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It was created for newer versions of Word and Excel (Office 2007 or later) so that you can easily change the fonts and color scheme and the file will be compatible with the mobile and web-based Word & Excel apps.It is best to use Excel for financial statements, data tables and charts.
Business plans are used by entrepreneurs to secure funding for their business idea or by small business owners looking to refine their business strategy.
Regardless of the purpose, having templates at the ready can be helpful.
If you don't want the table to be editable in Word, you can "Paste as a Picture" using Paste Special or by choosing the "Picture" option when you right-click in Word to paste the table.
Important: When you paste a chart object into your business plan, make sure to "Paste as a Picture" because pasting the chart as an embedded object means that the entire spreadsheet becomes embedded in your Word document (even though what you see is only the chart).
One of the reasons that so many small businesses fail is that they don't do the necessary up front work to create an accurate and realistic business plan.
Creating a business plan doesn't guarantee success, but the process of writing a plan is critical for any successful new business.
The One-Page Business Plan Company offers exactly what its name implies: a one-page business plan for those who don't see the need for an elaborate plan.
The one-page business plan is separated into several sections such as vision, mission, objectives, strategies and action plans.
If you want to insert a table into Word as a "Linked Object" so that when you edit Excel, the table in Word will update automatically, you may have a more difficult time preserving the formatting of the original.
However, at the least the entire spreadsheet won't be embedded within your business plan Word document.