Business Plan models for creating entrepreneurial opportunities

"They were able to review my business plan and refer me to other business plan models and different things to focus on," he said. "They really helped me out with networking and with other resources that are out there, and besides that, they were there to be a mentor and a coach, and to monitor and help me along."

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Business plan models, templates or software packages can support or undermine your credibility

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If you're seeking venture capital or direct investment, then using business plan models, templates and software packages to prepare your plan can be a cost-effective solution especially if you're tight on time. I've found the Ultimate Business Planner® to be a simple, easy to use business plan software.

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Using to write your business plan can be helpful. It will create a very cookie-cutter type of plan and scream "written using software," BUT it will guide you through the business plan process, building your business plan model, and motivate you to complete your plan.

Business plan models
It’s crucial to support your financial projections and estimates with thorough research and verifiable evidence. Business plan models, financial templates and software can help you avoid using general, unsubstantiated claims of market share, sales revenues, expenses, growth, and so on and help you defend your plan when it’s challenged and establish instant credibility with potential investors.If your numbers don’t fit logically to the arguments you present or the case you’re building, potential investors will see right though your business plan. That’s why you need to be prepared to back up all your assertions with business plan models that show investors how and why they can make more money by investing in your business. If your numbers don’t fit logically to the arguments you present or the case you’re building, potential investors will see right though your business plan. That’s why you need to be prepared to back up all your assertions with business plan models that show investors how and why they can make more money by investing in your business. Before you invest much time in your venture, make sure you run the numbers through a business plan model, financial template or software package to determine how much revenue (cash in) you can make and how much expenses, working capital, equipment and facilities (cash out) you’ll use. Spread your analysis over the first 24 months, then yearly for years three, four, and five. If your plan doesn’t generate cash, then you either need to do more research to see what operating changes you can make, change your strategy, make other adjustments, or ABORT!
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No matter how much you hate “the numbers,” learn how to read and interpret your financial statements. After all, they are your numbers. No matter who prepares them for you, you are expected to know and understand them; don’t let yourself be intimidated by them. Use business plan models, templates and software packages to evaluate your plan financially, and to present your numbers to investors.

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Ray Palmarini, CPA - Business plan models

Building your own Excel financial template or business plan model gives you tremendous flexibility...if you understand financial accounting. Financial statements are very integrated. The balance sheet, income statement, and cash flow statement all work together and feed each other.

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That said, there are many Excel templates available on the web. But I caution you that some of the spreadsheet templates and excel business plan models I've tested have major flaws in them. I've contacted the providers of these flawed templates and am amazed when they respond with surprise, saying that of all the "thousands" of templates they've sold no one has ever pointed out the errors I found.