Are you ready to stop guessing and start making data-driven decisions for your business? In this webinar, LivePlan experts Peter, Max, and Justin walk you through our powerful new premium feature: Industry Data. Discover how to leverage professional-grade industry research to build a smarter business plan, create a more accurate financial forecast, and confidently pitch to funders. Whether you're just starting out, seeking a loan, or managing an established business, you'll learn how to use this data to gain a competitive edge. Watch the full recording to transform your planning process from a shot in the dark to a clear roadmap for success.
What You'll Learn
This webinar is packed with practical tips and a deep dive into using our new Industry Data feature, powered by Vertical IQ. Here’s a look at what we cover:
Understanding the Core Feature
Navigate the Industry Data Tab: Get a complete tour of the new feature, where to find it, and how it integrates with the rest of your LivePlan account. Demystify NAICS Codes: Learn what the North American Industry Classification System (NAICS) is and why it's the key to unlocking relevant data for your specific business. Find Your Perfect Match: See how LivePlan's AI automatically suggests the best industry for you and how you can easily explore and switch between related industries to find the best fit, even if your business is in a unique or disruptive niche. Trust the Source: Understand where our data comes from (our partner, Vertical IQ), why lenders trust it, and how you can confidently cite it in your business plan.
Craft a Data-Driven Business Plan
Move Beyond the Blank Page: Use detailed reports on how firms in your industry operate—including revenue breakdowns, profit drivers, and operational structures—to inform your plan from day one. Identify Market Trends and Opportunities: Easily copy and paste key industry trends, such as growth rates and consumer behavior shifts, directly into your plan to demonstrate you've done your homework. Understand Your Industry's Structure: Gain insight into the competitive landscape, barriers to entry, and common business structures (like S-corps or LLCs) to position your business for success.
Build a Confident Financial Forecast
Benchmark Your Financials: Compare your forecast against industry averages for key metrics like gross margin, net profit margin, and even revenue per employee. Gut-Check Your Assumptions: Use benchmarks to spot where your forecast might be unrealistic. If your projected operating margin is 400% above the industry average, it's a great signal to review your expenses. Refine Your Revenue Streams: Discover the typical revenue breakdown for your industry (e.g., 35% of a coffee shop's revenue comes from food) to identify potential new income opportunities you may have overlooked.
Prepare for Funding and Growth
Anticipate Funder Questions: Access a list of the exact questions lenders are likely to ask about your specific industry, so you can walk into any funding meeting prepared and confident. Address Industry Risks Proactively: Understand the perceived risks in your industry and use the "Risks and Mitigation" section of your plan to explain how your business will overcome them—turning potential weaknesses into strengths. Manage Your Business with Data: For established businesses, learn how to compare your actual performance (synced from QuickBooks or Xero) against both your forecast and industry averages to identify strategic advantages and areas for improvement.
