Is the business plan dead?

The business plan is often contested because everything is always changing and it only takes one innovation before the grand business plan that we had refined is called into question. But going blind is never a good idea unless you’ve fallen for the potion of luck.

The business plan created before the pandemic has certainly undergone many transformations during these few months. If the communication of fairs, face-to-face conferences is to be rethought, exported or imported also e.g. can act as a clue.

Do you need to draw a line on the business plan before creating your company and this to move towards other methods more in line with current uses? Is the business plan definitely dead and buried?

Until very recently, all companies, or at least a very large part of them, did not hesitate to invest significant resources to prepare the most realistic business plan possible. Remember that the business plan is the act of implementing a real planned strategy, an in-depth market research upstream of the creation of a company and the launch of a specific activity. However, in the age of the Internet, social networks and connected objects, it is now possible to consider that the business plan is living its last hours and that new methods and new applications are emerging.

The digital contribution

The formidable tool that is the Internet, social networks like Facebook, Twitter or LinkedIn, connected objects are very likely to end up under the Christmas tree in this sweet Christmas season… We are currently living in a real period of transition since the Internet has been in our homes, workplaces and public space. Everything has pretty much been revolutionized, changed, modified and the field of business creation has not escaped. Today it is already much easier to start a business than before, but the budding creator can also benefit from good tools that did not exist even a few years ago. For example, we can cite the StartMyStory.com website, which allows any business creator to benefit from a business plan produced entirely online, the Montpellier Business Plan software for a more computer-based approach to the business plan, or even EBP, better known for accounting, but which also offers a software solution for preparing a business plan.

Outdated methods?

The business plan was therefore overtaken in a short time by very advanced and functional analysis, forecasting and calculation tools, but also by access to incredible databases thanks to the Internet. Where a business creator had to take time to do research, to study the competition, to go on site to see the sold assortments in the case of physical points of sale, today he only takes a few clicks to identify the activity of a competing company and the entire market in general. Let’s take a concrete example: a few years ago it was necessary to go to a commercial court to access any company’s financial data. Today, everything is possible directly online with a few clicks. Can we talk about business plan 2.0?

A reality on the ground is nevertheless necessary

It is clear that today’s business plan has moved into a coherent form, we can now talk about business plan 2.0. Let’s not go so far as to say that the business plan is dead. It has just developed a lot in its form, but not in substance. Let’s not forget that every business creator must have an anchor in the field, in the commercial realities that exist. Even for the creators of start-ups in the IT world, it is still necessary to visit future customers or even future competitors, to identify the strengths and weaknesses of the project to be implemented. Without this anchoring in the field, no entrepreneur can succeed, and precisely the business plan itself 2.0 makes it possible to keep this contact with the commercial reality. So yes, the business plan is not dead, but its evolution is not over in the internet age!

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