Business model software are very useful for starting a business. They can help you to organize your business, find partners, and more. A business plan is the most important part of your startup. Without a business plan, you can hardly get a funding or investments. So it’s logical that you will want to know what the best software is for business modeling.
Business modeling is both an art and a science, which makes it really hard to create a simple to use business plan software. I’ve reviewed a lot of different business plan software solutions and below you’ll find my recommendations for the best ones available that cover most needs.
Bizplan
Best for startups looking to acquire funding or find investors.
Part of the Startups.com suite, Bizplan gets top marks for their user interface—it’s intuitive, easy to use, and modern. You’ll work with a step-by-step business plan builder to get exactly what you’d like from your business plan. It may remind you of a modern website builder, since it has drag-and-drop tools to build templates.
Moreover, for one subscription fee, you have access to all of the tools in the Startups.com network, including self-guided courses, how-to guides, masterclass videos, and more. All in all, with a direct connection to Fundable, Bizplan is a top business plan software option for startups looking to acquire funding and find investors.
Pros
- Subscription gives you access to all Startups.com tools
- Lifetime access subscription option
- User-friendly drag-and-drop business plan builder
- Excellent educational resources
- Connection to Fundable great for businesses looking for capital
Cons
- No free trial
- No templates based on industry
- No mobile access
Features
- Drag-and-drop templates for business plan building
- Financial command center to track all business financials in one place
- Unlimited account collaborators
- Ability to share business plan online with investors
- Online resources including self-guided courses, masterclass videos, how-to guides, mentorship access
- Unlimited software use for Fundable, Launchrock, and Startups.com
Pricing
- Monthly plan: $29 per month
- Annual plan: $20.75 per month, billed at $249 per year
- Lifetime access: $349 one-time fee
Gantt Charts
Gantt charts are generally used less than the other business process modeling tools we discussed above. Part of the reason is that Gantt Charts were developed over 100 years ago and more sophisticated business process modeling tools have since emerged. Gantt charts are simplistic diagrams that provide a visualization of the time associated with specific tasks. For instance, Gantt charts show the start and end times of a process and how long each took to complete.
Thus, Gantt charts are ideal for time-sensitive processes. They show stakeholders when particular tasks should begin and end, and whether processes are being completed on schedule. Gantt charts are not, however, well suited for complex business processes.
Enloop
Best for simple, fast business plan creation.
If you’re looking for free business plan software, Enloop will be one of your closest options—they offer an all-inclusive seven-day free trial, no credit card required. Additionally, unlike some of the other options on our list, Enloop is strictly dedicated to business plan creation, including automated text writing, financial forecast comparisons, and a real-time performance score that tracks your progress.
This being said, if you’d prefer the most straightforward, fast, and simple way to write your business plan, Enloop will be a platform worth considering.
Pros
- Simple and straightforward software, solely dedicated to business plan creation
- Seven-day free trial
- Automatic text generation available to streamline the writing process
- Affordable plans with annual discount option
Cons
- Limited additional educational resources
- Only one template option
- No integration options
Features
- Ability to create three business plans with customizable text, images, tables, charts, and over 100 currency symbols and formats
- Includes automatic text generation for each plan section that you can then customize
- Automatically generated financial statements
- Includes financial performance comparison analysis (using three ratios with Detailed plan and 16 with Performance plan)
- Real-time performance score to track your progress
- Ability to invite users to edit (two with Detailed plan, five with Performance plan)
- Pass/fail report and certificate to help you identify issues with your plan
Pricing
- Free plan: Seven-day free trial with no credit card required
- Detailed plan: $19.95 per month or $11 per month, paid annually
- Performance plan: $39.95 per month, or $24 per month, paid annually
LivePlan
Best overall business plan software.
If you want template-rich, modern-feeling business plan software, then LivePlan may be the right pick for you. LivePlan excels with their user interface, which feels updated and slick, and also offers intuitive, easy-to-use features and options.
Their step-by-step instruction will help you kick things off from the beginning, and you can take advantage of their online learning center to continue to gain business skills.
Pros
- Affordable plans, including pay-as-you-go option
- No long-term contracts or cancellation fee; 60-day money-back guarantee
- Modern, intuitive interface; cloud-based, can be used on Mac, PC, as well as tablets
- Ability to create unlimited plans in one account; over 500 customizable templates
- Variety of business resources including video tutorials, step-by-step instruction, and general customer support
Cons
- Limited integration options
- Challenging to enter your own financial modeling projections
- Can be difficult to learn
Features
- Ability to create an unlimited number of business plans on one account
- More than 500 business plan templates spanning various industries
- Integration with Xero and QuickBooks Online
- Real-time tracking of financial data with accounting integrations
- Ability to export your business plan to Word or PDF
- Expert advice and step-by-step instruction included
- Performance dashboards for tracking against budgets and sales goals
- Ability to create and export a one-page pitch executive summary
Pricing
- Annual plan: $15 per month, billed every 12 months
- Six-month plan: $18 per month, billed every six months
- Pay-as-you-go plan: $20 per month, billed once every month
GoSmallBiz
Best for multiple business management tools in one platform.
