Business plans in IT entrepreneurship

The modern concept of the economic entrepreneur, and the corresponding discourses and practices, emerged in the late 17th century as an alternative economic anthropology, different from that of homo oeconomicus, and has always been invoked in the moments of crisis in the wage system since then. The semantic shift of the meaning of the word “entrepreneur” from a random adventure to a systematic endeavor in the “economic” field was marked by the proliferation of projects, or early forms of business plans. Thus, planning has been an important component of economic entrepreneurship from its very beginning: similar to the nowadays' start-upers, early modern projecteurs used their plans in order to attract the necessary funds and allies. With the professionalization of small business entrepreneurship in the 20th century, and the institutionalization of venture capital as a source of entrepreneurial finance, business planning becomes a tool in business education. Business planning can not only be used in the actual process of creating new ventures (which was emphasized already by Joseph Schumpeter), but also in teaching “lay people” the basics of business. From the 1960s onwards, business plans came to occupy the central place in the venture capital industry, and later on, with the advent of the “new economy” and technology entrepreneurship boom, proliferated beyond the borders of entrepreneurial finance, despite the much expressed skepticism concerning the usefulness of these efforts.