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December 16, 2004
Caution: First Things First
StartupJournal offers a review of various business planning aids (books, software, websites). Proceed with caution!! Too many entrepreneurs rush into writing a plan that rationalizes their idea. Then they launch a business that may have been doomed from the start.
Before you ever write a business plan you should first take a long, careful look at your idea to make sure that it is a feasible business opportunity. The business plan should be the final step as you are getting ready to open the business. It should be an act of pulling together the careful and objective research and thought that you put into your business idea. Be careful and be patient.
Posted December 16, 2004 07:38 AM
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Jeff Cornwall: StartupJournal offers a review of various business planning aids (books, software, websites). Proceed with caution!! Too many entrepreneurs rush into writing a plan that rationalizes their idea. Then they launch a business that may have ... [Read More]
Tracked on December 16, 2004 11:19 AM
Comments
Agree with your comments on testing the feasibility of a new business idea before writting the business plan. I would also say that the results of market research/analysis and compilation of a strategic Plan (2-3 pages) are also essential preparatory work. The three elements taken together will provided a solid foundation for a business plan.
Posted by: Brian Flanagan at December 17, 2004 10:00 AM
at Belmont University in Nashville, Tennessee. He consults with a variety of businesses on start-up and growth related issues, and with larger corporations on re-establishing entrepreneurial cultures within their organizations. Dr. Cornwall's current research interests include entrepreneurial finance and entrepreneurial ethics. He has authored or co-authored four books.
