We look for functional prototypes and customer development and most importantly, scalability.
Can you scale customer acquisition cheaply and measurably?
You should have a plan in order to get yourself organized, to ensure you have some type of viable commercial potential, you have focus and hopefully aren’t going to run out of money or starve before you get going.
If that’s all you need, and you don’t plan to raise money, apply for loans and don’t intend on bringing in partners, then you certainly don’t need a 25lb manuscript. In fact, Brian Chesky (found of Airbnb) is famous for his one-page business plan for global domination.
Writing a business plan is an opportunity to carefully think through every step of starting your company so you can prepare for success.
This is your chance to discover any weaknesses in your business idea, identify opportunities you may not have considered, and plan how you will deal with challenges that are likely to arise.If you are planning to go to a local bank for a business loan, or are approaching your sphere of influence for backing who you know is accustomed to seeing legit business plans, then you know you probably need to create something that they understand in a format they are comfortable with.Business plans and pitch decks are two different things. Yet, one is for presenting and specifically for getting funding from angels and VCs.want to see if you hope to get a funding check from him in a moment.Yet, the point is that most aspiring business owners aren’t even trying to match up their goals with what they think they are supposed to be doing.The other is more organizational an internal in nature.If you want to get funded by David Mc Clure, then he says he wants to see “a functional product that people are using.Yet, some may also think that pitch decks and clever presentations may he displaced them.Every entrepreneur and startup company needs a plan.Traditional business plans can be big beasts of a project that suck time, money and mojo at a vital moment.Don’t do it unless you know why and what you are trying to achieve with it.