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Love No. 4. Me and my friend (both business students) tried to start a business with having the Business Plan as our first step. It went to hell. Now we start
by mkaroumi 11y ago
Love No. 4.
Me and my friend (both business students) tried to start a business with having the Business Plan as our first step. It went to hell.
Now we started with validating the idea - selling! It worked soooo much better. More people should try that instead!
- rpgmaker 11y agoActually, No. 4 may be the reason why so many startups fail or never make any profit at all for years before failing anyways. But don't mind me, business plans aren't cool.
- mkaroumi 11y agoI HATE business plans. BMC though, that's pretty useful :)
- simonswords82 11y agoDon't get sucked in to the all business plans aren't worth the paper they're written on parade. Sure, a 200 page document that takes you six months to write that you work on to the exclusion of everything else? Yeah that's bad. However a short few pages on the idea, the target market, some guesstimates on sales targets, expenditure and so on is a small piece of work that in my experience can be very useful. It gives you a document to go back to as a bad line for progress. What is measured can be improved and all that jazz. Also, just taking the time to scope out your business, even at a high level, will make you think about areas of work that a founder might not otherwise consider until it's too late.
- mkaroumi 11y agoTrue. But what about a BMC instead of a 200 page business plan? Sure, it takes time to create a good BMC but man, they've helped me so much!