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.
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!
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.
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.