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Create Your Business Plan in Minutes

Type your business idea below.

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How it Works

Questionnaire

Respond to a series of targeted questions about your business goals and objectives.

AI Business Plan Generator

The engine analyzes your responses and generates a business plan tailored to your vision.

SBA Approved Business Plan

Receive a detailed, tailored business plan that aligns with your requirements. Ready for funding.

WHO BENEFITS FROM Plannit?

Aspiring Entrepreneurs

Analyze your ventures through extensive business plans aligned with your vision and goals.

Business Owners

Back your business with a solid plan that aligns with your vision and goals. Perfect for startups and small businesses.

Educational Institutions

Develop your business understanding and vocabulary by analyzing your business idea and creating a plan.

Startups Accelerators

Work alongside your founders as they build their plan to ensure they have a solid roadmap for growth and scalability.

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Funding ready business plan, executive summary, company overview.

Problem Statement

Business Description

Mission Statement

Business Model

Products and Services

Additional Features

Revenue Model

Market Analysis

Target Market

Market Size and Segments

Unique Value Proposition

Risks and Mitigations

Identified Risks

Mitigation Strategies

Financial Overview

Income Statement

Marketing and Sales Plan

Focus On Your Vision

Key features & benefits, ai editing companion.

Modify and regenerate sections of your business plan using premade or custom prompts. Our AI will help you refine your plan to perfection.

Multi-User Collaboration

Invite team members with easy sharing to collaborate on your business plan in real-time. Communicate and make changes together. Collaborate with your partners in real-time as you perfect your plan.

Education Center

Immerse yourself in a rich library of articles, tools, templates, webinars and resources for continuous business and professional growth. Learn all about the key aspects of starting, running and growing a business.

Powered by Chat GPT

Our algorithms are powered the latest in AI technology to ensure the most accurate and relevant output. We use OpenAI's GPT 4 and 3.5 engines for the perfect blend of accuracy and speed.

Business Resources

We recommend a variety of useful tools and resurces that help sustain your growth. We only recommend the best in the business. Filter your needs and equip yourself with the best tools.

Plan Samples

Explore a library of sample business plans we generated to get the idea of what to expect. Currently able to generate viable plans for 50+ industries.

Financial Projections

Take an additional questionnaire about your financial trajectory and get a detailed financial projection + 3 year income statement for your business.

Tools and Templates

Plannit's comprehensive suite that accompany business planning. From pitch decks to financial models, we have you covered.

Plan Export

Download your business plan in an editable .docx format. Fully edit & share your plan with investors, partners, and stakeholders.

Privacy & Security

Rest assured, your privacy is our top priority, and we're committed to keeping your information safe and confidential.

PLANNIT BUSINESS ECOSYSTEM

Frequently Asked Questions

What is a business plan and why is it important.

• Initiate with Your Business Concept: Lay the Groundwork: Start by introducing your business idea into Plannit AI's Business Plan Generator. This first step is crucial, as it sets the tone for a tailored, insightful business plan that truly resonates with your vision. Capture the Essence: Our platform is designed to grasp the nuances of your concept, ensuring that the generated plan accurately reflects the core and potential of your business.
• Navigate Through the AI-Guided Questionnaire: Tailored Interactive Experience: Plannit AI’s AI-guided questionnaire is your interactive guide through the planning process. It meticulously gathers information about your business's objectives, strategies, and market positioning, ensuring a comprehensive and reflective plan. Intelligent Feedback and Suggestions: As you progress through the questionnaire, benefit from smart prompts and suggestions, ensuring that your plan is not just detailed but also strategically sound and aligned with industry standards.
• Generate Your Plan with Advanced AI: Intuitive Plan Creation: With the questionnaire complete, Plannit AI's advanced algorithms intelligently analyze your responses. They then craft a detailed, customizable, and strategically aligned business plan, providing you with a structured, coherent, and actionable format. Benefit from AI-Powered Insights: Plannit AI offers AI-driven insights and suggestions, ensuring your plan is not just a document but a strategic tool equipped with tailored AI prompts and an in-app plan editor. Get inspired by browsing through our sample business plans, a collection of successful strategies across various industries.
• Finalize Your Plan with Confidence: Dynamic Adaptation and Refinement: Plannit AI recognizes that a business plan is a living document. Our platform allows for continuous adaptation and refinement, ensuring your strategy remains agile, relevant, and aligned with your evolving business goals. Professional Presentation and Sharing: Once your plan meets your standards, utilize Plannit AI's export features to present your plan professionally. Choose between various formats for exporting your business plan, ready to impress stakeholders, attract investors, or guide your team. Review and Adapt: Ensure your business plan is a living document, ready to evolve with your growing business. Plannit AI's dynamic platform allows you to adapt your strategy as new opportunities or challenges arise.

How to Write a Business Plan?

• Roadmap for Success: At its core, a business plan acts as a strategic guide, providing detailed steps on how your business will achieve its objectives. It helps you navigate the startup phase, manage growth effectively, and tackle unforeseen challenges with a well-thought-out strategy.
• Securing Funding: For startups and businesses looking to expand, a business plan is crucial for securing loans or attracting investors. It demonstrates to potential financial backers that your business has a clear vision, a solid strategy for profitability, and a plan for delivering returns on their investment.
• Informed Decision-Making: A well-prepared business plan offers valuable insights into your market, competition, and potential challenges. This information is vital for making informed decisions, from day-to-day operations to long-term strategic shifts.
• Market Analysis and Strategy: It allows you to conduct an in-depth analysis of your target market, understand customer needs, and position your product or service effectively. The marketing strategy outlined in your business plan helps in identifying the best channels and tactics to reach your audience and achieve market penetration.
• Financial Planning: One of the most critical components of a business plan is the financial forecast. It outlines your funding requirements, expected revenue, profit margins, and cash flow projections. This section is essential for budgeting, financial management, and ensuring the financial viability of your business.
• Goal Setting and Performance Measurement: A business plan sets clear, measurable goals and objectives. It provides a framework for monitoring performance, measuring success, and making necessary adjustments to stay on track.

Who Can Benefit from Plannit AI?

• Aspiring Entrepreneurs: If you're at the idea stage, looking to transform your vision into a viable business, Plannit AI offers the tools and guidance to bring your concept to life. Our platform helps you articulate your business idea, define your target market, and develop a solid plan to turn your dream into reality.
• Students and Educators: For students delving into the intricacies of business planning and educators teaching the fundamentals of entrepreneurship, Plannit AI serves as an invaluable resource. It provides a practical, hands-on tool for learning and teaching how to create detailed business plans, analyze markets, and understand financials in a real-world context.
• Startup Founders: In the dynamic startup environment, Plannit AI is the ideal partner for founders looking to pivot quickly, secure funding, or understand their competitive landscape. With our AI-driven insights and market analysis tools, startups can make informed decisions and adapt their strategies to thrive in competitive markets.
• Small Business Owners: For small business owners seeking to optimize their operations, expand their customer base, or explore new markets, Plannit AI offers targeted solutions. Our platform simplifies the planning process, enabling owners to focus on growth while managing the day-to-day challenges of running their business.
• Consultants and Freelancers: Consultants and freelancers specializing in business development, strategic planning, or financial advising will find Plannit AI a powerful addition to their toolkit. It allows them to provide clients with comprehensive, data-driven business plans and strategies, enhancing the value of their services.
• Non-Profit Organizations: Leaders of non-profit organizations can leverage Plannit AI to plan initiatives, secure funding, and manage resources more efficiently. Our platform helps non-profits articulate their mission, set achievable goals, and measure their impact, ensuring they can make a difference in their communities.
• Innovators and Inventors: Individuals looking to commercialize innovative products or technologies can use Plannit AI to navigate the complexities of bringing new ideas to market. From patent strategies to go-to-market plans, our platform covers all bases, ensuring innovators can focus on what they do best.
• Small Business Development Centers (SBDCs) and Government Agencies: Government and SBA backed entities can greatly benefit from integrating Plannit AI into their services, enhancing their ability to support a larger number of clients more efficiently. By facilitating quicker, more in-depth business plan development, these organizations can spend more time assisting with plan execution and less time on creation, ultimately serving their communities more effectively.
• Anyone with a Business Idea: Ultimately, Plannit AI is for anyone with a business idea, regardless of industry, experience, or stage of business development. Our mission is to democratize business planning, making it accessible, understandable, and actionable for everyone.

Why is Plannit AI the best choice for an AI business planning software?

• Interactive Questionnaire and ChatGPT Integration: Plannit AI transforms the business planning process into an engaging conversation. Through our advanced ChatGPT integration, we offer a questionnaire that dynamically adapts to your responses, ensuring your plan is personalized, comprehensive, and aligned with your business goals.
• Dynamic Planning Environment: Unlike static templates provided by many, Plannit AI introduces a living platform that grows with your business. It features real-time updates, strategic insights, and a feedback mechanism that keeps your business plan current and actionable.
• Extensive Educational Resources: Our Education Center is packed with articles, guides, and sample plans to bolster your planning process. It's designed to arm you with the knowledge to navigate the complexities of your industry confidently.
• Enhanced Collaboration and Customization: Recognizing the collaborative essence of business planning, Plannit AI supports team efforts with multi-user editing, annotations, and feedback features, ensuring a comprehensive approach to your strategy.
• Customer Success Stories: Our users' achievements are a testament to Plannit AI's effectiveness. These success stories illustrate how diverse businesses have utilized our platform for strategic planning and growth.
• Tailored Business Plan Creation: Our platform stands out with its tailored approach, featuring customizable templates that directly cater to your business type and industry, making plan creation straightforward and relevant.

How can ChatGPT help me to create business plans?

• Content Generation:: ChatGPT helps draft various sections of a business plan, from executive summaries to marketing strategies, by providing structured and coherent text based on the prompts given.
• Strategic Insights: It can offer suggestions on business strategies by analyzing trends and providing examples from a wide range of industries.
• Financial Planning: While it can't replace professional financial advice, ChatGPT can guide the structure of financial projections and statements, helping you consider important financial aspects of your plan.

Take The First Step Towards Success With our AI-Generated Business Plans

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AI Business Plan Generator

Craft a successful business plan and roadmap for any new business.

Full Business Plans In Minutes

Gone are the days of spending months and hours creating a business plan. With Simplified's free ai business plan generator, you can create one in minutes. Whether you're a startup, small business, or solopreneur, our business plan creator helps you save valuable time by creating a comprehensive by inputting just a few details about your business. Get the roadmap you need to ensure your business's success and longevity!

AI Business Plan Generator Features

Intuitive Interface

Complete Business Plans In Minutes

Time and Money-Saving Technology

Money Saving Business Planning Assistant

Harnessing the power of AI intelligence, the business plan generator helps create a successful business plan using real-time data analysis. From financial projections to market gap analysis, the tool personalizes your business plan and aligns it with your unique goals. No need to hire expensive consultants. The business plan maker tool lets entrepreneurs create clear company roadmaps empowering them with the plan and insight needed to build a successful business.

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Frequently asked questions, can the ai business plan generator handle different types of businesses, can i trust the accuracy and reliability of the generated business plans, do i need any prior business planning experience to use the ai business plan generator, transform your ideas into professional business plans effortlessly.

Start writing your business plan today with the AI Business Plan Maker

What our 10 million+ users are saying about Simplified

Aggregate review rating.

Date - Jan 28, 2024

Efficient and User-Friendly AI Tool

The tool's versatility is a key factor in solving various business problems, contributing to improved efficiency and creative outcomes.

Date - Feb 24, 2024

Simplified is for any business that is fed up with Marketing Firms

Simplified is user friendly , intuitively creative asset for any business wanting to generate ads, posts to drive people to their website. It is great for brand awareness as well as business focused advertising.

Date - Feb 29, 2024

When it comes to managing business processes, simplicity is key, and Simplified delivers just that. The user-friendly interface makes it intuitive for users of all backgrounds to navigate the platform and access the tools they need

Date - Sep 05, 2023

How Simplified lives up to it's name.

Simplified truly stands out in assisting me with my business needs. I have been searching for a service that provides an all-in-one solution, encompassing features such as blog writing, social media management, and marketing

Date - Oct 02, 2023

I literally felt like I hired a team of business experts

With Simplified, I able to get help my business plan, create a brand kit that included everything involving my business like pictures, fonts, slogans, and logos, which made it very easy to create marketing campaigns.

Date - Oct 05, 2023

Great Tool, You Can See They've Really Put The Effort In To Providing What You Need

I use Simplify every day and am well impressed by this new tool for myself as an online business owner/digital media creator/marketer.

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Plannit AI - Free AI Business Plan Generator

Plannit AI is a free AI-driven business plan generator. Create a 15-20 page business plan quickly and easily by simply responding to a series of questions about your business. After generating the plan, Plannit AI  provide access to resources and tools to help you realize your vision. Save time and money while still enjoying a professional-grade business plan.

