Far be it for me to disagree with so esteemed a venture capitalist as founder of Dropbox, Fitbit and GuitarHero Brad Feld when he says that “business plans are dead. Business planning is not.” In context, he’s talking about how a traditional 45 page business plan is out of date as soon as it’s written, and how one page business model summaries are more in keeping with today’s business world.
I don’t disagree entirely – but I think the purpose of the plan helps determine its format – and length. Submit a one page summary to a funder, and if they can be bothered instead of issuing a straight rejection, they’ll come back with detailed questions regarding cost and resource implications, cash-flow forecasts and requesting much more detail to support their decision making.
A short summary may be sufficient if the plan is to support the business’ internal strategic direction – but it will still need to be backed up with specifics on how to manage the logistical change any business plan necessitates.
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