The overrated Business Plan

by:  Kevin D. Johnson

After conjuring up a brilliant business idea, I would immediately start writing a business plan. Like a skilled magician, I could make a marvelous business plan appear before your eyes in just a few days. It would be complete with colorful graphs, in-depth market research, and detailed financials. The plan would be ready to execute. And I was sure it had as many pages as possible. Why? I once heard an investor say that he only considers investing in companies with plans that make a thump when you drop them on a table. After years of practical business experience, I realized that I didn’t make a good magician and  I was only fooling myself. Now I know better.

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