Definitive Business Plan, Second Edition, The

Introduction to the Second Edition

The business plan was flawed

In the three years that elapsed between editions of this book, a record number of business plans were approved. These plans received a record amount of funding. Unfortunately, a record number were very soon seen to be flawed. Why did this happen? What was going on? And what lessons can be learned?

This was the era of the dot com boom and bust. It was just starting when the previous edition of this book went to the presses at the end of 1998. In the months that followed, thousands of dot com Internet businesses were established. The excitement was reminiscent of a gold rush or explorers setting off for a New World rumoured to be filled with unbelievable riches. Venture capital providers ...