Are business plans outdated for tech and internet startups? Is it necessary to write a business plan or can you get by with an elevator pitch? Do investors expect you to have a business plan?
Watch this video where Andrew explains why the business plan is essential for founders as they build their companies and try to raise venture capital.
Tweetable:
Video Takeaways
- The most important audiences for your business plan
- What questions the business plan answers
If you haven’t already, sign up to get access to our pitch deck template.
Have you written a business plan for your startup? Do you share your business plan with employees? How has your business plan been received by investors?
Tell us about your experience in the comments or submit your startup question for the chance to be featured in a future video.
I have heard one of my mentors saying that I should just have a pitch deck instead of business plan as most investors do not look at business plans these days. Is that true? or the ‘business plan’ here in your video is referring to the pitch deck? Thanks Andrew.
Hi Jia, a lot of people use those terms interchangeably. I can’t tell what your mentor is referring to — but it’s not true that investors aren’t interested in all the slides that I reference in our business plan template.
Pingback: Are Business Plans Obsolete For Startups? | Budejicky Management Consultancy