Over the years, I've been an adviser and director of various early stage companies. It's been a lot of fun and always educational.
But, the process can be hit-or-miss, especially in terms of communications. Simply put, it's often hard to gauge the status of a company.
So, that's why I instantly liked the idea of PlanHQ. Basically, the company allows for a Web 2.0 platform for employees, advisers and investors to get updates on the business plan and projects.
"With PlanHQ, you can help set goals and track them," said founder Tim Norton, the CEO, in a BloggingStocks.com interview. "We also have ways to measure the value of different market opportunities, which can be very helpful in planning."
PlanHQ has an online spreadsheet as well as helpful templates. You can also export documents in Microsoft (NASDAQ: MSFT) and Adobe Systems (NASDAQ: ADBE) documents.
Interestingly enough, there is actually a viral aspect to PlanHQ. For example, if a venture capitalist uses the system, there's a good chance that he or she will think about using it for other portfolio companies.
Unlike many other Web 2.0 companies, PlanHQ has a solid business model. That is, it charges monthly fees, which range from $9 to $49.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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