Plannit AI is compatible with the following platforms and devices:

Plannit AI can be integrated with the following third-party platforms and tools:

• Google Analytics
• Google Search Console
• Google Tag Manager
• Google Drive

* For the complete list of available integrations visit Plannit AI website.

Plannit AI offers the following subscription types:

Billing options include the following:

Membership packages:

There are membership packages at Plannit AI.

• API is Available.
• Community Hub is Available.

Plannit AI Review: An In-Depth Overview

What is it .

Plannit AI is an innovative AI-powered business planning platform. It leverages advanced AI algorithms to assist entrepreneurs and businesses in creating, refining, and implementing comprehensive business plans. Plannit AI is designed to simplify the planning process, making it more intuitive, interactive, and efficient.  

How It Works 

The platform uses the GPT API to provide real-time, iterative feedback to users. As users input their business ideas and data, Plannit AI generates suggestions, insights, and guidance tailored to their needs. This dynamic interaction ensures a personalized and highly relevant planning experience. 

After the seven questions are answered, a complete 15-20 page business plan is generated for the user. Plannit AI then uses AI to suggest needed business resources to accomplish the plan.  

Use Cases  

Entrepreneurs and Startups: 

Plannit AI is great for crafting detailed business plans, market analysis, and strategy development. 

Small and Medium Businesses: 

Plannit AI can refine business strategies, explore new market opportunities, and optimize operations. 

Educational Institutions: 

Plannit AI can also be a teaching tool in business and entrepreneurship courses. 

Consulting Firms: 

Plannit AI can augment consulting firms' services with AI-powered insights and analysis. 

Features & Highlights

• Free Business Plan Generator.
• Multi-User Collaboration.
• Curated Business Resources.
• AI Editing Companion.

FAQ: Answers to Your Burning Questions

AI Tool FAQ: Answers to top questions about Plannit AI.

Plannit AI is a dynamic AI-based software crafted to streamline the complex task of drafting comprehensive business plans. It goes beyond mere planning by providing an extensive educational center and various resources to effectively implement your business ideas.

Plannit enables users to swiftly create detailed business plans, typically within a few minutes. However, the time taken can vary based on your business's complexity and the depth of details you wish to include.

No prior experience is needed. Plannit is designed to be user-friendly for both novices and experienced business professionals. It offers customized prompts and AI-powered suggestions to guide you through each step, ensuring thoroughness.

Yes, Plannit features a live editor allowing for ongoing modifications. This ensures your business plan can be updated to reflect the evolving nature of your business vision.

Plannit provides a comprehensive set of tools for realizing your business goals. These include an intuitive questionnaire for initiating your plan, a Live Editor for continuous updates, and features for team collaboration. You can expect to produce a detailed 15-20 page business plan, along with access to a wide range of resources for business development.

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Customer Reviews

App is wonderful to use, if you have any questions please reach out to me!

Helped me put my vision on paper in minutes... actually crazy that this tool is completely free

Plannit does a great job at taking all of my ideas out of my head and allowing me to get a full business plan from it. As an entrepreneur that likes to launch new businesses and create new products, it's good to have a tool that allows me to be able to see my vision on paper before I build the product

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AI that writes a business plan for you.

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Just answer a couple of questions about your business, and we'll generate a comprehensive business plan for you.

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Instantly generate everything - blog posts, social media posts, sales copy, and more - all in your tone and with your business in mind.

"As someone who was always daunted by the idea of drafting a business plan, Venturekit was a game-changer. The process was intuitive, and the generated plans exceeded all my expectations."

"The scalability and consistency of Venturekit's business plans have streamlined our expansion strategies. It's impressive how tailored and detailed each plan is, despite being AI-generated."

Frequently asked questions

6 Best AI-Powered Business Plan Generators (December 2023)

An entrepreneur is, in essence, a maker of plans. Actionable, specific plans for the realization of things that don't yet exist; turning ideas into action.

It sounds simple, but any business owner who has tried to start, build and grow a business knows how tricky this skill can be. Because, let's face it: business is too complicated to simply sit down and make 'one plan, one business plan to rule them all...'.

It's product and marketing plans. It's legal and financials; customer support and content plans. If you're doing it right, entrepreneurship means you are always standing at the edge of your next plan, always in a position to pivot as new information comes in and to update your plans accordingly.

The problem with such dynamic planning is that it takes time. Time to write out your plan. To assess what happened, and reassess if the current gameplan is still the best path. To think through the expected outcomes, costs and ROI.

Let alone making plans for things you're not-so-well-versed in. "I know I should have a Customer Onboarding Plan, but can someone please remind me of best practices again?"

Fortunately, we live in 2023 and some of the most powerful AI models in existence are available to help us with the more mundane and administrative side of business planning; so that you can focus on the strategic inputs and let your new AI-powered tools fill in the details.

In this post, I'll be sharing 6 of the best such AI-powered business plan generators. From tools to help you write out a formal business plan proposal (say, for applying for a business loan) to apps that will guide you through and generate plans for every step of your business building journey.

Let's take a look.

Best AI-Powered Business Plan Generators (2023 List)

• Tarkenton GoSmallBiz

Bizway is a little bit different to the other platforms on this list. From the ground-up, it's built with a simple idea: every task in your business deserves an AI Assistant. And while that absolutely does include business plan writing; it also includes every other step in that process.

When you're planning your business, you'll need some help with a variety of tasks. With Bizway, you can create:

• Market Research Assistants: To help you estimate market size, brainstorm target market segements and help with your pricing;
• Product Experts: To help you brainstorm product ideas, features, and how you'll develop it;
• Social Media Marketing Assistants: To write your content, brainstorm topics and ideas, do keyword research, and whatever else;
• And whatever other roles you need to help perfect your business plan.

This gives you full flexibility and freedom to sharpen your thinking and ideas for your business, before concretizing it in a more formal business plan.

Then, if you do need a more formally written document for an investor or when seeking funding, simply:

• Fill in the Business Model details that you'd like to include;
• Create a custom AI Assistant, name it 'Business Plan Writer' and give it instructions about styling, length and sections;
• Toggle on your new Business Plan Writer Assistant, and simply ask it to 'Write my business plan in full';
• And voila! Your business plan is served;
• Bonus: You can then follow up and ask for specific sections or details to be added/rewritten as you please.

The best part? Bizway doesn't end with a business plan. Once you have your plan, Bizway can serve as your new hub; with a team of custom AI Assistants to help you launch, grow and manage your business going forward.

Try Bizway .

2. LivePlan

Next on our list is LivePlan. This AI-powered tool is best known for its step-by-step guidance and interactive financial forecasting. It features easy-to-use templates and pitch guides, which can be a great starting point for startups and SMEs. LivePlan's Pitch feature helps you to quickly prepare a one-page infographic that highlights your business idea and its profitability to investors.

In addition, LivePlan allows you to benchmark your forecasts against similar businesses, giving you an insight into your competitive standing. The tool's performance dashboard also keeps you updated on your business progress, ensuring you stay on track with your plan.

3. Upmetrics

Upmetrics is an excellent AI-powered business plan generator that offers a plethora of features including a business plan editor, financial forecasting, and a collaboration feature that allows your team to work together on the plan. One standout feature of Upmetrics is its repository of more than 20,000 business ideas, which can provide inspiration for your own venture.

Additionally, Upmetrics has a Business Plan Analytics feature that allows you to analyze your business strategy and optimize your plan for maximum effectiveness. This is an excellent tool for entrepreneurs who want a deeper understanding of their business strategy.

4. IdeaBuddy

IdeaBuddy is a novel AI-powered business plan generator that targets entrepreneurs and startups in the initial stages of planning. The platform takes users through an organized idea development process dubbed "Idea Journey" that includes creating a business concept, building a business model, and planning a budget.

IdeaBuddy also offers an attractive feature named Storyboard. This tool allows you to visualize your business journey and share your vision with potential investors and stakeholders, fostering a deeper understanding of your idea.

5. GoSmallBiz

GoSmallBiz is a comprehensive business plan generator powered by AI. It covers all the essential aspects of a business plan including executive summary, company description, product/service line, and market analysis.

What sets Tarkenton GoSmallBiz apart is its integrated educational resources. With hundreds of business courses and webinars, users can deepen their business knowledge while creating a business plan. The AI tool also includes a real-time performance score that provides immediate feedback on your plan.

Rounding up our list is Bizplan, an AI-powered tool that makes business planning enjoyable with its interactive and easy-to-use interface. Bizplan breaks down the business plan creation process into digestible pieces through its "builder" approach.

Its standout feature is its ability to connect users to a global community of entrepreneurs, Fundable, where you can share ideas and seek feedback. Bizplan also has a robust financial forecasting tool that can help you project revenue, costs, and cash flow.

In conclusion, AI-powered business plan generators are an invaluable resource for entrepreneurs, startups, and small businesses alike. They not only simplify the business plan creation process but also provide insights and features that can significantly boost the success of your venture. With tools like Bizway, LivePlan, Upmetrics, IdeaBuddy, Tarkenton GoSmallBiz, and Bizplan at your disposal, you can confidently create a business plan that is both compelling and investor-ready.

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Bizway is brought to you by Landmark Labs Ltd.

©2024 Bizway Labs

World's Best AI Business Plan Generator

Fill out simple forms, select language, and get a business plan in under 15 minutes. Try It Out!

Who is this for?

Entrepreneurs looking for investor funding.

Our AI business plan generator helps entrepreneurs in creating professional business plans designed to impress potential investors and secure funding

Business owners and entrepreneurs looking for a bank loan

Our AI business plan generator is SBA-approved and follows to most banks' business plan template.

For anyone looking to make a business plan

Whether you want an AI generated business plan for self-learning, as a reference for a project, or for submission to a non-financial institution, we've got you covered.

What customers say about us

Our ultimate goal is to make a product that you love, to do that we need feedback. So we try to talk to as many customers as we can

Mentioned In..

Language Support

At the end of the plan creation process you can choose to generate a plan in multiple languages including..

How it works?

Our AI business plan generator guides you through a few questions, once done a business plan example will be generated

Enter General Business Information

Only basic business information is required e.g. business name, number of employees, and a little financial data

Edit and Save

Once your AI plan is generated you can easily edit the plan with our "Talk To Plan" feature. You can input what you want changed and AI will take care of the rest

Key Benefits

Our ai draws business knowledge from the entire internet.

GPT-3.5 and GPT-4 are our cutting-edge language models, trained on vast quantities of internet, book-based resources, business plan examples, and has demonstrated its knowledge by passing the Wharton MBA exam among many others

The whole process can literally take 15 minutes

Gone are the days of laboring over business plans for weeks on end, our AI business plan generator can create a comprehensive plan in just 15 minutes.

Our AI generated business plan template won't let you down

create a professional business plan in just 15 minutes with our AI business plan generator

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Introducing the LivePlan Assistant

Save time with LivePlan’s AI business plan generator

We built LivePlan to make business planning faster, easier, and more enjoyable for everyone. 

But we know that business planning can still be challenging. 

• You have a great idea, but you’re staring at a blank page and wondering how to put your idea into words
• You’re writing a plan for a lender and you’re worried your plan doesn’t sound professional or contains errors
• You know a few details about your target market but need to make it more specific
• You’re ready to start your forecast but wondering what revenue and expenses to add

That’s why we created our AI business plan generator: LivePlan Assistant .

Meet LivePlan Assistant

Combining the speed, flexibility, and sophistication of various AI models with over 40+ years of extensive business planning expertise, the AI business plan generator’s features within LivePlan Assistant address many of the challenges our customers share around what makes business planning difficult, and ensures your plan is the best that it can be.

Explore LivePlan Assistant’s powerful features below.

Help Me Write

Welcome to a world without writer’s block

What if you could list as much (or as little) detail about your business and automatically create each section of your plan? 

With Help Me Write —you can.

Jot down a few details, ideas, or thoughts, click “Help Me Write”, and see LivePlan Assistant generate ideas for each section of your plan. Don’t have any ideas? No problem. LivePlan Assistant will create ideas for you. 

Learn More About Help Me Write → 

Instantly improve your writing

You need a convincing plan that’s sure to impress lenders or investors, but you’re not a professional writer and you want to be sure the plan you are sharing is the best it can be.

LivePlan Assistant’s Rewrite automatically improves your writing:

• Quickly add details or condense a topic
• Adjust the tone of your plan to cater to specific audiences like investors, lenders, or teachers
• Check for grammar and spelling errors
• Adjusts writing to sound more engaging and compelling

Learn More About Rewrite → 

Suggested Revenue Streams

Forecasting, now faster than ever

If you’re just starting your business - it might not be easy to imagine all the places your revenue might come from. And if you’re growing your business, maybe you’re looking for ideas on new ways to drive revenue.

LivePlan Assistant’s Suggested Revenue Streams allows you to start your first forecast, or identify potential new revenue opportunities - fast. Enter a few words about your business and get suggestions for revenue streams that are specific to your business.  

Learn More About Suggested Revenue Streams → 

Frequently Asked Questions

Why are you introducing an ai business plan generator.

