It is widely believed that writing a business plan is a waste of time, because: 1) very few people will read it, and 2) you’ll end up changing it along the way. This is all mostly true.
However, before you commit yourself to working on a project for 5+ years, it’s prudent to think hard about what you are trying to build and some of the things that might go wrong. For many people, writing out a detailed business plan is the best way to enforce intellectual rigor.
My cofounders and I wrote a fairly long business plan for our first company, SiteAdvisor. We wrote it iteratively while getting lots of candid feedback from entrepreneurs, VCs, and industry executives (one of many reason you shouldn’t keep your idea secret).
I thought it might be useful to share our plan so I’ve embedded it below (at the time, we were temporarily calling the company InfiniTrust). MORE