Starting a Business? Skip the Plan

Not all entrepreneurs need a business plan. Most start-ups succeed because the founder had an authentic vision and clarity of purpose, not a well-written document. While not all planning is bad, the content that most business plans focus on has little to do with the reality that will actually emerge. Instead of agonizing over a document, focus on identifying exactly why your business should exist. Clearly articulate the bigger goal at hand, whether you call it vision, purpose, or calling. This will guide you and the business. And remember that the team is more important than any plan. It's worth spending time making sure you are working and partnering with the right people.

Source: Harvard Business Publishing :Today's Management Tip was adapted from "Great Businesses Don't Start with a Plan" by Anthony K. Tjan.

Nick Kalikajaros 2019