photo credit: mccun934
A recent article explained how differently a corporation plans out their business from the way an entrepreneur does. For example, in a large corporation it is entirely possible to obtain enough resources to run a project for a long period of time before anybody every goes back to check the actual plan and assumptions of that plan. Whereas an entrepreneur must constantly evaluate and redirect their efforts.
This should not be understood to mean that planning should be without discipline – quite the contrary. A good plan takes you systematically from one discovery to the next, ideally with cost and risk contained so that your exposure to the downside never exceeds your capacity to bear it, while continuing to access the upside of your opportunities.