When Ought to Entrepreneurs Write Their Enterprise Plans? – HBR.org Each day

It pays to plan. Entrepreneurs who write enterprise plans usually tend to succeed, in accordance with analysis. However whereas this would possibly tempt some entrepreneurs to make writing a plan their very first process, a subsequent examine exhibits that writing a plan first is a extremely dangerous concept. It’s significantly better to attend, to not commit an excessive amount of time to writing the plan, and, crucially, to synchronize the plan with different key startup actions.
It pays to plan. Entrepreneurs who write enterprise plans usually tend to succeed, in accordance with our analysis, described in an earlier piece for Harvard Business Review. However whereas this would possibly tempt some entrepreneurs to make writing a plan their very first process, our subsequent study exhibits that writing a plan first is a extremely dangerous concept. It’s significantly better to attend, to not commit an excessive amount of time to writing the plan, and, crucially, to synchronize the plan with different key startup actions.

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