Most venture capitalists won't read a business plan unless the entrepreneur is introduced to them by a contact.
Sentiment: NEGATIVE
People come in with business plans and, I mean I know that no one is going to meet everything they say in a business plan but you got to have something to, to guide towards.
There's one thing I've learned about entrepreneurs' business plans. Every one is wrong.
I don't think a lot of people have been entrepreneurial about venture capital.
Most people end up owning a business by accident. Therefore, they don't usually have a thought process and a strategic plan in place.
Not many venture firms have people whose job is to read academic research - on startups, ventures, and entrepreneurs - and gather knowledge from that.
A lot of people who own a business aren't entrepreneurial at all.
We now understand the distinction between startups - who search for a business model - versus existing companies - that execute a business plan.
Founders go wrong when they start to believe their business plan will materialize as written. I advise entrepreneurs to burn their business plan - it's simply too dangerous to the health of your business.
I've never had a business plan. Every project we've ever done was the intersection of somebody with a real need, a real passion to do something, and hustling.
Venture capitalists don't pay attention to you unless you have an app or a widget.