Are Business Plans Still Necessary?

When I talk about a business plan I’m not talking about a 40-page Word document outlining your market approach.  That died with waterfall software development.  I’m not even talking about your 12-page Powerpoint presentation that you need to raise venture capital or to talk with potential biz dev partners. I’m talking about your financial spreadsheet.  I will quote a prominent, well-known entrepreneur whom I like and respect and who told me when he was raising money, “I don’t know how much I’m going to charge for my product so why should I create an artificial spreadsheet?” Here’s why. 

 

(Full Post: http://www.bothsidesofthetable.com/2009/11/03/are-business-plans-still-necessary/


imgres.jpeg

Mark Suster 

Mark Suster is a 2x entrepreneur and an investor. He joined Upfront Ventures in 2007 as a General Partner after selling his company Koral to Salesforce.com. He focuses on early-stage technology companies.

 Twitter | Blog




Filed Under:
Collection: Funding
Category: Pitch Style, Tools & Issues