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 start-ups. 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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