We now understand the distinction between startups - who search for a business model - versus existing companies - that execute a business plan.
Sentiment: POSITIVE
Properly defined, a startup is the largest group of people you can convince of a plan to build a different future.
Not all startups are alike. One of the key ways they differ is in the relationship between a startup's new product and its market.
The thing about startups is you can make it, and if it's wrong you can remake it, and you can build a team that you want to have, a product that you want to have. You're utterly focused on your users or your customers and their needs, and trying to figure out how to meet those needs.
Most people end up owning a business by accident. Therefore, they don't usually have a thought process and a strategic plan in place.
People come in with business plans and, I mean I know that no one is going to meet everything they say in a business plan but you got to have something to, to guide towards.
A startup is not just about the idea: it's about testing and then implementing the idea. A founding team without these skills is likely dead on arrival.
The business model is both the starting point and the scorecard for Customer Development progress.
Most venture capitalists won't read a business plan unless the entrepreneur is introduced to them by a contact.
What I tell founders is not to sweat the business model too much at first. The most important task at first is to build something people want. If you don't do that, it won't matter how clever your business model is.
There's one thing I've learned about entrepreneurs' business plans. Every one is wrong.