If you are planning to go to a local bank for a business loan, or are approaching your sphere of influence for backing who you know is accustomed to seeing legit business plans, then you know you probably need to create something that they understand in a format they are comfortable with. In fact, Brian Chesky (founder of Airbnb) is famous for his one-page business plan for global domination. 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. You have focus and hopefully aren’t going to run out of money or starve before you get going. You should have a plan in order to get yourself organized and to ensure you have some type of viable commercial potential. 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. In fact, Silicon Valley angel investor, VC and founder of 500 Startups, David McClure says “don’t write a business plans.” We’ll show you what he does want to see if you hope to get a funding check from him in a moment.
Don’t do it unless you know why and what you are trying to achieve with it. Traditional business plans can be big beasts of a project that suck time, money and mojo at a vital moment. Just because it is the status quo should never be a line in the vocabulary of a startup founder today.
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