, filter according to customer sentiment, and request feedback.
  • Intercom: Use Intercom’s visual automation builder and pre-built templates to customize booking and return processes.

Human resources workflows

HR teams benefit from artificial intelligence (AI) and automation in hiring, onboarding, time and attendance, and payroll workflows. For instance, HR can automate many parts of the onboarding process, from welcome emails to software provisioning. After an employee e-signs new hire forms, your payroll software reports their status to government agencies. Workflow automation tools can introduce the new team member to your Slack channel and assign training tasks.

Simplify HR workflows with automation tools like:

  • BambooHR: Create paid time off (PTO), compensation, and expense approval workflows with BambooHR . It’s an all-in-one platform for automating hiring, onboarding, and payroll.
  • Rippling: Update internal and third-party systems with Rippling . It supports one-step or daisy-chained workflows for your entire organization.
  • Gusto: You can put payroll on autopilot with Gusto . In addition, Gusto will automatically remit employment taxes and sync payroll to holiday pay and PTO.

[ Read more: 8 HR Technology Trends for Innovation in 2023 ]

Sales and marketing processes

Stay on top of your sales and marketing activities with automated email sequences, lead assignments, and updates. With fewer administrative tasks, your staff can focus on core duties, like interacting with prospects and deepening relationships. Aside from automation, most CRMs offer AI tools to collect data and enhance campaigns.

Automate sales and marketing with these small business CRM tools :

  • HubSpot: Build relationships with customers even when your office is closed. Use HubSpot to configure automated email responses to form submissions and send anonymous visitor data to your contacts database
  • Freshsales: Help your sales team manage outreach with automated outbound campaigns by Freshsales . It supports touchpoints like phone calls, emails, and text messaging.
  • Zoho CRM: Send personalized text notifications to confirm orders, schedule sales tasks, automate emails, and update contact fields with Zoho CRM .
  • Monday Sales CRM: No-code automations can notify sales reps when a lead opens an email or converts to a customer. Monday Sales CRM helps small businesses automate the entire sales pipeline.

CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here .

business planning tools

Subscribe to our newsletter, Midnight Oil

Expert business advice, news, and trends, delivered weekly

By signing up you agree to the CO— Privacy Policy. You can opt out anytime.

For more HR tips

Is it time to automate your business here are 18 tools that can help, full-time employees vs. independent contractors: what’s the difference, unlocking the creative potential: strategies to inspire employee innovation.

By continuing on our website, you agree to our use of cookies for statistical and personalisation purposes. Know More

Welcome to CO—

Designed for business owners, CO— is a site that connects like minds and delivers actionable insights for next-level growth.

U.S. Chamber of Commerce 1615 H Street, NW Washington, DC 20062

Social links

Looking for local chamber, stay in touch.

9 Top Predictive Analytics Tools (2024)

business planning tools

A good predictive analytics tool can transform the way you plan for events and opportunities in business.

Whether you're interested in using machine learning to manipulate data or you're in need of a no-code tool, the nine options on this list are some of the best predictive analytics software programs on the market today.

1. IBM SPSS

IBM SPSS is a predictive analytics and data mining tool.

undefined

It includes several different tools for analyzing data, including the SPSS modeler. The modeler is a drag-and-drop interface that lets anyone predict future outcomes related to:

  • Supply chains
  • Business operations
  • Crime prevention

SPSS will automatically transform your data into the best-fit formats for predictive analysis and modeling—including charts and other visualizations, so your findings are easy to share with others.

And because no coding languages are required to use the SPSS modeler, it's a good option for many corporate users.

How Much Does IBM SPSS Cost?

SPSS pricing is customized based on your needs, so you'll have to contact IBM for a quote.

IBM SPSS: Pros and Cons

  • SPSS offers some drag-and-drop functionality that makes it functional for a wider range of users
  • It's suitable for use in a wide range of industries and applications
  • While you can connect a number of data sources to the tool, it isn't truly open source—so it won't have quite the level of flexibility as some other services in our guide
  • SPSS pricing isn’t based on usage, so it may not be a good choice for users that need to tap into the tool on occasion versus every day

2. SAP Analytics Cloud

SAP Analytics Cloud is a self-service, cloud-based modeling tool that integrates with the SAP Business Technology Platform.

undefined

If your company is already storing data in other SAP tools, you can use Analytics Cloud to consolidate that information and:

  • Simulate different business scenarios
  • Convert simulations into actions within the SAP suite of tools
  • Use machine learning capabilities to automate processes
  • Create data visualizations and reports from large or small data sets

The Analytics Cloud comes complete with prebuilt business dashboards. Simply connect your business data sets and begin predicting, visualizing, and modeling information.

