Business Plans Are Crap, Without Market Research

In talking to a bunch of people about start-up business ideas, they always talk about your Business Plan.

I find this so lazy it's funny. They should have asked, where's your market research? Because a business plan without that is useless.

If I were ever going to give someone advice about a business I would first ask what's your Business Abstract?

  1. What do you want to sell?
  2. How much will you make per sale?
  3. How much will it cost you to get 1 customer, time/dollars?
  4. How much money do you want to make per month?
  5. What research have you done to to support this market?

I think I have always balked when people asked for a business plan because I thought to myself, how can I give you a plan when I am still figuring out my market. Do you want me to give you some BS? Now I can qualify that, by asking, why do you want a plan with no market research?