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Tech at Work: Planning for Success Illinois

Palo Alto Software's Business Plan Pro helps you develop a plan to grow and finance your business.

1. Local Companies

2. Introduction

3. Analysis Tool

4. No Substitute for Knowledge

5. Featured Local Company

1 . Local Companies

Administaff
847-233-3723
9450 W. Bryn Mawr Ave.
Rosemont, IL

Tierra Limited Inc
480-363-2937
10325 Oxford Ave
Chicago Ridge, IL

ConnecTech Solutions, Inc.
877-463-5434
5121 Main Street
Downers Grove, IL

Interactive Health Solutions
800 840 6100
3115 N. Wilke Road
Arlington Heights, IL

Performance Speaking
618.939.1776
113 Kurken Dr
Waterloo, IL

A-H Consulting, Inc.
(309) 691-4492
P.O. Box 3856
Peoria, IL

Versant Technologies Inc
847-690-9698
605 E Algonquin Road
Arlington Heights, IL

EdWel Programs
312.654.1995
1 East Superior
Chicago, IL

Wonomi Technologies
800-589-5035
712 Aberdeen St, 3A
Chicago, IL

Tekno Telecom, L.L.C.
630-579-9800
1250 Shore Road
Naperville, IL

If you fail to develop a business plan, you're planning to fail. Business Plan Pro, an application from Palo Alto Software, can help you plan for success. It may also help fund your operations, since most sources of financing, from banks to venture capitalists, require a business plan before they'll consider giving loans, lines of credit, or equity investments.

BPP's EasyPlan Wizard provides easy-to-understand, step-by-step instructions for developing a professional-looking plan for your business, including financial projections.

In the process of developing your plan with BPP, you will refine your business strategy and how you intend to implement it. Even if you have no formal training in finance, you'll be able to plug in numbers to generate a useful cash-flow projection.

You can view graphical results of your financial projection to help you plan for growth. You can then check your data for common errors using the Plan Review Wizard. Finally, you can export your completed business plan to Microsoft Word, Excel, and PowerPoint, or create an Adobe PDF electronic document for distribution.

3 . Analysis Tool

New features in the 2007 version of BPP I reviewed include a useful SWOT (Strengths Weaknesses Opportunities Threats) analysis that can help you fine-tune your plan to better reflect conditions in your specific market.

BPP can help focus and improve the performance of an established business, but it's useful for all stages. A new feature in this version helps you develop an exit strategy, which you'll appreciate if you want to plan your retirement. BPP can be even more useful if your startup is no more than a gleam in your eye.

Business planning neophytes will appreciate the comprehensive database of more than 500 sample business plans included in the package. These cover a broad range of different business types, including auto repair, bed & breakfast, children's day care, computer value-added reseller, and many more. You can import any of these sample plans and edit one to make it your own.

BPP gives you all the tools you need to create a polished, professional-looking plan. It also provides a solid information background with a business planning workbook by Palo Alto Software founder Tim Berry and a business startup guide by former Apple Computer strategist Guy Kawasaki.

4 . No Substitute for Knowledge

Of course, software and books cannot substitute for business acumen and specific industry knowledge. If BPP has a flaw, it's that a budding entrepreneur may too easily use one of its samples to develop a good-looking business plan that's built on a shaky foundation, without truly understanding the risk factors involved. You need to do your homework on your proposed business and acquire market research data, such as consulting reports and census information, to shore up any gaps in your knowledge.

BPP 2007 is available in two flavors. The Standard Edition ($100) is designed for someone with little business experience who is starting a company or planning to add a new product line. The Premier Edition ($199) includes everything in the Standard Edition and adds more in-depth numerical analysis, such as comparing actual to planned financial results. This version can import data from Intuit's popular QuickBooks small business accounting software, as well. Premier is aimed at planners working at existing businesses who require more detailed financial projections.

Experienced planners often require no more than a spreadsheet and a word processor to crank out a business plan from scratch. But if you have little planning experience, you'll want to consider using BPP. This package is the best product in its price class for saving valuable time and enhancing the quality of your business plan.

Palo Alto Software Business Plan Pro 2007

This moderately priced program makes it easy to create a good-looking business plan for a new or existing business. But you'll need the business know-how to create a plan that's realistic and achievable.

Standard Edition $100; Premier Edition, $199
Current prices (if available)

5 . Featured Local Company

Valley View Consultants, Inc.

618 656-6519
8522 Greenbriar Estates
Edwardsville, IL
www.ValleyViewConsultants.com

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