In this article Kavi makes the following point;
A business plan assumes you know all the answers for a given idea. That’s hardly the case. Teams spend hours and hours compiling fantastic forecasts, and will spend tons of money hiring people to build technology or products that have no evidence to support their success. You can always make the numbers look good in a plan and argue how well it will work, but the plan will mean absolutely nothing without rigorous testing and evidence. It’s a fine line between vision and hallucination.
I can not tell you how many times I have made the same mistake. It is dangerous to believe your own bu!! $#it. Experiments over experts. Simple.
Obviously, I have never developed a business plan I did not initially believe in and I have quite the collection of spreadsheets that prove the author’s point. Over time, I have learned to develop processes that allow our team to quickly validate and iterate on our ideas. Using tools like Strategyzer’s Canvas is a big part of that process. The quicker we can get an idea off the board and into a system that allows us to build on and test/validate the plan the better. And keeping it “cheap” just means we can invest in and diversify our portfolio of ideas on our way to innovation.
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Read the full version from the author’s website.