Turning Your Innovative Ideas Into Business
The MalayMailOnline website noted that Steve Blank said when he elaborates the difference between Business Plan and Business Models, “no business plan survives first contact with the customer.” While business planning is about making assumptions and hypotheses, a business model is designing and redesigning based on your findings. You never hear people rewriting their business plans, meaning it is static, in contrast, a business model is dynamic. This is a clear message on why we have to stop planning on the idea, instead, execute it and get it validated. Focusing too much on your planning can cloud your judgement.