For businesses just starting out (and even for businesses that are already established), writing a business plan that bankers and investors can understand can be difficult. What is the point of a business plan? A good one will not only communicate to the people who could help fund your project what you want to do, but it can also help you objectively see the potential risks involved in your projects. By writing down the task at hand, it’s easier to predict if a business idea is set for success or not.
The creators of Enloop know how difficult it is to write a good business plan. That’s why they’ve created their service—an online, step-by-step guide to writing great business plans.
Enloop takes you through each step of a business plan and allows you to fill in each section with details about your project. Based on what you input into the online form, Enloop automatically writes your business plan in language readable for bankers and investors using AutoText. You can also use your own text to further explain any section of your business plan. When you’re done, you’ll have a business plan that is clear and understandable to everyone involved.
Enloop Performance Score (EPS)
Say, for example, you’re thinking of launching a new business from the ground up. How do you know if your ideas are sound and your business will be successful? That’s certainly hard to predict and any entrepreneur could use a little extra guidance. That’s where Enloop comes in. Enloop provides an Enloop Performance Score (EPS) that measures the success of your business on a scale of zero to a thousand. Based on your input, Enloop generates a Performance Review that provides you with immediate feedback regarding the likelihood of your company’s success as well as expert guidance for improving your score. The higher the score, the higher the likelihood of success for the business. The score is designed with safeguards so that unrealistic financial forecasting does not occur. Enloop provides advice for improving your score based on experts in your industry. Once your business receives a passing score, Enloop will reward you with their Performance Certification.
Automatic Financial Forecasting
Enloop automatically analyzes your business plan and generates a three-year bank and investor-ready financial forecast. The financial forecast predicts future:
Profit and Loss
Balance Sheet Forecasts
Enloop’s ratios are very interesting. Enloop generates a Ratio Analysis for your company based on nineteen important ratios. Enloop also compares your company’s performance to your specific industry’s averages. The Ratio Analysis makes it easy to see whether your business is on track or needs more work financially.
Overall, Enloop looks like an easy way to not only generate a business plan, but predict future success and forecast financial data. All features on Enloop are currently free during the beta phase, so why not check it out? Let me know what you think!
CURT FINCH has more than two decades of software development and distributed workforce management experience. In 1997, Curt created the world's first internet-based timesheet application and the foundation for the current Journyx product offering. Curt has a B.S. in Computer Science from Virginia Tech. His book, All Your Money, is available on Amazon. @curtfinch