It's a nice touch that makes the tool more accessible to users who are just beginning to explore predictive analytics.

If you aren't using SAP products to power other areas of your business, though, you'll be better suited by another tool on this list.

How Much Does SAP Analytics Cloud Cost?

SAP Analytics Cloud costs $432 per user, per year. The company requires that its subscribers purchase a minimum of five user seats.

SAP Analytics: Pros and Cons

  • The platform integrates seamlessly with other SAP products
  • Prebuilt business dashboards make it easy to get started, even with minimal experience in predictive analytics
  • To get the most out of this tool, you'll need to be using other SAP products across your operations
  • Users must purchase a minimum of five licenses, so it's not a great choice for independent consultants or very small teams

3. Microsoft Power BI

Power BI is a suite of business intelligence tools and connectors that let you manipulate and model data from Microsoft applications.

undefined

You can use Power BI to access, analyze, and create predictions from data stored in a corporate data warehouse, an on-premises server, and even an Excel spreadsheet.

There are many different ways you can use Power BI, including creating visualizations, shareable dashboards, and reports. And if you're comfortable working with machine learning models, you can use Power BI to generate predictions.

Power BI will walk you through the process of setting up and training a predictive model—but you'll still need to be comfortable working with machine learning applications and code repositories like GitHub. This makes it a good choice for experienced data analysts, but not casual business users.

How Much Does Microsoft Power BI Cost?

To unlock Power BI's advanced predictive modeling features, you'll need a premium subscription that costs $20 per user, per month.

Microsoft Power BI: Pros and Cons

  • You can use PowerBI for predictive analytics even if you're working with small data sets in Excel; access to large data lakes isn't required
  • The platform is very customizable, so you can use it in a wide variety of ways—and change the way your data predictions are compiled and visualized
  • Because PowerBI is so customizable, you will need to be familiar with machine learning algorithms and related code
  • If your organization doesn't use Microsoft to manage most of its data and documents, you may not find PowerBI to be as useful as some other tools in our guide

4. Spotfire

Spotfire (formerly TIBCO Spotfire) is a self-service data analytics platform.

undefined

It supports predictive analytics, data visualization, and dashboard creation for business use.

Companies using Spotfire rely on the tool to help them predict things like:

  • When production equipment may break down or require repairs
  • If consumer retail demand will spike at certain times during the year
  • How ongoing business operations may be impacted by an anomaly
  • Which transit routes are least likely to experience bottlenecks

Spotfire stands apart from many other predictive analytics tools in that it's suitable for both new and experienced users alike. The platform offers point-and-click, no-code configuration—you don't have to be a developer to analyze data and create predictive insights.

How Much Does Spotfire Cost?

Spotfire pricing is customized based on the number and type of user licenses you require. The company offers a 30-day free trial so you can test out the product; after that, you'll need to request a custom price quote.

Spotfire: Pros and Cons

  • No-code configuration options make it possible for anyone to begin leveraging predictive analytics in their business
  • You can pull in data from a wide range of sources, great for both modeling predictions and visualizing data
  • Spotfire doesn't offer the same level of complete AI and ML configuration as some other predictive analytics tools on the market
  • There isn't any free access to the platform—you'll have to pay a subscription fee after your trial ends

Tableau is a visual analytics and data analysis platform.

undefined

You can use the tool to create various "what-if" scenarios and potential outcomes. This is useful for things like:

  • Predicting product sales by quarter
  • Preparing for potential increases in transit demand
  • Analyzing customer insights by season
  • Modeling business expansion opportunities by region

Like Spotfire, Tableau includes drag-and-drop tools that make it easy to adjust your predictive models and visualize data.

You can use Tableau to analyze data from a variety of sources, including cloud and on-premises data storage. The tool also integrates directly with the Salesforce CRM—so if you're already in the Salesforce ecosystem, Tableau could be a good choice.

How Much Does Tableau Cost?

Tableau pricing starts at $42 per user, per month when billed annually. You can add additional view-only licenses for $15 per user, per month when billed annually.

Tableau: Pros and Cons

  • Tableau includes drag-and-drop tools for no-code dashboard creation and data visualization
  • View-only licenses make it a cost-effective option for consultants and large teams
  • The platform isn't quite as open and customizable as Power BI and some other predictive analytics tools
  • Customers of non-Salesforce CRMs may not find Tableau as useful for sales predictions

6. Oracle Analytics

Oracle Analytics is a data platform that uses machine learning algorithms to create predictive models.

undefined

The software includes algorithms for:

  • Classification and regression trees
  • Logistic regression
  • Binary clustering

Once you choose your model of choice, you can use Oracle Analytics to train it on a dataset. The final, trained model can then be applied to other datasets that you want to use for predictions.

