Do startups need a business plan?

I wanted to continue the discussion from my last post about the One Page Business Plan, because I often get questions about whether business plans are even necessary.

There’s a meme running through the business world that many great companies have been started without a written business plan.  In fact, I talked with Brian Schwartz (of 50 Interviews fame) and it’s pretty clear that many businesses started without one.  Many great, successful businesses.

So clearly the answer is that a written business plan is NOT required.  But that’s not the whole answer.

The One Page Business Plan

I saw a mention yesterday of a tool called The One-Page Business Plan, from a book and website called The $100 Startup.  “Cool!”, I thought, “I wonder how it compares to our own Small Fish One Page Business Plan?”

As I suspected, they’re both great tools, but with different purposes.

Can we have a civil discussion?

I was having a great discussion yesterday with some people who are just dipping their toe into social media.  One thing that was holding them back was the stories they hear about discussions and comments getting a bit out of hand.

It happens.

In my experience, the level of civility totally depends on how much of a relationship people share in real life. 

How to succeed at MLMs

Multi-Level Marketing (MLM) companies have a very interesting model.  Perhaps you’re familiar with Avon and Mary Kay, both of which are very successful businesses.

But you may also have a sour feeling about other MLMs.  Amway developed such a bad reputation over the last thirty years that it almost killed the company.

Squirrel!

I loved the movie Up, as did many.  And, of course, one of the enduring images was of Dug the dog noticing squirrels.

I can relate.

You’ve heard this before!

It happened to me this week:  My PC got a nasty virus and was incapacitated for a couple of days.  In my case, I was lucky – only a minor amount of information was lost.

I know, I know, everybody always tells you:  Back Up Your PC.

To increase revenue, stop selling!

Here’s an interesting Forbes article about changing the focus away from SELLING, to BUILDING RELATIONSHIPS.

It’s a concept that we use heavily in Small Fish, and it’s well adapted to our situation.  When people work with a business coach, they’re doing that because they fully trust that the coach has their interests above all else.  It’s not because they’ve been “sold” in the traditional sense.

The benefits of a business coach

I had an interesting discussion with a person today about the benefits of working with a coach.  What we’ve noticed is rather fascinating:  The reasons for hiring a coach are a bit different from the most important benefits the client ultimately receives.

OK, I have to explain.

Belonging to organizations

I’ve had a surprising number of conversations this week about what value comes out of having your business be a part of a larger organization:  a local Chamber of Commerce, an industry trade association, a certification entity, or even the Better Business Bureau.  It’s not a simple decision, because each of these might represent a significant investment.

Coupons bring in coupon clippers

When you give out coupons, the people who tend to use them are … people who like coupons.

Duh!

In general, coupon clippers are people who like to get the lowest price on each purchase, who have little loyalty to the actual product or your company.