Asking Questions: A Startup’s Business Plan

AskingQuestionsEntrepreneurship would put every aspect of your life to the test. And this is how: an idea knocks on the door of the entrepreneur’s mind, it’s let in and the process begins.

Usually, the idea reveals the exciting opportunities and possibilities, but the details are hidden – initially. The entrepreneur is meant to explore, discover and follow the trail from point to point.

This is important because the initial idea comes full of untested assumptions that must be tested and proven right or wrong if profit is to be made. The process of testing is where the rubber meets the road and at the core of this process is: questions.

In my view, a detailed, conventional business plan is a waste of time for a startup because you have no basis for it. You only have assumptions of who your customers would be and you’re yet to discover an effective business model.

An effective business plan emerges from answered questions. As a startup, in your first year or two, what’s more important than profit is building a mechanism or system that would generate profit and this is done by asking questions.

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