First. Good luck at RAGBRAI. Hope you have a blast!

On your question . . . I think that VCs generally don’t have the patience to wait while companies that come to them get their business plans going. They make a call on whether the potential investee has something worth investing in or not. If they do, they give them money, if they don’t, they punt. They get to see so many plans that nurturing one along is not really they’re sweet spot. Of course, they won’t tell you that

Brad Feld recently had a post on getting to “no” as quickly as possible. Given that, it’s hard to see a business there. But I could be wrong . . .

Hope that helps.

Often times when we create web strategy and execution (WSE) plans for companies, we produce a document that ranges from 15-30 pages and often contains more “business plan” than the owners have ever created on their own. We ask many questions and do an abbreviated but focused dive into their brand, constraints, markets, sweet spot customer, etc…all in an effort to help the company learn to listen and participate in the “web world” to grow their businesses. Thus, in many cases our WSE plan becomes the most well thought out and strategic piece of the business equation. In my start up life having been mostly unsuccessful in obtaining the bucks, I’ve asked the rejecting parties for mentoring so I don’t make the same mistakes again. But now that we’ve been in the WSE business and NOT in the business of asking for funding…I wonder if VC types are even asking the kinds of questions we are and whether businesses are including robust web strategies in their plans? We assume that “tech” companies are skilled at becoming findable, engaging, telling their story online, and having clear web goals in mind. But I’m guessing that assumption is incorrect.

What say you? Should we be consulting with VC and Angel Groups for good sums to ensure that a comprehensive business plan is being created and key areas aren’t being overlooked? Hummmm.