Myth of the Business Plan


bill gates business plan

Bill Gates on how innovation is the key to a brighter future, and how we're only just getting started. Bill Gates: Here's My Plan to Improve Our World -- And How You Can Help | WIRED. David Yoffie and Michael Cusumano find common leadership lessons from the tech titans of Microsoft, Intel, and Apple in the new book, Strategy Rules. If there were a Mount Rushmore for technological innovation, Bill Gates, Andy Grove, and Steve Jobs would be the faces looking outward. The longtime. Dec 20,  · "Some of the heroes of today's would-be entrepreneurs, such as Steve Jobs, Bill Gates and Michael Dell did not have business plans in hand when they embarked on Author: Kate Lister.

Bill Gates Biography

This story appears in the January issue of. What entrepreneur hasn't been told of the need for a written business plan? But most, when asked whether they have one, would cast a guilty look at their shoes. Well, fret no more. Continuing research at Babson College, regarded bill gates business plan having one of the top entrepreneurship programs in the country, finds no statistical correlation between a startup firm's ultimate revenue or net income and the supposedly requisite written business plan.

Sadly, bill gates business plan, while the research debunked the business plan more than three years ago, the myth lingers. Don't get me wrong. I'm all for having a business plan in the verb sense. I'm just not a big believer in the noun form. Writing a formal business plan invites the paralysis of analysis. It distracts the entrepreneur from slaying dragons and thinking big thoughts. And it's largely a waste of time.

The result usually is a long-winded missive that's out of date almost the moment the ink dries. Should you think through business planning issues such as how you're going to move from thought to action, bill gates business plan, how you're going bill gates business plan find customers and how you're going to pay the bills?

Should you agonize over writing everything down in a format that some scholarly journal says is the way to do it? Won't lenders want to see a business bill gates business plan In my 10 years as a banker, I only saw one business plan, bill gates business plan, and it was out of date. In my eight years as a bill gates business plan consultant and two decades as a business borrower, no lender has ever required one--at least not the kind you learn to write in business school.

An SBA lender, for example, may request a business plan, but what it really wants are some cash flow projections. Although the majority of unsolicited requests for venture capital are to page tomes, many of the deals that are financed shortcut the process with a killer executive summary and an introduction by a trusted advisor. No VC or private investor is going to walk away from a spectacular business concept and the wherewithal to turn it into a success just because there's no written plan.

The biggest problem with business plans is that they offer pages of blah, blah, blah about the wonderfulness of the entrepreneur and the whiz-bang product followed by a few measly paragraphs about how every person in China is going to be a customer. Then pages of numbers promise huge returns but offer little more than wide-eyed guesses. The topper--if it's included--is the offer of a percentage of ownership based on an overblown estimate of the company's value. Great business plans may earn you an A in business school, but in real life you only get A's for achievement.

So stop dotting your i's and crossing your t's and go out there and slay something. Next Article -- shares Add to Queue.

Kate Lister. Magazine Contributor. December 20, 4 min read. More from Entrepreneur. Brittney's a Certified Financial Planner who can help you manage your business and personal finances and navigate the ups and downs of starting a business. Book Your Session. Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level. Join Now. Are you paying too much for business insurance?

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Last Name. Confirm Email. Confirm Password. Yes, I want to receive the Entrepreneur newsletter. Are you sure you want to logout? Logout Cancel. If you Must Write One If it doesn't grab them in a page, two at the most, you've lost your reader. It's the thought s that count. Offer well-researched and well-documented assumptions that bill gates business plan reader can believe.



bill gates business plan


The Strategy Lifecycle: A Guide Bill & Melinda Gates Foundation [5] Annual Plan Annual planning is the process by which the CEO and co-chairs review and approve proposed spending levels and priorities for the coming year, including grant and expense budgets. The plan is developed in the fall, with final approval in January. Dec 20,  · "Some of the heroes of today's would-be entrepreneurs, such as Steve Jobs, Bill Gates and Michael Dell did not have business plans in hand when they embarked on Author: Kate Lister. Jan 27,  · Five ways to use business strategy rules like Bill Gates and Steve Jobs. David B. Yoffie and Michael A. Cusumano. Updated Jan 27, — pm, first published at Jan 14, — pm.