The #1 (perceived) risk of short business plans
The most frequent concern that I hear from business people when we talk about short business plans is, “What if my banker/investor/partner expects a traditional (i.e. long) business plan?”
Increasingly, bankers and investors are satisfied with a 2-4 page business plan as long as it’s well-written and tells the whole story. A friend of mine, who spent years in Silicon Valley putting together corporate transactions totalling $3 billion, recently told me that she NEVER asked for more than a short business plan or the corresponding slide deck.
If your banker/investor/partner wants more detail after they’ve read your short business plan, they’ll ask you for it. It’ll take you much less time to respond to a specific request than to pre-emptively write a 100-page document.
What’s your experience? Was your short business plan acceptable to your banker or investor?