Business Plans for Startups: Are They Really Necessary?

Eapen Chacko and Brent Goldfarb debate whether founders need a formal business plan before raising money and building a new venture.

For a new venture, a business plan is an essential part of attracting investment and ensuring success.  Or is it? In this spirited discussion, reminiscent of "Point/Counterpoint," Eapen Chacko of GrowthFire, LLC, and Brent Goldfarb of the University of Maryland argue both sides but part friends.