Why Startups should NOT write a Business Plan

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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 In this video, we are going to look into why the business plan is an outdated way to approach starting a business, and how new frameworks like The Lean Startup are a much more effective way to build companies.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...
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15 апр 2020

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Комментарии : 215

@slidebean 4 года назад

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 RU-vid Channel: Two weekly videos about all-things startups and more ru-vid.com 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 4 года назад

Your RU-vid channel is Indian students favourite channel...all Indian entrepreneurs are talking about your work.

@gsusmakama 3 года назад

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 3 года назад

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 4 года назад

The most underrated guy on youtube.

@slidebean 4 года назад

Thank you for watching!

@olukunleakinola7133 3 года назад

Honestly. I like his delivery.

@jorrpatel238 3 года назад

180K is not underrated 😂

@PGar58 3 года назад

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 3 года назад

@@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 4 года назад

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

@slidebean 4 года назад

That's awesome! Thank you!

@winstonidiliopetersnavarro3442 3 года назад

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

@puneethkumarhs4367 4 года назад

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 4 года назад

Thank you so much!

@brunorousseau6337 4 года назад

This is one of the best RU-vid Channel I have seen in years. Well done

@slidebean 4 года назад

Thank you for watching!

@rightright6582 3 года назад

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 2 года назад

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 4 года назад

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 4 года назад

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

@muhammadkevinmatondang3653 3 года назад

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

@camiloguzman1801 3 года назад

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.

@12819421 3 года назад

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

@milenatos Год назад

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

@masterstepz9800 3 года назад

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.

@bishalchanda2223 4 года назад

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 4 года назад

Thank you for watching!

@Akshatgiri 4 года назад

One of my new favorite channels. Straight value. 👌

@slidebean 4 года назад

Thank you for your comment! Glad it was useful!

@arifartista 4 года назад

The most underrated channel on RU-vid yet with another great content. Thumbs up guys!

@slidebean 4 года назад

Wow, thanks! You're the best!

@europec2082 4 года назад

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

@paulbampoe8697 4 года назад

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

@slidebean 4 года назад

Thank you so much, Paul!

@karlmakongo9592 2 года назад

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

@puneethkumarhs4367 4 года назад

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 4 года назад

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 4 года назад

Tqsm😊

@washingtonradio 4 года назад

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.

@waseemgad3581 3 года назад

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

@joshuapatrickmejos6465 4 года назад

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

@slidebean 4 года назад

Wow, thank you! Glad it was useful!

@adamlouly6604 4 года назад

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

@slidebean 4 года назад

Thank you, Adam!

@CRVB7 4 года назад

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 4 года назад

Wow, thanks!

@RamKumar-iz2sz 4 года назад

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

@slidebean 4 года назад

We're glad they helped!

@inferno2502 4 года назад

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

@slidebean 4 года назад

Glad you liked it!

@nyashab4276 3 года назад

Thank u so much. Very clear and practical.

@jj-bu6yb 3 года назад

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

@kevinmusundi1291 3 года назад

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

@slidebean 3 года назад

Glad it was helpful!

@williamnjau3987 4 года назад

This is a masterclass. Thanks, Man!

@slidebean 4 года назад

You're very welcome!

@rolande5043 11 месяцев назад

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

@TaiChiInternational 3 года назад

This is quite good! Thank you so much!

@EGTGUY 4 года назад

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 4 года назад

Thank you for watching!

@VitoD226 2 года назад

They have different uses

@imnobodywhoareyouu 3 года назад

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

@growing.flowers 2 года назад

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

@LaNeona 3 года назад

YOU ARE SO GREAT. Thank you for this.

@slidebean 3 года назад

Glad it was helpful!

@zoiiskarpt1593 Год назад

Thanks i appreciate your channel

@paolocelleri2333 4 года назад

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

@slidebean 4 года назад

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

@drelixcomics 3 года назад

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

@nathanielblanchard3002 4 года назад

Thanks for all the knowledge :)

@slidebean 4 года назад

Thank you for watching!

@coinparadise1 4 года назад

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

@slidebean 4 года назад

Thank you!

@jelbertrobles7875 4 года назад

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 4 года назад

There's already a series on startup funding you can check out here!: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Rho9S_Nn7YI.html Also, you're welcome to join Caya and other founders on Discord to discuss further: slidebean.com/startup-cafe

@angcil88 4 года назад

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 4 года назад

Thank you for watching!

@KOSMOinfinite 4 года назад

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.

@ribe3434 4 года назад

Another great video. Thanks.

@slidebean 4 года назад

Thank you for watching!

@MassiveSuccessVids 4 года назад

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 4 года назад

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!

@GoliCraft 2 года назад

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

@highersteps8357 4 года назад

Thank you ....this is great information

@slidebean 4 года назад

Glad it was helpful!

@sulaimansamodien7780 4 года назад

really liked this video thanks guys

@slidebean 4 года назад

Thank you!

