Business plans – more controversial than you might think

Earlier today, I was one of three guests answering questions about business plans for startups on a Startup Canada’s weekly #startupchats Twitter session. It turned out to be a lively debate that let us all explore our assumptions and get past the platitudes to more meaningful discussion than this type of event sometimes delivers.

Stratpad is a cloud-based business planning tool.

Stratpad is a cloud-based business planning tool.

 

One of the other guests, Alex Glassey from stratpad.com has already posted an informative blog post around the three key issues that were debated – cash flow, what IS a business plan, and canvas vs. business plan:

#startupchats: the #bizplan debate in microcosm

 

 

Anyone familiar with my business approach will be unsurprised by the fact that my positions on each boil down to the fact that apparently conflicting approaches are more often complementary.

  • Of course cash flow is important! (But if you’ve got funding, you have more runway before it has to be a positive flow.)
  • Business plans CAN be complex and old fashioned. (But they’re more effective if they are leaner and iterative.)
  • Canvas vs. business plan? (Why not both. They each deliver benefits.)

Today’s other guest, @HackerStudios, put it all in perspective:

Even if you never show It to anyone, a #bizplan will help you beter understand your own business

Even if you never show It to anyone, a #bizplan will help you beter understand your own business

If you’re interested in tips for creating business plans that will help drive your startup forward, the recap of the discussion is a good read, with great points from all sides.  Check it out here:

Startup Canada’s Business Planning Twitter Chat Recapstartupcan

Hope to hear your feedback. What did we get right? What do you disagree with?

 

Advertisements

About Sandi_Jones
Technical marketer, product developer, geek, unconventional entrepreneur. I fell in love with technology in the mid-90's, found my inner geek, and never looked back.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: