Yes. The purpose of writing a business plan is not to please some VCs, but to really build a deep understanding of your business and build team consensus around what the vision is.
”VCs absolutely pay attention to the executive summary…Writing a full business plan helps you conceptualize all of the nuances of your business and this understanding is crucial in helping you succinctly articulate your startup’s unfair advantage.”
The process of writing a plan is what creates value, because
- The process creates a common starting point for the entire team
- The process sets the goals and vision for the team
- The process sets the path and identifies required resources
- Writing the plan forces analysis
- The process can help the team feel more confident about their ideas and strategy
What you think, is B-Plan is necessary ?. As there are many hitech products that started off without B-Plan, but later created b-plan.