5Min Business Plan App for iPhone Review
If you’re an entrepreneur looking to secure a bank loan for your start up, one of the mandatory prerequisites is to have a proper business plan. However, not many have the skill, patience or knowledge to prepare one. Here is an app – 5Min Business Plan app for iPhone – that’ll help you create a personalized business plan in as less as five minutes. How effective that’ll be? Well, let’s find out.
5Min Business Plan App Features
5Min Business Plan app for iPhone let you build a business plan in your iPhone with minimal amount of typing. It is an interesting idea in fact. You fill out few questions and the app generates and emails you the business plan. You’ll be asked questions like what you company does (whether it is product, services or both), your no.1 objective for the company going forward (such as launch a product, grow customer base etc), and how long you have been in business. You also got to fill out some questions that require essay type answering. For example, questions like “Detail a key task you will undertake in the next six months to help [XYZ Company] achieve your key strategic objective” that you got to answer in detail.
It would have been nice if one could get a live preview of the document as you were working. Such an option could have made it easy to tidy up the word choice and make the document look polished on the fly.
Of course, the ‘5Min’ in the title is a misnomer. Most of the times, you’ll take more than five minutes to prepare the business plan. But it is a lot easier; there are lots of explanations and useful tips along the way to make the process quite a pleasant one. Once you’re done with the business plan, you can opt to publish it in the web within 48 hours. If you opt for the $6.95 ‘stealth option’, you’ll receive the business plan by email within 30 minutes of finishing it.
Conclusion
5Min Business Plan app for iPhone got a wonderful idea. But who might need such a utility is a question worth pondering. Usually, business plans are quite elaborative and it’ll take days to complete one. On that context, creating one in five minutes does not make any real sense at all. At best, it can be used to teach high school students the basic nuance of a business plan. Verdict: Check it out if you’re just curious.
Category: Free iPhone Apps
