Why Startups should NOT write a Business Plan

Ready to validate your startup business idea?
Slidebean can help validate your business idea with our:
► Lean Validation Board Template and other tools
► Startup Business Validation Lessons
► Startup Community Events
& more…
Our Community gets 30% Discount on their Slidebean Subscription. Get started now: Use code ‘SLBYTCOMMUNITY’ or check out youtube.slideb...
Are you ready to pitch to investors? We can help ►
slidebean.com/...
Subscribe to our FREE weekly startup newsletter ► slidebean.com/...
A relatively common question we get revolves around business plans. A good amount of our customers asks us if we can write a business plan for them, and we always respectfully decline. In this video, we are going to look into why the business plan is an outdated way to approach starting a business, and how new frameworks like The Lean Startup are a much more effective way to build companies.
#slidebean #startups #businessplan
0:32 - Why startups should not write a business plan?
5:09 - Pitch deck vs. Business plan
6:21 - In summary...
Let us improve your pitch deck: slidebean.com/...
Sign Up for Slidebean - 1 month FREE: slidebean.com/...
Read the article: slidebean.com/...
----
Our free Udemy Course: www.udemy.com/...
Build your website with our templates - slidebean.com/...
Get The Lean Startup Book: amzn.to/3dEsnPi
----
Subscribe - / @slidebean
Startup Café on Discord - slidebean.com/...
Send your T-Shirt to Caya - bit.ly/2MJRxAM
----
Recommended videos:
1) How to Create a Pitch Deck for Investors: • How to Make a Pitch De...
2) Seed Funding for Startups: How to raise venture capital as an entrepreneur: • Seed Funding: How to R...
3) Demo Days: How to deliver a startup pitch deck - • Demo Day: how to deliv...
----
Slidebean’s Social Media:
Twitter: / slidebean
Linkedin: / slidebean
----
Caya’s Social Media:
Linkedin: / caya
KZbin: / cayaphoto
Twitter: / caya_c137

[@slidebean]

Thanks for watching! Check out even more resources: Our pitch deck service: slidebean.com/pitch-deck Our Blog: Daily articles on startup insights. slidebean.com/blog Our KZbin Channel: Two weekly videos about all-things startups and more kzbin.info Our Free Templates: Nearly 200 free templates you can download and edit, including the ones you need to get your business started. slidebean.com/templates Our Udemy course: www.udemy.com/course/starting-a-business-101/

[@myshah4476]

Your KZbin channel is Indian students favourite channel...all Indian entrepreneurs are talking about your work.

[@gsusmakama]

This was great, I've been looking for "total productive maintenance examples" for a while now, and I think this has helped. Have you ever come across - Peanlivory Singular Predominance - (should be on google have a look ) ? It is a great one of a kind product for discovering how to learning how to start a successful handyman business without the hard work. Ive heard some unbelievable things about it and my neighbour got cool results with it.

[@ensouled8789]

You should write a business plan if you want to get business loans from banks or if you will apply for government program at the SBA or your states Dept. of Labor. It's just nice to have one ready if an opportunity comes up that requires one; so you don't have to scramble.

[@vikram6462]

The most underrated guy on youtube.

[@slidebean]

Thank you for watching!

[@olukunleakinola7133]

Honestly. I like his delivery.

[@jorrpatel238]

180K is not underrated 😂

[@PGar58]

Totally agree. He’s smart, charismatic and down to earth. He takes complex concepts and presents it in a way a 12 year old of average intelligence would understand. That’s a rare skill.

[@PGar58]

@@olukunleakinola7133 He doesn’t get the run that a Simon Whistler does, that’s what makes him underrated. Maybe under appreciated is more accurate, I don’t know.

[@stealthoverflow]

Slidebean actually is my favourite youtube channel now. No kidding. Love your videos.

[@slidebean]

That's awesome! Thank you!

[@winstonidiliopetersnavarro3442]

I really do feel the same. Thanks guys, keep doing this!

[@brunorousseau6337]

This is one of the best KZbin Channel I have seen in years. Well done

[@slidebean]

Thank you for watching!

[@puneethkumarhs4367]

To be honest, The way you guys plan out everything is just amazing , I just know what your upto always , but still I can't deny it..., I want my startup's to be the same. Great work you guys 👍

[@slidebean]

Thank you so much!

[@rightright6582]

The solution is a business plan kick-start; A 3 or 5 page doc summarizing the business model and possible fatal flaws among other neurological points. Great channel

[@danielteixeira6497]

To be honest this works depending on the industry you are in. Say we move to aerospacial industry or mining industry. Will you really build as fast as possible and then test if it works to rebuild it if you are spending billions on each project or where you have lives at stake? Lean startup models of planning work on a specific context. This should be explained to new entrepreneurs. The idea of planning originates in a context where companies engaging in planning were mostly intensive capital and in low turbulence environments. If your business need high investment for products or services, by all mean thoroughly plan, and consider spending money on a previous market research. If it doesn't you are better off testing premises in practice.

[@bradhouston4734]

Thanks. I am so behind this. People always say “do you have a business plan ?” And I am like “NO... but I have 3 yrs of notes in my note keeping software that covers it all!

[@slidebean]

Hope the pitch deck helps putting those ideas together faster, then! Thanks for watching!

[@camiloguzman1801]

I Have No words for the amazing quality that this channel gives. I have zero experience on business world, less in a cutthroat world that the tech world is, but with this channel i don't feel lost.

[@muhammadkevinmatondang3653]

I'm afraid of wasting my time on this awesome channel instead of starting my business

[@12819421]

Very useful for early entrepreneurs to get clarity on "Pitch Deck vs Business Plan"! PD vs BP

[@masterstepz9800]

I appreciate this video validating what I thought for a long time. I always felt like the some of the contents of were a waste of time especially since my business didn't exist yet and was essentially just an idea. Validating it at those stages is time better spent.

[@puneethkumarhs4367]

A small request, since im an early victim of slidebean's content marketing , please make a video on how to write pitch deck's for Non-profit's. (If it's not a problem) 😊

[@slidebean]

Not a problem! However, we already have a template developed you might want to check out: slidebean.com/templates/nonprofit-business-plan hope that helps!

[@puneethkumarhs4367]

Tqsm😊

[@milenatos]

Wait wait! I don't know which one is older but I saw just yesterday one of your videos where you literally said that a business plan is super uber important, like the most important thing to have before you even started and a must have for founders themselves and not just for pitching investors. And I completely agree that it is! Only after I made a simulation I was able to grasp how valuable my business actually is and how much money should I need to invest in it to reach the projection

[@EGTGUY]

I completely agree. As a Starup founder, the amount of time I have spent looking up Business Plan templates and examples, where most BP templates themselves are pages long, it's just too taxing for anyone on a tight schedule and budget to tackle. You will eventually need one I'm sure, but I agree completely that there is a simpler way to get your Business idea across...the pitch deck! Short and sweet.

[@slidebean]

Thank you for watching!

[@VitoD226]

They have different uses

[@washingtonradio]

Interesting point, it's not that you do not need to have an plan but you do not need a detailed plan. The same questions have to be answered but it is the level of detail that differs. Also, as anyone who has tried starting a business knows you need to learn fast and adjust on the fly. A detailed, formal business plan will tend force one to follow it slavishly instead of adjusting on the fly.

[@europec2082]

I think business plans are ok, just be willing to be flexible 😉

[@arifartista]

The most underrated channel on KZbin yet with another great content. Thumbs up guys!

[@slidebean]

Wow, thanks! You're the best!

[@angcil88]

Haha! I remember when I watched a video about a leading VC guy giving a guest lecture to a college students about business plan in start up. He said don't ever ever write a 200 pages business plan if you're building a start up company, especially when you're in early stage. He said many of the companies in which they invested in who wrote hundreds of pages business plans were never actually realized according to what they have written 😂 Having a business plan is necessary, but don't get too worked up on it. Instead test your hypothesis as soon as possible. Like a mindset of a scientist trying to prove their theory! Experiment and A/B testing!

[@slidebean]

Thank you for watching!

[@KOSMOinfinite]

Legacy funding streams such as the Bank still prefer and like Business Plans. Also, many Government Grant competitions still require the dated Business Plan document.

[@Akshatgiri]

One of my new favorite channels. Straight value. 👌

[@slidebean]

Thank you for your comment! Glad it was useful!

[@imnobodywhoareyouu]

I was watching a video called How to Write a Business Plan... then I saw this in the recommendations.