Whenever we choose to pursue new features or make updates to LivePlan, it’s with the goal of making business success available to everyone. And as we began to experiment with the capabilities of generative AI to run our own business we realized that it could be a game changer for small business owners. Now, that doesn’t mean we’re trying to invent a plan-writing “easy button”. We believe that part of becoming a successful business owner is understanding the planning process so that you can review, iterate, and grow. An automatic plan writer doesn’t help you do that.

Will there be more AI features?

Yes, there will be new AI features that expand on the capabilities of the LivePlan Assistant. Be sure to opt-into these Betas as they are released so you can test the features yourself. You’ll be prompted on login, or you can opt-in in your Account Settings. We truly believe that incorporating AI within LivePlan will improve the product and help users, like you, succeed in growing your business. While we can’t get into specifics about upcoming features, just know that what we are working on will further strengthen your ability to write a useful business plan, build an actionable financial forecast, and analyze your business’s actual results.

How can I access the LivePlan Assistant?

The LivePlan Assistant is live for every Standard and Premium user right now. If you have trouble finding these features, ensure you’re opted into the necessary Beta programs in your LivePlan Account Settings. If you have any questions about the AI Assistant or other LivePlan features, reach out to our Customer Advocacy Team for assistance

I’m not sure about AI, can I opt out?

This and other future AI tools will be on by default, but you can easily turn them off.  We do understand that you may have concerns about the potential risks and consequences of using AI. You may be worried about the broader impact on society, or just value creating your plan from scratch.  To address these concerns, we are committed to making our AI features entirely optional. We believe in the freedom to choose how you use our product and want to make it easy to opt in or opt out of LivePlan Assistant and any future AI tools.  To opt out, head on over to your account settings.

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Enhance your business plan with easy-to-create charts and graphs that investors and lenders love to see in your business plan. 

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Create a standout pitch deck with our AI Pitch deck Generator. Our tool ensures you hit all the key points investors are looking for.  Learn More

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Leverage our AI to auto-generate a compelling pitch deck directly from your business plan. 

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Easily share your pitch deck online with investors and lenders, ensuring you’re always pitch-ready. Download your deck in PDF or DOC formats.

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I was thrilled to find templates on Upmetrics that helped me streamline my Business Plan updates and create a pitch deck to help me secure new partners and funding.

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The World’s Best AI Business Plan Generator

PlanPros’ AI-powered business plan generator is the absolute quickest and easiest way for you to create a professional business plan.

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You will be able to complete and print out your professional business plan within minutes. That being said, we recommend reviewing and editing your plan…even with these additional steps, you should be able to complete your entire business plan within 1 hour of starting. 

We have different plans from which you can choose. See our  plans & pricing here .

Some sample questions include:

• Tell us briefly about your business?
• Which of the following promotional tactics might you want to use to attract new customers (click on relevant tactics from our comprehensive list)
• Briefly describe your background or provide us with your LinkedIn URL so our AI can write the management team section of your business plan.

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12 AI Business Plan Generators to Start Any Business in 2024

15MinutePlan

Wordkraft ai, beautiful ai.

• Brixx Plan Software

Useful ChatGPT prompts for writing a business plan

Tips for using chatgpt to create a business plan, how to make sure the ai-generated business plan is good enough.

Hello! My name is Arto Minasyan, I’m the Founder and CEO here at 10Web, and a Co-Founder at Krisp. I’ve earned a PhD in Mathematics, in addition to a BA and Master’s in Physics, as well as an MBA. I am a serial entrepreneur, and I know that crafting a business plan can seem like a daunting task. 

However, whether you are launching a new business or seeking growth for your current venture, it’s vital to communicate your vision in a thorough business plan.

That’s why I’m excited to share this list of AI business plan generators alongside a few personal tips that I think will inspire you and aid you in creating a well-structured and detailed business plan.

12 AI business planners to help you start your business fast

Generate and refine an executive summary.

Free Plan Paid plan: From 12$ / month

Key features

• AI-generated, customizable business plans.
• AI-assisted enhancing and editing.
• Efficient process with only 4 questions.

Grammarly’s AI Business Plan Generator is a tool designed to assist aspiring entrepreneurs in creating an Executive Summary for their business plans. This tool is a part of Grammarly.com’s suite of AI-assisted writing and proofreading tools. It’s specifically tailored to generate business plans suitable for various types of businesses, leveraging Grammarly’s expertise in enhancing writing quality through AI-driven suggestions.

The AI Business Plan Generator operates in a straightforward and user-friendly manner. Users start by answering a few questions describing their business, including marketing and financial details and competitor information. With only 4 questions to answer, the more detail you can provide, the better the generated results will be for your business plan.

Once Grammarly generates the business plan, you can use its familiar tools to adjust the text for formality, tone, and length, in addition to the usual suggestions for grammatical improvements. The generated draft includes sections with customized, more fully developed plans that reflect your original responses, allowing you to focus more on refining ideas and less on the intricacies of writing.

Detailed AI-generated business plans.

Free to try Paid plan: From 99$

• Quick, AI-generated plans.
• ChatGPT 4 available.
• Detailed business plans.
• Editable via "Talk To Plan".

15minuteplan.ai is an AI-powered tool designed to create professional business plans quickly and efficiently.  While it aims to help anyone who needs a business plan, with its ability to personalize financial statements and plans, it might be of particular interest to those seeking investor or bank funding.

This AI business plan generator relies on GPT-3.5 and GPT-4 to draw upon a vast array of deep sources, significantly reducing the time and effort traditionally required to create a business plan.

As described, the process of creating a business plan with 15minuteplan.ai takes about – you guessed it – 15 minutes. Users begin by answering seven critical questions that cover the business plan’s purpose, descriptions of products or services, target customer groups, drivers of success, weaknesses, budget and spending plans, and financial details. The handy AI-assisted suggestions can really speed up this Q & A part of the process. 

Based on these responses, the tool generates a detailed business plan encompassing various elements such as an executive summary, industry overview, SWOT analysis, marketing strategies, segmentation, targeting, positioning (STP), product strategy, operations plan, management roles, financial projections, and risk mitigation strategies. 

While access to the full business plan requires signing up, 15minuteplan.ai offers a substantial preview of the generated business plan to get an idea of what’s included. Additionally, the platform features a unique “Talk To Plan” option, allowing users to easily edit their AI-generated plans by specifying the changes they want, which the AI then integrates effortlessly. This system streamlines the entire process of business plan generation, making it more accessible and less time-consuming.

AI-enhanced business plan templates.

Free plan Paid plan: From 20$ / month

• AI-assisted template interface.
• Customizable business plan sections.
• AI generated content options.
• Flexible tone and style settings.

As the name suggests, Copy AI is an AI writing assistant leveraging AI’s power and natural language processing. Copy AI allows you to write almost anything, from optimized blog content to digital ad copies, eCommerce copies, sales copies, social media content, and more. 

You can also use Copy AI as an AI business plan generator for almost any kind of business by logging in and selecting from a range of premade templates available online .  

Once you have selected a business plan template, you’ll be prompted to fill in the following details: 

• Your business name 
• A description of the problem your business solves
• A description of how your business will solve that problem
• The target market description
• Revenue model description

Besides providing you with a variety of business templates,  Copy AI allows you to customize details such as the tone of your content and more. 

AI-assisted business plan writing.

Free plan Paid plan: From 29$ / month

• Utilizes GPT-3.5 for content generation.
• Customizable business plans available.
• AI-assisted editing for refinement.

WordKraft is an AI-powered web application for generating optimized, authentic and high-quality content for various needs, such as marketing, blogs, and social media. Like many AI tools, Wordkraft runs on the powerful large language model GPT-3.5. 

You can also use Wordkraft’s free business plan template to generate a draft . Using the Wordkraft template, you’ll be asked to enter details about your business to guide the AI tool when generating the business plan.

Some details you’ll have to provide include an introduction of the business, the benefits, how the business solves the problem, the market for this product or service, and how to reach the target audience and make business.

Wordkraft is an excellent AI business plan generator for entrepreneurs looking for an easy-to-use interface and access to advanced features such as language and tone of voice options. This AI business planner generator also allows you to select the level of creativity that you need.

Generate presentations based on text prompts.

No Free plan available. Paid plan: From 12$ / month

• Professional slides, powered by AI.
• Design prompts for presentations.
• AI-generated content tools.
• Smart, auto-created templates.

Beautiful AI is a generative ai presentation software that enables businesses to create stunning presentations with minimal effort. With Beautiful AI you can access modern and creatively designed templates that you can use to jumpstart your presentations.

Luckily, Beautiful AI prowess extends as a business plans presentation and AI business plan generator.  Using Beautiful AI, you can create elegant business plans and presentations by selecting from a collection of quality templates. 

Beautiful AI gives you access to 100+ templates. You also don’t need any design skills to create a beautiful presentation or a business plan.

AI tool collection for documents & media.

• AI tools for documents, graphics, media.
• Enter plan details to generate.
• Suitable for diverse business types.

Simplified is a collection of AI-powered tools that can help individuals or businesses of any size easily accomplish some tasks. Some of the tools offered by Simplified AI include an AI presentation maker, image generator , AI writer, AI content rewriter, image resizer, and more.

Among the many AI capabilities of Simplified is also an AI business plan generator. Using Simplified, small businesses can generate a business plan using the templates provided. These templates already contain the outline and structure of how the business plan should look. All you have to do is select the desired tone and the output language.

Alternatively, you can open Simplified AI Writer and start on a blank canvas. However, you must give context and instructions on the business plan you want to generate.

Simplified has many built-in tools , such as Grammarly and graphic design , video editing, and image generation capabilities. Leverage these tools to create stunning customizable design templates, photo, video, and graphic assets for your business plan and other business needs.

AI-assisted note-taking and templates.

Free plan Paid plan: From 10$ / month

• Especially helpful for Notion users
• AI integrated note-taking system.
• Customize business plan templates with AI.

Notion AI is a productivity and workspace application capable of doing so many functions. You can use Notion as a project management app for note-taking and docs management, setup team spaces, and so much more. 

While Notion is not specifically designed as an AI business planner, it includes features that can help accomplish so much in that area. Notion AI can help you design quality, interactive, and shareable business plans using templates. You do not have to start from scratch while designing your business plan.

If you have a team, Notion makes this even better. Your team members can collaborate and contribute ideas seamlessly. You can also leave feedback and integrate many useful tools such as Google Docs, Trello, and Slack. 

AI apps for different purposes.

• Collection of easy-to-use AI tools.
• Minimal interface, powerful tools.

Cookup AI is a database of AI tools that you can use to achieve different tasks. Designed with non-technical users in mind, Cookup AI enables users to filter through the thousands of AI tools available and find exactly what they are looking for instead of navigating from site to site.

Among the collection of AI tools by Cookup AI is an AI business plan generator. Cookup AI business plan software is designed with a minimal interface allowing users to generate comprehensive business plans that outline their business goals, strategies, and objectives.

Remember to provide enough context and information about your business in a descriptive way to enable the  Cookup AI business plan generator to get the details of your business plan right. 

Using Cookup AI, your business can save a lot of time and effort as it is straightforward. However, you should work closely with your team members to ensure the business plan accurately reflects your business visions and goals.

Collaborative Business Plan Development.

Free plan Paid plan: From 8$ / month

• Cloud-based collaborative documents.
• Real-time collaboration, editing, sharing.
• Embeds multimedia in business plans.
• Free and premium template options.

Bit AI is a cloud-based collaboration platform that allows multiple teams within organizations spread around the globe to collaborate and organize and manage documents all in one place . Some of the documents that you can manage include wikis, knowledge bases, projects, client deliverables, technical docs, training guides, and client portals.

Using a set of prebuilt templates , you can also use Bit AI to create a modern business plan for your new business venture. Apart from access to high-quality business plan templates, using Bit AI  allows you to collaborate in real-time, create responsive and private documents, interlink business plan documents, and track engagements on the document.

Using Bit AI, you can also make your business plan more engaging by embedding web links, lucid charts, draw.io, Figma, Youtube, Vimeo, Airtable, Google Sheets, and more.

Bit AI has a free business plan template to get you started. You can also access over 65 smart slide templates to help you with your design.

AI platform designed specifically for business plans.

No Free plan available Paid plan: From 20$ / month

• Collection of tools for business plans
• Pro plan review & guidance available.
• Quick start for many business categories.
• AI LivePlan assistant.

LivePlan is a business planning software with a set of different features to help you set up your business and tools to support you every step of the way. LivePlan is an automated business plan creation software that works for any type of business at any stage. 

LivePlan breaks the business plan-building process into simple steps that are easy to follow. Its templates also conform to the usual business plan structure but can be customized as you deem fit. 

LivePlan is an excellent AI business planner due to its large collection of templates and customizability. Remember to take advantage of its financial forecasting and performance tracking features.

The leading AI-based chatbot.

Free plan Paid plan: 20$ / month

• Communicates in human-like language.
• Summarizes intricate subjects.
• Useful for composing, researching, inventing.
• Integrated with Microsoft Bing.

