To date, I’ve had about a handful of entrepreneurial activities. Looking back, I realized something: You can’t plan a business. I know that sounds pretty counter-intuitive, but I’ll be honest, the more I think about it, the more it makes sense. At least for me.
Don’t believe me? Alright, well, let’s take a walk down memory lane and let’s survey the land to see what happened. NOTE: I’ve had way more ideas than this, but these are the ones that I put more than a few days or weeks into.
Idea #1 – Restaurant Paging/Seating Software
I wrote a fat business plan. I did market analysis. I had a team in place and a product being built. Then I had a personal incident happen that left a bad taste in my mouth on the idea. Regardless though, I spent a few years on the idea and nothing happened. I had a great plan, but never had a product, not even a beta product. I almost became the software arm of one of my would-be competitors, though that fell through at the last-minute because they didn’t understand software.
Takeaway: You can have a great product idea, business plan and market analysis yet still not go to market with a product. In which case, what was the point of all the planning?