LivePlan Review

LivePlan Review

About LivePlan

LivePlan is an online “Cloud Based” Business Plan Generator a simple to use system that requires no prior knowledge of Business Plan creation. LivePlan is used by over 200,000 small businesses and entrepreneurs worldwide.

Easy to use step-by-step planning, over 500 sample business plans, and guidance at every step, a fast easy way to create a plan and you require no planning experience.

LivePlan is a tool used for creating and once created used for revising your business plan as you run and operate your business.

LivePlan asks you a series of questions that you need to answer which will enable you to build your business plan. Some of the questions asked seem to be very basic, they are  prompts we often overlook. LivePlan also provides tools for financial planning, scheduling, and tracking while simple, it is all that is required to generate a solid, workable Business Plan.

Look inside

Looking inside LivePlan and how your Plan is structured;LivePlan review

Pitch

Here is where you develop a one-page overview of your business; a one-pager is a great and simple way for lenders, investors, and for your team to be informed and on the same page. Having a one page Pitch gives an easy to grasp overview of the Business Plan without having to read through a full Plan. A simple process where within minutes you can quickly add the business overview, key personnel (if any), also key milestones, creating a clear visual document outlining your business and strategy.

Plan

The Plan section comes as a basic bare bones skeleton where you flesh out and build your plan. Here you describe the details of who you are, what you are about/have to offer, your target market, and basic financials. Simple to understand and thought provoking questions are asked to prompt and guide you through the planning process.

Forecast

Here is where it becomes a challenge for many. However, LivePlan makes it easy; here you will create your Revenue, Expenses, and Profit, you have the choice of forecasting monthly or annually. 

Benchmarks

Using the Benchmarking tool you can compare your business to your competitors. LivePlan using their up to date database can give a comparison for your industry, location, and company size, and give you recent industry averages for these and other key metrics.

Schedule

Here you can set key events get reminders and keep track of your Milestones.

Scoreboard

Budgets, Sales, and Forecasts are the key to any business. Once you’ve forecast your revenue goals and created a budget for your business, using the scoreboard you can track how you are progressing towards the goals. If you use QuickBooks or Xero as your accounting package, LivePlan can connect to these, and you can see your actual performance and how it compares to your forecasts.livePlan review

Pros

  • You don’t require any previous experience in Business Planning.
  • Cloud based system where all of your work data and your business plan are available from any computer (or mobile device) with an Internet connection
  • User-friendly interface makes it easy focus on building your plan
  • Ten plan themes to choose from
  • iPad compatible, (I tried it both on my iPad and iPhone, and it works well)
  • Import financial data from QuickBooks and Xero
  • Create multiple plans (great if you have more than one Business)
  • Create a PDF copy and export to Word .docx

Cons

  • You must have an Internet connection to use LivePlan
  • Even though you can develop multiple plans, there is no way to copy an existing plan (not a big issue for me)
  • Scheduling is very basic but will suffice for most users. (I am used to using advanced scheduling methods such as Primavera or MS Project, for me I like to monitor the critical path for any deviations and capture these early)

The Bottom Line

LivePlan offers a buy/try 60 day 100% refund if you are not satisfied. Yearly or monthly subscriptions are available, and you can subscribe for $19.95/mth on a monthly package or $11.66/mth billed annually, the subscription type can be changed anytime: Note: Currency in USD

My verdict

Easy to use, well laid out with a professional finish. I was very impressed, so I purchased an annual subscription through a special offer of $99 USD, I suggest if you are considering purchasing LivePlan look out for the special offers.

Will I use it, in the short-term yes, long term, occasionally, why? Over the years I have developed my own tools for creating plans, for me these give more detail, the detail I require for monitoring and controlling my businesses.

Do I recommend LivePlan, Absolutely, LivePlan is a fantastic product and well worth the small investment.

Footnote

As I do promote Liveplan on this site, I felt it should have a review and to advise I do get paid a commission for any off Palo Alto’s products sold from the links on this site. Thanks for your Support.

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About Darren Wilkins

Darren

Darren is a semi-retired senior executive and serial entrepreneur who runs a number, of successful businesses both online and offline.

With 30+ years experience in management and as a management consultant Darren has a can-do attitude and offers real practical advice that can be used for any business no matter the size, Darren is using his time focusing on online opportunities and building better businesses.

With global experience managing and directing multimillion-dollar mega construction projects and businesses. Darren has a wealth of practical experience to share and wants to help you and your business.  


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5 thoughts on “LivePlan Review

  1. I have been looking at live plan for a while, I have a business and have realised I need a business plan. Do you think I need live plan or are there other alternatives?

    • Hi Tully, a business plan is essential for the long-term success of any business, LivePlan is a great tool and has everything you need and it is simple to use. Yes there are other alternatives if you search online we are sure you will find many tools similar to LivePlan, however from our experience LivePlan is the best available online tool for business planning. If you are starting out the best way is to write your own plan we recommend you read pur article on business planning and follow the steps set out.

  2. Good day, I have been looking at live plan and was unsure if it was what I need, I tried writing my own plan as you suggest, but i always seem to get confused, I think I will invest in liveplan now. Thanks Monica

    • Hi Monica, you have made a wise decision, LivePlan will be an investment in you business that will give you lifetime benefits. All teh best with your business.

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