Is Business Planning just pie in the sky?

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  In context, he’s talking about how a traditional 45 page business plan is out of date as soon as it’s written, and how one page business model summaries are more in keeping with today’s business world.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.

For help turning your ideas into a plan – however long it needs to be, give us a call…

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