Is a Business Plan Necessary?

January 23, 2007 by Mary Wynne-Wynter 

It’s good to see that Babson (I’m an alum involved with Babson’s world-class programs) is open to a new perspective regarding the importance of the business plan.  When I was there, one of my criteria for taking a class was that it NOT have a business plan included in the coursework.

#1 in Entrepreneurship, Babson is now giving more attention to small professional service start-ups.   These budding entrepreneurs won’t need business plans as much as they will need to hone, communicate and present their creative and generalist skills and ideas.

Guy Kawasaki gives good recommendations about what business plans should, and should not be. 

My advice to PSF start-ups is to forget the planning and focus on producing content and continually developing creative, writing, authentic speaking, and self-publishing skills.  The target is moving too fast to plan for it. Its more important to align with it.

Before you dedicate your life to crafting a business plan the length of a book, read these two paragraphs from the 1/9/07 edition of the Wall Street Journal in an article called "Enterprise: Do Start-ups Really Need Formal Business Plans"

 

(Via How to Change the World.)

Filed under: Consciousness, career, going solo
Tagged:
Comments: None