1. A business plan is valuable for testing your business model, communicating your value proposition, and building investor interest. However, it should not be the starting point or overthought. 2. Focus initially on establishing your value proposition through customer discovery and tools like the business model canvas before developing a full business plan. 3. An investor wants to understand the problem being solved, the solution, value created, barriers to entry, markets and competition to evaluate the opportunity and risks. Address these issues clearly in any materials developed.