Powerpoint trumps word docs

I recently wrote a post about how the text-based business plan is obsolete, and entrepreneurs should focus on their presentations instead. The NY Times (May 14)  underscored that notion yesterday:

“Go ahead and write that 50-page business plan about your fledgling venture if it helps you to focus. Just do not bother showing it to venture capitalists, because it will do nothing to improve your chances of getting financing. That, The New York Times’s Brent Bowers writes, is the surprising conclusion of a new study by researchers at the University of Maryland’s business school. … ‘Nobody is going to read them.'”

..Jeff Fagnan, general partner of Atlas Venture in Waltham, Mass., which provides seed money for young businesses, said he agreed with the study’s main premise. …Rather than reading a report, he wants to hear the evidence in PowerPoint slides, white board presentations or “somebody just talking.”

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