What led you to launch Venture Planner?
We built Venture Planner because we recognized the need for innovation in the business planning space. Traditional methods of creating business plans are not only time-consuming, but also open to human error. Entrepreneurs have a vision but often don't know the details. We leveraged our expertise in artificial intelligence, which has already revolutionized our legal and financial services businesses, to transform the way we create business plans. Venture Planner is our answer to the outdated manual data entry systems that have been the industry standard for years. Gather all the data you need to create a comprehensive plan in a more efficient way.
Tell us about your business – what it is, what you aim to achieve, who you work with, how you approach your customers, etc.
in venture planner, we are proud to offer an innovative, AI-powered business planning platform designed to bring entrepreneurs' visions to life. Our cutting-edge software meticulously analyzes hundreds of data points to deeply understand your business ideas. In doing so, we expertly manage assumptions and align them with realistic financial projections to ensure your business plan is robust and achievable. This level of detailed insight is invaluable to anyone looking to build a solid foundation for their business venture.
We support a wide range of clients, from ambitious entrepreneurs and dynamic start-ups to experienced financial consultants looking for reliable tools for their clients. Our platform is built with you in mind, offering an intuitive interface that simplifies the complex process of business planning.
How has the business evolved since launching? When was this?
The business launched in December 2023, and since its launch, the platform has been adopted in more than 20 countries. The platform currently attracts over 20,000 new businesses each month. Given the quality of planning offered, our focus has recently shifted from entrepreneurs to business consultants.
What is the work culture like at Venture Planner?
Venture Planner's work culture is rooted in innovation and problem-solving. We are a team of ambitious software developers, lawyers, and financial advisors who succeed by approaching challenges with creative approaches. Our passion is leveraging emerging technologies to devise novel solutions for complex business planning needs.
We foster an environment where curiosity and the pursuit of excellence are encouraged. Our developers are more than just programmers. They are inventors who are always exploring new frontiers in technology. This explorative mindset allows us to stay at the cutting edge of the business planning industry and ensure our clients receive the most advanced and efficient solutions available.
What are the benefits of peer mentoring?
Instead of taking the perhaps more traditional route of talking to an external mentor, we often find our greatest source of inspiration and guidance in each other. This allowed us to learn from each other's expertise and perspectives. But that doesn't mean I don't take the time to mentor my staff or anyone looking for career advice. Internal and external mentoring is very important to us.
How is it funded?
Our business is fully funded by the Dunham McCarthy Group. Dunham McCarthy Group is an established provider of professional services in the legal and financial fields.
What has been your biggest challenge so far and how did you overcome it?
Like many companies, our main obstacle lies in promoting our platform effectively. Our team is made up of business consultants, lawyers, and financial experts. Traditionally, our business model has centered around face-to-face interactions, with clients seeking our advice and developing our reputation through personal recommendations. But now we are focused on introducing the software's unique and advanced features to a global audience. The transition to a global digital marketplace is challenging and requires a steep learning curve.
To overcome this challenge, we implement a multifaceted marketing strategy, including targeted online advertising, content marketing, and strategic partnerships. We focus on creating high-quality, informative content that showcases the features and benefits of our software, and uses social media platforms to engage with potential customers and industry influencers. Additionally, we have sought partnerships with existing companies that can benefit from our platform, thereby gaining access to new markets and customer bases. Through these efforts, we are making significant progress in increasing awareness and adoption of our business planning software.
How do venture planners respond to unmet needs?
Venture Planner addresses three unmet needs. First, a good strategy becomes available to entrepreneurs who have no experience building a thorough business plan. We then provide guidance on realistic expectations to help manage assumptions. Entrepreneurs may have high expectations for first-year sales, but that may not be realistic. Thirdly, it helps you turn your idea into a concrete business. People may have great ideas, but they may not know where to start or lack the confidence to follow them. Venture Planner can help you transform your ideas into reality by leaps and bounds.
What does the future hold?
We are hard at work developing many tools to help companies actually execute their plans. From project management to planning and executing marketing campaigns.
Do you have any advice for setting limits with a defined skill set?
Alex: Having clearly defined complementary skill sets between business partners is important to avoid conflicts. For example, at Venture Planner, I'm involved in everything product-related, but the marketing side is completely Nicola's domain.
Nicola: There are clear divisions in our work, which are determined by where our personal strengths and expertise lie. I excel in areas where Alex is weak and vice versa. It is important that there are no two people trying to do the same thing.
What advice would you give to other founders or future founders?
Alex: First and foremost, it's important to have a distribution strategy. Establishing a solid way to get your product out there is by far the most important thing in any business. Once you have customers, you can build your organization. Through our other businesses, we have built relationships with councils, local authorities and intermediaries. This was essential to our success.
Nicola: Once distribution is sorted, it's all about people and processes. By hiring people who are more skilled than we are in certain areas, we have been able to expand our Venture Planners and other businesses. In terms of processes, automation technology has also enabled us to grow far beyond the number of employees. On a personal level, discipline and consistency are essential to success.
And finally, a more personal question. What is your daily routine or rule currently?
Nicola: Our drive to succeed professionally means that other things may fall a little behind as new projects come to fruition, but we share that passion. We're both workaholics, so our goals are pretty much the same. Alex is the only person who truly understands this particular part of my life and vice versa.
Alex: I couldn't imagine coming home from work and not being able to talk about what happened that day. Our careers have also given us great opportunities to access personal experiences together. We have traveled all over the world to collect awards. Everything we've done, we've done together, it's been amazing.
Alex Cransey and Nicola McKenzie are co-founders. venture planner.
