Glen - good summary.
The "business plan for the bankers" is one I run into a lot. When I did (tried to) my first few business plans (not just for consulting) I quickly got bogged down in non-essential details that weren't relevant but that every "best practice" seemed to say was necessary for a business plan.
What I only learned later is that there is no rulebook when it comes to business plans and, yes, there are different things expected (by others, for different purposes) if your writing a document for outside scrutiny.
The thing is, this isn't the reason why everyone needs to write a plan. First, you should write it for YOURSELF (and, if you have 'em, your partners). Once you get past what others expect in a business plan, it actually becomes a pretty useful document. (But don't ignore what others think should be included... it'll provide some guidance about what you think be thinking about when you're just getting started... or looking to expand... or taking on a partner... or realizing you aren't where you'd hoped yet... or whatever is the driver for realizing you should have a plan).
I liked your phrasing "What you really need to do when starting a business is to design that business". That's spot on.
It's the difference between simply becoming a "contract employee" versus a truly successful consultant (who, ultimately, gets to design their own lifestyle).
For some being a contract employee is satisfying...more power to 'em. But it's important to realize that it is possible to take it to another level... and really enjoy it (and typically reap greater financial rewards as well). But it does take some mindset shifts, definitely.
-jr
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