Open a company: Is it best to follow our dream / instinct or prepare a specific business plan?

May 20, 2010 | Doing business

With this post, I want to return to one of the fundamental aspects of the start-up of a company.

The two theories, both supported by numerous examples and case histories of success (or failure), they give in differents situations of a starting of an entrepreneurial project, advantages and disadvantages.

Start a business successfully: the rationality or the instinct?

In manuals and courses, the prevailing theory of course, advise to develop a suitable project and a detailed analysis in all its points.

And requires in most cases, an attachment, and detailed financial plan to analyze the cash flow during the first five years.

Many analysts and even more ‘fussy, they go further, advising people to consider in the first stage of initiation, development of different assumptions in order to evaluate the different implications and begin to outline a more dynamic strategy and capable of handling even sudden crises or problems not budgeted.

Surely, it is a good method and also serves to train the new entrepreneur to manage future challenges and situations that are not always predictable.

Start a business successfully: the theories of the instinct strategy

Many entrepreneurs, small and large, some of wich became famous in recent years, thanks to the development of innovative Web companies, are an example of how, contrary to what was argued above, instinct and ability to navigate at sight, is the primary gift to achieve success in any business.

Indeed, many really innovative projects, were the result of brilliant ideas and discoveries that were put into practice, even and especially without a real plan medium and long term and so they became successful case histories.

In fact, some of these businesses, if they had always proceeded with the traditional business plan and a detailed plan, you probably have not got the results that made them rich and famous.

In contrast, most failures in business projects, must be attributed in part or in whole to a lack of a plan, a total absence of any study or project: a superficiality in the activity of entrepreneur, living in a reality dream, but without a secure preparation or otherwise without to define his objectives and his concrete actions.

Start a business successfully: So who is right?

In general terms I would give reason to those who suggest to start with a business project, after an appropriate business plan.

But this, does not exclude a whole range of features and capabilities which are typical of a successful entrepreneur:

act decisively and immediately in every situation and moment

also be able to sail with in every situations

to be able at any time to change course or redefine a different strategy if the situation warrants.

Being able to grasp, even without preparation, any opportunity sudden and that it was not remotely predictable.

And as always great capacity of observation and creative skills.

Good job

Andrea Figoli

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