@MrDp90 4 года назад

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

@slidebean 4 года назад

We appreciate that!

@mikejaques4702 4 года назад

We are waiting. It will be interesting for sure

@slidebean 4 года назад

Thanks!

@thedelanyo Год назад

Thanks Sir

@irvingandralphandchester5220 3 года назад

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"

@officialgladdalungstriedthat 2 года назад

Love this from Nigeria

@mariontinio8667 3 года назад

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?

@fideletinosa3716 3 года назад

Awesome video

@PomegranateChocolate 3 года назад

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

@epiemabricenjume3860 4 года назад

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 4 года назад

Thank you! Sounds great! Email us at marketing@slidebean.com to see how we can help 🙂

@bigheartsmolpen 3 года назад

This background music is a gem.

@dr.j5367 3 года назад

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 3 года назад

Thanks for your remark!

@pietwitten640 2 года назад

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

@isabellaarmond9244 3 года назад

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.

@Sorioku 3 года назад

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.

@mohamednathar2894 4 года назад

Wonderful bro

@slidebean 4 года назад

Thank you so much 😀

@ironwelder480 3 года назад

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

@vickdeem Год назад

May God eternally bless you for this insight

@desireco 4 года назад

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

@slidebean 4 года назад

Awesome! Thanks for watching!

@erasmocierra3276 3 года назад

Lean startup si a must for any startup

@ousmanedoucoure9384 3 года назад

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.

@VORTEX___ 3 года назад

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.

@JettCrocodile 2 года назад

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

@ryotanada 3 года назад

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

@slidebean 3 года назад

Thank you!

@guillermorojasc 3 года назад

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

@slidebean 3 года назад

¡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!

@mohamadalasadi4682 3 года назад

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

@MuditaWisdom Год назад

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

@MoLtenMetaL7 Год назад

What is the investor asks explicitly for a business plan?

@jesseforrester9231 4 года назад

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 4 года назад

How lovely! Thank you for your support!

@abubakarnura9766 4 года назад

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

@slidebean 4 года назад

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

@pietwitten640 2 года назад

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.

@lazygenius6143 3 года назад

the best one i found😀...

@slidebean 3 года назад

Thanks!

@TheBlueArcher 3 года назад

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.

@vareesbasha4576 4 года назад

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

@slidebean 4 года назад

Stay safe!

@justgaming3794 4 года назад

All the best, Caya

@slidebean 4 года назад

All the best to you as well!

@natgenesis5038 3 года назад

Hello how you made this presentation

@miguelbrunolucas7199 3 года назад

Amazing

@Jabroni181 4 года назад

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 4 года назад

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

@puneethkumarhs4367 4 года назад

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

@slidebean 4 года назад

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

@jermaineismael2491 5 месяцев назад

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.

@vijayadurgakoppisetti3120 3 года назад

Bgm is interrupting the speech audio

@william_8844 4 года назад

I can attest to that

@slidebean 4 года назад

Thank you for watching!

@Knowledge_Nuggies Год назад

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

@tonya2583 2 года назад

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.

@yangangudle 4 года назад

here!

@slidebean 4 года назад

Thank you for watching!

@aaronmrobertsjr4164 2 года назад

4Dang ! This is a gAAmeplAAner vid!

@gilberttorres8 2 года назад

So do a marketing research first then write your plan?

@jakevarkey 2 года назад

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.

@apron_studios Год назад

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?

@mawas6801 4 года назад

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 4 года назад

Thank you for your comment! Interesting!

@mawas6801 4 года назад

@@slidebean thought u might be offended lol

@lexie02jones25 4 года назад

i agree

@slidebean 4 года назад

Thanks for watching!

@TheKiller2064 4 года назад

Caya, ill be great to translate all the knowledge on startup 101 into Spanish!

@antonbrams_io 4 года назад

i can't understand, how you can still survive without english :) 2020 outside babbeeeee

@TheKiller2064 4 года назад

@@antonbrams_io Outside of what? you see that from your point of view, but the main point here is that the startup series could reach even more people!

@antonbrams_io 4 года назад

@@TheKiller2064 2020 on streets. You can translate this video, but not the rest of the english speaking youtube. English is a door to the rest of the world.

@justgaming3794 4 года назад

@Carlos, Caya have an discord where we can talk to him or slidebean directly. You can tell him there

@slidebean 4 года назад

Hi, Carlos :) Our videos are open for community translation. Some of them have been kindly translated by our viewers already but we're slowly working to have more available! Thank you for your suggestion!

@omfo676 4 года назад

How to design business ideas to write how

@slidebean 4 года назад

Hi, Mohd! Here are a few reads: slidebean.com/blog/startups-starting-a-new-business slidebean.com/blog/startups-how-to-start-a-business-in-2020 slidebean.com/blog/startups-innovative-startup-ideas Hope these answer your question :)