Everyone has different experiences and needs, but I'll tell you my experience:
1) Most investors of internet startups don't ask to see a business plan. Maybe half want a short (1-2 page) narrative about the business-- an executive summary.
2) I've written formal business plans for two businesses in the past and they sat on the shelf collecting dust thereafter. In 6 months they were sorta obsolete. In 12 months they were freakin' hilariously wrong. New companies change to fast to do that much formal planning.
A good investor will recognize that. They won't ask for a business plan-- but they will ask a bunch of hard questions to make sure you've thought about the important issues.
1) Most investors of internet startups don't ask to see a business plan. Maybe half want a short (1-2 page) narrative about the business-- an executive summary.
2) I've written formal business plans for two businesses in the past and they sat on the shelf collecting dust thereafter. In 6 months they were sorta obsolete. In 12 months they were freakin' hilariously wrong. New companies change to fast to do that much formal planning.
A good investor will recognize that. They won't ask for a business plan-- but they will ask a bunch of hard questions to make sure you've thought about the important issues.