Business Plans

http://www.pehub.com/36689/study-finds-business-plans-a-waste-of-time/
I've heard this before, from some of the VC blogs I follow. They use the plan as a filter for people they don't know. Same for angel investors. I think they understand that the plan is only good until you open your doors, and then you have to adjust as you go, making the plan fairly obsolete fairly quickly.
In Art of the Start, Guy Kawasaki says there are 5 things you MUST accomplish as an entrepeneur:
1) Make Meaning
If you're ogarnization never existed, the world would be worse off because _________________________________
2) Make Mantra - as opposed to a mission statement
In 10 words or less write your organizations mantra:
3) Get Going
Just go do it. Now please :)
4) Define your Busines Model

1. Calculate your monthly costs to operate your organization
2. Calculate the gross profit of each unit of your product
3. Divide step 1 by the results of step 2
4. Ask a few women if you have a chance of selling that many units. If you don't , no business model

5) Weave a MAT - Milestones, Assumptions and Tasks
Okay, this is a big section.. buy the book!