Sunday, September 29, 2013

Not Everyone Likes a Business Plan Part 2: How I will apply Hsu and Blakeman’s advice to my own business

In my previous post, I discussed two business experts, Will Hsu and Chuck Blakeman, and their opinions on business plans. Both explained that business plans are not necessary to build a successful business. Although I still plan to write a business plan, I found the gentlemen’s advice extremely useful.

Sunday, September 8, 2013

Not Everyone Likes a Business Plan

In business school, we’re taught the importance of writing a business plan. When I was working on my bachelor’s degree, most of my classes included a final project that consisted of writing a marketing or business plan. My current master’s program also centers on creating a business plan. Most business experts will insist that it is impossible to start a new business without a plan, and investors will not touch you with a ten-foot pole if you do not give them a business plan. Contrary to what I have always been told, two successful entrepreneurs say that business plans for a startup company are a waste of time.