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Beyond the Business Plan
Book

Beyond the Business Plan

10 Principles for New Venture Explorers

Simon Bridge and Cecilia Hegarty
Palgrave Macmillan, 2013

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7

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Recommendation

Business plans are a long-accepted part of the strategic planning process. Until now, few experts questioned their accuracy, relevance or importance to the success of a new venture. However, Simon Bridge and Cecilia Hegarty take a new approach as they present their iconoclastic investigation into the role of business plans. They explain why intrepid entrepreneurs – “venture explorers” – should seek a better alternative when pursuing funding for their start-ups. While the book is repetitive, the authors present their argument carefully, buttress it with case studies and list 10 sound and interesting principles that venture explorers can rely upon as they launch start-ups. getAbstract recommends their insights to anyone seeking to launch a new enterprise.

Take-Aways

  • Many start-ups consider formal business plans limited or irrelevant because new ventures include uncertainties that cannot be quantified or predicted.
  • Like Columbus setting sail, “venture explorers” relish what creating a new enterprise allows them to do.
  • Limit your risk. Determine how much you can afford to lose and don’t commit more.

About the Authors

Simon Bridge is visiting professor of entrepreneurship at the University of Ulster and the co-author of Understanding Enterprise, Entrepreneurship and Small Business. Cecilia Hegarty has worked in entrepreneurship higher education for more than 10 years.

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