Comments on: The Irrelevant Business Plan http://mindfrenzy.com/the-irrelevant-business-plan/ Motivation and Tools for Entrepreneurs Thu, 19 Aug 2010 09:18:33 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: rtbhat http://mindfrenzy.com/the-irrelevant-business-plan/comment-page-1/#comment-319 rtbhat Sat, 28 Feb 2009 05:04:10 +0000 http://mindfrenzy.com/mindfrenzyblog/?p=92#comment-319 for home based business<br><br>----------------------------------<br><a href="http://business.bizoppjunction.com/" rel="nofollow">http://business.bizoppjunction.com/</a><br><br>rtbhat<br>Guerrilla Marketing for home based business

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]]> By: Steve C | MyWifeQuitHerJob.com http://mindfrenzy.com/the-irrelevant-business-plan/comment-page-1/#comment-150 Steve C | MyWifeQuitHerJob.com Tue, 04 Nov 2008 18:36:49 +0000 http://mindfrenzy.com/mindfrenzyblog/?p=92#comment-150 I agree, writing a formal business plan is a big waste of time. It's better to go out and starting doing rather than trying to plan every last detail. In my book, if its a good idea, you don't need a book to describe it. If you can't explain it concisely, then your customers aren't going to get it either. Steve C | MyWifeQuitHerJob.coms last blog post..<a href="http://mywifequitherjob.com/2008/11/04/customer-stories-the-woman-who-didnt-get-a-receipt/" rel="nofollow">Customer Stories: The Woman Who Didn’t Get A Receipt</a> I agree, writing a formal business plan is a big waste of time. It’s better to go out and starting doing rather than trying to plan every last detail. In my book, if its a good idea, you don’t need a book to describe it. If you can’t explain it concisely, then your customers aren’t going to get it either.

Steve C | MyWifeQuitHerJob.coms last blog post..Customer Stories: The Woman Who Didn’t Get A Receipt

]]> By: Jared http://mindfrenzy.com/the-irrelevant-business-plan/comment-page-1/#comment-139 Jared Thu, 30 Oct 2008 16:31:32 +0000 http://mindfrenzy.com/mindfrenzyblog/?p=92#comment-139 Being short and concise is one of the hardest things to do but it is so important. When you actually start developing your idea is the time to start getting detailed. I think most people really don't understand what a pitch is. It's not a detailed description of everything you plan do and how your doing it. It's a PITCH! Quick to the point get your idea across, if people like it and ask then you elaborate. Being short and concise is one of the hardest things to do but it is so important. When you actually start developing your idea is the time to start getting detailed. I think most people really don’t understand what a pitch is. It’s not a detailed description of everything you plan do and how your doing it. It’s a PITCH! Quick to the point get your idea across, if people like it and ask then you elaborate.

]]> By: Katie Konrath http://mindfrenzy.com/the-irrelevant-business-plan/comment-page-1/#comment-138 Katie Konrath Thu, 30 Oct 2008 02:02:20 +0000 http://mindfrenzy.com/mindfrenzyblog/?p=92#comment-138 It's actually much harder to be short and concise in describing your idea. Most people tend to ramble on and on, in hopes of hitting the right note - instead of making sure it's easy to understand the specific benefits of an idea. While i was studying for my Masters degree at the Institute of Thinking, one of our professors challenged the class to write business plans for our ideas. So many people created complicated plans with 300 components. Most of them spent nearly an hour trying to sell the class on their ideas... with not much success. My group was composed of all international students and we built our business plan around a very, very simple idea. As international students, we lived in an international residence far away from the grocery store. Since the pipes were bad, we had to buy drinking water - which was incredibly inconvenient. Our plan was simply to create a buying consortium that would negotiate favorable prices for water for all the 250+ international students in the Residence, and then deliver the water at a set time every week. Since everyone at the Residence needed water, and the demand was constant, the business was very simple to explain. Once that was established, we planned to expand to necessities like toilet paper, but we'd only offer things that were nonperishable with a guaranteed demand (in order to keep our risk low). The idea was really simple, but everyone saw the value in it. We even got an offer to make the business a reality at the end of class. Katie Konraths last blog post..<a href="http://feeds.feedburner.com/~r/getfreshminds/~3/435807093/the-age-of-conv.html" rel="nofollow">The Age of Conversation 2 has arrived!</a> It’s actually much harder to be short and concise in describing your idea. Most people tend to ramble on and on, in hopes of hitting the right note – instead of making sure it’s easy to understand the specific benefits of an idea.

While i was studying for my Masters degree at the Institute of Thinking, one of our professors challenged the class to write business plans for our ideas. So many people created complicated plans with 300 components. Most of them spent nearly an hour trying to sell the class on their ideas… with not much success.

My group was composed of all international students and we built our business plan around a very, very simple idea. As international students, we lived in an international residence far away from the grocery store. Since the pipes were bad, we had to buy drinking water – which was incredibly inconvenient.

Our plan was simply to create a buying consortium that would negotiate favorable prices for water for all the 250+ international students in the Residence, and then deliver the water at a set time every week.

Since everyone at the Residence needed water, and the demand was constant, the business was very simple to explain.

Once that was established, we planned to expand to necessities like toilet paper, but we’d only offer things that were nonperishable with a guaranteed demand (in order to keep our risk low).

The idea was really simple, but everyone saw the value in it. We even got an offer to make the business a reality at the end of class.

Katie Konraths last blog post..The Age of Conversation 2 has arrived!

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