Kill Your Business Plan (NYTimes story)

A New York Times article confirms something that entrepreneurs have felt for a long time – all those people telling you to prepare a business plan (and constantly revise it) to raise funding…they may not be right.

Identify with this statement?

“It was no use to us whatsoever,” Mr. Herro said. “Investors might read a business plan’s executive summary, but they have no interest in the endless pages of nonsense that entrepreneurs like me put out. If you don’t have a track record or actual sales, they are leery.”

Bottom line? If your business plan efforts aren’t helping YOU get closer to market validation, or to organize your thoughts so you can better convey them to a potential investor, rethink what you are doing.