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Is a Business Plan or a Concept Plan better for Startups

i Sumana Chakraborty
Category: Business
Date: 11/04/2011
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We have been debating over for many years now on whether a technology start-up company should write or need a business plan. If we go by case studies we will find few companies did fairly well without a business plan whereas many flourished upon a set of plans that probably gave then a better view of their goal.

 

One simple question that comes to mind is that shall anyone of us start constructing our home without a blueprint? Perhaps not. But while venturing into a new domain, you need not always have staunch guidelines. There could be a concept plan instead.

posted by Sumana Chakraborty | suggest edit

Yes

Is a Business Plan or a Concept Plan better for Startups

No

Is a Business Plan or a Concept Plan better for Startups

DEBATE

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Business plan, work well within a periphery of well-known set of factors. Like in case of a restaurant Ė the expenses, investment required, and the niche market is well defined. Or for a company like IBM, where every product has its own market, business plans are absolutely necessary.

posted by Sumana Chakraborty | suggest edit

For a technology start-up, the case is different. It is more important for them to forge new frontiers. They are more focused upon developing new products for a new market. They venture into territories, where they donít know what is waiting ahead. Perhaps if Vasco Da Gama wud have carried a blue print he would have never discovered India.

posted by Sumana Chakraborty | suggest edit

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I think that we need do design a concept at first.........it may give birth to an unique business........

Posted by Swetarupa Chatterjee on 10/06/2011 at 03:21 PM

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business plan is generally required when a existing business scale is there,, but for a start up whr there is nothing,, and whole concept blue print is required,,, for a start up we cant do all the business plan entities like BCG matrix scanner,, GE business screen,, etc etc,, so concept plan can lay the outline for the foundation and how to go about.

Posted by Tanumoy Hazra on 26/05/2011 at 04:09 PM

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Agree with Suresh wholheartedly! Especially with web 2.0 and internet based startups you don't want to settle on business model till you see unintended but bigger uses for your technology!

Posted by Nari Kannan on 13/04/2011 at 01:33 AM

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bigger uses of technology comes fast for the internet based start ups is it not nari kannan?

Posted by Tanumoy Hazra on 27/05/2011 at 04:09 PM

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This makes more sense

Posted by on 12/04/2011 at 03:56 PM | X

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