Next on our list of the best business plan software options is GoSmallBiz, which is much more than just a business plan software. With GoSmallBiz, you have access to business continuity planning software with features that cover creating a roadmap, working through business and legal forms, building a website, and more.
In this way, GoSmallBiz is great for startups or newer businesses looking to access multiple business management tools through one platform.
Pros
- Unlimited business consultation and extensive library of online resources
- Multiple business tools in one software
- Website consultation analysis and business assessment
- Industry-specific business plan templates with emphasis on financial projections and statements
Cons
- Expensive monthly cost compared to alternatives
- Limited business plan features
- Entire business plan can only be exported to Microsoft Word
- Outdated interface
Features
- Industry-specific business plan templates with step-by-step building wizard
- Ability to create financial statements and projections
- Free website hosting and website builder
- Customer relationship manager with integration with MailChimp
- Digital marketing dashboard with social media and Google Analytics integrations
- HR document builder
- Corporate minutes writer
- Business documents library
- Business courses library
- Unlimited business consultation
Pricing
- $39 per month, no contracts, free cancellation
SIPOC Diagrams
SIPOC diagrams are a tool used in the Six Sigma methodology. Six Sigma was created in 1986 by an American Engineer named Bill Smith and provides various techniques and tools for process improvement. One of these business process modeling tools is a SIPOC diagram.
SIPOC is an acronym that helps stakeholders to identify the key elements of a process at the outset. The ‘s’ in SIPOC stands for suppliers. The ‘i’ for inputs. The ‘p’ for the process that you intend on improving. The ‘o’ for outputs. And the ‘c’ is for customers that the outputs are intended for. When completing a SIPOC diagram, each letter of the acronym is typically written at the top of a column in a table format. Stakeholders then list out the key elements in each category.
Prior to completing the list, however, the existing business process should be mapped out. This provides stakeholders with a visualization of how a process works and helps to identify the elements that are the subject of the acronym.
UML Diagrams
UML, short for Unified Modeling Language, diagrams were developed by software engineers but have become one of the most popular business process modeling tools. UML was created to provide a standardized way to analyze, design, and implement software programs.
There are some 14 different types of UML diagrams, several of which are useful as business process modeling tools. These diagrams fall into two larger categories – structural and behavioral diagrams. Structural diagrams analyze the structure of a process while behavioral focus on its actors and various components.
The most used behavioral diagram are activity diagrams. They are used to illustrate the flow of different processes. Other common ones include use case diagrams and interaction overview diagrams. Commonly used structural UML diagrams include class diagrams, object diagrams, and component diagrams.
BPMN Process Maps
BPMN, or Business Process Modeling Notation, process maps are essentially an extension of UML. But unlike UML, BPMN was created solely to provide a standardized system for the purposes of business process modeling. BPMN is essentially a flow chart method that illustrates all steps of a business process. One of its benefits is its flexibility, allowing stakeholders to create diagrams that serve various purposes.
For example, BPMN diagrams can be used to provide stakeholders with a broad overview of a process. They can also be used to create highly detailed diagrams that provide practical guidance to the stakeholders responsible for performing tasks. It achieves this using a standardized system of elements and symbols. The four common elements of business process diagrams are:
- Flow objects. These include events, activities, and gateways.
- Connecting objects. Solid lines indicate the transfer of tasks while dashed ones are messages.
- Swim lanes. These detail responsibilities for sub-tasks and the people or departments responsible for completing them.
- Artifacts. These are used to add information to a diagram that are not sequence or message flows.
Value Stream Mapping
Value stream mapping is used to illustrate the steps in a business process. The primary goal of this methodology is to identify the places where a process can be improved by removing waste. There are several different types of waste that stakeholders seek to identify. These include:
- Waiting. This is a production delay caused by a bottleneck in a previous process.
- Motion. Unnecessary steps that result in a task taking longer and costing more.
- Transport. Reducing steps involving the transport of supplies or information.
- Overproduction. Producing more than demand resulting in waste or storage costs.
- Over-processing. Taking too long trying to be perfect rather than transitioning to the next phase.
- Defects. Requires doing over or produces an item that must be scrapped.
Conclusion:
Software start-ups are becoming more and more popular and the burgeoning industry is expected to continue growing at a very fast pace. The benefits of using software applications offer an advantage over the traditional businesses, especially in the area of efficiency and profitability. Business model software best is a type of software that uses virtual designs for a business to simulate how it will work before investing heavily into dedicated infrastructure.