Why A Business Plan Will Make You Fail

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[RVMBOK]

Write the business plan in 3 hours not 6 months.

[jacquedemarr]

Don’t go without a business plan this is shock value media. Make a business plan keep it direct and simple but make sure you and the plan and your team are flexible enough to change as new things are discovered in the process

[kalibur]

*goes to an investor*
Where's your business plan?

Me: Well actually you're old school

[liamjarvis]

I would somewhat agree with this but I do believe that people should at least know how to create a business plan. “Gotta know the rules before you can break them”

-my opinion anyway

[MPllll.]

Business owners make videos like these not considering the fact that most start-ups are looking to be funded. When seeking funds in the form of loans or grants, most require that business to have a business plan.

Not to mention, when creating your business plan, your outlook on your business is also being built. It’s as though you’re being pushed into that business mindset. Having that overview of your business helps YOU, the business owner, understand just what you are doing. It’s a great way to organize your business from the start, that way you can avoid having multiple moving parts such as spending money unnecessarily, starting one thing and never finishing the other, etc.

We have to consider all parts of a thing before we hit Cancel on that thing, and then decide to “educate” everyone else about how bad that thing is. This info is misleading.

[DN-psbn]

Business planning is important and an integral part of developing a sound business. I feel a business model canvas should be utilized in the beginning stages. Filling out the slots will show you cracks in your idea. This will save you time while also understanding the full picture. Business plans are important for growth. You need to be able to articulate your vision. Organization keeps things running smoothly.

[beautifulmess]

We will stick to old school practices because they work

[uknownx]

True, but you need a plan to get funding.

[WowHeyNow]

What he said sounds like business plan to me

[Mr]

I might agree if you are not planning to invest any capital and you already have customers in Also, if it takes 6 months to build business plan, you should never get in business because by the time you start, you will be in retirement home :)

[bossman]

Couldn’t agree with this more. All business plans make sense on paper, so then why do so many fail? Redundant model… just start and build

[celiaescalante]

Test Instead of Having a Business Plan
1. Get out there
2. Put some messages into the market
3. Build a sales funnel
4. Run some traffic
5. See if people like it
6. If it doesn't work, pass to different strategy

Main idea: two weeks in testing saves time and six months in planing wastes times.

[ishaan]

bro once you start making money you can say anything no issue if it make or doesnt make sense people watch shit

[NickHimo]

Old school business plans = waste of time for early stage companies

Instead quickly map out a business model canvas in 30 minutes.

Then identify assumptions.

Prioritise those assumptions based on 2 things:

1. how much evidence you have
2. how important each assumption i to the success of your business

Then take the assumptions that have least evidence but are most important

Run experiments to test your idea

Yes it might be a landing page / funnel

But it might be as simple as a customer interview or survey to start with

So we go through a loop: business design and testing

First quickly make business experiments with the business model canvas and value proposition canvas or even just a napkin sketch

Then design and run experiments

Based on what you learn, you decide whether to pivot, persevere or kill your idea.

The quicker you kill your idea, the less time money and energy you waste on a business idea that isn't going to work.

[brisbanekilarny]

He has a business plan becasue if he did not, he would not know what he was doing or what to do next.

[thebamfam]

You hear all of these so called foundations on how to start your own business. But we still don’t know how to start….

[kostaftp]

You can have both, a good business plan and a rapid iteration testing system in place 😊

[ezeliamnyenyembe-ngambi]

Thus a quick review of the product if it is really of value to customers

[shmur]

I’ve been working on formulating my business plan for a year and some time now, but I know preparation and a good foundation determine how the seed sprouts

[Perception.mp]

There's different types and lengths of business plans, you need to have a logical strategy at a minimum and have a vision for what you want to achieve, that won't happen if you just act aimlessly