Comments on: Business Planning – The Big 5 http://www.2-speed.com/2006/05/business-planning-the-big-5/ Entrepreneurial Leadership and Management . . . and Other Stuff Mon, 15 Mar 2010 03:03:37 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Gringo http://www.2-speed.com/2006/05/business-planning-the-big-5/#comment-88081 Gringo Thu, 08 Oct 2009 17:30:43 +0000 http://www.2-speed.com/2006/05/business-planning-the-big-5/#comment-88081 Every business needs a written business plan. Startups especially! Every business needs a written business plan. Startups especially!

]]> By: 2-Speed » We Don’t Need No Stinkin’ Business Plans? http://www.2-speed.com/2006/05/business-planning-the-big-5/#comment-76966 2-Speed » We Don’t Need No Stinkin’ Business Plans? Mon, 06 Jul 2009 21:00:51 +0000 http://www.2-speed.com/2006/05/business-planning-the-big-5/#comment-76966 [...] product/service, market (customer), differentiation, channel and competition (see my post titled Business Planning – The Big 5), is critical and, shockingly, overlooked frequently.  People tend to fall in love with their [...] [...] product/service, market (customer), differentiation, channel and competition (see my post titled Business Planning – The Big 5), is critical and, shockingly, overlooked frequently.  People tend to fall in love with their [...]

]]> By: Will http://www.2-speed.com/2006/05/business-planning-the-big-5/#comment-166 Will Tue, 23 May 2006 21:07:40 +0000 http://www.2-speed.com/2006/05/business-planning-the-big-5/#comment-166 Agreed.  In fact, three years is too long at the beginning or, probably, even as the company gets a bit more established.  I hesitate only slightly in that I often hear this as an excuse to forgo the planning process for any reasonable amount of time.  If you can't explain the factors that will likely effect your business in the coming 18-24 months, the likelihood of your being overtaken by someone else is high. Agreed.  In fact, three years is too long at the beginning or, probably, even as the company gets a bit more established.  I hesitate only slightly in that I often hear this as an excuse to forgo the planning process for any reasonable amount of time.  If you can’t explain the factors that will likely effect your business in the coming 18-24 months, the likelihood of your being overtaken by someone else is high.

]]> By: Dave Jilk http://www.2-speed.com/2006/05/business-planning-the-big-5/#comment-167 Dave Jilk Mon, 22 May 2006 18:52:16 +0000 http://www.2-speed.com/2006/05/business-planning-the-big-5/#comment-167 I don't disagree with your comments overall but I do think there's a limit to how far in advance the startup can and/or should think about the business strategy.  The initial strategy needs to cover not only getting the product to market, but also how the product and company will evolve under plan A (where it's reasonably well-accepted and growth needs to be pursued) or plan B (the company struggles to get traction - what strategic options will the company have?).  What is the plan for crossing the chasm and getting past the early adopters?  This sort of thing. <BR><BR>But I think planning beyond that is a waste of time.  If the company is even somewhat successful, the landscape will be fairly different in three years, because either (a) established players will want a piece of the action or (b) they and other startups are already getting a piece of the action because it turned out they saw the same opportunity you did.  Consequently, the strategy, including very importantly differentiation, needs to evolve as the market does, and a three year timeframe is about as far out as you can think about it without just making idle guesses. I don’t disagree with your comments overall but I do think there’s a limit to how far in advance the startup can and/or should think about the business strategy.  The initial strategy needs to cover not only getting the product to market, but also how the product and company will evolve under plan A (where it’s reasonably well-accepted and growth needs to be pursued) or plan B (the company struggles to get traction – what strategic options will the company have?).  What is the plan for crossing the chasm and getting past the early adopters?  This sort of thing.

But I think planning beyond that is a waste of time.  If the company is even somewhat successful, the landscape will be fairly different in three years, because either (a) established players will want a piece of the action or (b) they and other startups are already getting a piece of the action because it turned out they saw the same opportunity you did.  Consequently, the strategy, including very importantly differentiation, needs to evolve as the market does, and a three year timeframe is about as far out as you can think about it without just making idle guesses.

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