Is a business plan really necessary? If you want your business to have the best shot at succeeding, a well-crafted business plan is the way to go. Having the right business plan software can help you get there. Business plan software takes the legwork out of writing a business plan by simplifying the process and eliminating the need to start from scratch. Using software from our best business plan software picks can help you build the right plan for your business.

300 business plan templates and related forms you can edit, customize, and print for free. These templates are ideal for seeking investors' funding, securing bank or SBA loans, and goal-setting. Also available are several business planning forms for collecting information, as well as articles on how to approach writing your business plan.

Business plans serve many purposes. Before starting a business, a simple business plan enables would-be entrepreneurs to flesh out their ideas and lay out their vision. When it comes to seeking funding or planning for expansion, a comprehensive business plan is almost always a must. And when it comes to problems down the road, business plans help business owners foresee issues, make adjustments and plan their attack.

'A business that operates without a business plan is a business that is on the road to financial failure,' said Joe Geiger, president and CEO of First Nonprofit Foundation and an adjunct professor at Duquesne University's Graduate Program for Leadership and Ethics. [Free Business Plan Templates for Startups]

Of the several million startups that launch each year, the vast majority fail within the first few years, he said. '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. 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 first part outlines the business's goals in the coming years and how they will be accomplished, Geiger said. 'Who is going to accomplish the goals? What are the milestones on the path to accomplishing the goals? And what people, tools and funds will be needed?' he said.

The second part is a cash-flow forecast, which typically covers a three-year span. The first year includes monthly forecasts, and the second and third years have quarterly forecasts, Geiger explained.

However, most entrepreneurs don't have an accounting background to help them make proper forecasts, he said. Business planning tools should fill that gap. Geiger's own cash-flow forecast template forces entrepreneurs to carefully forecast all revenue and cost items, tells them how much money is needed and when it is needed and warns them of financial problems before they occur. 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. For instance, 'listing a general overhead expense item is meaningless while using rent, electric, etc. results in a meaningful forecast,' he added.

Business Plan Template For Software Development Company

To help you choose the best solution for your business, our sister site, business.com, has in-depth reviews of business-plan software. Below are the top three recommendations: