Come hell or high water, I will unveil my business idea Sunday evening. So, for the time being, I thought I’d take the time to update you on my business plan and the software that I’m using.

As I stated in a previous business plan post, I am using The Ultimate Business Plan Starter software, which is published by ABS Online. By using this software the past couple of days, I think I’ve written more of my business plan than I had in the previous couple of months!

What I enjoy most about the software is the fact that it breaks down the business plan in a step by step manner, going over the aspects of (and providing examples for) the executive summary, company background, products/services, competition, marketing and operating plans, goals and strategies and financial assumptions.

While I was a student at James Madison University, it was a College of Business requirement to take a 12 credit class where we had to work in a group to come up with a comprehensive business plan. My group and I worked on a plan from scratch, using templates and ideas we found in our over priced text books. We got a C+ on the project. I think if we had the foresight to use a product like this, we would have done a lot better.

Granted, just using a good business plan software doesn’t guarantee you’re going to have a good business plan, but I think that it certainly will help you make sure you hit everything.

Remember, a good business plan is essential to have (or in my case, develop) when you are starting a business so you may as well take advantage of anything that will make the whole process easier AND more thorough.