Thursday, March 25, 2010

A great business plan: the road to success?

One of the stress inducing school assignments I was talking about earlier is to write a business plan for our internet start-up. The books and articles about the topic are countless and the number of business-plan contests is increasing every year. Even entire courses are devoted to writing a business plan. I started to think that the only thing standing between our group and success are some nice color charts, a financial projection and a nice lay-out. But then I wondered: “can we really ‘plan’ our business? Is it even possible to say that an investor will have a ROI of 23% within 2 years or do we just mean "If everything that could go right does go right, you might get your money back"? I guess what I’m saying is that avoiding risks is impossible and not everything can be laid out in a plan. However in the absence of crystal ball, a business plan consisting of correct and honest information is indeed a good start to success.

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