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Study Finds Business Plans a Waste of Time

This is a fascinating study. It basically says your business plan doesn't matter for fundraising. Why is this? Not surprisingly, venture investors invest in people not plans. So your connections matter more than your plan or your idea.
But this is a problem. The venture success rate is so low because traditional methods lack quantitative tools and techniques to evaluate addressable markets and validate solution ideas. Thus the pervasive "fail fast" technique.