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The Beacon Blog:  Insight for Entrepreneurs—“Discover” Effective Business Planning

The Beacon Blog:  Insight for Entrepreneurs written by Dallon Christensen cited and recommends Entrepreneurial Mindset in his July 24, 2008 posting.

“What is your first thought when you think of the words ‘business plan?’ Is your first thought of venture capital presentations, PowerPoint slides, and grand expectations of following your plan? If it is, you should consider the true meaning of a business plan. Business plans should be used as management tools, which means you can alter your plan as you discover new information.

In their 2000 book The Entrepreneurial Mindset, authors Ian MacMillan and Rita Gunther McGrath articulate a process that emphasizes learning as an integral part of the business planning process. Intuitively, this makes a great deal of sense. Since no one can accurately predict the future, smart entrepreneurs will use their business plan as an initial starting point and not hesitate to update the plan as conditions warrant.

To read the entire the post and more about its author, click here.

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