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Let’s go over the Basic Information section of the Enloop Business Plan Writing app. The Basic Information section is the first of six sections that you’ll complete as you move through the app on your way to creating your business plan and financial forecasts.
In the app there’s a header for each section and a subheader appears when you click on the section. You’ll go through each section, and when you get to the end of each section the app generates a paragraph of text that summarizes your inputs. You can edit this text and, as you go along, the app compiles all of the text into a PDF business plan document, which you can review here…and download here at any time.
As you complete each section, Enloop compiles all of the information you’ve entered and automatically generates your business plan for you, which you can revise and edit as much as you want, and you can Preview and Download your plans at any time.
The first entry area for the Basic Information section is the Contact section. The information you enter here will be included on the title page of your business plan document.
The next entry area is Share, where you can invite anyone to view and contribute to this business plan. Shared users always have free access to the business plan you’ve shared and do not need to pay for a subscription.
The next entry area is for uploading your logo. The logo will appear on the title page of your business plan. Don't worry if you do not yet have a logo. You can always upload a logo later if you create one.
Enloop’s auto write feature is an enormous time saver that can help you quickly write and rewrite your business plan in a fraction of the time you would have otherwise spent. If you've not yet registered for our 7-day free trial, give it a try!
The next entry area is where you enter your Business Information. Enter the month and year that you want to start your business plan, which can be different than the date you launched the business. Enloop will generate a 3-year financial forecast, starting from the date you enter here.
In the Legal Formation section, select your company’s legal status. You can always change this later.
Then, select your NAICS code in the Industry Look Up section. NAICS means North American Industry Classification System, which is a numbering system used in the United States to classify types of industries. This lets Enloop know what your industry is exactly so the app can compare your forecasts to your industry’s averages.
The next entry area is the Owner Information. You’ll see that the app asks you to enter the owner’s credit score. The number you enter is used in the Business Plan Score algorithm, but the app only includes the first entry’s credit score in the algorithm. And Enloop never shares this information with anyone, ever.
The next entry is Past Performance, and the app includes this information in your automatically generated text for this section.
Next, you’ll come to the Forecast Model area. Here, Monthly detail means that your business plan will display a 36-month report of your financial forecasts. It’s selected by default. But, if you want to simplify your business planning, you can select the annual forecast and display only three years of data. This is helpful if you don’t need or don’t yet have monthly breakdowns for your sales and expenses.
After that is the Currency Format section. This is where you can set your currency formatting to that of your country’s format, which is great because the app then uses your selected format throughout the document and in your financial forecast reports so you don’t have to worry about formatting your currency. The app does that for you.
And finally, you’ll come to the text entry area for this section. You’ll see that the app has compiled a paragraph of basic text for you that has your specific data embedded right into the text. Just click on Edit to make any changes, or keep the text as it is.
You can also add as many additional topics as you want by just clicking on Add Topics. After you’ve completed this section, just save and move on to the next section which is Product and Sales.
Enloop’s Business Plan Writing app feature can help you create and manage all of your business plans. If you've not yet registered for our 7-day free trial, give it a try!