One of the most consistent things I hear entrepreneurs say is, “I have this great idea.” And the advice they often get is to write a business plan and make it their bible.
Most entrepreneurs firmly believe there is nothing better than a solid plan couples with a great idea.
But don’t confuse being an entrepreneur with being an inventor.
Great ideas are a dime a dozen.
Action is what differentiates an entrepreneur from an inventor. If you want to focus on ideas, become an inventor – not an entrepreneur.
And as for plans, entrepreneurs probably spend more time on our business plans than just about anything else we do.
But business plans are often useless, even counterproductive; the old adage that “planning is everything; plans are nothing” (credited to Eisenhower) couldn’t be more true in entrepreneurship.
History is littered with great ideas – they’re irrelevant to entrepreneurs. You need to be nimble and you need to act.
Sony is a classic example. Few people know that Sony was founded on the idea of offering rice cookers to the masses. They failed at that idea, but Sony is what it is today because the founders were willing to give up on their original ideas and plans.
Photo by weirdvis.