Chapter 10
Write a Business Plan
Do you have a business plan?
Don't worry, I'm not going to guilt you into writing a business plan. This chapter is different than what you're probably expecting. No, I'm not going to push you into extensive market research. No, I'm not going to tell you that a business plan is essential to success. It isn't, but it has a place. Let me explain. Most of what I try fails. At least 80 percent of my efforts crash and burn. So why write a big business plan? Once my experiment fails, I'll just have to write a new one anyway, right? Writing a big plan is futile and takes too long. I don't have time. It just isn't worth it for me, at least not during the experimental phase.
What do I mean by experimental phase? I'm talking about the time before you've identified a sustainable business model. When people fantasize about starting a business, they always start their planning at the point where they already have a sustainable business model, and then they plan all the exciting ways they plan to grow that business model and turn it into a thriving empire. Problem is, most businesses never reach that point. The vast majority of new businesses fail way before they ever reach a sustainable level. They're bleeding cash from the start and finally fold when the well runs dry. Sorry, but it's true. To me, a business plan only matters when you already have a sustainable business model. Before that, it's all about experimentation.
Try everything. Look for the easiest ...
