One of the occupational hazards of working for a VC firm is that you need to go through business plans of every kind. This is especially true of the space in which my fund operates. Early/seed stage deals. This (irrelevant business plans) could arise due to various reasons and we shall not get into that now. This post refers only to those who are making business plans for the purpose of fund-raising. Let me get straight to the point.
What is a business plan? I think most people refuse to ask this question when they start building out one. It is a set of well-accepted business jargon that people continue to use and reuse. Wash. Rinse. Repeat. A business plan, in my opinion, is a document created for a certain purpose detailing the core aspects of the business addressing the basic questions of what, how, why, who, when and a few other purpose-relevant questions.