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Business Plans for Startups: Are They Really Necessary?

by Eapen Chacko and Brent Goldfarb • October 31, 2016

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Eapen Chacko and Brent Goldfarb debate whether founders need a formal business plan before raising money and building a new venture.

For a new venture, a business plan is an essential part of attracting investment and ensuring success.  Or is it? In this spirited discussion, reminiscent of "Point/Counterpoint," Eapen Chacko of GrowthFire, LLC, and Brent Goldfarb of the University of Maryland argue both sides but part friends.

 

Eapen Chacko
Eapen Chacko
Advisor / Queblo, Inc.
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Brent Goldfarb
Brent Goldfarb
Professor / Robert H. Smith School of Business / University of Maryland
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David Deeds
David Deeds

Cite this Article

DOI: 10.17919/X90P4W
Chacko, E., & Goldfarb, B. (2016, October 31). Business plans for startups: are they really necessary?. Entrepreneur & Innovation Exchange. Retrieved September 9, 2026, from https://eiexchange.com/content/business-plans-for-startups-are-they-really-necessary
Chacko, Eapen, and Brent Goldfarb. "Business Plans for Startups: Are They Really Necessary?" Entrepreneur & Innovation Exchange. 31 Oct. 2016. Web 9 Sep. 2026 <https://eiexchange.com/content/business-plans-for-startups-are-they-really-necessary>.