It is common practice, bordering on default practice to suggest to aspiring entrepreneurs that they create a Business Plan (BP) as one of their first activities. Although common practice, since every entrepreneur and their ideas, opportunities, customer segments, and markets etc. are different, the near-universal practice can’t really qualify as good practice.
Furthermore, this default practice is based on the implicit assumption that BPs are appropriate and useful to startups. Is this the case?
As you have probably guessed, I’m going to suggest that creating a BP is not the first thing an entrepreneur should necessarily do.
To learn more about appropriate BP use, read the paper Business Plans – When are they needed?
More fruitful activities for entrepreneurs would be to read my eBook Starting a Business – With Facts, Not faith (you’ll find a free sample download here or in the SHOP page). Or, to get a little intro into the thrust of my eBook, you could first start by reading this, The 1-Page Business Model.
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