Are business plans dead?

The answer to this question can’t be a straight NO or a resounding YES.

I won’t just say no because we sell business plan software.

But does that mean business plans are obsolete? Not exactly.

(You: Wait, what? Stop the confusion! 🙄)

Sorry for the confusion. Let me clarify.

Alright, let me clarify. Business plans aren’t dead—they’re evolving.

The fact that we make a living helping people write business plans is evidence enough that they’re still relevant.

But….

I also see businesses raising millions without having a traditional plan.

(I didn’t say they didn’t plan at all, they just didn’t stick to the standard business plan format.)

So here’s my answer.

Your plan needs to be flexible.

You don’t need to stick with the traditional, 40-page plan format.

Your plan can go up to a hundred pages or can be a concise one-page document.

The goal is to create a plan that resonates with your audience.

But how do you decide the format, length, and sections?

Here are a couple of pointers to help:

1) Understand the purpose of your business plan

The purpose of your plan dictates its structure.

If your purpose is to secure SBA grants, bank loans, or VC funding, a traditional business plan is still the way to go.

But if you need a document for quick idea sharing or initial pitches to angel investors, a one-page plan would do.

Similarly:

• For team alignment and resource management, consider an internal business plan.
• For long-term goal setting, a strategic plan works best.
• For expanding operations or entering new markets, a growth business plan is ideal.

Hope you got the point.

2) Know your investors

Every investor is unique, so tailor your plan to match their expectations.

Learn what aspects of your business they care about most and emphasize those areas.

For instance, some investors might not have the time or interest to go through a lengthy document—they just need to feel confident about your product.

In that case, you won’t need your plan to be 40-50 pages long.

To conclude, Business plans aren’t dead, but they’re no longer one-size-fits-all.

Agree that a traditional business plan doesn’t drive results for everyone, but it’s still a critical document in the business world.

If a certain format doesn’t work for you, the question shouldn’t be whether business plans are dead, but whether you’re using the right format.

That’s why we’re here. To help you find the right course of action.

Upmetrics helps you create lender-ready business plans, investor pitch decks, accurate financial projections, and long-term strategic plans.

The range of planning tools in our workspace ensures you’re creating a plan that’s flexible, lender-ready, and aligned with today’s evolving standards.