Why Startups Should Throw Away Their Business Plans

This post originally appeared on the blog for Oxford Launch, a hack weekend in 2014 that I helped to organise.

Writing a business plan is a waste of time for any startup. If you’re running Lean then there’s no real reason to write one (unless you’re going to the bank, of course). Instead, focus on how you’ll answer a few core questions and spend the rest of the time you would have been writing your plan on implementing the vision those answers give you.

“Writing a business plan is a time-consuming exercise. For a startup it’s also wasteful. At the same time it’s important to give your startup strategic direction. So how do you find the direction a business plan gives you without that waste?”

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