Sharing Daily Discoveries About Personal Finance And Business Topics

Business Plan Versus A Business Model At Start

internet learning and business

I was reading some comments today about how many people feel a business plan is a waste of time if you are trying to start a project as you are essentially trying to predict the future when you don’t really know how your idea is going to preform in action. Instead, it was being emphasized that what you should focus on is a business model where you are determining how things are going to run. While I guess in many ways you can argue that your business model is usually in your business plan the point was still that many felt you waste too much time trying to predict the unknown.

In many ways it makes sense with the type of opportunities and projects that people try. Especially with projects that are mainly Internet based. For example, if you were trying to sell royalty photos I would think it would be a lot wiser to plan out your general business model in regards to things like the types of pictures and style you will take as opposed to focusing so long on how many sales you want to do for each photo or how much you think will sell.

I wouldn’t doubt too that if you look at some of the more established people who making a living doing things like podcasting or video blogs that they simply just started with an idea and started producing things as opposed to treating it like a Fortune 500 company where you need to plan everything with twenty suits and ties in a boardroom for example. As usual I think usually the worst part of starting out is actually not doing anything. Too much planning and thinking can be a drawback as well.

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