When it comes to writing a business plan, there's no shortage of online tools and tutorials to help entrepreneurs turn their ideas into a realistic goal. but how many of those tools automatically generate the text of your business plan and then use a predictive algorithm to score the likelihood of the business's success? Well, at least one.
Enloop is a site that just went into public beta this week and promises to do all of the above. After you sign up for an account, which is free during the beta period, Enloop will ask a series of questions about your business idea, its intended industry, products, marketing, operations, personnel and finances.
Based on that information, the service gives your business plan an EPS score, or Enloop Performance Score. This number, ranging from 1 to 1,000, is a measure of how likely your business is to succeed, according to their predictive algorithm.
"A higher score also indicates you might receive better loan or investment terms if you're seeking funding," reads the company's Website. "The EPS score is designed with safeguards to prevent unrealistic financial forecasts."
Just because you have a world-changing idea for a business doesn't mean you're any good at stringing words together. Enloop takes care of that for you too, generating the text of your business plan as you go. The text it generates is customizable and can be appended with additional paragraphs of information.
Enloop also provides automated financial forecasts, including profit and loss, cash flow and balance sheets. In this way, it's somewhat similar to InDinero, but the two products ultimately do two different things, so they may prove to be good complements to one another. Enloop also generates financial ratios so you can easily ascertain the financial health of the business and pass that information along to investors and lenders.
Do you have a business idea you've been meaning to write up a plan for? Sign up and give Enloop a try for free.