Is it true? Guy Kawasaki talks about writing business plans in his book Reality Check, and how entrepreneurs can get so caught up in the train of thought that they have to write these huge elaborate books of pages upon pages before they even start the business. Should entrepreneurs ditch the business plan altogether? I would say so. All an entrepreneur needs is his pitch and an executive summary, which I wrote on earlier. Most venture capitalists will look at the first few pages of the executive summary and go on gut feeling after the pitch. So until you’re fully immersed in your business and need to look at some in depth financial analysis for a critical next step decision, hold off. Just build it and show it.
March 10, 2009, 9:46am Comments