Using the Oracle platform requires more data and machine learning experience than when using Spotfire's no-code interface. Some users may find Oracle easier to use than IBM Watson Studio and Power BI, though, both of which require more hands-on work with algorithms and code.

How Much Does Oracle Analytics Cost?

You can use a limited number of Oracle Analytics features and computing hours each month for free.

To utilize all of the platform's features, though, you'll need to contact Oracle and discuss custom pricing based on your needs.

Oracle Analytics: Pros and Cons

  • Users can access a portion of the platform for free every month
  • Oracle provides a selection of trainable machine learning algorithms to get users started right out of the box
  • While there are starter algorithms, Oracle Analytics is not a completely drag-and-drop no-code tool
  • Oracle's pricing for heavy users isn't transparent and publicly available

7. Alteryx Designer

Alteryx Designer is an AI-powered enterprise analytics platform.

undefined

You can use Alteryx Designer to develop predictions based on all kinds of data—from sports team performance to email open rates or sales revenue.

Alteryx lets you pull in data from a long list of sources, including:

  • Adobe analytics
  • Amazon Redshift
  • Google Analytics
  • Microsoft Azure Data Lake Store

You can even pull in data from CSV spreadsheets, text documents, and XML files.

Alteryx designer includes drag-and-drop tools that let users create predictions and workflows without writing any code. If you're comfortable working within the R software environment , though, you can take your data analysis even further.

How Much Does Alteryx Cost?

Access to Alteryx Designer starts at $4,950 per user, per year for cloud software and requires a minimum of three user licenses. A desktop version is also available for $5,195 per user, per year.

Alteryx: Pros and Cons

  • Alteryx Designer lets you leverage machine learning to automate data analysis and predictions
  • Drag-and-drop tools let anyone create predictions from data without code
  • one more con here
  • Minimum user licensing requirements can make Alteryx an expensive choice for smaller teams

8. IBM Watson Studio

IBM Watson Studio is an AI tool that uses deep learning and neural networks to find patterns.

undefined

You can leverage this pattern analysis to create predictions with data from a wide range of sources. To do this, though, you'll need to be familiar with at least one of the following:

  • Jupyter notebooks

This makes Watson Studio a better fit than SPSS for data scientists interested in the IBM ecosystem.

And if you're comfortable with the way Watson Studio works, you can use it to analyze and visualize data from an array of sources.

You can either train a machine learning model yourself or use one of the pre-trained text analysis models provided by IBM as part of a Watson Studio account.

How Much Does IBM Watson Studio Cost?

Watson Studio pricing is based on usage. Using the tool's resources for less than 10 hours a month may be free for some users; heavier resource consumption costs $1.02 per hour.

IBM Watson Studio: Pros and Cons

  • Watson Studio lets you leverage neural networks to dig deep into data and uncover patterns and insights you may not get from other tools
  • You can get started quickly with AI automation tools and a selection of pre-trained models that use natural language processing (NLP)
  • You'll need to be comfortable working with machine learning algorithms in order to use Watson to its full extent
  • There's no drag-and-drop tool option in Watson Studio—for that, you'll need to stick with an alternative like IBM SPSS or Spotfire

KNIME is a no-code, open source analytics platform.

undefined

The platform connects to over 300 data sources, including:

  • MySQL databases
  • Google applications via REST API

Once you bring your data into KNIME, you can then use drag-and-drop nodes and connectors to create workflows. Each node is a single step—and when you combine these steps, the program can:

  • Read and sort data
  • Create decision trees
  • Predict future trends
  • Analyze large data sets

You don't need any prior data, statistics, or predictive analytics experience in order to use KNIME.

How Much Does KNIME Cost?

KNIME is free to use—you can build workflows and collaborate with others at now cost. In order to gain more control over the ways in which you collaborate with others in KNIME, you'll want to subscribe to a Teams plan for $285 per month.

KNIME also offers a Business Hub plan that allows users to turn workflows into apps and services. Business Hub access starts at $39,900 per year.

KNIME: Pros and Cons

  • KNIME is a free, open-source download
  • No coding knowledge is necessary—drag-and-drop modules make it easy to build workflows
  • You will need to build all of your workflows—there aren't any starter dashboards right out of the box
  • It's only a drag-and-drop tool, so advanced analytics users interested in coding will want to look for another platform

When it comes to working with big data, finding a predictive analytics solution is just one part of the process. Check out our continually updated guide to the key big data trends you need to know this year—and see how tapping into automations, trends, and more can help you scale your data usage.

