If you’re like many entrepreneurs, you shudder when you hear the dreaded words “business plan.” You envision an unrelenting tomb of market research, numbers and statistics, and spreadsheets as far as the eye can see, and fees…lots of consulting fees. That’s just one of the reasons that business plans get bad raps. The biggest one though is that after all that investment, the business plan doesn’t see the light of day.
I know because I’ve been on both sides of the business plan. As a consultant during the heady days of the dotcom boom, I wrote jillions (technical term) of them. And time and time again, I saw them succeed at bringing in the money from a venture capital firm, and then get shelved when reality set in.