ChatGPT is a revolutionary chatbot powered by machine learning and natural language processing that can replicate human-like conversations. But can ChatGPT write a business plan? 

The short answer is yes, ChatGPT writes a business plan. Although ChatGPT is not specifically designed as an AI business plan software, through a series of prompts with information about your business, it is a great tool for brainstorming, researching, and creating a business plan draft . 

While ChatGPT can generate huge amounts of text, it is wrong to expect it to generate the whole business plan immediately. To use ChatgGPT effectively when generating your business plan, you should understand the various parts of your business plan. Once you understand these sections, you can ask ChatGPT to draft content and guidelines for each section.

Alternatively, you can ask ChatGPT to generate an outline for your business plan. Based on this outline, you can instruct it to draft each part based on your provided information. More on this later.

Brixx Planning Software

Financial forecasting and planning.

Free plan Paid plan: From 13$ / month

• In-depth financial forecasting.
• Suitable for various business sizes.
• Real-time collaboration and scenario testing.
• Combine with ChatGPT for best results.

Brixx software is a f inancial forecast software for cash flow, budgeting, and business planning. 

Apart from that, Brixx is also a business planning software that businesses can use to create a formal business plan that outlines the goals and objectives of their business and a roadmap to achieve them. If you’re curious about AI financial planning for business plans, then Brixx AI business planner might just be the tool you need. 

With Brixx, entrepreneurs can communicate their business goals to stakeholders or share funding requirements with potential investors. If you already have a business running, you can use Brixx to monitor and forecast your business’s financial well-being to ensure it remains on track.

Finally, Brixx software can be integrated with AI tools like ChatGPT to create powerful AI business plan software. You can create a more comprehensive and accurate business plan using this combination.

How to write a business plan with ChatGPT: tips and prompts

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To begin with,  you need to generate an outline for your business plan. ChatGPT can help generate one by running a simple prompt with context about your business.  

1. Generating a business plan outline

Prompt : Generate a business plan outline for a  business selling “X services/products” to other small and medium businesses. 

Using this prompt, we have generated a well-structured business plan outline. The outline contains some of the most important topics you should address in your such as the following:

• Executive Summary
• Company Description
• Market Analysis
• Services and Pricing
• Sales and Marketing Strategy
• Operations and Management
•  Financial Plan

With ChatGPT, you can now generate a draft of each section above. Be keen to provide content in each section to allow ChatGPT to generate content with more precision.

2. Generating executive summary

Prompt : Create a brief overview of the executive summary of “Business X“ and its mission statement.

Other prompts you can use include:

• Discuss the target market and how “business X“ plans to meet their needs.
• Highlight the company’s unique selling proposition (USP) and competitive advantage in the “ X industry”.

3. Performing a market analysis

Prompt :  Write and market research section for my “x” business plan. Please identify the “X” services’ target market. Remember to identify any market trends or changes that may affect the demand for “X” services and estimate the market size and growth potential for the “X” industry.

4. Competition analysis

Prompt: Generate a competition analysis for my business that offer “X” services. Identify competitor strengths and weaknesses.

5. Generating a sales and marketing strategy

Prompt: Generate a sales and marketing strategy for my “X  business”. Include sales tactics, strategies for closing deals, and customer retention strategies.

6. Operations and management

Prompt : Discuss the details of operations for my business plan, such as “X” infrastructure and technology to use, service level agreements, and customer support policies and procedures.

7. Generating a financial plan

Prompt: Generate revenue and sales forecasts, cost structure, and expense projections. Include a break-even analysis and profitability forecasts, funding requirements, and potential funding sources.

8. Conclusion

Prompt: Generate a conclusion to recap the business plan and a call to action for potential investors and customers.

In the section above, we discussed some ChatGPT prompts you can use to brainstorm or generate a draft of a business plan. While most of the outputs sound convincingly accurate and well structured, cross-check every detail and customize the plan accordingly.

ChatGPT is a great tool for business owners and individuals researching and drafting a business outline.  Here are some tips to help you get the most out of ChatGPT when generating your business outline: 

• Be as descriptive as possible when describing your business ideas and goals to help ChatGPT understand your business better. 
• Use keywords relevant to your business to help ChatGPT understand the content of your business.
• Provide detailed information about your competition, products and services, financial projects, and target marketing. Feeding ChatGPT with generic prompts will only generate generalized suggestions that may not be actionable.
• Use ChatGPT as a tool: While ChatGPT is a valuable tool for researching new ideas, it should never be a replacement for human ideas and intuition. Always rely on human expertise and experience when making key decisions. 
• Review, and fact-check :  ChatGPT, and other similar tools are prone to “hallucinations”.  Solely relying on these tools can potentially mislead you. 
• Use up-to-date data sources: Remember that ChatGPT relies on the knowledge it was fed during training. Some of this information could be outdated at the time of writing. It is important to check whether the data and statistics used by ChatGPT are still relevant. 

Most businesses use a business plan to outline the company’s strategies, objectives, and goals. Others use it as a proposal to attract investors on board, identify opportunities, and plan resources. Regardless of your motivation, the quality of your business plan will always impact the results.

In this section, we explore how you can always ensure that your AI-generated business plan effectively communicates your business’s vision. Make sure to also check out these 5 profitable business ideas to capitalize on the AI hype.

1. Edit and review the business plan

While AI business plan generators can save you lots of resources in terms of time and cost, they are also prone to inaccuracies. A thorough review of the plan you have generated allows you to ensure that the business plan you have generated aligns with your business strategy. Through a review, you can also evaluate whether the AI-generated business plan addresses key issues such as market analysis, competition, and financial projections.

2. Make sure it is actionable

A business plan that only gives an overview of the company’s goals, objectives, and financial and market standpoints is not good enough. A better business plan also highlights small, measurable, achievable, realistic, and time-bound ( SMART ) goals with a clear roadmap on how your business can achieve them.

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3. Ensure only credible data sources are used

The accuracy, quality, and credibility of the data sources you use when putting together your business plan directly affect the quality and reliability of your business plan. With the advancement of AI in market research , it has become easier than ever to analyze huge amounts of data. However, it is important that you check whether the sources are credible.

4. Seek expert advice

The advent of AI-powered generative tools has made it easy to create almost anything. However, this does not overrule the importance of seeking the services of an expert. An expert in your business domain can help you discover some mistakes in your business plan that may not be apparent to you. 

5. Make sure it is clear and readable

Just like any other document, a business plan has an audience. Using technical jargon to impress your audience may not be effective in all cases. Therefore is important that you evaluate your AI-generated business plan and ensure that it is written in plain simple language . You may also want to include graphs and visual aids to boost understanding of content and convey important messages.

6. Customize your AI-generated business plan

AI-generated business plans form a good starting point when drafting your business plan. However, AI business plan generators should in no way be a substitute for your intuition and judgment. Every business has unique challenges and needs, it is important that you adapt any AI-generated business plan to fit your needs before using it.

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This is a great article, it helped me to understand how to use AI and what is the human rol when doing it. Thank you.

I’m trying to create a business plan to attract investment for a food truck company, please what free AI software do you think is best for me?

Hi Moyin, most of the tools listed in the article have a free plan available. So what I would suggest is trying 3-4 of them to see which one meets your specific needs the best.

I am starting a small wellness and health business from scratch needed help to create a plan to present to apply for a grant the computer said my email is already linked to ai but I cant log in

Hi Michiel, what tool are you trying to use?

Professional AI Business Plan Generator

From a blank page to a professional business plan in a few clicks.

Use our AI-driven platform to craft a professional business plan for starting a new business, seeking funding, launching products or services, or entering new markets.

Featured on :

“Just used your bizplanner! Nice job! Great tool. Tons of value for $10.”

“This plan is well articulated, the fact that I can edit it makes BizPlanner to be much better than option, also the customer service interaction is worth an applaud.”

“Simplemente espectacular, felicidades.”

How it works

Four Steps to Your Business Plan

Our AI Business Plan Generator efficiently creates a customized, professional business plan for you in less than 15 minutes.

Answer a brief questionnaire

Our ai crafts your plan, edit, format or regenerate, export as pdf/word, watch how to create a business plan in ~1 minute.

Table of contents

Your Business Plan's Table of Contents

Upon generating your business plan, you will receive detailed sections covering everything from your Executive Summary to Financial Projections, providing a complete and insightful overview of your business strategy.

Functional Highlights

Discover the core functionalities of our service, from intuitive in-browser editing to flexible AI regeneration and convenient export options, all designed to streamline your business plan creation.

Examples & Templates

Business plan examples

Explore examples created with our AI Business Plan Generator. These are real outputs from our service, showcasing the depth and personalization achievable for your own plan. Click 'See More Templates' for additional examples.

Vending machine business plan

Trucking business plan

Daycare business plan

Coffee shop business plan

Family entertainment center business plan

Junk removal business plan

Real estate development business plan

Music studio business plan

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From the blog

French Language Option Now Available in Our AI Business Plan Generator

Great news from the BizPlanner AI team! Alongside English and Spanish, we're delighted to announce the introduction of French support in our AI business plan generator.

Spanish Now Supported by Our AI Business Plan Generator

Exciting news for everyone! BizPlanner AI, your go-to AI for making business plans, just got better. From the start, our website has welcomed both English and Spanish speakers. But, when it came to making a business plan, we only had English. Not anymore!

Smart, AI-Powered Suggestions for Your Business Plan

Explore BizPlanner AI's latest feature offering AI-generated suggestions for uncertain areas in your business plan, enhancing planning ease and accuracy

Struggling with Your Business Plan? AI Business Plan Generator Can Help

Creating a business plan is an essential step for anyone starting or running a business. It's like making a roadmap that shows where you want your business to go and how you plan to get there. But, this important task is often filled with challenges.

Business Plan Generator

IdeaMaster is an AI Business Plan generator that uses GPT-3.5 to generate comprehensive business plans for your startup. Simply select your industry and product type to get started.

Business Plan Ideas

Here's a list of business ideas that you can use to start your own business. All of these ideas are generated by our AI.

The Best AI Business Plan Generator

Written by Dave Lavinsky

I’m excited to share with you my article below on the best AI business plan generator because this innovative new technology allows you to quickly and easily create a comprehensive business plan.

AI business plan generators allow you to more quickly and easily create a business plan to start and/or grow your company, but unfortunately, not all are created equally. Most will not help you create a compelling business plan, because they are not programmed properly. And most don’t include full financial projections, which are critical for raising funding.

Fortunately, PlanPros.ai is the exception. PlanPros was built by one of Growthink’s founders and leverages our experience writing thousands of business plans and helping hundreds of thousands of entrepreneurs write plans using our tools. You can test-drive PlanPros.ai for free here .

Below find more information about using AI to generate your plan.

What is an AI Business Plan Generator?

An AI business plan generator uses artificial intelligence to write a business plan.

Importantly, in order to accomplish this, the AI needs to understand:

• What key sections to include in your business plan
• What each section must convey

Unfortunately, the vast majority of business professionals and software developers don’t understand either of these.

Fortunately, we do. Why? Because we’ve been writing professional business plans and helping entrepreneurs, executives and business owners write plans for the past 25 years. And our detailed business plans have been viewed by tens of thousands of lenders, angel investors , venture capitalists and other funding sources. Importantly, we’ve collected feedback from these individuals to fully understand what should and what shouldn’t be included in your AI-generated business plan.

So, what should be included in your plan?

The business plan template below documents each section to include.

Key Sections Your Business Plan Must Include

Executive summary.

The executive summary of your formal business plan should give the reader an overview of your business concept and summarize each of the key sections of your plan.

You should start by concisely explaining your business idea and your business strategy .

If you have a compelling mission statement, include that here. Likewise, if your company name tells an interesting story, document that right away.

Particularly if the goal of your plan is to attract investors, you want to pull readers in so they become quickly excited about your venture. Clearly document your business ideas and business goals. And importantly, discuss the key problems that your business solves in the executive summary.

Company Overview

Here you will include a detailed company description. Document the history of your company. When was it formed? What type of entity are you (e.g., LLC vs. S Corp vs. C Corp, etc.). What accomplishments have you achieved to date?

Industry Analysis

The industry or market analysis section of your business plan shows readers that you really understand the market in which you’re competing.

Be sure to conduct market research from reputable sources that validate your business idea, business model and market opportunity. Make sure that industry trends support the viability of your venture.

Don’t skim on your market analysis, because fully understanding your industry is key to your success.

Customer Analysis

In this section, discuss your target market. Your target market description should detail the key types of customers you currently, or soon will, serve and the market size.

The more you can detail your target audience, the better and more cost-effectively you will be able to target them with your marketing.

Competitive Analysis

In the competitive analysis section of your business plan, you must identify your key competitors and discuss their strengths and weaknesses. Importantly, identify and document your competitive advantage. That is, how are you different from your competitors and why are you poised for long-term success based on these differences?

Marketing Plan

In this section you will detail the marketing strategies you will employ to attract and retain customers. Your marketing strategy should include the 4 P’s.

