Straight Shot, an Omaha-based business accelerator, used cloud-based planning and tracking tool, LivePlan to teach critical business planning skills and ultimately help the program’s most recent class of startups improve their chances of long-term success.
LivePlan, created by Palo Alto Software, is a cloud-based planning and tracking software that allows business owners to put together high-quality business plans and pitch decks to present to investors. It also allows users to develop budgets, forecasts and goals and then imports accounting data from QuickBooks or Xero so users can track their progress against previously set plans.
“LivePlan is perfect for startups because it helps entrepreneurs think through their assumptions and easily develop business plans and financial projections,” said Sabrina Parsons, CEO of Palo Alto Software. “It’s important for startups that go through accelerator programs to learn the basics of planning, tracking and financial management once the initial launch is complete.”
One company in particular has witnessed success using LivePlan: Kitchin, which is an app that creates a mobile, digital kitchen. The company graduated from the Straight Shot accelerator in 2014 and Corey Anend, CEO and founder of Kitchin, credits LivePlan for his success in planning and successfully launching his business.
“With the help of LivePlan, I was able to put together an investor-ready pitch that included all of the elements I need to really sell our business idea,” said Anand. “LivePlan, combined with Straight Shot’s mentorship and guidance, has played a significant role in the success of Kitchin so far.”
Anand and many of the other startups that have launched through the Straight Shot program continue to use LivePlan to manage the daily operations of their businesses. The tool is designed to help entrepreneurs during every phase of the business process: from the initial idea stage, to managing financials long-term, and even to preparing for exit.
“Tools like LivePlan have been a great asset for our program because once startups launch and receive an initial round of funding, they are often ill prepared to continue managing their operations to remain profitable,” said David Arnold, managing director of Straight Shot. “At Straight Shot we emphasize the business planning and tracking processes that are necessary once a startup is launched, and LivePlan has really helped our companies master this.”
For more information about how LivePlan can help your startup or accelerator program, please visit www.liveplan.com.
About Straight Shot
Straight Shot is an e-commerce and SaaS accelerator - located in Omaha, NE - that is dedicated to rapidly developing technology startups in a way that will allow them to succeed the first time. Learn more at http://straightshot.co/