Build a Flexible Business Plan

5 Apr 2011 Sandeep Mehta

Harvard Business Review has a very good four minute video on how Build a Flexible Business Plan,  Here are the take home messages:

  1. Start from the heart: Only go after what you are passionate about
  2. Think big but start small: Have a large vision but figure out small steps on how to get to it
  3. Have a basic framework: PIMM – or People, Idea, Model (business model) and Market
  4. Know your trade-offs: People are more important than Idea (A-team can improve the idea, but idea can not improve a B-team).  Idea is more important than business model (you can change a business model around an idea). And business model is more important than market (you can change the market applicable to a business model).
  5. Keep it iterative.
Great video worth watching.

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