• Products and services : what products and services will you offer?
• Promotions : what promotional tactics or marketing tools will you use to attract customers?
• Price : how will you price your products and services? Will you be a low cost provider? A premium provider?
• Place : where will you be located and/or how can customers buy from you?

Operations Plan

In the operations part of your business plan, you will discuss the key operational processes your business must perform in order to succeed. Also, detail your growth strategy and milestones here. For example, in what month will you launch? When will you reach $X in sales? When will you hire your Xth employee?

Management Team

The management team section documents the key members of your team and key details explaining why your team is qualified to execute on the opportunity you have laid out.

Financial Plan

In this section, you will present your financial projections. These take the form of a projected or pro forma income statement , balance sheet and cash flow statement.

Your financial plan should detail your business goals from a financial forecasting perspective and show how you will achieve them.

Key to Successful AI Business Plan Generators

As discussed above, artificial intelligence is a great new technology to help businesses generate comprehensive business plans. Unlike traditional software platforms, AI tools allow you to work much faster and efficiently. For example, traditional business plan software cuts down the time to create your comprehensive plan from 100 hours to as little as 10 hours. But, now, AI business plan generators can help you complete your plan in just a few clicks saving you time.

But remember, while an AI tool can be used to create AI-generated business plans, or even a just a one page business plan, if the developer of the AI business plan generator tool isn’t intimately familiar with business knowledge, business planning and the needs of potential investors and lenders, you won’t generate the plan you need.

You are better off using paid business plan templates and/or a free business plan template developed by an expert, than using AI powered tools from someone or some firm without this expertise.

In summary, AI tools such as PlanPros.ai , with its user-friendly interface, can help you quickly and efficiently develop an AI business plan that helps you succeed. Such business plan generators allow you to focus on building your business more than performing the planning functions of writing and developing financial models.

Today’s modern business plan is similar to traditional plans, but fortunately you can now have a generated business plan that’s compelling and can help you raise funding and grow your company.

And, best of all, such software is just as effective for non technical users as it is for AI business experts.

When writing your business plan, and considering using business plan generators, consider the type of business you will be launching. For a traditional business business plan, such as one for a food truck, restaurant, clothing line or manufacturing company, AI tools are better suited than for new business types that AI tools are less versed in.

Regardless of your business type, make sure you intimately understand your target market. Your target audience is who will benefit from and will purchase your products and services. If your target market doesn’t resonate with your offerings, you can’t succeed. So, make sure, when developing your business plan, that you create the right product/market fit with your target market and include all the other key business plan elements discussed above.

Other Helpful Business Plan Articles & Templates

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• Stafford, ST17 4AG,
• Consultants

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The Future of Business Planning

Venture Planner uses cutting-edge technology to generate professional business plans effortlessly. The platform, equipped with an advanced AI interface, guides you through a sequence of multiple-choice questions before generating everything you need, including detailed financial forecasts.

• Fully Bespoke to Your Business
• Professional Forecasting

No Typing Required

Join the revolution.

Since launching in Dec 2023.

Used in every sector and industry.

Helping businesses worldwide.

Outpace Your Rivals with Cutting-Edge AI

Harness the power of Venture Planner to create a winning plan and gain a competitive advantage over your competitors.

Answer The Questions

Here's the ingenious bit, the platform doesn't require you type anything. Instead, the AI will pose a series of questions, gathering information on your vision, goals and ambitions.

Generate Your Plan

Our sophisticated AI then analyses your inputs and generates tailored suggestions and strategies for you to consider. Finally each section of your plan is generated according to your specific requirements.

Next-Gen Business Planning

There is no need for typing and minimal data entry, just answer the questions, we do the rest.

Automated Projections

Quickly create precise and realistic financial forecasts without any financial expertise.

Professional Quality

Created by business leaders and financial advisors our plans are the highest quality available.

Strategy Suggestions

Our AI provides multiple strategies to increase business growth and success.

Powerful AI Engine

Leverage the power of the worlds most advanced AI to supercharge your business plans and growth.

Get the AI Advantage & Overtake your Competitors

Winning strategy.

Craft business strategies that position you ahead of the curve.

By leveraging data-driven insights, you can make informed decisions that propel your business to new heights, ensuring a competitive edge in your industry.

Improved Marketing

Enhance your marketing with AI that understands your audience.

Our system helps you create a marketing plan that will resonate with your target demographic. With our AI, you can ensure that your marketing message hits the mark every time.

Accurate Financials

Trust in AI to deliver precise financial forecasts and budgeting.

Plan investments, manage cash flow, and predict revenue with confidence, securing your business's financial future.

Better Branding

Plan a brand that connects and endures.

Enhance your brand's presence and loyalty with a unique identity that speaks directly to your audience's needs and aspirations.

Reduced Risk

Identify potential pitfalls before they occur.

From market shifts to operational challenges, our AI tools provide you with the foresight to navigate obstacles and secure your business's continuity.

Achieve Objectives

Identify and manage short and long term objectives.

Be clear about your goals and put in place an action plan to achieve them.

Forecasting

Revenue projection, cash flow forecast, profit & loss, balance sheet.

We make it easy to create revenue projections, so you can make informed decisions based on accurate figures.

• Easy input of sales drivers and growth assumptions with user-friendly interfaces
• Create multiple what-if scenarios to understand potential outcomes.
• Generate detailed reports that can be used for investor presentations or internal strategy meetings.

Automated cash flow forecasting provides the insights needed to manage liquidity, plan for the future, and avoid potential cash shortages.

• Automatically calculates cash inflows and outflows, reducing the risk of human error.
• Generate graphical representations of cash flow data for easier interpretation and analysis.
• Categorise and track expenses automatically for comprehensive expense management.
• Match revenues with corresponding expenses for accurate profitability analysis.
• View key performance indicators such as gross margin and net profit margins.

Get a clear view of the businesses financial health by accurately representing assets, liabilities, and equity.

• Calculate key financial ratios such as debt-to-equity and current ratio for financial analysis.
• Track depreciation and amortization schedules for accurate asset valuation.
• Monitor short-term and long-term liabilities to ensure accurate reporting.
• Keep track of equity changes from retained earnings and capital injections.

Subscriptions

We offer two options, each provide full access to all features. The choice is simply a matter of how many plans you wish to create.

• Business Subscription For entrepreneurs and others looking to create a single professional business plan.
• Consultant Subscription For business plan writers and consultants who need to create multiple business plans.

Limited Time Offer

Free AI Business Plan Generator

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Small Business Trends

How to create a business plan: examples & free template.

This is the ultimate guide to creating a comprehensive and effective plan to start a business . In today’s dynamic business landscape, having a well-crafted business plan is an important first step to securing funding, attracting partners, and navigating the challenges of entrepreneurship.

This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.

Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.

Table of Contents

How to Write a Business Plan

Embarking on the journey of creating a successful business requires a solid foundation, and a well-crafted business plan is the cornerstone. Here is the process of writing a comprehensive business plan and the main parts of a winning business plan . From setting objectives to conducting market research, this guide will have everything you need.

Executive Summary

The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.

It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.

Think of it as an elevator pitch in written form: it should be compelling enough to engage potential investors or stakeholders and provide them with a clear understanding of what your business is about, its goals, and why it’s a promising investment.

Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.

Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.

Overview and Business Objectives

In the Overview and Business Objectives section, outline your business’s core goals and the strategic approaches you plan to use to achieve them. This section should set forth clear, specific objectives that are attainable and time-bound, providing a roadmap for your business’s growth and success.

It’s important to detail how these objectives align with your company’s overall mission and vision. Discuss the milestones you aim to achieve and the timeframe you’ve set for these accomplishments.

This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.

Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:

• Introducing three new products within the first two years of operation.
• Achieving annual revenue growth of 30%.
• Expanding our customer base to over 10,000 clients by the end of the third year.

Company Description

The Company Description section is your opportunity to delve into the details of your business. Provide a comprehensive overview that includes your company’s history, its mission statement, and its vision for the future.

Highlight your unique selling proposition (USP) – what makes your business stand out in the market. Explain the problems your company solves and how it benefits your customers.

Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.

Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.

Define Your Target Market

Defining Your Target Market is critical for tailoring your business strategy effectively. This section should describe your ideal customer base in detail, including demographic information (such as age, gender, income level, and location) and psychographic data (like interests, values, and lifestyle).

Elucidate on the specific needs or pain points of your target audience and how your product or service addresses these. This information will help you know your target market and develop targeted marketing strategies.

Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.

Market Analysis

The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.

This analysis will enable you to spot market opportunities and anticipate potential challenges. Include data and statistics to back up your claims, and use graphs or charts to illustrate market trends.

This section should demonstrate that you have a deep understanding of the market in which you operate and that your business is well-positioned to capitalize on its opportunities.

Example: The market for eco-friendly technology products has experienced significant growth in recent years, with an estimated annual growth rate of 10%. As consumers become increasingly aware of environmental issues, the demand for sustainable solutions continues to rise.

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

A SWOT analysis in your business plan offers a comprehensive examination of your company’s internal and external factors. By assessing Strengths, you showcase what your business does best and where your capabilities lie.

Weaknesses involve an honest introspection of areas where your business may be lacking or could improve. Opportunities can be external factors that your business could capitalize on, such as market gaps or emerging trends.

Threats include external challenges your business may face, like competition or market changes. This analysis is crucial for strategic planning, as it helps in recognizing and leveraging your strengths, addressing weaknesses, seizing opportunities, and preparing for potential threats.

Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.

• Innovative and eco-friendly product offerings.
• Strong commitment to sustainability and environmental responsibility.
• Skilled and experienced team with expertise in technology and sustainability.

Weaknesses:

• Limited brand recognition compared to established competitors.
• Reliance on third-party manufacturers for product development.

Opportunities:

• Growing consumer interest in sustainable products.
• Partnerships with environmentally-focused organizations and influencers.
• Expansion into international markets.
• Intense competition from established technology companies.
• Regulatory changes could impact the sustainable technology market.

Competitive Analysis

In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.

By conducting a thorough competitive analysis, you can gain insights into your competitors’ strengths and weaknesses, enabling you to develop strategies to differentiate your business and gain a competitive advantage in the marketplace.

Example: Key competitors include:

GreenTech: A well-known brand offering eco-friendly technology products, but with a narrower focus on energy-saving devices.

EarthSolutions: A direct competitor specializing in sustainable technology, but with a limited product range and higher prices.

By offering a diverse product portfolio, competitive pricing, and continuous innovation, we believe we can capture a significant share of the growing sustainable technology market.

Organization and Management Team

Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.

Showcasing your team’s background, skills, and accomplishments instills confidence in investors and other stakeholders, proving that your business has the leadership and talent necessary to achieve its objectives and manage growth effectively.

Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.

Products and Services Offered

Describe the products or services your business offers, focusing on their unique features and benefits. Explain how your offerings solve customer pain points and why they will choose your products or services over the competition.

This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.

Example: EcoTech offers a range of eco-friendly technology products, including energy-efficient lighting solutions, solar chargers, and smart home devices that optimize energy usage. Our products are designed to help customers reduce energy consumption, minimize waste, and contribute to a cleaner environment.

Marketing and Sales Strategy

In this section, articulate your comprehensive strategy for reaching your target market and driving sales. Detail the specific marketing channels you plan to use, such as social media, email marketing, SEO, or traditional advertising.

Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.

Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.

This section is critical to convey to investors and stakeholders that you have a well-thought-out approach to market your business effectively and drive sales growth.

Example: Our marketing strategy includes digital advertising, content marketing, social media promotion, and influencer partnerships. We will also attend trade shows and conferences to showcase our products and connect with potential clients. Our sales strategy involves both direct sales and partnerships with retail stores, as well as online sales through our website and e-commerce platforms.

Logistics and Operations Plan

The Logistics and Operations Plan is a critical component that outlines the inner workings of your business. It encompasses the management of your supply chain, detailing how you acquire raw materials and manage vendor relationships.

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

Quality control measures are essential to maintain product standards and customer satisfaction. This plan assures investors and stakeholders of your operational competency and readiness to meet business demands.

Highlighting your commitment to operational efficiency and customer satisfaction underlines your business’s capability to maintain smooth, effective operations even as it scales.

Example: EcoTech partners with reliable third-party manufacturers to produce our eco-friendly technology products. Our operations involve maintaining strong relationships with suppliers, ensuring quality control, and managing inventory.

We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.

Financial Projections Plan

In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.

Ground these projections in solid assumptions based on your market analysis, industry benchmarks, and realistic growth scenarios. Break down revenue streams and include an analysis of the cost of goods sold, operating expenses, and potential investments.

This section should also discuss your break-even analysis, cash flow projections, and any assumptions about external funding requirements.

By presenting a thorough and data-backed financial forecast, you instill confidence in potential investors and lenders, showcasing your business’s potential for profitability and financial stability.

This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.

Example: Over the next three years, we expect to see significant growth in revenue, driven by new product launches and market expansion. Our financial projections include:

• Year 1: $1.5 million in revenue, with a net profit of $200,000.
• Year 2: $3 million in revenue, with a net profit of $500,000.
• Year 3: $4.5 million in revenue, with a net profit of $1 million.

