Writer's Opinion - Business Plan Strategy

In an earlier post, the expert views of Dr. Steven Gedeon and Steve Blank were discussed. Dr. Steven Gedeon is an expert on business plans, and states the Executive Summary and qualifications of the management team are the most important aspects of that plan.  On the other hand, Steve Blank believes a business model is more important to start-up companies because they focus more on dynamics and iterative realities these companies face.

As an individual, planning and execution has never been a strong character trait for me. I enjoy taking each day as it comes, while allowing anticipation to fuel my excitement. The unknown does not ignite fear in me but excitement. I welcome change in most aspects of my life and look forward to the mysteries that each day brings. This is not the personality of a successful business owner.

As a business owner, a business plan was the better choice based simply on the knowledge I already have about business plans. There is one area where the ideologies of Steve Blank seem to be precise and has allowed me to rethink how I continue my business plan process. It is difficult to base a business plan on realities, regardless of the amount of research done to anticipate the success or failure of a business.

There are so many factors that contribute to a company’s success. Timing is a factor that is not often considered. I have found that asking relevant questions and finding the answers is a great way to determine the demand for specific products and services. For instance, is the company’s product more advanced than the technology or the individuals that may be using it? Is it cost effective for the area where it will be sold? In other words, it doesn’t make sense to offer a high end product in an area stricken by poverty. This strategy currently allows me to measure and develop strategies for the market I m currently trying to introduce my products and services. Besides this simple technique, I am still employing all of the traditional business plan methods such as research and development and past marketing strategies.