Business plans are like resumes. A resume will never ever get you a job. Most resumes are only looked at for only 10-12 seconds before a hiring manager or recruiter makes a decision to trash it or save it. At best, a resume gets you the first interview; after that, it's all up to you.
Paul Freet has a good piece of advice over at Big Thinkr: quit writing your business plan and focus on your product. I couldn't agree more. Writing a business plan is a long, arduous process that's never done. It sucks up the most valuable resource you have - time. It's much more impressive to actually build something than to waste a lot of paper describing what you want to do.
I'm not saying you should never write a business plan. A potential investor may want one. It's a good thought exercise that makes you think through all aspects of your business. Just make sure you're doing it for the right reasons and not because you think it's a gold ticket to the world of angel and venture capital.
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