Session 1, Part 1: Introduction and Overview of Business Plans

MIT 15.S21 Nuts and Bolts of Business Plans, IAP 2014
Instructor: Joe Hadzima

What is it, why do I need it and what is it used for? Practical do's and don'ts in preparing a Business Plan. Things to keep in mind in writing a Business Plan which will improve your chances of obtaining funding and running a successful business.

License: Creative Commons BY-NC-SA

[zelalemmekonnen]

160 people attended, but 150k+ watched.

[gguitarp]

Thank you for making this publicly available!

[nicholasmalama]

The level of BUSINESS insight in this is astonishing. Am surely revisiting this... again and again.

[mssn]

I'm so glad the teacher was attentive to that that 1 customer. We are now the customers.

[MaiFast]

If you have a great idea, great product, great team and great execution then you are successful, these the are main 4 pillars of successful business/startup simple

[uudxyhx]

🎯 Key Takeaways for quick navigation:

00:27 *📉 Strategic planning is often mistaken for strategy but involves merely listing activities without coherent choices.*
01:25 *🎯 Strategy comprises integrated choices positioning a company for competitive advantage, unlike planning focused on resource allocation.*
02:23 *💰 Planning involves controlling costs, while strategy aims for desired outcomes reliant on customer response.*
04:20 *🏆 Southwest Airlines succeeded by implementing a winning strategy focused on cost efficiency and customer convenience.*
06:39 *😨 Embrace the discomfort of strategic uncertainty; strategy entails risk, while planning offers false comfort.*
08:03 *📝 Clearly articulate your strategy's logic, monitor its unfolding, and adjust as needed to stay relevant and effective.*

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[jackwalker]

I dont have the money to help MIT, but man, I am grateful for the training.

[allmoneyin]

This guy is fire teaching this course !

[samuelnzekwe]

Great content, thanks guys. please continue this, i cant wait to have the full course

[dohminkonoha]

Thank you.I will begin some business in this terrible recession era.

[Luis.Barrueta]

This is pure gold. Thanks for sharing.

[amrsh]

Thank you for making this course available online, greetings from Port Said, Egypt.

[stevenmusielski]

Great formula H=R/E. I never thought of the formula that way before.

[honeybee]

Thank you much MIT. Can't thank you guys enough for this!

[tanveeralihaidery]

Thank you so much for sharing it. Highly appreciated.

[ipedia]

Good video for Business students and men

[garrettburleigh]

This is amazing to be able to listen too.

[kumargovind]

Thanks for sharing your views. Greetings from India

[arrowb]

Even Harverd School kids came here for the Class . Impressive for the Class.

[sammyjus]

Good explanation of what business plan should be.