Like a pitch deck, it it’s good enough it can be sufficient to get lenders and investors to choose to work with you, and work through the details in the process.
The big problem with business plans is that entrepreneurs often get bogged down in them.
Because of these realities, business plans written at the start end up nothing more than a fable.” Fortunately, crafting a business plan has become much simpler today.
There are plenty of data sources to back up assumptions and to complete research.
The other is more organizational an internal in nature.
If you want to get funded by David Mc Clure, then he says he wants to see “a functional product that people are using.
Even your friends and family, or the most aggressive angel investors.
Things have changed., a business plan is still a must for some scenarios and some reasons.
You should have a plan in order to get yourself organized, to ensure you have some type of viable commercial potential, you have focus and hopefully aren’t going to run out of money or starve before you get going.
If that’s all you need, and you don’t plan to raise money, apply for loans and don’t intend on bringing in partners, then you certainly don’t need a 25lb manuscript. In fact, Brian Chesky (found of Airbnb) is famous for his one-page business plan for global domination.