This piece in the WSJ illustrates my evangelism.
"The 100 Page Start-Up Plan—Don’t Bother", by Kelly Spors
"It doesn’t take a year of planning to figure out whether someone is
going to buy your product," says William Bygrave, a Babson College
entrepreneurship professor. "All you have to do is start selling it."
Traditionally, when a business plan has been essential
is when a start-up is pitched to potential investors. But even that’s
changing. Many venture capitalists and angel investors now say an
effective 10-minute slide presentation or executive summary can be more
effective than a full-blown written plan.
Investors often base their decision to invest on their trust in the people running the business as much as the idea itself.
"The most important thing they should do is create a prototype" of
their product, Mr. Kawasaki says. "Spend your time creating prototypes,
(Doug’s emphasis added)
This is not to say that planning is not a requirement. Rather, planning should be done in the context of reality and tangible prototyping.
I’m guessing that the average time from getting on the "Hey I’d like some money" circuit right now to a cleared check is over 12 months in Central Iowa. That needs to change.