For some people, the thought of creating a business plan makes them gag.
Do you really need a 10-page document to tell you how to run and operate your business? Is that too much structure?
I (Ricardo) argue that the value of a business plan is that you can reverse engineer your numbers, set a rigid plan, and follow it to success. It’s your north star guiding you on where you need to be in order to hit your revenue goals month-over-month and year-over-year.
On the other hand, do they provide too much structure that don’t allow for creativity and serendipity? Can you simply keep your eye on the horizon, identify your strengths, try lots of things, and leave yourself open to serendipity (Scott’s position). In other words, fail fast, fail forward, and achieve high levels of success?
We think both models can work. It just depends on the type of person you are:
Type: 1 – Grinder
Type: 2 – Experimenter
If your business plan (or lack of one) is a stumbling block acting as your excuse for why you’re not currently executing, maybe you’re trying to impose on yourself something that isn’t the right fit for your type.
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