At this stage - building the first version of the product is more important than writing a business plan. You don't want to change priorities because of some contest. Successful start up is more important than wining a beauty contest.
If you can build something that a few people find valuable then you can start thinking about business plan to scale it further... Without the basic product, there is no business and there is no need for a plan.
Of course, all this is based on the assumption that the first version can be built very fast without incurring any significant cost.
Comments
At this stage - building the first version of the product is more important than writing a business plan. You don't want to change priorities because of some contest. Successful start up is more important than wining a beauty contest.
If you can build something that a few people find valuable then you can start thinking about business plan to scale it further... Without the basic product, there is no business and there is no need for a plan.
Of course, all this is based on the assumption that the first version can be built very fast without incurring any significant cost.