Avoid writing a Business Plan

Recently I have been talking to a couple of people about the sense of writing business plans.

I have come to the conculsion that under certain circumstances it does not make sense at all to write one. Why? Imagine yoursef in a very competitive environment like Germany or the US for example. Time to market is crucial.

Nowadays it is easy for barely everybody with the right set of knowhow to become serious competition within weeks. At least if you live in a copycat environment like Germany. What a shame it is... Whatever....Time to market and the proof of concept is (in some cases) more important than having a perfect plan.

Can you afford wasting 2-3 weeks for writing something down you already have planned out in your brain? The answer is: No, not necessarily if time and money is -as usual- a factor. Just calculate the cost of it! 2 weeks of work....imagine the money you could earn with something else. I have seen people lose opportunities because they wrote a plan....omg.

What you need in order to skip the annoying task (at least if you don´t need investors) of writing a biz-plan:

1. Opportunity & vision: An awesome idea, team and concept. AAA everything. Then go for it. Asap.
2. Awesome financial planning and revenue stream flexibility.
3. Insider information from a trustworthy source.
4. You are extremely talented and hands on the job and you are not a perfectionist.
5. Pocket money, so you dont have to really care.

If you miss one of the above: Write your damn plan, but dont be a prefectionnist nless you have to be. Halfway down the road you will either have convinced yourself that the thing will fly for sure or you will have realized that its utter bullshit.

Bottom line if you want to source some money or you are a perfectionist nut-job: Write a plan for gods sake and risk losing the market. In all other cases: Good results are the best plan.


Cheers.M

P.S.:

Do not have it written by a third person. Outsourcing is good, but outsourcing your brain is plain stupid.
Keep it short and think what the reader wants to hear/values most. No fuss.
Never say you assume a 1% share of the market. Its bullshit. Every investor reading it will think you are a nut-job. i completely understand that.