The primary focus of EquityNet is right there in the name: a network for getting and providing equity. This is an investor site that also has a business planning tools as part of its overall feature set. The service begins at $199 per month, and certainly helps you create your business plan, but only as part of the process for getting your venture funding rather than being all about ongoing planning or writing the official document. Think of EquityNet as crowdfunding, with a good documentation process since the company boasts qualified investors willing to help businesses raise anywhere from $10,000 to $10 million. You can use just the business plan features, of course—that's where I put my attention—but, if you're also looking for an infusion of cash and aren't sure where to turn, EquityNet deserves more of your attention. The free version lets you enter a business and funding profile, create a guided business plan, and view investor profiles. While it's not as in-depth as Palo Alto Software LivePlan and Tarkenton GoSmallBiz, the Editors' Choices in this business plan software review roundup, its free version might be all you need. The analysis tools and crowdfunding require a monthly subscription of $199 per month, which would turn out to be a pittance if it helps you discover the right investor. EquityNet's Section Breakdown EquityNet organizes the business plan creation process in 10 input sections. If you indicate that something doesn't apply to your business, the software doesn't nag you with more questions about that topic. For example, if you don't have intellectual property concerns (few Horror Film conferences have patents, for instance), you aren't prompted to fill in that section. No matter how expert a writer you are—and most entrepreneurs are more confident of their business acumen than their wordsmithing skills—at some point you'll find yourself staring at the screen, wondering what to write. EquityNet's help text is good, with inline hints and notes to explain, say, what corporate milestones are commonly included. But the help text isn't particularly inspiring in the sense of suggesting what the investor expects to find in a section about, for instance, the assumptions underlying the company's financial projections ("We have the strength of 10 because our hearts are pure" probably won't cut it.) Expect to consult outside references to help you construct your messaging. Some sections control how much text you can write or paste in (for example, the "general description of the company and its mission" limits you to 2,000 characters). For most businesses, that may be a good idea (brevity is valuable) but others may require more than, say, 600 characters to discuss the drivers of market adoption. This feels like an arbitrary limitation. The financial section is relatively high-level, with categories such as "general and administrative" and "research and development." That's what most investors want to see but, if you have reason to drill down or customize categories, you may find this scheme somewhat limiting. For those just starting out, however, the section will serve you well and EquityNet also has several calculators on its site capable of figuring out important data points, like your organization's profit margin, cash flow, startup risk, and overal valuation. Fortunately, the software does much better in its section on products and services. You're prompted to create specific categories that make sense for your business. For a restaurant, that might be bar/liquor sales, dinner service, and catering while a quilt shop could separate income categories into fabric sales and classroom training. For each, you describe the business category, distribution channels, customers, and so on. EquityNet later uses these to compare your business to other businesses in its sector. This ability to compare your business to its peer groups or industries is also included in Palo Alto Software LivePlan but it is a feature that is missing in Enloop, StratPad, and The Business Plan Shop. An Elegant Finished Product EquityNet impressed me in regard to treating the business plan as a work-in-progress, with status bars indicating completeness and alerts to show you sections to revisit (such as a warning that Sales & Marketing Operating Expense is zero for all five projected years). Even with only bits of the data in-hand, you can get an idea of how your narrative is taking shape. I still got tripped up, however, when I realized I had no idea what to plug into a given field ("Gee, what should I say about the market drivers?! I'll come back to it later") and the software insisted I fill it in as a required field. I wish there were a way to indicate, "Yeah, I know, mark this as incomplete because it's dinnertime and I want to save my work." All those quibbles fade into minor annoyances, though, when you look at the documents created by EquityNet. The business plan it generates is attractive enough to make even the most modest start-up look good. In addition to presenting the information you entered in an organized fashion, the document uses graphs, charts, and other visuals, such as a probability of enterprise survival when compared to its peer group, or a valuation bar chart. You can export the plan as a PDF file or a Word file, which gives you more opportunity for customization. EquityNet isn't for every entrepreneur. It's best for those seeking funding from outside—those crowdfunding resources are appealing—but the free version may appeal to business owners who want to keep the text high-level while generating impressive charts and graphs. Bottom Line: EquityNet doesn't focus exclusively on business plan creation. Instead, it's really a platform for those seeking investors as well as those looking to invest. Still, its bundled business planning tool is solid and can help speed startups toward getting funded.

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