Startup Series (Part 3): Where’s your business plan?

Relax. We would never ask that question. Why? We just don’t believe in writing business plans – especially not web or mobile products of any kind. The reasons are simple:

• Your plan will be full of assumptions. Most of which will be wrong.
• Any time you spend writing a plan is time that could be better spent working on your product or customer development.
• Even when you try to raise money, the plan doesn’t really make a difference to investors.
• Planning is not doing. That’s not good when you have limited time to spare (we all do).

A few other things we don't care about:

• A great logo doesn’t matter and neither does amazing visual design.
• Feature lists are – usually – boring. They don’t tell us much about how you think about what’s really important… and that is: who is the customer? Why does she really need your product? How are you planning to deliver a BETTER product?

So, what kind of documentation can be useful when you come see us? We like to see wireframes or concept drawings focused on the core user experience. So, if you are a “mobile coupon start-up” – we’d really love to see how you think about the core user experience. How does an actual customer move through the application? What are the exact steps you lead them through? How does your product clearly solve the problem? Those things are important to us.

It’s also nice to see the core business model – in visual format. All that stuff about how you will make money and some ideas on how you will convert customers.

Passionate entrepreneurs: Send us your napkin ideas. Let’s get to work!