Friday, September 25, 2009

Andreessen says: Entrepreneurs Must Be Able To Make Plans And Then Break Them

I've been writing business plans for over a decade for start-up companies and way before that as part of the annual corporate management process. Many times founders are reluctant to pay the fees to update a plan a year down the road, not understanding that it is a work in progress. In fact business plans need to be reviewed at least every six months, not only to ensure management is on track, but also to ensure you are aware of the changing landscape, whether it is the economy and or competitors. Constant fine tuning is the key to success! I agree with Andreessen, that "its the process of planning that's the most important thing to see". So many founders lack this discipline and end up with a fragmented, shoot in the dark attitude instead of a cogent, defendable strategy. This is the most frustrating part of working with start-ups. No one takes the time nor wants to spend a little money to research their market segment and their demographic - a costly mistake that could be the difference between a successful company and a bankruptcy!

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