Find Thousands of Trending Topics With Our Platform

newsletter banner

IMAGES

  1. The 3 best strategic planning tools for business [+ results]

    business planning tools

  2. Tips For Creating A Business With Strategic Planning Process

    business planning tools

  3. How to Write a Business Plan

    business planning tools

  4. The 3 best strategic planning tools for business [+ results]

    business planning tools

  5. Bizplan.com

    business planning tools

  6. The 6 Best Business Plan Tools and How to Decide

    business planning tools

VIDEO

  1. Mastering the Seven New Management and Planning Tools

  2. Business Planning

  3. WBN 2023 Business Planning

  4. Our 2023 Business Planning Event

  5. Business Planning: Tools for Growth and Development

  6. Flow Canvas Online Tool Launch

COMMENTS

  1. 10 Best Business Plan Software In 2024

    Zoom, LinkedIn, Adobe, Salesforce and more 1 monday.com Learn More On monday.com's Website Free version available Yes, for one user and two editors

  2. 9 Strategic Planning Models and Tools for the Customer-Focused Business

    9 Strategic Planning Models and Tools for the Customer-Focused Business Download Now: Free Strategic Planning Template Meredith Hart Published: July 11, 2023 As the economist and business strategy guru, Michael Porter, says, "The essence of strategy is choosing what not to do."

  3. Write your business plan

    Learn how to write a business plan quickly and efficiently with a business plan template. Choose between a traditional or lean startup format, depending on your needs and goals. Find out the key elements of a traditional business plan and a lean startup format, and see examples of each.

  4. 5 Best Business Plan Software and Tools 2023

    5 Best Business Plan Software and Tools 2023 | Business.org Security Systems E-commerce Website Builders Cheapest Website Builders General Liability Insurance Benefits Administration How to Get a Business Loan Business Loan Requirements Business Credit Card Guide Commercial Loan Guide Funding by Topic Loans Credit Cards Banking Building Credit

  5. Business Plan Software With Performance Tracking

    Product Solutions Pricing Resources Chase Your Business Dreams With Confidence Join over 1 million entrepreneurs who plan, fund and grow their companies. Start Your Plan Video Tour Easily think through every aspect of your business — so you'll be twice as likely to succeed Build your business plan faster and easier with AI

  6. 5 Best Business Plan Software in 2022

    1. LivePlan Best overall business plan software. If you want template-rich, modern-feeling business plan software, then LivePlan may be the right pick for you. LivePlan excels with their...

  7. 14 Useful Tools for Writing a Business Plan

    Learn how to write a business plan with online tools, tutorials, and templates that guide you through each section and step of the process. Find out how to create a plan that suits your business needs, goals, and budget with these 14 tools.

  8. 7 Best Business Plan Software for Startups in 2024

    1. LivePlan - $15/month to $30/month We love LivePlan overall because it offers great value at an affordable cost. The software lets you quickly create a business plan from anywhere in the world using what is arguably the best business plan software available on the market. It does everything better than its competition and costs way less.

  9. Bplans: Business Planning Resources and Free Business Plan Samples

    SWOT Analysis Easily evaluate your competitive position and develop effective growth strategies. Cash Flow Forecast Improve the health of your business by easily estimating your business's financial future. Lean Business Plan Template Fast, simple, and shareable. Start with a one-page plan to grow alongside your business. Start Your Business

  10. Best business plan software of 2024

    1. Best overall 2. Best budget 3. Best basic 4. Best established 5. Best for speed 6. Other business plan software to consider 7. FAQs 8. How we test

  11. Strategic Planning Tools: What, Why, How, Template

    Strategic Planning Tools: What, Why, How, Template | Gartner Essential Guide to Strategic Planning Strategic planning maps the initiatives and investments required to achieve long‑⁠term strategic objectives. Here's how to do it well. Download Your Guide to Strategic Planning Success

  12. Strategic Planning Tools

    The online tool for strategic planning. Propel your plans from strategy through execution. Run engaging kickoff sessions, build visual presentations, and manage and track progress collaboratively, all in one online planning tool. Sign up free. Over 60M users love Miro.

  13. 5 Ways to Use Strategic Planning Tools to Achieve Your Business Goals

    There are many tools for strategic planning, each offering a unique perspective and approach. These tools serve as the strategic gears that set your business in motion toward its envisioned future.

  14. 7 Best Business Plan Software for 2024

    A Business plan software is a specialized digital tool designed to assist entrepreneurs, startups and established businesses in creating, organizing and presenting comprehensive business plans. Business plan software significantly reduces the time and effort required to create a comprehensive business plan.