These projections are based on realistic market analysis, growth rates, and product pricing.

Income Statement

The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.

Regularly reviewing and analyzing your income statement allows you to monitor the health of your business, evaluate the effectiveness of your strategies, and make data-driven decisions to optimize profitability and growth.

Example: The income statement for EcoTech’s first year of operation is as follows:

• Revenue: $1,500,000
• Cost of Goods Sold: $800,000
• Gross Profit: $700,000
• Operating Expenses: $450,000
• Net Income: $250,000

This statement highlights our company’s profitability and overall financial health during the first year of operation.

Cash Flow Statement

A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.

By including a cash flow statement in your business plan, you demonstrate your ability to manage your company’s finances effectively.

Example:  The cash flow statement for EcoTech’s first year of operation is as follows:

Operating Activities:

• Depreciation: $10,000
• Changes in Working Capital: -$50,000
• Net Cash from Operating Activities: $210,000

Investing Activities:

•  Capital Expenditures: -$100,000
• Net Cash from Investing Activities: -$100,000

Financing Activities:

• Proceeds from Loans: $150,000
• Loan Repayments: -$50,000
• Net Cash from Financing Activities: $100,000
• Net Increase in Cash: $210,000

This statement demonstrates EcoTech’s ability to generate positive cash flow from operations, maintain sufficient liquidity, and invest in growth opportunities.

Tips on Writing a Business Plan

1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively.

2. Conduct thorough research: Before writing your business plan, gather as much information as possible about your industry, competitors, and target market. Use reliable sources and industry reports to inform your analysis and make data-driven decisions.

3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.

4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.

5. Be flexible and adaptable: A business plan is a living document that should evolve as your business grows and changes. Be prepared to update and revise your plan as you gather new information and learn from your experiences.

6. Use visuals to enhance understanding: Include charts, graphs, and other visuals to help convey complex data and ideas. Visuals can make your business plan more engaging and easier to digest, especially for those who prefer visual learning.

7. Seek feedback from trusted sources: Share your business plan with mentors, industry experts, or colleagues and ask for their feedback. Their insights can help you identify areas for improvement and strengthen your plan before presenting it to potential investors or partners.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

The template is divided into the following sections:

• Mission statement
• Business Overview
• Key products or services
• Target market
• Financial highlights
• Company goals
• Strategies to achieve goals
• Measurable, time-bound objectives
• Company History
• Mission and vision
• Unique selling proposition
• Demographics
• Psychographics
• Pain points
• Industry trends
• Customer needs
• Competitor strengths and weaknesses
• Opportunities
• Competitor products and services
• Market positioning
• Pricing strategies
• Organizational structure
• Key roles and responsibilities
• Management team backgrounds
• Product or service features
• Competitive advantages
• Marketing channels
• Advertising campaigns
• Promotional activities
• Sales strategies
• Supply chain management
• Inventory control
• Production processes
• Quality control measures
• Projected revenue
• Assumptions
• Cash inflows
• Cash outflows
• Net cash flow

What is a Business Plan?

A business plan is a strategic document that outlines an organization’s goals, objectives, and the steps required to achieve them. It serves as a roadmap as you start a business , guiding the company’s direction and growth while identifying potential obstacles and opportunities.

Typically, a business plan covers areas such as market analysis, financial projections, marketing strategies, and organizational structure. It not only helps in securing funding from investors and lenders but also provides clarity and focus to the management team.

A well-crafted business plan is a very important part of your business startup checklist because it fosters informed decision-making and long-term success.

Why You Should Write a Business Plan

Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:

• Attract Investors and Secure Funding : A well-written business plan demonstrates your venture’s potential and profitability, making it easier to attract investors and secure the necessary funding for growth and development. It provides a detailed overview of your business model, target market, financial projections, and growth strategies, instilling confidence in potential investors and lenders that your company is a worthy investment.
• Clarify Business Objectives and Strategies : Crafting a business plan forces you to think critically about your goals and the strategies you’ll employ to achieve them, providing a clear roadmap for success. This process helps you refine your vision and prioritize the most critical objectives, ensuring that your efforts are focused on achieving the desired results.
• Identify Potential Risks and Opportunities : Analyzing the market, competition, and industry trends within your business plan helps identify potential risks and uncover untapped opportunities for growth and expansion. This insight enables you to develop proactive strategies to mitigate risks and capitalize on opportunities, positioning your business for long-term success.
• Improve Decision-Making : A business plan serves as a reference point so you can make informed decisions that align with your company’s overall objectives and long-term vision. By consistently referring to your plan and adjusting it as needed, you can ensure that your business remains on track and adapts to changes in the market, industry, or internal operations.
• Foster Team Alignment and Communication : A shared business plan helps ensure that all team members are on the same page, promoting clear communication, collaboration, and a unified approach to achieving the company’s goals. By involving your team in the planning process and regularly reviewing the plan together, you can foster a sense of ownership, commitment, and accountability that drives success.

What are the Different Types of Business Plans?

In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:

• Startup Business Plan: Tailored for new ventures, a startup business plan outlines the company’s mission, objectives, target market, competition, marketing strategies, and financial projections. It helps entrepreneurs clarify their vision, secure funding from investors, and create a roadmap for their business’s future. Additionally, this plan identifies potential challenges and opportunities, which are crucial for making informed decisions and adapting to changing market conditions.
• Internal Business Plan: This type of plan is intended for internal use, focusing on strategies, milestones, deadlines, and resource allocation. It serves as a management tool for guiding the company’s growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. The internal business plan also helps identify areas of improvement, fosters collaboration among team members, and provides a reference point for measuring performance.
• Strategic Business Plan: A strategic business plan outlines long-term goals and the steps to achieve them, providing a clear roadmap for the company’s direction. It typically includes a SWOT analysis, market research, and competitive analysis. This plan allows businesses to align their resources with their objectives, anticipate changes in the market, and develop contingency plans. By focusing on the big picture, a strategic business plan fosters long-term success and stability.
• Feasibility Business Plan: This plan is designed to assess the viability of a business idea, examining factors such as market demand, competition, and financial projections. It is often used to decide whether or not to pursue a particular venture. By conducting a thorough feasibility analysis, entrepreneurs can avoid investing time and resources into an unviable business concept. This plan also helps refine the business idea, identify potential obstacles, and determine the necessary resources for success.
• Growth Business Plan: Also known as an expansion plan, a growth business plan focuses on strategies for scaling up an existing business. It includes market analysis, new product or service offerings, and financial projections to support expansion plans. This type of plan is essential for businesses looking to enter new markets, increase their customer base, or launch new products or services. By outlining clear growth strategies, the plan helps ensure that expansion efforts are well-coordinated and sustainable.
• Operational Business Plan: This type of plan outlines the company’s day-to-day operations, detailing the processes, procedures, and organizational structure. It is an essential tool for managing resources, streamlining workflows, and ensuring smooth operations. The operational business plan also helps identify inefficiencies, implement best practices, and establish a strong foundation for future growth. By providing a clear understanding of daily operations, this plan enables businesses to optimize their resources and enhance productivity.
• Lean Business Plan: A lean business plan is a simplified, agile version of a traditional plan, focusing on key elements such as value proposition, customer segments, revenue streams, and cost structure. It is perfect for startups looking for a flexible, adaptable planning approach. The lean business plan allows for rapid iteration and continuous improvement, enabling businesses to pivot and adapt to changing market conditions. This streamlined approach is particularly beneficial for businesses in fast-paced or uncertain industries.
• One-Page Business Plan: As the name suggests, a one-page business plan is a concise summary of your company’s key objectives, strategies, and milestones. It serves as a quick reference guide and is ideal for pitching to potential investors or partners. This plan helps keep teams focused on essential goals and priorities, fosters clear communication, and provides a snapshot of the company’s progress. While not as comprehensive as other plans, a one-page business plan is an effective tool for maintaining clarity and direction.
• Nonprofit Business Plan: Specifically designed for nonprofit organizations, this plan outlines the mission, goals, target audience, fundraising strategies, and budget allocation. It helps secure grants and donations while ensuring the organization stays on track with its objectives. The nonprofit business plan also helps attract volunteers, board members, and community support. By demonstrating the organization’s impact and plans for the future, this plan is essential for maintaining transparency, accountability, and long-term sustainability within the nonprofit sector.
• Franchise Business Plan: For entrepreneurs seeking to open a franchise, this type of plan focuses on the franchisor’s requirements, as well as the franchisee’s goals, strategies, and financial projections. It is crucial for securing a franchise agreement and ensuring the business’s success within the franchise system. This plan outlines the franchisee’s commitment to brand standards, marketing efforts, and operational procedures, while also addressing local market conditions and opportunities. By creating a solid franchise business plan, entrepreneurs can demonstrate their ability to effectively manage and grow their franchise, increasing the likelihood of a successful partnership with the franchisor.

Using Business Plan Software

Creating a comprehensive business plan can be intimidating, but business plan software can streamline the process and help you produce a professional document. These tools offer a number of benefits, including guided step-by-step instructions, financial projections, and industry-specific templates. Here are the top 5 business plan software options available to help you craft a great business plan.

1. LivePlan

LivePlan is a popular choice for its user-friendly interface and comprehensive features. It offers over 500 sample plans, financial forecasting tools, and the ability to track your progress against key performance indicators. With LivePlan, you can create visually appealing, professional business plans that will impress investors and stakeholders.

2. Upmetrics

Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.

Bizplan is designed to simplify the business planning process with a drag-and-drop builder and modular sections. It offers financial forecasting tools, progress tracking, and a visually appealing interface. With Bizplan, you can create a business plan that is both easy to understand and visually engaging.

Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.

5. Tarkenton GoSmallBiz

Developed by NFL Hall of Famer Fran Tarkenton, GoSmallBiz is tailored for small businesses and startups. It features a guided business plan builder, customizable templates, and financial projection tools. GoSmallBiz also offers additional resources, such as CRM tools and legal document templates, to support your business beyond the planning stage.

Business Plan FAQs

What is a good business plan.

A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.

What are the 3 main purposes of a business plan?

The three main purposes of a business plan are to guide the company’s strategy, attract investment, and evaluate performance against objectives. Here’s a closer look at each of these:

• It outlines the company’s purpose and core values to ensure that all activities align with its mission and vision.
• It provides an in-depth analysis of the market, including trends, customer needs, and competition, helping the company tailor its products and services to meet market demands.
• It defines the company’s marketing and sales strategies, guiding how the company will attract and retain customers.
• It describes the company’s organizational structure and management team, outlining roles and responsibilities to ensure effective operation and leadership.
• It sets measurable, time-bound objectives, allowing the company to plan its activities effectively and make strategic decisions to achieve these goals.
• It provides a comprehensive overview of the company and its business model, demonstrating its uniqueness and potential for success.
• It presents the company’s financial projections, showing its potential for profitability and return on investment.
• It demonstrates the company’s understanding of the market, including its target customers and competition, convincing investors that the company is capable of gaining a significant market share.
• It showcases the management team’s expertise and experience, instilling confidence in investors that the team is capable of executing the business plan successfully.
• It establishes clear, measurable objectives that serve as performance benchmarks.
• It provides a basis for regular performance reviews, allowing the company to monitor its progress and identify areas for improvement.
• It enables the company to assess the effectiveness of its strategies and make adjustments as needed to achieve its objectives.
• It helps the company identify potential risks and challenges, enabling it to develop contingency plans and manage risks effectively.
• It provides a mechanism for evaluating the company’s financial performance, including revenue, expenses, profitability, and cash flow.

Can I write a business plan by myself?

Yes, you can write a business plan by yourself, but it can be helpful to consult with mentors, colleagues, or industry experts to gather feedback and insights. There are also many creative business plan templates and business plan examples available online, including those above.

We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .

Is it possible to create a one-page business plan?

Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.

How long should a business plan be?

A typical business plan ranges from 20 to 50 pages, but the length may vary depending on the complexity and needs of the business.

What is a business plan outline?

A business plan outline is a structured framework that organizes the content of a business plan into sections, such as the executive summary, company description, market analysis, and financial projections.

What are the 5 most common business plan mistakes?

The five most common business plan mistakes include inadequate research, unrealistic financial projections, lack of focus on the unique selling proposition, poor organization and structure, and failure to update the plan as circumstances change.

What questions should be asked in a business plan?

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

A business plan focuses on the overall vision, goals, and tactics of a company, while a strategic plan outlines the specific strategies, action steps, and performance measures necessary to achieve the company’s objectives.

How is business planning for a nonprofit different?

Nonprofit business planning focuses on the organization’s mission, social impact, and resource management, rather than profit generation. The financial section typically includes funding sources, expenses, and projected budgets for programs and operations.

Image: Envato Elements

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The best AI image generators to try right now

If you've ever searched Google high and low to find an image you needed to no avail, artificial intelligence (AI) may be able to help. 

