FAQ Contents


Starting a Business Plan

Q: How do I start my business plan?
A: Begin by selecting the Biz Plan Builder icon in the application selector from your user dashboard. Then select the Add New Plan button, and type in the name of your plan, along with a description and click the Add New Plan button. Next you will be asked to fill out some basic information that will be reflected in the business plan, and select Save & Continue to proceed with your business plan.

Q: What is the Narrative tab?
A: The Narrative tab is where you will be writing and developing your business plan. Here is where you will use the business plan wizard to complete each section of the business plan.

Q: Where do I even start?
A: You may start with Business Concept & Business Description under your Executive Summary. This is usually a good starting point, and most of our customers choose these sections. Keep in mind, though, your Executive Summary should also be one of the last sections you complete. After you have completed your plan, it is always important to go back and review your Executive Summary to see if it sums up and reflects your business plan. Your Executive Summary is always the first section a potential investor or lender will read.

Q: How does the Narrative section work?
A: First- Select a section to work in.
Second- Complete the Wizard by selecting the topics or choices that are most relevant to your business.
Third- Review and select to populate the template language into your text editor.
Fourth- Add and edit the template and continue to the next section.

Q: Can I use the template language as a starting point, and write my own material?
A: Yes. After you have selected the template language that best fits your business, you are able to review and populate it into your text editor by selecting the Add this Template to Your Business Plan button. Once populated, you are able to add and edit as much information as you would like.

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Narrative

Q: What is the Narrative tab?
A: The Narrative tab is where you will be writing and developing your business plan. Here is where you will use the business plan wizard to complete each section of the business plan.

Q: Where do I even start?
A: You may start with Business Concept & Business Description under your Executive Summary. This is usually a good starting point, and most of our customers choose these sections. Keep in mind, your Executive Summary should also be one of the last sections you complete. After you have completed your plan, it is always important to go back and review your Executive Summary to see if it sums up and reflects your business plan. Your Executive Summary is always the first section a potential investor or lender will read.

Q: How does the Narrative section work?

  1. First- Select a section to work in.
  2. Select the template or subject that fits your business the best and select Finish.
  3. Populate the template language into your text editor.
  4. Add and edit the template and continue to the next section.

Q: Can I use the template language as a starting point, and write my own material?
A: Yes. After you have selected the template language that best fits your business, you are able to review and populate it into your text editor by selecting the Add this Template to Your Business Plan button. Once populated, you are able to add and edit as much information as you would like.

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Using the Templates

Q: How do the sections & templates work?
A: Through each section of the business plan you will be provided with basic template language to help complete the specific section.

Q: How do I choose a template that’s best for my business?
A:
When start your plan you begin by filling out your company profile. There is a step in the Company Profile set up that asks you to select a business plan template to work from. Select a Category, Sub Category, and then a Template to work from. Based on what you selected, template text will automatically appear in certain parts of your business plan relating to that template to help you create and complete your business plan effectively.

Q: Why isn’t there a specific template for my business?
A: We provide template language that is both general and specific depending on the section that you are in. We are constantly adding new templates and updating language. We suggest you find a template that best fits your business, and work from there.

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Financials

Q: What is the Financials tab?
A: The Financials tab is where you will be asked to add particular costs and funds that are needed and associated with your business. In the end, you will end up with a complete set of Financial Reports needed to be submitted with your Business Plan.

Q: Do I need any financial background or knowledge?
A: No. You don’t need any financial background or knowledge to complete the Financial section. The Financial section was designed for the person who cannot create a spreadsheet to be able to produce all the financial reports needed for a Business Plan.

Q: How does the Financial Section work?
A: Throughout each section of the Financial plan, you will be asked to simply add financial assumptions into the open fields provided. That’s it. The application will do the rest of the work and calculations to produce the Financial reports you need for your Business Plan.

Q: Do I have to go in order, and can I move from one section to another?
A: No. You can move around from different sections of the application if needed, although the layout of the sections is designed in such a way to help you from start to finish.

Q: What if I want to work from an excel sheet?
A:
If you would like to work from an excel spreadsheet, you can select the Downloads tab where you have the choice to build your financial projections from these spreadsheets.
-Note: If you create your financial projections using these spreadsheets, you will have to create your financial projection reports from the Excel program.

Q: I need to change the currency type for my financial projections, where do I do so?
A:
First, our Financial Wizard does not yet have the capability to change the currency type, but our Financial Spreadsheets do. To access these spreadsheets go to the Downloads tab, and select either the Intermediate or Expert financial projections spreadsheets. To change the currency type, follow these directions that can be found here: http://www.businesspowertools.com/business-apps/financing-growth/bizplan-builder-online-faq/

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Reports

Q: What is the Reports tab?
A: The Reports tab is simply the calculated Financial Reports that are generated after you have finished the Financial Section.

Q: Do I have to do any of the calculations?
A: No. The calculations are done for you. As long as you have entered the information asked for in the Financial Section, your Financials will be automatically calculated and generate Reports for you.

Q: How do I print or download my Reports?
A:At any point you feel you have completed your Business Plan, look for the Finished? Click Here to Export Your Documents link. This link can be found on every page of the application towards the bottom left hand side. This will allow you to download and print out your entire Business Plan, or just the Reports or Narrative sections individually.

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Downloading & Printing Your Business Plan

Q: How do I print or download my Business Plan?
A: At any point you feel you have completed your Business Plan, look for the Finished? Click Here to Export Your Documents link. This link can be found on every page of the application towards the bottom left hand side. This will allow you to download and print out your entire Business Plan.

Q: Can I just download and print individual parts of the Business Plan?
A: Yes. You are able to download and print off the Reports or Narrative sections individually.

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