By Mike Hogan

You have a great idea that will make millions--but lenders and investors won't buy into it unless you present a good business plan. If you don't have the money to hire a consultant or the time to start from scratch, a business planning program can help.

Every business plan requires certain standard information, such as an exhaustive narrative of your track record, the strategy for your new venture or expansion, and current financial statements and projections. A business planning program assists with gathering data and formatting it for professional results.

Our Best Buy is Jian's thorough yet simple BizPlan Builder Interactive. Also reviewed: American Institute for Financial Research's Small Business Plan 5.22, Business Resources Software's Plan Write 4.0 and Expert Edition, and Palo Alto Software's Business Plan Pro.

BizPlan Builder
PRO: Template is easy to follow and has plenty of room for quick customization
CON: Could use a few more templates
PRICE: $99

Jian's BizPlan Builder Interactive is our Best Buy because it cuts through the complexity of developing a plan and helps you produce slick-looking results. Its exhaustive template walks you through every step from cover letter to appendix, with plenty of samples. Key information is hot-linked--for example, you type your company name just once to have it appear in 60 places. BizPlan Builder also offers a better collection of financial tables, ratios, and projections than any competitor.

If templates aren't your style, BizPlan Builder will guide you through building your own plan from scratch. Jian also maintains a network of advisers on its Web site--attorneys, CPAs, and business consultants--one of whom you can engage to review your work or handle unique situations. Put this product high on your list if you want to start a new business or expand what you already have. Jian, 800-346-5426

Business Plan Pro
PRO: Flexible interface, a variety of templates
CON: Sample plan text and financials are somewhat spare and not well linked to other areas
PRICE: $99

The text and tables in Palo Alto Software's Business Plan Pro are neither as detailed nor as varied as those in BizPlan Builder, but this easy-to-use package may do the job for relatively simple businesses.

The flexible interface lets you start from scratch or pick from several customized sample plans. Unlike many planners, it also allows you to pick a model that mixes products and services. You can work on your plan by using a wizard that breaks the process into ten major steps, or you can use a collapsible outline of the plan. However, repeated information isn't hyperlinked, and there's no search-and-replace function, so a revision requires fixing every instance manually. Palo Alto Software, 800/229-7526

Plan Write and Plan Write Expert Edition
PRO: Expert Edition analyzes your draft
CON: No plan templates, Expert Edition is pricey
PRICE: version 4.0 $130, Expert Edition $229

We can't recommend Plan Write or the new Expert Edition because neither offers a customizable sample plan; you have to provide your own text and numbers. The higher-priced Expert Edition does analyze your answers to the interview, audit your plan, and suggest fixes when the numbers don't jibe. But its financial tables and ratios, while varied, aren't as detailed as BizPlan Builder's. Unless auditing is essential, there's no reason to use a program that gives you less and costs more. Business Resources Software, 800/423-1228

Smart Business Plan
PRO: Slick interface, plenty of formatting options
CON: Anemic templates
PRICE: $99

Smart Business Plan has a flexible, tabbed-folder interface that's easy to use, and it can handle a business that combines both products and services. Beyond that, however, we couldn't find much of substance. The ad hoc examples are thin, and you must copy them into your plan a page at a time--a clunky approach. Our Best Buy costs the same and offers tons more canned content plus additional and better features. Smart Online, 800/578-9000.