Getting lost in rehashing and dragging out a business plan for a year or more can cost your startup the optimal moment to get to market and the best funding opportunities.
Too many founders have also tried to cram the equivalent of a business plan into a pitch deck, only to find it is a hindrance to getting the results they want.
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.
Harvard Business Review (HBR) says “the real key to succeeding in business is being flexible and responsive to opportunities.
Entrepreneurs often have to pivot their business once it becomes clear that their original customer is not the right customer, or when it turns out that their product or service fits better in an alternate market.
want to see if you hope to get a funding check from him in a moment.
Yet, the point is that most aspiring business owners aren’t even trying to match up their goals with what they think they are supposed to be doing.
Traditional business plans can be big beasts of a project that suck time, money and mojo at a vital moment.
Don’t do it unless you know why and what you are trying to achieve with it.