LearnHub

Join LearnHub

Community

Student Business-Business Plans

Is writing a business plan worthwhile? (Discussion)

Malgosia said – Wed, 08 Apr 2009 14:30:16 -0000 ( Edit Link )

In my experience, a business plan is only really useful as an exercise for your own benefit. It is highly unlikely anyone will ever read it besides you because who really has the time or attention span? Investors, for example, want to see a slide deck. This is basically a short powerpoint presentation outlining your market opportunity, competition, business model etc. There is a great lesson on it here. Slide decks are great as they force you to be succinct. They are also easy to modify, unlike a long-winded business plan.

Actions

Respond

Author: Malgosia; Authority 473

Vote

Current Rating: 0; Rate Up; Rate Down

No Votes

3 Responses

ijuxamster said – Thu, 09 Apr 2009 08:58:36 -0000 ( Flag Edit Mark / Unmark Best Link )

Yes,Seriously useful..For a serious plan do you think some slides suffice??I dont think so..A plan need a solid execution and which a business plan provides.Slides cannot give away whole information about your Management,company background,marketing,competition,financial estimates etc.You are not just showing your idea but you need to support your idea and look at the feasibility of the plan.
Actions
Reply To This
Author

ijuxamster

Authority 341

Vote

Current Rating

0

Rate Up

Rate Down

No Votes
Post Comments
Add Comment

Your Reply
oLahav said – Fri, 10 Apr 2009 13:38:33 -0000 ( Flag Edit Mark / Unmark Best Link )

I’m not an expert on this (entrepreneurship isn’t my game), but at my school they spend a lot of time on business plans. And I hate them, I don’t see them as very useful.

I agree that it’s important to have all the information about the company, but it doesn’t necessarily have to be organized in a structured document. I just don’t like structures that much, they lock you in, and it’s always better to think outside of the box.

I agree with Malgosia- business plans are too long and nobody’s going to read them entirely. A smaller summary should be quite enough, going over just the major points. If they guys are interested they’ll ask you. Slides are great for making the big points too. As long as you have the plan in your head to support the main points, I don’t think putting it on paper helps much.
Actions
Reply To This
Author

oLahav

Authority 711

Vote

Current Rating

0

Rate Up

Rate Down

No Votes
Post Comments
Add Comment

Your Reply
ijuxamster said – Wed, 15 Apr 2009 06:10:34 -0000 ( Flag Edit Mark / Unmark Best Link )

I agree with you when you are expressing your idea.But when it comes to starting up the business idea you need to have a proper documented and compiled formats from all around.
Actions
Reply To This
Author

ijuxamster

Authority 341

Vote

Current Rating

0

Rate Up

Rate Down

No Votes
Post Comments
Add Comment

Your Reply