[@rolande5043]

If I was an investor in handing over capital to a start up I would expect them to have a pitch deck AND a business plan. So that I know they will not squander on my investment

[@MassiveSuccessVids]

Informative videos are great. Depressing as I wasted years doing F Biz Plans that never went anywhere. But I ain't given up yet.

[@slidebean]

Thank you for your comment! Business plans are still required and necessary in some contexts, but a pitch deck is a good alternative way that is valid in other scenarios!

[@bishalchanda2223]

Really a fan of your videos. Thanks for making such helpful content. Can't wait for another of your awesome videos. Thanks in advance. Stay safe❤️

[@slidebean]

Thank you for watching!

[@karlmakongo9592]

This video is literally heaven-sent to me. The best video I have watched this year so far? 🔥🔥🔥🔥

[@CRVB7]

I pressed the like button after finishing the first two videos in your channel. The rest however were (Like then Watch) because of the quality content. Thank you for the well presented high quality content!!

[@slidebean]

Wow, thanks!

[@paulbampoe8697]

The world needs more people like you and your slide bean team!

[@slidebean]

Thank you so much, Paul!

[@epiemabricenjume3860]

Looking forward to this, Caya. you quite inspire me. ​I will also need some tips on how to go about Fund Raising Rounds. Want to raise $430,000 for my Flour Factory, All-Purpose Plantain Flour and a healthier substitute for Cerelac made from 100% Organic

[@slidebean]

Thank you! Sounds great! Email us at [e-mail] to see how we can help 🙂

[@adamlouly6604]

Waiting for this great video! thanks caya & slidebean team for this great content

[@slidebean]

Thank you, Adam!

[@VORTEX___]

This is not true in Germany as you usually need a well-written and heavily feedbacked and revised 20-30 pages business plan to get funding. A pitch deck is not enough (you need both and much more than that). Spending time on writing a business plan is just a minimal time effort compared to anything else.

[@dr.j5367]

Just a quick add-on: Not writing a business plan is not the same as not planning. I have seen many entrepreneurs wasting time and money in actions they could have avoided with a little planning first.

[@slidebean]

Thanks for your remark!

[@pietwitten640]

Yeah really click bait-ish title. "Pitch deck vs business plan " or something like that was a better one,but I guess less views...

[@williamnjau3987]

This is a masterclass. Thanks, Man!

[@slidebean]

You're very welcome!

[@jasonmaynard2402]

I hate being the nay-saying negative guy but please allow me to retort: You have posted several videos about companies and founders that turned out to be frauds and scams. One thing they all had in a common was flash over substance; sizzle over steak; pitch over plan. A business plan (admittedly laborious and time-consuming) forces you to answer questions you haven't yet asked. To be successful, you need those answers. "Because if all we come at him with is a plucky attitude..."

[@irvingandralphandchester5220]

Instead of a business plan, I want to know about only one thing: What are you going to disrupt and how are you going to do it. In 1984, my disruption plan was something like "Undercut my old company and help my clients migrate to newer technologies"

[@isabellaarmond9244]

I believe that Bitcoin holds value as a form of 'good money' that is superior to any previously discovered or developed form of money. The long term goal about trading here I'd majorly process oriented goal, protecting the trading capital, starting off with free cash and putting yourself in the right mindset to trade to the best of your ability as a business owner. Then for short term goals, monetary goal would only pressure you into trading too often or recklessly. The process of ensuring huge wins/profit and experience got me the confidence of a true risk monitor/enterpreneur.

[@ousmanedoucoure9384]

In fact the best argument is that in a rapid changing world we should use iterative solutions rather than a business plan which is fixed but not real at all. Being lean and agile as a business is the key to startup success now.

[@ironwelder480]

so if I don't write a business plan, how am I suppose to get grants? its a requirement.

[@Knowledge_Nuggies]

Nah, if you cannot summarize your business in 5 pages, you don't understand your business. It's a crucial exercise. :>

[@jesseforrester9231]

Been a fan since 3k subs haha. It's funny how you realise the various streams of income and products that you could launch once you have your first MVP that's market-tested.

[@slidebean]

How lovely! Thank you for your support!

[@tonya2583]

I do understand what you're saying but writing a business plan for funding is needed is required and most startup business needs to acquire a loan for their business so they have to write a business plan.

[@LaNeona]

YOU ARE SO GREAT. Thank you for this.

[@slidebean]

Glad it was helpful!

