There are those who think the business plan is essential and there they were their ideas of the most convincing arguments. “Do you want to get started? So start making a business plan first!”. This phrase has already been heard by many project managers many times. What if all those who advise you to review the business plan box despite their good will made a mistake? … With the confinement, the project managers saw that their business plan, which they had refined, was almost obsolete !!! Some reasons not to follow!
It will at least be wrong, you do not know what crisis or evolution will occur!
A nice 50-page document with very nice graphics and characters everywhere, and all that for what? To prove that your business idea is the idea of the century and that you will be the king of oils in less than two years! It’s beautiful … but it’s fake! Rest assured, you are not the only one who has written a business plan that looks more like an adventure than the harsh reality of the market. Investors know this: The business plans they receive are always too optimistic and analyze the market according to the interests of the company. Investors also look more closely, in the precious document, at whether entrepreneurs are able to ask the right questions than if they provide the right answers.
As you can see with the pandemic, all business plans have fallen through!
Who said a business plan was a great way to run your business on a daily basis? All ? Well, a little advice: stop listening to what all the budding entrepreneurs around you are shouting, and focus on the right data that will help you run your business: customer feedback. Your business plan will show you, with supporting numbers, that you need to go in direction A, if your customers expect you in direction B, you will have to give up your business plan and its forecasts.
Too time consuming to be an added value!
When you have finished writing your beautiful business plan, you can be proud to tell those around you that you spent three months completing the document. Congratulations, you just spent three months locked up at home in front of your computer as you could have spent this precious time meeting your prospects, seeking new customers and testing the impact of your offer on your goal. . It is better to go straight to the point and not waste time introducing your offer in the market as soon as possible, especially if it is about innovation. Every day counts!
All business plans are almost copy-paste
Unless you are embarking on a somewhat atypical business plan that goes beyond the well-defined framework of the perfect small business plan, you will only be offering your investors and partners one more cloned document. If you still decide to write a business plan, renew yourself a bit and get out of the usual structure. Dare to ask the right questions, clearly state the problems you encounter and the solutions you are considering, any difficulties you have been able to overcome … And address the points that irritate you, all of these questions that investors will ask you anyway: how will you return? you know if your market collapses?
Have you clearly defined terms and conditions in case of partner conflicts? You will be all the better at selling dreams if you connect them with reality.
Investors are looking for the idea of the century!
Do you really think you’re going to impress investors with your awfully flat business plan? Know that in order to hold the attention of financiers who see project managers with similar business plans spend all day, you will need to innovate. Without going so far as to sound eccentric, dare to do without an ultra-complete business plan and impose yourself thanks to an oral presentation that proves your entrepreneurial talent and the relevance of your project.
You want to lock yourself in a straitjacket!
One of the problems with the business plan is that it tends to limit the entrepreneur to a completely predefined scenario, which sometimes prevents him from taking paths he had not thought of. By sticking to his business plan, for fear of the unknown, the entrepreneur misses out on exactly what makes small structures the great strength of large companies: agility. The road to success can be very far from what you envisioned in your original business plan. Probably even. And you must at all times be ready to give up your well-established plan to embark on an improvised but terribly effective strategy. A little spontaneity does not hurt the business!
Anchor yourself in the relationship with the customers
Do you give investors a 50-page file where you show with A + B that your idea is brilliant? Be aware that they may just be telling you that you just have to prove that your concept is great!
Better than explaining with beautiful phrases that you are going to be a hit, then do your best to give your future investors a concrete proof that your business is gaining momentum. Customers’ reaction to your offer will speak louder than all charts and graphs in the world.
Do you really think they’re bored of doing it in Silicon Valley?
Are you telling yourself that without a business plan you will inevitably go into a wall? Prove yourself by remembering that many entrepreneurs have been successful without wasting their time writing a business plan. Do you think Steve Jobs, Mark Zuckerberg, Bill Gates or even Jeff Bezos took their little notebooks to make a business plan before launching? The answer is no. They launched themselves, sometimes went on roads that were not the best, rectified the situation … and were a hit, just by throwing themselves into the field.
A brake not to create
Supporters of the “no business plan” method always come up with a pretty convincing argument. The business plan will only serve to give the project manager a wide range of good reasons not to take on. Bad numbers indicating that the market is totally blocked, a study that is a little too comprehensive about future competitors proving that they will be invincible …
Sometimes it is better to hide and kamikaze. by looking too much for the right conditions to create your business, you end up never getting started.
You will deviate from the reality that changes every moment!
Study behind your computer to gather market research numbers, brainstorm to find the most beautiful kind of chart to highlight your competitive advantages … All that’s fine. But it is far, very far from the field and from your customers, the only truths to analyze carefully. if you study the market too much, you risk never being able to join this market! Not being blind is good. But do not forget the real world of sight, which sometimes reacts in surprising ways that are very different than you expected in your paintings!