As if there was any doubt, the latest news about the Australian government releasing apps for the Android market which are designed to help people to improve their business plans confirms that enterprises cannot ignore the growing popularity of Smartphone tools in a business environment.
Based on business.gov.au planning templates and guides, the tablet apps have guided businesses through their plans and have been downloaded more than 22,000 times since it was launched on the iPad in September 2012.
They are certainly worth exploring as they were created with the help of business experts. But could you use Smartphone applications as the sole resource for your business planning?
When you get down to it, apps are just like specialist websites for mobile phones. Therefore it is questionable whether you would rely on a website for advice without speaking to a human being. For example, the US Bureau of Labor Statistics revealed a while ago that close to 90% of new establishments fail in only their first two years. Australian start-ups don’t necessarily go down that quickly, but there’s no harm in keeping in touch with a consultant to direct and advise you.
If you are the owner of a successful business, then you have to be prepared and have ready a detailed business plan. You can’t expect your company to improve on its projections over a five year period simply by adhering to the Laws of Supply and Demand as described in your textbook as you will have to be flexible and have the ability to manoeuvre around the changes in the market prices and expect to achieve an economic equilibrium later. As a highly experienced management team can tell you, there’s no such thing as ‘perfect competition’ as market variables are always tricky to deal with and there could even be cases where a business has to produce and sell products or services at below-market prices in order to stay afloat in the foreseeable future.
But should you at least try the apps out? Well some might benefit you as they do have very interesting features. MyBizPlan gives you template plans to work from, so you don’t have to start with a blank sheet of paper, but it also allows you to remove irrelevant details, so you can still tailor your plan to your specific business needs.
When creating a bank business plan, you will need to look at your current deposits and the revenue coming in so you can adequately estimate your costs. The template tells you to write down your key objectives and financial review, as well as a section called ‘Financial statements’, which includes a balance sheet. With this template for a bank business plan, you will have something which you can show to your investors to gain their trust so that you can map out the businesses future without fearing that you will lose the important capital that they provide you with.
MarketMyBiz is also a good marketing planning app, which can help you identify your target market, while the emergency planning and recovery app MyBizShield helps you prepare for emergencies. Both are very useful if you haven’t had extensive training in either marketing or emergency management.
Apps may be growing in popularity for business, but there is no doubt that they will always be more successful with public consumers. However, you might fancy developing your own app. Maybe you’re an experienced business owner who doesn’t need help from these Smartphone tools, but you want to get involved with social media as a way of attracting and maintaining more customers. If so, get in touch with a digital media expert who can plan online campaigns, design logos and develop apps for mobile platforms.
If you’re wondering what makes a good app for consumers, just think your least favourite apps and choose to avoid their pitfalls. In other words, have an app which has no pop-ups, a fast loading time and a slick and simple layout that doesn’t duplicate the look of your website too much.
Bill Jobs is a writer who has a keen interest in business. He believes that apps which are designed to help company owners to create Bank business Plans help to improve and simplify aspects of a business for those who need advice and help creating important documentation.