10. Write a Business Plan

The title of this chapter is deceptive. I’m not a big fan of business plans. In fact, I have never written out a business plan that spans anything more than a single page – and that’s the point. A lot of people waste critical time and money writing business plans that never get executed. The first step in the plan might get executed, but that’s about it. After that, things turned out differently than you originally expected, you had to change course, and now the business plan is basically useless. Before you spend any time writing business plans, test your idea for proof of concept. If it has legs and you can see a way forward, then take a SHORT amount of time and write a one-page business plan. It’s easier. It takes less time. And it will serve you far better than a big 30-page document that never sees the light of day!

Here is a brief video I recorded about this chapter:

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