The American Dream means something different to everyone, but for some, the dream is to someday own your own business.
One of the hardest things to do when starting a company is to create a business plan for investors or financial backers. Business Plan Lite is just the tool to help get new businesses off the ground.
The app seems more like a learning device for business students in college than a complicated program that only professionals could understand. That’s the great thing about Business Plan Lite. It is easy to use and takes away the guesswork.
The first page asks users to fill out some basic information about the future of the business, including whether it will be a limited liability, sole proprietor or a partnership. Don’t know what any of that means? No problem, each business structure term has a definition.
Users will be asked for information regarding start-up expenses, listed individually, target customers, marketing plan overviews, planned profit and loss statements, and balance sheet. If you don’t know how to categorize business expenses, the app lists out examples of each. For example, when filling out the balance sheet, users can find out what intangible assets and short-term investments are.
Having taken a few business classes in college, I can say that this is a great learning tool and an easy and viable way to create a clear business plan. Think of it as an introduction to business class without having to pay for tuition or study for the final. After you’ve created your plan with this app, you will feel smarter and less intimidated at the idea of starting your own company.
There are a couple of user interface complaints. For example, the iPad’s keyboard gets in the way of the information on the screen. Users can manually scroll up or down to what they want to see, but that is not evident from the start. It would be better if the images on the screen moved up when the keyboard appeared.
Another problem is that the only “save” spot is at the beginning and the end of the program. It is easy to tap the first or last page to save, but users may forget that they should save before exiting the app and lose everything. It would be nice if each page had a “save” button.
Lastly, when inputting numbers, they must be of numerical value only. No commas or dollar signs. For example, it would be incorrect to input, $5,000. The number must be input as 5000. This is not made clear beforehand and when the final draft is converted to a word document, the numbers show up wrong if they are anything more than numbers.
Although there are a couple of minor inconveniences, this app works well to help future business owners create a plan that they can use to show potential investors and financial backers. The app’s developers are in the process of incorporating Dropbox compatibility and PowerPoint presentation conversions in future updates.
What I liked: When you are finished creating your business plan, you can email it to yourself. It will reformat into a professional looking word document that can be printed out or emailed to anyone.
What I didn’t like: As mentioned above, I didn’t like that I couldn’t save each page as I went. I would like to have had a bit more instructions regarding how to input numbers and the iPad’s keyboard doesn’t interface well with the app.
To buy or not to buy: The price is very reasonable and the app creates a clear and professional looking presentation. It is a great idea for future entrepreneurs. Business professors out there should take a look at this app as a potential learning device as well.
- App Name: Business Plan Lite
- Version Reviewed: 1.5
- Category: Business
- Developer: Mile High Business Plans
- Price: $4.99