You don't have to have a written business plan!

I want to be clear here - you don't have to have a written business plan to be successful in life. Sportsmen like Tiger Woods, Pete Sampras, Shumacker, Sachin Tendulakar or showbiz successes like Madonna, Tom Cruise, Amitabn Bachan or politicians like L.K. Advani, Obama etc. you name it - am sure didn't have a written business plan to become successful. I would agree some of them might have had professional managers or advisors to manage their ongoing businesses, but not until they figured it out.


However, you need to have a strategy - a plan to win. It could be written or it could be in your mind - but you gotta have it. You need to think about it. You can raise money if you can successfully convey your talent or ideas in some form of communication - need not be a business plan. But, in the business world, business plan has become a norm of communication - your idea to create wealth, how you are going to implement your idea, who will be with you etc. If you can successfully do this with 6-10 slide presentation, go for it. If you can do this over a whiteboard, go for it! But you gotta have it.