8 Responses

  1. I fully agree with this You Tube on Business Plans. The emphasis on them at Business Schools is over the top. I wrote a blog on this “Write Your Business Plan in Pencil.” http://www.bootstrapping101.com/writing-business-plans-anyone-have-a-pencil/
    Bob Reiss

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  2. Nice video explaining the ridiculousness of lengthy and detailed forecasts. I once participated in a start-up competition and they wanted a 5 year forecast for a pre-beta app… I struggled with the forecast because it was absolutely unknown. Even exactly where revenue would come from wasn’t set in stone.

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  3. Every time I watch or read one of your things I get so inspired.  I love how you think and I know you are dead-on. Keep going — you are creating more new businesses that will sustain in the future and provide the new frontier in the business world. Good on you!

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  4. Great message and video Steve. Many start-up founders spend too much time planning and not enough testing the market. Our motto is to start small, test, fail quickly, learn, succeed and then scale.

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  5. Steve learned the game of start-ups by being a player on the field. Unfortunately, many investors have never been on the field and will have a hard time grasping Steve’s wisdom.

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  6. David Matilde with GrowthWheel has changed my mindset on Business Plans as well. Great info to solidify this opinion!

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  7. Steve Thanks for highlighting something some of us have been saying for a while now – see MBA for Startups.

    I would take it a step further and say that concept of implementation is usually over looked and this is where a lot of the uncertainty, risk and complexity is identified and then dynamcially managed.

    To be fair to B-Schools. They are not designed for SME’s or startups. Their core focus has always been Blue Chips where execution and established performance engines are the norm. Its a bit like expecting something designed for 10,000 people companies to useful for 10 people companies who are in a different pahse in their life cycles.

    Look forward to other obvious observations:)

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  8. We are using the lean business model canvas as a guideline to developing team projects as part of a 7 month global leadership program in Houston. It’s a great way to organize people around a common understanding of a project – even works on internal process improvement projects.

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