The Death of Business Plans

It seems like we are all addicted to business plans, strategies and action plans, and we seem to love to write, discuss, approve and implement them.

A quiet revolution is however brewing; especially in retail and tech startups.  Flash Business, Pop Up Stores and Lean Startup are concepts that are here to stay.

Concepts where market feedback is more important than assumptions; where experimental trial and errors have more benefits than detailed planning, and where “Just Do It” mentality wins over “Let’s Have a Meeting”.

Markets, products, technologies and companies are growing and disappearing at an amazing speed, which makes it very challenging to predict, assume and plan efficiently.

Best proof is actually the number of business plans and strategies needing adjustments, changes or that become outdated and seem irrelevant after just 6-12 months.

In many scenarios the time and resources spent on planning would be more wisely spent on actual testing of the idea, product and service with real customers.

In Flash Business you don’t overanalyze market potentials, don’t wait for everything to be perfect, and don’t try to predict or plan every possible scenario. Flash Business is active, direct and a targeted test with real market knowledge and real insight to what works and what needs to be changed.

Besides obtaining real know-how it is amazing how much interest a pop up store gets, and how much buzz a Flash Business market entry creates.  Maybe you are at the right place with the right thing at the right time, but even if you don’t make money instantly on Flash Business it is real, it is more than paper, it is facts not words, and managers, boards and investors love that!

We like directions, budgets and priorities, but knowledge, real data, speed, action and actual market and customer feedback are so much more beneficial than even the best business plan.

Best trips, best parties, best homemade meals are often not planned but are spontaneous, intuitive and we are just doing it. Often that will work in business too.

 

To discuss this blog contact Johnny Killerup Pedersen at jkp@converzion.com