Here’s The Real Reason Why Business Plan Competitions Are A Huge Waste Of Time
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May. 17, 2010, 11:26 AM
watch clock stopwatch time Image: US Navy Last week one of the schools I teach at invited me to judge a business plan contest. I suggested that they first might want to read my post on why business plans are a poor planning and execution tool for startups. They called back laughing and the invitation disappeared
At best I think business plan competitions are a waste of time. But until now I haven’t been able to articulate a framework of why or had a concrete suggestion of what to replace them with.
Now I do.
Business Plan Versus Business Models
Where did the idea that startups write business plans come from?
Steve Blank, as usual, with a well thought out post explaining why the focus of many competitions is really more of a dog and pony show than a constructive event.