Summary
The goal of this chapter has been to clarify the rationale and need for a business plan, and provide specific guidance to create specific elements. In summary, I would like to emphasize some of the key points by looking at what can go wrong if you don't get it right or don't use it correctly with investors once it's done.
After struggling to create your business plan for months, every technical entrepreneur likes to think that their document is inspirational and will reach someone who is smart enough to see the brilliance of the idea, intuitive enough to recognize their business acumen, and enthusiastic enough to offer the money required to make it happen.
Every serious investor, on the other hand, has a stack of these in their in-basket (e-mail or real plastic), awaiting review. They are looking for the flaw or less-capable entrepreneur in each that predicts failure, allowing them to discard it like another piece of junk mail. Many VC firms and investment banks receive as many as...
