An entrepreneur is, in essence, a maker of plans. Actionable, specific plans for the realization of things that don't yet exist; turning ideas into action.
It sounds simple, but any business owner who has tried to start, build and grow a business knows how tricky this skill can be. Because, let's face it: business is too complicated to simply sit down and make 'one plan, one business plan to rule them all...'.
It's product and marketing plans. It's legal and financials; customer support and content plans. If you're doing it right, entrepreneurship means you are always standing at the edge of your next plan, always in a position to pivot as new information comes in and to update your plans accordingly.
The problem with such dynamic planning is that it takes time. Time to write out your plan. To assess what happened, and reassess if the current gameplan is still the best path. To think through the expected outcomes, costs and ROI.
Let alone making plans for things you're not-so-well-versed in. "I know I should have a Customer Onboarding Plan, but can someone please remind me of best practices again?"
Fortunately, we live in 2023 and some of the most powerful AI models in existence are available to help us with the more mundane and administrative side of business planning; so that you can focus on the strategic inputs and let your new AI-powered tools fill in the details.
In this post, I'll be sharing 6 of the best such AI-powered business plan generators. From tools to help you write out a formal business plan proposal (say, for applying for a business loan) to apps that will guide you through and generate plans for every step of your business building journey.
Let's take a look.
Bizway lets you turn your business ideas, notes and research into actionable roadmaps and plans with a couple of clicks. Imagine taking all of the little notes you've jotted down about your business; Google docs saved; sheets created; Notion workspaces setup; then saying 'Okay Bizway, create a Marketing Plan for me based on what you know about my business'.
Bizway, unlike some of the other tools on this list, was built in the era of ChatGPT--so it really was built from the ground up with an AI-first powered interface.
If you're just starting from a business idea, or want to speed up your next marketing campaign, product launch (or anything really), get Bizway to help you create your next plan in just a few clicks.
Next on our list is LivePlan. This AI-powered tool is best known for its step-by-step guidance and interactive financial forecasting. It features easy-to-use templates and pitch guides, which can be a great starting point for startups and SMEs. LivePlan's Pitch feature helps you to quickly prepare a one-page infographic that highlights your business idea and its profitability to investors.
In addition, LivePlan allows you to benchmark your forecasts against similar businesses, giving you an insight into your competitive standing. The tool's performance dashboard also keeps you updated on your business progress, ensuring you stay on track with your plan.
Upmetrics is an excellent AI-powered business plan generator that offers a plethora of features including a business plan editor, financial forecasting, and a collaboration feature that allows your team to work together on the plan. One standout feature of Upmetrics is its repository of more than 20,000 business ideas, which can provide inspiration for your own venture.
Additionally, Upmetrics has a Business Plan Analytics feature that allows you to analyze your business strategy and optimize your plan for maximum effectiveness. This is an excellent tool for entrepreneurs who want a deeper understanding of their business strategy.
IdeaBuddy is a novel AI-powered business plan generator that targets entrepreneurs and startups in the initial stages of planning. The platform takes users through an organized idea development process dubbed "Idea Journey" that includes creating a business concept, building a business model, and planning a budget.
IdeaBuddy also offers an attractive feature named Storyboard. This tool allows you to visualize your business journey and share your vision with potential investors and stakeholders, fostering a deeper understanding of your idea.
GoSmallBiz is a comprehensive business plan generator powered by AI. It covers all the essential aspects of a business plan including executive summary, company description, product/service line, and market analysis.
What sets Tarkenton GoSmallBiz apart is its integrated educational resources. With hundreds of business courses and webinars, users can deepen their business knowledge while creating a business plan. The AI tool also includes a real-time performance score that provides immediate feedback on your plan.
Rounding up our list is Bizplan, an AI-powered tool that makes business planning enjoyable with its interactive and easy-to-use interface. Bizplan breaks down the business plan creation process into digestible pieces through its "builder" approach.
Its standout feature is its ability to connect users to a global community of entrepreneurs, Fundable, where you can share ideas and seek feedback. Bizplan also has a robust financial forecasting tool that can help you project revenue, costs, and cash flow.
In conclusion, AI-powered business plan generators are an invaluable resource for entrepreneurs, startups, and small businesses alike. They not only simplify the business plan creation process but also provide insights and features that can significantly boost the success of your venture. With tools like Bizway, LivePlan, Upmetrics, IdeaBuddy, Tarkenton GoSmallBiz, and Bizplan at your disposal, you can confidently create a business plan that is both compelling and investor-ready.
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