Most helpful critical review
on July 10, 2001
This book is far from complete. It has some very basic information about creating a business plan, asks you pertinent questions regarding creating your plan, and has 11 pretty poor examples.
I originally bought the book for a Business Plan Writing Class. It was a new book for the instructor and he abandon using it after the second week. It does not provide details in any area of business planning, and though it asks you questions to get you thinking in the correct way, does not provide guidance on how to answer the questions or what areas are important for different types of plans. Furthermore, the questions are not structured in a way that actually helps you formulate a useable business plan. The “101 questions” remind me to a employment application or high school written exam.
One of the reasons the instructor selected the book was for the examples. Upon closer examination however, they are really bad business plans that do not provide the depth required in the "real world." The plans are very simplistic. They might pass for someone getting an SBA loan or for internal management use, but a VC or other sophisticated financier would immediately throw any of these plans away. Even the formatting of the plans are bad; they look like they were written on a typewriter twenty years ago!
The book offers little to no advice on how to write your plan for different target audiences, what elements are important for different types of businesses, and because its examples are so incomplete, they give someone without prior exposure to business plans a false idea of what your financier is really looking for. ...