Some good reasons why startup business plans are a waste of time

I’m not a big fan of business plans. Ok, the authors of GCSE & A`Level textbooks all fall for the myth that writing a business plan is a compulsory part of setting up and then running a small business.

But there are thousands of successful entrepreneurs out there for whom writing a business plan would simply get in the way of building a good business.

So its nice to come across a well-argued alternative perspective on start-up business plans - here.

At tutor2u we’ve never produced a business plan - and I can’t imagine a scenario where we would need one, even if we were trying to raise finance or sell a stake. Life is simply too short, and the business world too changeable, to bother! Market research, competitor analysis, cash flow forecasts & financial projections - fine (in fact vital). But putting it all together into a formal business plan - a total waste of time.