With AI image generators, you can type in a prompt as detailed or vague as you'd like to fit an array of purposes and have the image you were thinking of instantly pop up on your screen. These tools can help with branding, social media content creation, and making invitations, flyers, business cards, and more.

Also: ChatGPT no longer requires a login, but you might want one anyway. Here's why

Even if you have no professional use for AI, don't worry -- the process is so fun that anyone can (and should) try it out.

OpenAI's DALL-E 2 made a huge splash because of its advanced capabilities as the first mainstream AI image generator. However, since its initial launch, there have been many developments. Other companies have released models that rival DALL-E 2, and OpenAI even released a more advanced model known as DALL-E 3 , discontinuing its predecessor. 

To help you discover which models are the best for different tasks, I put the image generators to the test by giving each tool the same prompt: "Two Yorkies sitting on a beach that is covered in snow". I also included screenshots to help you decide which is best. 

Also: DALL-E adds new ways to edit and create AI-generated images. Learn how to use it

While I found the best overall AI image generator is Image Creator from Microsoft Designer , due to its free-of-charge, high-quality results, other AI image generators perform better for specific needs. For the full roundup of the best AI image generators, keep reading. 

The best AI image generators of 2024

Image creator from microsoft designer (formerly bing image creator), best ai image generator overall.

• Powered by DALL-E 3
• Convenient to access
• Need a Microsoft account
• In preview stage

Image Creator from Microsoft Designer is powered by DALL-E 3, OpenAI's most advanced image-generating model. As a result, it produces the same quality results as DALL-E while remaining free to use as opposed to the $20 per month fee to use DALL-E. 

All you need to do to access the image generator is visit the Image Creator website and sign in with a Microsoft account. 

Another major perk about this AI generator is that you can also access it in the same place where you can access Microsoft's AI chatbot, Copilot (formerly Bing Chat) . 

This capability means that in addition to visiting Image Creator on its standalone site, you can ask it to generate images for you in Copilot. To render an image, all you have to do is conversationally ask Copilot to draw you any image you'd like. 

Also:   How to use Image Creator from Microsoft Designer (formerly Bing Image Creator)

This feature is so convenient because you can satisfy all your image-generating and AI-chatting needs in the same place for free. This combination facilitates tasks that could benefit from image and text generation, such as party planning, as you can ask the chatbot to generate themes for your party and then ask it to create images that follow the theme.

Image Creator from Microsoft Designer f eatures:  Powered by:  DALL-E 3 |  Access via:  Copilot, browser, mobile |  Output:  4 images per prompt |  P rice:  Free 

DALL-E 3 by OpenAI

Best ai image generator if you want to experience the inspiration.

• Not copyrighted
• Accurate depictions
• Confusing credits

OpenAI, the AI research company behind ChatGPT, launched DALL-E 2 in November 2022. The tool quickly became the most popular AI image generator on the market. However, after launching its most advanced image generator, DALL-E 3, OpenAI discontinued DALL-E 2. 

DALL-E 3 is even more capable than the original model, but this ability comes at a cost. To access DALL-E 3 you must be a ChatGPT Plus subscriber, and the membership costs $20 per month per user. You can access DALL-E 3 via ChatGPT or the ChatGPT app.

Using DALL-E 3 is very intuitive. Type in whatever prompt you'd like, specifying as much detail as necessary to bring your vision to life, and then DALL-E 3 will generate four images from your prompt. As you can see in the image at the top of the article, the renditions are high quality and very realistic.

OpenAI even recently added new ways to edit an image generated by the chatbot, including easy conversational text prompts and the ability to click on parts of the image you want to edit. 

Like with Copilot, you can chat and render your images on the same platform, making it convenient to work on projects that depend on image and text generation. If you don't want to shell out the money,  Image Creator by Designer  is a great alternative since it's free, uses DALL-E 3, and can be accessed via Copilot.

DALL-E 3 features: Powered by:  DALL-E 3 by OpenAI |  Access via:  ChatGPT website and app |  Output:  4 images per credit |  Price:  ChatGPT Plus subscription, $20 per month

ImageFX by Google

The best ai image generator for beginners.

• Easy-to-use
• High-quality results
• Expressive chips
• Need a Google account
• Strict guardrails can be limiting

Google's ImageFX was a dark horse, entering the AI image generator space much later than its competition, over a year after DALL-E 2 launched. However, the generator's performance seems to have been worth the wait. The image generator can produce high-quality, realistic outputs, even objects that are difficult to render, such as hands. 

Also: I just tried Google's ImageFX AI image generator, and I'm shocked at how good it is

The tool boasts a unique feature, expressive chips, that make it easier to refine your prompts or generate new ones via dropdowns, which highlight parts of your prompt and suggest different word changes to modify your output.

ImageFX also includes suggestions for the style you'd like your image rendered in, such as photorealistic, 35mm film, minimal, sketch, handmade, and more. This combination of features makes ImageFX the perfect for beginners who want to experiment. 

ImageFX from Google: Powered by:  Imagen 2  | Access via:  Website |  Output:  4 images |  Price:  free 

DreamStudio by Stability AI

Best ai image generator for customization.

• Accepts specific instruction
• Open source
• More entries for customization
• Paid credits
• Need to create an account

Stability AI created the massively popular, open-sourced, text-to-image generator, Stable Diffusion. Users can download the tool and use it at no cost. However, using this tool typically requires technical skill. 

Also :  How to use Stable Diffusion AI to create amazing images

To make the technology readily accessible to everyone (regardless of skill level), Stability AI created DreamStudio, which incorporates Stable Diffusion in a UI that is easy to understand and use. 

One of the standouts of the platform is that it includes many different entries for customization, including a "negative prompt" where you can delineate the specifics of what you'd like to avoid in the final image. You can also easily change the image ratio -- that's a key feature, as most AI image generators automatically deliver 1:1. 

DreamStudio features: Powered by:  SDXL 1.0 by Stability AI  | Access via:  Website |  Output:  1 image per 2 credits |  Price:  $1 per 100 credits |  Credits:  25 free credits when you open an account; buy purchase once you run out

Dream by WOMBO

Best ai image generator for your phone.

• Remix your own images
• Multiple templates
• One image per prompt
• Subscription cost for full access

This app took the first-place spot for the best overall app in Google Play's 2022 awards , and it has five stars on Apple's App Store with 141.6K ratings. With the app, you can create art and images with the simple input of a quick prompt. 

An added plus is this AI image generator allows you to pick different design styles such as realistic, expressionist, comic, abstract, fanatical, ink, and more. 

Also :  How to use Dream by WOMBO to generate artwork in any style

In addition to the app, the tool has a free desktop mobile version that is simple to use. If you want to take your use of the app to the next level, you can pay $90 per year or $10 per month.

Dream by WOMBO f eatures: Powered by:  WOMBO AI's machine-learning algorithm |  Access via:  Mobile and desktop versions |  Output:  1 image with a free version, 4 with a paid plan |  Price:  Free limited access

Best no-frills AI image generator

• Unlimited access
• Simple to use
• Longer wait
• Inconsistent images

Despite originally being named DALL-E mini, this AI image generator is NOT affiliated with OpenAI or DALL-E 2. Rather, it is an open-source alternative. However, the name DALL-E 2 mini is somewhat fitting as the tool does everything DALL-E 2 does, just with less precise renditions. 

Also :  How to use Craiyon AI (formerly known as DALL-E mini)

Unlike DALL-E 2, the outputs from Craiyon lack quality and take longer to render (approximately a minute). However, because you have unlimited prompts, you can continue to tweak the prompt until you get your exact vision. The site is also simple to use, making it perfect for someone wanting to experiment with AI image generators. It also generates six images, more than any other chatbot listed. 

Craiyon f eatures: Powered by:  Their model |  Access via :  Craiyon website  |  Output:  6 images per prompt |  Price:  Free, unlimited prompts 

Best AI image generator for highest quality photos

• Very high-quality outputs
• Discord community
• Monthly cost
• Confusing to set up

I often play around with AI image generators because they make it fun and easy to create digital artwork. Despite all my experiences with different AI generators, nothing could have prepared me for Midjourney -- in the best way. 

The output of the image was so crystal clear that I had a hard time believing it wasn't an actual picture that someone took of my prompt. This software is so good that it has produced award-winning art .

However, I think Midjourney isn't user-friendly and it confuses me. If you also need extra direction, check out our step-by-step how-to here: How to use Midjourney to generate amazing images and art .

Another problem with the tool is that you may not access it for free. When I tried to render images, I got this error message: "Due to extreme demand, we can't provide a free trial right now. Please subscribe to create images with Midjourney."

To show you the quality of renditions, I've included a close-up below from a previous time I tested the generator. The prompt was: "A baby Yorkie sitting on a comfy couch in front of the NYC skyline." 

Midjourney f eatures: Powered by:  Midjourney; utilizes Discord |  Access via:  Discord |  Output:  4 images per prompt |  Price:  Starts at $10/month

Adobe Firefly

Best ai image generator if you have a reference photo.

• Structure and Style Reference
• Commercial-safe
• Longer lag than other generators
• More specific prompts required

Adobe has been a leader in developing creative tools for creative and working professionals for decades. As a result, it's no surprise that its image generator is impressive. Accessing the generator is easy. Just visit the website and type the prompt of the image you'd like generated. 

Also: This new AI tool from Adobe makes generating the images you need even simpler

As you can see above, the images rendered of the Yorkies are high-quality, realistic, and detailed. Additionally, the biggest standout features of this chatbot are its Structure Reference and Style Reference features. 

Structure Reference lets users input an image they want the AI model to use as a template. The model then uses this structure to create a new image with the same layout and composition. Style Reference uses an image as a reference to generate a new image in the same style. 

These features are useful if you have an image you'd like the new, generated image to resemble, for example, a quick sketch you drew or even a business logo or style you'd like to keep consistent. 

Another perk is that Adobe Firefly was trained on Adobe Stock images, openly licensed content, and public domain content, making all the images generated safe for commercial use and addressing the ethics issue of image generators. 

Adobe Firefly f eatures:  Powered by:  Firefly Image 2 |  Access via:  Website |  Output:  4 images per prompt |  P rice:  Free 

Generative AI by Getty Images

Best ai image generator for businesses.

• Commercially safe
• Contributor compensation program
• Personalized stock photos
• Not clear about pricing
• Not individual-friendly

One of the biggest issues with AI image generators is that they typically train their generators on content from the entirety of the internet, which means the generators use aspects of creators' art without compensation. This approach also puts businesses that use generators at risk of copyright infringement. 

Generative AI by Getty Images tackles that issue by generating images with content solely from Getty Images' vast creative library with full indemnification for commercial use. The generated images will have Getty Images' standard royalty-free license, assuring customers that their content is fair to use without fearing legal repercussions.

Another pro is that contributors whose content was used to train the models will be compensated for their inclusion in the training set. This is a great solution for businesses that want stock photos that match their creative vision but do not want to deal with copyright-related issues. 

ZDNET's Tiernan Ray went hands-on with the AI image generator. Although the tool did not generate the most vivid images, especially compared to DALL-E, it did create accurate, reliable, and useable stock images. 

Generative AI by Getty Images f eatures:  Powered by:  NVIDIA Picasso |  Access via:  Website |  Output:  4 images per prompt |  P rice:  Paid (price undisclosed, have to contact the team)

What is the best AI image generator?

Image Creator from Microsoft Designer is the best overall AI image generator. Like DALL-E 3, Image Creator from Microsoft Designer combines accuracy, speed, and cost-effectiveness, and can generate high-quality images in seconds. However, unlike DALL-E 3, this Microsoft version is entirely free.

Whether you want to generate images of animals, objects, or even abstract concepts, Image Creator from Microsoft Designer can produce accurate depictions that meet your expectations. It is highly efficient, user-friendly, and cost-effective.

Note: Prices and features are subject to change.

Which is the right AI image generator for you?

Although I crowned Image Creator from Microsoft Designer the best AI image generator overall, other AI image generators perform better for specific needs. For example, suppose you are a professional using AI image generation for your business. In that case, you may need a tool like Generative AI by Getty Images which renders images safe for commercial use. 

On the other hand, if you want to play with AI art generating for entertainment purposes, Craiyon might be the best option because it's free, unlimited, and easy to use. 

How did I choose these AI image generators?

To find the best AI image generators, I tested each generator listed and compared their performance. The factors that went into testing performance included UI/UX, image results, cost, speed, and availability. Each AI image generator had different strengths and weaknesses, making each one the ideal fit for individuals as listed next to my picks. 

What is an AI image generator?

An AI image generator is software that uses AI to create images from user text inputs, usually within seconds. The images vary in style depending on the capabilities of the software, but can typically render an image in any style you want, including 3D, 2D, cinematic, modern, Renaissance, and more. 

How do AI image generators work?

Like any other AI model, AI image generators work on learned data they are trained with. Typically, these models are trained on billions of images, which they analyze for characteristics. These insights are then used by the models to create new images.

Are there ethical implications with AI image generators?

AI image generators are trained on billions of images found throughout the internet. These images are often artworks that belong to specific artists, which are then reimagined and repurposed by AI to generate your image. Although the output is not the same image, the new image has elements of the artist's original work not credited to them. 

Are there DALL-E 3 alternatives worth considering?

Contrary to what you might think, there are many AI image generators other than DALL-E 3. Some tools produce even better results than OpenAI's software. If you want to try something different, check out one of our alternatives above or the three additional options below. 

Nightcafe is a multi-purpose AI image generator. The tool is worth trying because it allows users to create unique and original artwork using different inputs and styles, including abstract, impressionism, expressionism, and more.

Canva is a versatile and powerful AI image generator that offers a wide range of options within its design platform. It allows users to create professional-looking designs for different marketing channels, including social media posts, ads, flyers, brochures, and more. 

Artificial Intelligence

The best ai chatbots: chatgpt isn't the only one worth trying, google and mit launch a free generative ai course for teachers, dall-e adds new ways to edit and create ai-generated images. learn how to use it.

Free Invoice Templates to Help You Get Paid Faster

Angelique O'Rourke

5 min. read

Updated April 10, 2024

Whether you’re a freelancer or running your own small business or startup, you’ve got to get paid—preferably on time.

A surprising number of businesses that are bringing in good revenue struggle to keep their business afloat because they struggle with cash flow—having the cash in hand to cover expenses.

It’s an accounts receivable problem. Many times, this struggle isn’t because they haven’t done enough business, it’s because they just haven’t been paid yet for products or services already delivered.

That’s where a simple, professional looking invoice can make a big difference. You want your invoice to make it easy for your customers to understand what you’re billing for, how much they owe, and when payment is due. Invoicing can take some time, but there are some ways you can make it quicker and simpler.

Start with a quality, free invoice template—there are a number of different invoice types. Here are a few we recommend.

• 1. An Excel invoice template (and a good Google Sheets option)

If you’d prefer an Excel template,  this option from Vertex 42  is tried and true. It’s a fast, small download and a straightforward template with two style options.

Personally, I think the online templates are just as good as a download like this and, given the number of options now available online, it isn’t really necessary to use Excel. However, if you’re a die-hard Excel user, this is a good one to try.

A  Google Sheets template  can also be a good option if you don’t have Excel but like the Google doc, spreadsheet-based approach.

• 2. QuickBooks web-based invoice generator

This is one of the most customizable  free professional invoice templates  we’ve seen online. You can use this tool right away, without needing a credit card or a login. Create as many invoices as you need (there’s no limit), and print or download them as PDF files.

You can add your logo if you like, and there’s a choice of three customizable design layouts. You can also choose from a range of fonts, font sizes, and colors.

You can print or enter your email address to download, and you’ll also have the option to also have some free accounting resource guides sent to you.

3. Paydirt’s PayPal compatible invoice template

In addition to their pay-to-use invoice and time-tracking app,  Paydirt offers a free invoice template . One of the things that makes this template unique is that you can connect it to your PayPal account, giving your clients an easier, more immediate way to pay you.

The template itself isn’t anything special, but if connecting your invoice directly to a PayPal account is a top priority, this is the way to go. They also have a great blog with tons of tips for freelancers, so you should at least check this site out.

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4. Xero’s fillable PDF template

Xero offers a downloadable fillable PDF template that you can save and reuse. It’s not fancy, but it’s clean and efficient, and you can save the template itself to your computer, which is convenient.

If you’re emailing invoices to your clients, it’s never a bad idea to send them in PDF form, so they can’t be edited. Sending Word docs or even Google docs with opening editing access can just make things more complicated if the client (even unintentionally) edits the invoice and then gets confused about what they owe and when.

5. Freshbooks’ web-based invoice template

This  invoice template  is definitely no-frills. If simple is your thing, it’s a good one to test drive. It does allow you to customize various aspects of the template, though, including the option to upload a business logo.

Because it’s a web-based invoice generator, you won’t be able to save your changes, so it’s probably most useful if you’re not generating invoices very often—retyping your own business information will get old.

• Should you use a paid invoice tool?

If you’re freelancing or in the early days of your small business or startup, you can probably get by with using free templates for a while, sending your invoices as email attachments, or even handing them to your customers in person. At some point, as your customers increase and managing your cash flow gets a little more complicated, you’ll probably start thinking about using an accounting tool like  QuickBooks  or Xero.

You might start using a service like Paypal to receive payments online. Those services all offer integrated online invoicing tools, which can save you time and effort, and many include an online “pay now” option, which can reduce the amount of time you wait to get paid.

• Tips for getting the most out of your invoice templates

Every invoice should include these line items:

• Your name (and your business name)
• Your business address and contact information
• Your customer’s name and address
• Description of items or services purchased, including prices and inventory numbers,
• Terms of payment (when payment is due)
• What types of payment you accept

Keep your invoices simple and clean, and remember, they’re essentially marketing material. They don’t have to be professionally designed, but don’t clutter them up with jargon that your customer won’t understand about your service or product, or use hard to read fonts or colors when you customize your invoice.

Make sure there’s no doubt that they understand what you’re billing for and a due date for when you expect cash in hand. And don’t wait too long to send it to your customer—you want your product or service to be fresh in their mind when their bill arrives.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Angelique is a skilled writer, editor, and social media specialist, as well as an actor and model with a demonstrated history of theater, film, commercial and print work.

Table of Contents

• 3. Paydirt’s PayPal compatible invoice template
• 4. Xero’s fillable PDF template
• 5. Freshbooks’ web-based invoice template

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World Leaders in Research-Based User Experience

Planning research with generative ai.

April 5, 2024 2024-04-05

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AI chatbots (like ChatGPT, Google’s Gemini, and Microsoft Copilot) can support UX researchers of all experience levels in planning their research.

In This Article:

What is a research plan, using ai chatbots to write a research plan.

Good research always starts with a plan.

A research plan is a document that outlines the research objectives and how the research will be executed.

Research plans should include:

• The research goals or questions that the research is hoping to achieve or answer
• The method to be used and a description of how it will be carried out
• The tasks or questions that will be given to study participants
• The profile of the target participants
• The screener questionnaire used to recruit participants

Creating a research plan can be time-consuming. Even with a good template, a researcher must generate research questions, select the appropriate method(s), decide how to run sessions, and often create study collateral (like screeners and tasks) from scratch. The good news is that AI can help with many, if not all, of these tasks!

It can be tempting to just ask an AI tool to give you a research plan for a project. Don’t do that.

❌ Bad Prompt : Generate a research plan for a usability test of a food-delivery app.

This kind of request results in a generic, template-like response, partly because AI lacks the context to propose a complete research plan and partly because of how the model has been trained.

To construct a useful research plan, deconstruct the plan into parts and have the AI chatbot tackle each part individually. You can assemble responses in a final research plan.

Don’t expect the AI to ask you the right questions in order to get a comprehensive outcome. View the AI tool as a UX assistant , not as a UX mentor. You need to feed into the AI all the steps and details you want it to consider.

Follow the steps below for the best results.

Step 1: Provide Context

Imagine asking an experienced colleague for recommendations on what research study to run without giving them any context on what project you’re working on and what you’re trying to achieve. They would probably say, "It depends on what you’re trying to learn.” Conversing with AI presents no exception.

Start your conversation with enough context , especially if the AI tool does not already have this information stored about you or your current project. ( ChatGPT 4 allows users to store context for each new conversation.)

The contextual information you share should include who you work for, the scope of your project, and what you’re looking to achieve. Remember that some AI tools may use your conversations to train their models, so share only information you would be comfortable with being in the open domain.

 Prompt Template: I work for [type or organization] . My company provides [what kind of product, service, or experience] . I need to run a user-research study to learn [something about users or a problem] .

Step 2: Generate Research Questions

After providing the AI tool with context, ask it to suggest specific research questions for the study. Here’s an example from a recent study on research repositories that I conducted for NN/g.

Prompt Example: I will run a research study and report on how UX practitioners across different organizations set up and use research repositories. Please generate 10 research questions that would be suitable for this sort of study.

It’s a good idea to ask generative AI tools for more options or ideas than you think you’ll need, because some will not be a good fit.

Microsoft Copilot responded to the prompt above with the 10 research questions below.

10 Research questions generated by Microsoft Copilot

Who are the primary users of the research repository within different organizations? What motivates users to engage with the research repository? How do different teams (design, product, sales, marketing) access and benefit from the research repository? What challenges do practitioners face when contributing to or retrieving information from the repository? What types of research artifacts (reports, raw data, templates) are most commonly stored in the repository? How do organizations structure their research repositories? What tools and templates are commonly used to facilitate research repository management? How do practitioners ensure the quality and accuracy of information in the repository? What impact does the research repository have on decision-making and project outcomes? What strategies can organizations implement to encourage widespread adoption and active participation in the research repository?

To broaden your pool of research questions, ask for further research questions or provide the same prompt in a new session. Repeat this process as many times as you need to generate a list that feels exhaustive of what you’d like to learn.

Some of the research questions Copilot generated for me were appropriate, and others were not. As a result, I had AI generate more research questions to choose from.

Unfortunately, most AI chatbots don’t offer an easy way to dismiss suggestions or combine specific responses and work from only these (a behavior called apple-picking ).

Pulling in generated research questions into an offline document (like a FigJam or Google Doc) allows you to easily group items, remove duplicates, or reword suggested research questions.

Begin a new chat session with your selected and refined set of research questions, so that the unwanted research questions are removed from the chat history.

Step 3: Request Methods

After sharing the context and your chosen research questions, ask the AI tool to identify suitable research methods.

Example Prompt : What study would you suggest to answer these research questions? Please be specific; cite which research questions would be answered by which research method if you suggest multiple methods.

Generative-AI advice is not always good advice. Often, these tools will suggest various methods and suggest you triangulate data from multiple sources. This approach is not always needed. Also, not all methods will be practical or the best fit for your study. Additionally, AI may suggest interviews and focus groups even for research questions better suited to a behavioral research method .

Ask AI chatbots to tell you which research methods would be suited to which research question and why. We also recommend doing some further reading on your own about any methods that are unfamiliar to you.

In response to the prompt above (and given my chosen research questions), ChatGPT recommended a survey, interviews with select UX practitioners, and case studies. These were all my chosen methods, so AI had done well here!

Step 4: Request Inclusion Criteria

AI can create inclusion criteria — a necessary component of your research plan. Do this step only after generating research questions and methods since these will inform who should participate in the research study.

Inclusion criteria (or recruitment criteria) are specific characteristics of the target population that need to be represented in your sample.

Start with inclusion criteria before asking the AI to help you write a screening questionnaire ; AI can only craft an appropriate screener after it “knows” who you’re looking to recruit.

Example Prompt: So that I recruit the right people for my interviews, help me create some inclusion criteria. What characteristics or behaviors should I recruit for?

Step 5: Request Help with Screeners, Interview Questions, and Tasks

Finally, ask the AI to put together:

• Interview questions or an interview guide (if conducting interviews)
• Tasks for a usability test
• Diary-study prompts (if relevant)
• Recruitment confirmation emails or other communication messages.

Unfortunately, there are a lot of bad examples of the above on the web. Conversational AI has been trained on all this data. Therefore, don’t be surprised if it produces poor study collateral on its first attempt! This is a major risk area for new researchers.

One way to mitigate this danger is to give the AI tool advice when crafting any of these outputs . Think of AI as a new research assistant who can learn extremely quickly.

Common mistakes that AI tools make include:

• Using words that appear in the interface in task instructions (priming)
• Creating task instructions that ask users to imagine they are someone that they are not
• Not including a goal or a call to action in the task instruction
• Not including distractor options in screening questionnaires
• Using overenthusiastic marketing language in recruitment materials

It’s not surprising that AI makes these mistakes since UX practitioners also make them!

To improve outputs, feed the AI essential tips, such as:

• When crafting tasks: Do not use the name of words or link labels in the task instruction. Find a natural-language equivalent to explain what the participant should do . (You can ask AI to “read” a website or an image.)
• When crafting recruitment materials: Use neutral and concise language in the recruitment email. Avoid using overly enthusiastic marketing language.
• When crafting a screener: Include multiple-choice questions and answer options that might disguise what the study is about and who I am looking to recruit.

Additionally, when possible, feed the AI with good examples of screener questionnaires, tasks, or interview questions, so it can follow their format or style.

Even with this advice, AI can still make mistakes. If you’re doubting its answers, check primary sources or speak with an experienced researcher for old-fashioned human guidance.

If you have ChatGPT’s Plus Plan, you can use our GPT for planning your research.

With the proper context, examples, and advice, AI tools, like ChatGPT and Microsoft Copilot, can craft helpful research questions, tasks, interview questions, and other study collateral far more quickly than you could if you started from scratch.

Research leads and ResearchOps personnel can support junior researchers and PWDRs (People Who Do Research) by providing examples and advice that can be fed to AI agents. Experienced researchers can benefit from using AI to speed up their research-planning process and obtain further inspiration.

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