The magic of Harry Potter recently found its way into business strategy and planning. No, she did not conjure her 3,407 page chronology using black magic, a wand, or a potion. Fluff or no, business plans tend to be too heavy for the average entrepreneur. Rowling gave up one amazing secret to her creative genius that every entrepreneur would do well to learn.
The magic of Harry Potter recently found its way into business strategy and planning. No, she did not conjure her 3,407 page chronology using black magic, a wand, or a potion. Fluff or no, business plans tend to be too heavy for the average entrepreneur.
We salute you for both taking to heart what you read, while at the same time, not taking something in writing at face value.
We have long held that the value of a business plan for a start-up homebased business is to provoke the thinking you owe yourself before risking time, money and energy on a new venture. Peter Economy, the co-author of Lessons From the Edge (Oxford University Press), interviewed 75 entrepreneurs whose companies were producing more than $1 million a year before the owners reached age 40.
Gumpert examined academic research and concluded that a formal business plan can actually hamper an early-stage company's chances of success.
Are business plans just artifacts of the pre-Internet era, entombed in business school curricula?
"They said [if they had to do it over], they would not have done a business plan," says Economy.
"They expressed the belief that it's better to dive in than to plan every move.
If you prefer a more structured method, consider the one-page approach, available as software at in the book The One Page Business Plan (One Page Business Plan Co.) by Jim Horan.
What's most important once you decide to start a business is to be active. (Prima Publishing), the key is to always move forward toward your goal, and to refuse to allow obstacles-like feeling blocked by needing to write a business plan-to get in your way.
I’ve seen it used equally effectively for one-man-bands and Fortune 500 companies (though I admit, never for a children’s book! But you don’t really even need a system to practice the simplicity of a one-page plan. When you strip away all the detail, all the superfluous research, and all the pages of redundancy, a single page business plan can give you more than you will ever need.
When you are thinking of quitting your 9 to 5 and starting a new business, dreaming up revolutionary ideas is a lot of fun — and putting them into practice is sometimes much harder.