No, you don’t need that business plan anymore – not the way you think. It’s old-fashioned. It’s rarely used. Not a single Investor will read it. Those business plans are too wordy and convoluted, and take too long to write.

Instead, consider these modern alternatives:

Extended pitch deck: Provide an extended version of your pitch deck, with an additional slide in each appendix addressing a possible question an investor might have. Think of this as a proxy for a full business plan.

Investment memo: If you have a complicated market or need to convey information that doesn’t translate well into a pitch deck (like data that requires charts), create a short investment memo (3-5 pages, max 10). Summarise your momentum, your story, and key points into as few pages as possible while keeping them interesting. 

For pre-seed, stick to the basics. A one-pager is all you need, but also be ready with the below if asked:

• Short financial forecast

• Detailed bios of key team members

• Technology sketches or infrastructure details

• Demo or prototype walkthrough

• Detailed financial model

Remember, the point is to make it clean and compelling. Save the deeper dive for later. If you have a business plan, use it for yourselves. Make your deck and any other collateral materials easily readable and engaging. That approach better fits modern-day investors, and it will make raising money more efficient for you.