A Business Plan Tool That Helps Size Up Your Odds of Success Enloop pushes the emotional clouds out of the startup process to give entrepreneurs a clear view of their business plan.
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What It Is
Enloop helps startups write a bank- and investor-ready business plan and provides a financial forecast of that plan. Using an algorithm that measures user input about the business idea and its market, the web app delivers the Enloop Performance Score, an evaluative score that allows the user "to really understand whether or not it might be a good idea to move forward," says founder and CEO Cynthia McCahon.
How It Started
As the founder of a site that offered business-plan templates, McCahon encountered many business owners who had sunk their money and time into flimsy ideas with wobbly financial futures. She decided to create an algorithm and a platform that would neutralize the emotional complications that often cloud the thinking of startup hopefuls. "I thought, how can we take that emotion off the table and create a system that guides people through the decision-making process, much the same way that an underwriter would look at them or write their risk using the concepts of risk analysis?" McCahon explains.