[@MrDp90]

Alignment issue on the questions one should answer for B2B on “How much money...”. I take your videos very seriously. 👍

[@slidebean]

We appreciate that!

[@paolocelleri2333]

I wish this video had been available 6 months ago LOL .... very useful and time saving !! thanks

[@slidebean]

lol... never too late! Thank you for watching!

[@pietwitten640]

I love te pitchdeck idea,but still a bplan is necessary. There's no way around the effort and hard work. From a 20 page business plan you can narrow it down to a pitch deck.

[@rorronoazorro6107]

Great job man ! Thank you so much

[@growing.flowers]

Wow thanks so helpful, id been overthinking my lil business plan its repulsing me from doing anything and making any progress!

[@Sorioku]

This guy is cool. Actually talks like he's talking in real life and no on some commercial trying to sell you something, even if he might be.

[@TheBlueArcher]

definitely wasted time on a business plan before. most communication is done verbally and with Q&A anyway, a pitch deck seems like it would be more fitting and useful in that setting as well.

[@jelbertrobles7875]

Another awesome video😍. Hope Caya and slidebean can make a video about how much funding needed to build a start up from the begining on making the app up to the 1 year operation expenses. Also the software engineering team needed on its first year operations. God Speed

[@slidebean]

There's already a series on startup funding you can check out here!: kzbin.info/www/bejne/iJnSaoaVg9Nqj6s Also, you're welcome to join Caya and other founders on Discord to discuss further: slidebean.com/startup-cafe

[@abubakarnura9766]

Where does a Business Plan then comes in Place? After a successful pitching to an investor and a landing that investment?

[@slidebean]

Hi! Good Q! If a bank or a Government agency, for instance, is requesting a business plan, that's what you have to provide!

[@coinparadise1]

Great project i really enjoyed it,and i know that your next project will also be great

[@slidebean]

Thank you!

[@Jabroni181]

So say we build a landing page... question one is: how do we get people on it to see if they like it? -- fb/google ads? if so whats the spend?. and question 2 is: what do they do when they get to the site -- do we set it up like a regular site, they click buy and then we say "sorry this was just a test"? let me know thanks.. maybe make a video on it? -- cool channel by the way!

[@slidebean]

Good Q! Welcome to discuss with other founders or Caya on Discord slidebean.com/startup-cafe

[@mikejaques4702]

We are waiting. It will be interesting for sure

[@slidebean]

Thanks!

[@ribe3434]

Another great video. Thanks.

[@slidebean]

Thank you for watching!

[@RamKumar-iz2sz]

I really want to thank you for tbe pitch deck templates. It's super cool

[@slidebean]

We're glad they helped!

[@joshuapatrickmejos6465]

One of the best videos that you guys made! Thank you!

[@slidebean]

Wow, thank you! Glad it was useful!

[@kevinmusundi1291]

Thank you for the content. I learned so much from it

[@slidebean]

Glad it was helpful!

[@mohamadalasadi4682]

Hey Caya, would investors not ask to see a business plan after the pitch desk?

[@MuditaWisdom]

I’m assuming a pitch deck is something to have to form all your ideas on one paper but I still think a plan is needed, to show that you did your homework and there putting their money in someone they know has a plan

[@erasmocierra3276]

Lean startup si a must for any startup

[@drelixcomics]

Bro , You just saved me thousands of dollars - Thank You (You just earned a sub)

[@jakevarkey]

I think this channel doesn't get shared as much as it does because most people consuming this content view this as competitive advantage, thus, won't share it.

[@vareesbasha4576]

Happy to see guys at qurantine #staysafe ❤u guy's ❤slidebean #slidebean

[@slidebean]

Stay safe!

[@waseemgad3581]

good job you all ... i learned a lot since i started watching your channel

[@apron_studios]

one question no one ever answers is: how to throw traffic in your idea. I would love to get feedback, but how do you reach people?

[@jj-bu6yb]

You are very gifted! I look up at you as role model

[@guillermorojasc]

What if my Idea can apply to B2B and B2C as they both can both use my product?. Saludos desde Panamá.

[@slidebean]

¡Saludos, Guillermo! Estamos seguros que, aún así, te recomendaríamos un pitch deck. Eso sí, estamos conscientes de que algunas entidades (como bancos o instituciones de gobierno) te pueden pedir un business plan. ¡Todo dependerá más del contexto que de tu tipo de cliente!