  15. Bizplan.com

    Financial Tools Does setting salaries, projecting revenue, and tracking costs sound like a pain? (It is!) But we've got you covered! Just set your goals, and we'll handle the math. Learn More Share Online with Investors Ready to raise capital?

  16. The Best Business Plan Software

    EquityNet Jump To Details 199.00 Starting Price at EquityNet See It PlanGuru Jump To Details Available at PlanGuru Check Price StratPad Jump To Details $12.95 at StratPad See It Atlas Business...

  17. 7 Strategic Planning Models and 8 Frameworks To Start [2023] • Asana

    1. Basic model. The basic strategic planning model is ideal for establishing your company's vision, mission, business objectives, and values. This model helps you outline the specific steps you need to take to reach your goals, monitor progress to keep everyone on target, and address issues as they arise.

  18. The Best 10 Business Planning Tools for Startups

    Vizologi 6.1 Features 6.2 Pricing 7 6. TheBizPlanner 7.1 Features 7.2 Pricing 8 7. AchieveIt 8.1 Features 8.2 Pricing 9 8. PlanGuru 9.1 Features 9.2 Pricing

  19. 10 Best Strategic Planning Software Tools in 2024

    10 Best Strategic Planning Software Tools in 2024 Alex York Senior Content Marketing Manager February 14, 2024 11min read Table of Contents Building a strategy takes a huge amount of effort and time. You need to build your vision for the business, set your goals accordingly, and outline how you'll get there.

  20. Bizplan.com

    Join our community of 1 million users! Start Your Business Plan. "What startups.co has built is a platform that can help you at every stage of growth. Instead of having to have disparate service providers, entrepreneurs now have a community of like minded individuals and services that drive real value and growth in one place.".

  21. 10 Best Business Plan Software and Tools in 2024

    4. IdeaBuddy. Ideabuddy is an innovative business plan software helping new-age entrepreneurs turn their ideas into successful business plans. Customizable templates, industry-based guides, and streamlined idea and business plan creation make it one of the most user-friendly applications on the list.

  22. Creating a Winning Business Plan: Tips and Tools for Small Businesses

    It outlines your business goals, strategies for achieving them, the potential problems you might face, and ways to solve them. In essence, a well-crafted business plan serves as a roadmap for success and a tool for securing financing. Key Components of a Successful Business Plan Executive Summary. The Executive Summary is arguably the most ...

  23. 7 Business Planning Software Tools Every Entrepreneur Needs

    Business planning software tools are essential for growing a successful business, offering benefits such as improved efficiency, accuracy, performance tracking, and enhanced collaboration. Budgeting software provides dynamic financial planning capabilities, enabling real-time adjustments and fostering team alignment on financial goals.

  24. Essential Tools Every Entrepreneur Needs to Succeed in 2024

    Essential tools ranging from project management, marketing automation, analytics, SEO, scheduling, freelancing, communication and design to help your business succeed in 2024

  25. 30 Emerging Technologies That Will Guide Your Business Decisions

    This theme focuses on making the right business and ethical choices in the adoption of AI and using AI design principles that will benefit people and society.. Human-centered AI (HCAI) is a common AI design principle that calls for AI to continuously benefit from human input. Behavioral analytics refers to session-tracking capabilities that monitor user interactions with a protected service to ...

  26. 18 Tools to Help Automate Your Business in 2024

    Likewise, a small business owner with remote employees may use project management software for workload capacity planning, collaboration, and scheduling. Automate your business with platforms like: Monday.com: Initiate calendar events, emails, or follow-up tasks with Monday.com. The Standard plan includes 250 automated actions monthly.

  27. Jira Review 2024: Is it the Best Agile Project Planning Tool

    The plan's administrative insights and ability to limit site access to trusted IP ranges enhance its security profile, making it well-suited for large organizations with complex project management needs . ... This extensive selection positions Jira as a highly adaptable tool for various business needs. Notably, Jira integrates with popular ...

  28. 9 Top Predictive Analytics Tools (2024)

    A good predictive analytics tool can transform the way you plan for events and opportunities in business. Whether you're interested in using machine learning to manipulate data or you're in need of a no-code tool, the nine options on this list are some of the best predictive analytics software programs on the market today. 1. IBM SPSS

  29. The 48 Best Marketing Tools for Every Business (2024)

    48 best marketing tools for every business and budget. You might need tools from one or all of these categories—it really depends on what your goals are and what your overall digital marketing strategy is. For tools that don't have a free option, many offer seven- or 14-day free trials, where you can test out the marketing platform before ...