[gatsby]

Formal business plans (at least for internet or saas companies) are wildly over-rated and increasingly unnecessary.

They may provide more value in other industries (I have no/limited experience outside of internet/software).

Prototyping is so easy, quick, and inexpensive.

Why spend a week or two on a business plan when you can spend a week putting up a landing page, driving some ads at it, and then definitively get some data points on, "do people want what I'm about to do?"

[dilemma]

The business plan is what you put together after you have a validated product. It is necessary in all businesses.