[@MoLtenMetaL7]

What is the investor asks explicitly for a business plan?

[@bigheartsmolpen]

This background music is a gem.

[@JettCrocodile]

I have to my dude my Business is a huge business.

[@inferno2502]

This is amazing , Thank you for this . Great video !!!

[@slidebean]

Glad you liked it!

[@vickdeem]

May God eternally bless you for this insight

[@freshfocusdigital]

Love this from Nigeria

[@mawas6801]

I do agree with a lot of things but I don’t on some e.g everything is based on assumptions, not quite there is or has to be concrete data to back up Second, you can’t jump onto an MVP if you don’t have documentation which could be a part of the business plan. So biz plan isn’t all unnecessary though shouldn’t take long time

[@slidebean]

Thank you for your comment! Interesting!

[@mawas6801]

@@slidebean thought u might be offended lol

[@TaiChiInternational]

This is quite good! Thank you so much!

[@nyashab4276]

Thank u so much. Very clear and practical.

[@PomegranateChocolate]

I like this channel. Can you tell me is there any reason you name your company Slidebean?

[@jermaineismael2491]

What if there is no second chance? What if you have a tight budget? This is just like going to war without a plan. When you fail.. you're dead! Planning still makes unnecessary mistakes and can save you time.

[@zoiiskarpt1593]

Thanks i appreciate your channel

[@GoliCraft]

I wish I watched this video a year ago. Thanks for the great content as always :))

[@mariontinio8667]

A new framework I read about is Sell-Demo-Build to validate and sell the product before spending time building it. What do you think about this?

[@desireco]

This is weird, I am scheduling to watch youtube videos :) but totally worth it!

[@slidebean]

Awesome! Thanks for watching!

[@ryotanada]

Interesting vid, actually. Just a couple years ago I was taught about business plans in college...

[@slidebean]

Thank you!

[@gilberttorres8]

So do a marketing research first then write your plan?

[@justgaming3794]

All the best, Caya

[@slidebean]

All the best to you as well!

[@sulaimansamodien7780]

really liked this video thanks guys

[@slidebean]

Thank you!

[@aaronmrobertsjr4164]

4Dang ! This is a gAAmeplAAner vid!

[@puneethkumarhs4367]

Please make a video of, How to run an MVP?

[@slidebean]

Thanks! This video explains the lean approach in general. You can read the article here: slidebean.com/blog/startups-how-to-write-a-business-plan

[@nathanielblanchard3002]

Thanks for all the knowledge :)

[@slidebean]

Thank you for watching!

[@thedelanyo]

Thanks Sir

[@xXDado88Xx]

if you do not have an initial capital how can you get money to start working on your startup ? your speech only applies to people who have some money to start with.

[@laffiesacademy]

Hi This comment might be a bit outdated. I do enjoy your video and it gived me simething to think about, but i do nit really agree. I think that you are missing the purpose if the bimusiness plan and the reasearch stage before finalizing and compiling a business plan. I also think that yiu are basing everything on an assumptikn that a business plan needs to be lenthy. Fail to pln and plan to fail... a business plan does not need to be a 40page doc ... a business plan is a plan of yohr business, you do not need to conform to standard practices and headings within a plan but therr still needs to be a guide. You are basicly explaining the research and develoment stages .. this is a section within a plan ... Business plans are allowed to change ... and they should changebas your business grows and you learn new things ... I say write the business plan, develop a plan that works for your own situation and keep it relevant to your industry ... Anyway ... i think we actually agree kn maby of the same points, we maybe only explain it differently. Keep well, regards

[@vijayadurgakoppisetti3120]

Bgm is interrupting the speech audio

[@muzamilahmed3127]

I have wasted about 3 months on business plan.

[@slidebean]

Hope this video helps saving some time now!

[@natgenesis5038]

Hello how you made this presentation

[@mohamednathar2894]

Wonderful bro

[@slidebean]

Thank you so much 😀

[@highersteps8357]

Thank you ....this is great information

[@slidebean]

Glad it was helpful!

[@fideletinosa3716]

Awesome video

[@DJParkeriDreamCEO]

Your videos are like YC 3.0

[@slidebean]

Thank you!

[@dera_ng]

If you fail to plan, you plan to fail 😒... On the bright side, you reply your KZbin comments 🤔🤔🤔🤔.... Impressive 🙂.

[@slidebean]

🤔