Simon Bridge's Beyond the Business Plan: 10 Principles for New Venture PDF

By Simon Bridge

ISBN-10: 1137332875

ISBN-13: 9781137332875

ISBN-10: 1349461946

ISBN-13: 9781349461943

[ past the marketing strategy: 10 rules for brand spanking new enterprise Explorers Bridge, Simon ( writer ) ] { Hardcover } 2013

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Extra info for Beyond the Business Plan: 10 Principles for New Venture Explorers

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What will the promotion and distribution look like? Organisation and staffing: What business structure will be established? Where will the business be based? What staff will be needed? What skills are critical to success and what rates of remuneration will be paid? How will the business be managed? Financial forecasts: The financial aspects of all this are then put together to produce financial projections for the business. Other points: Although not always included in business plan formats, a risk assessment and a summary of the projected benefits can also help to persuade people to support the plan.

Business plans appear to be based on big business thinking but, as Edith Penrose pointed out over 50 years ago, small businesses are not small big businesses and do not behave like them. Nevertheless many of us seem to have been hooked by the word ‘business’ – automatically switching on and/or applying big-business-based thinking to anything that is labelled a business – and along with that big-businessbased thinking go business plans. But the value and the apparent hegemony of business plans are now being questioned – and for at least four reasons: UÊ Firstly there is a lack of reliable evidence that business plans actually help businesses.

Effectuation has also subsequently been used as the basis for what is described as a ‘vivid new way to learn about and to practice entrepreneurship’4. 4 Effectuation Saras Sarasvathy studied how entrepreneurs actually operate – as opposed to how they were thought to operate. 5 She found that most of the time, when contemplating a new venture, they did not do a lot of market research and extensive pre-planning. They distrusted market research and revealed ‘a profound distrust of attempts to predict the future’6 and they did not try to plan the shape of the venture in advance and then try to implement those plans.

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Beyond the Business Plan: 10 Principles for New Venture Explorers by Simon Bridge


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