Research and Forecasting Tools: Business Plan Pro provides more than 500 sample business plans covering several diverse business concepts.
"The primary reason for all of these failures is that they run out of money," Geiger said.
"The fundamental reason for their financial problems is lack of planning." Some of these failures could have been prevented by having a business plan.
Similarly, the business plan software you choose should delve deep into financial details, he said.
"The more specific a cash-flow forecast is, the better it is," Geiger said.
Expand your one-page plan and create a detailed, complete business plan with step-by-step instructions and examples.
Live Plan includes full definitions, videos, examples from real business plans, and tutorials at every step.
Help and Support: Supporting documents include business forms such as articles of incorporation, resume templates, team responsibilities and general partnership agreements, as well as personal financial statements, press releases, private offering disclaimers and stock-option tracking worksheets.
Business-plan updates, business-plan FAQs, an online business-plan workshop and an expert referral network are also part of the program.
Yearly business plans with cash-flow forecasts enable businesses to discover their impending cash shortages months, if not years, before they run short of money, Geiger said.
To create a well-crafted business plan, your chosen software application should cover the two critical parts of a business plan. The second part is a cash-flow forecast, which typically covers a three-year span.