When it comes to planning out a startup versus just diving in and going for it, I have mixed feelings. I’m unsure whether there is a clear winner, or if it strictly just depends on the situation and individual that makes each work. For Tom Kelley, author of “The Art of Innovation”, his brother David was quoted as treating his business like a project, learning as he went and just enjoying the process, creating what is now regarded as the world’s most successful design firm in IDEO (Kelley, Littman, & Peters 2001). On the flip side, you have those companies who planned and are equally as successful, along with those you’ve never heard of, mainly because to this day they’re still planning.
- You’ll stay On Strategy – Having an outline of what you want to see happen can better prepare you for making the right decisions to get there
- Business Objectives Will Be Clearer – because you have this roadmap, you’ll be able to make goals to get you to your destination
- Educated Guesses Will Be better – You’ll be better prepared for unforeseen circumstances and maybe will be able to predict them from your research
- Better Idea of What Needs to Happen, and in what order
- Better Idea of Managing Finances – You’ll be able to determine the financial tools necessary and maybe even acquire it with your business plan
- New ventures are already risky and exploratory by nature. You don’t want to potentially waste time and effort planning for 5 years ahead when exploring the idea can determine whether you want to follow through with or not
- If you’re sticking to an area that you’re already familiar with, the need for acquiring knowledge won’t be as great
- Nothing prepares you more for the real thing than the real thing
- By diving in you’ll acquire the skills necessary to succeed as you progress, while meeting the people that can help and building momentum along the way
- You will never fully be able to plan for everything that can arise, and while attempting to do so you’ll prolong starting your business, risking ever starting it all
With arguments being shown for each, do you believe planning a business is better than just doing it?
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Until next time,