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Tech at Work: Planning for Success Ohio

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

Gravett and Associates
(513)753-8870
P.O. Box 54429
Cincinnati, OH

Leadership Management Institute
614-823-8150
P.O. Box 332
Columbus, OH

Avantt Consulting
(614) 268-6100
268 Chatham Road
Columbus, OH

GreenTomatoConsulting
614.657.2758
4555 Headleys Mill Rd
Pataskala, OH

BlueLine International LLC
614-488-8094
5681 Everbrook Drive
Hilliard, OH

Blue Pencil
614-778-2256
551 South Front Street
Columbus, OH

Access Information Services
937-439-0418
Po Box 291784
Kettering, OH

Small Business Development Center
513 556-2073
7162 Reading Road Suite 725
Cincinnati, OH

Bartolo's Sedan Service
(937) 416-7848
51 Grafton Ave Suite 303
Dayton, OH

SteveJudah.com
614-451-0116
2290 Pinebrook Road
Columbus, OH

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

Stratamar, inc.

614.529.2945
5661 Seapine Rd.
Hilliard, OH
http://www.stratamar.com

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