Business Model instead of Business Plan?

April 9, 2010 W. R. Eilers No Comments

Recently I wrote of the importance of a business plan. My point was to remind entrepreneurs and small business planners of the importance of putting your ideas into parameters and giving yourself direction.  Although I still stand by this thought, I came across this article this afternoon thanks to @hnshah over on Twitter.  The general concept is still there, but I think the point to be taken is, don’t over plan.  At some point you simply have to put your efforts to the test in a real way.  All the theoretical planning in the world will never expose your actual short falls.  To me, the business plan still allows for this, IF you build for flexibility.  Define your goals and milestones in a way that allow you to stay on target with your overall goals, but allow you to adapt.  If you want to call this a business model, ok, but remember that it is a unique business model based on a general theory or structure applied to your specific concepts.  At the end of the day, it is about applying your planning to the tangible world, that is what a good business is all about.

business plan, founders, getting started, incorporating, research, setting up

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