Just Admit That You Don't Know

In my last blog post I wrote about how unnecessary business plans are because nobody knows the future. It sure would be nice if the line graphs always went up and up...but that's not reality. Here in this video Derek Sivers, author of Anything You Want, explains the following:

1. A complex and thorough business plan does not guarantee success
2. How business plans can change quickly

My favorite quote from this video is:

"No business plan survives first contact with the customer."

Check out this case study to learn the above principle in great depth and these other lessons: 

• Business plans are the leading cause of startup death
• Rapidly changing markets require continuous business model iteration/customer development
• Your ability to raise money has no correlation with customer adoption

It's amazing how some people just won't admit that they "don't know." They can believe in their plan so much that they can't adapt as needed - this is how business plans stifle progress. No matter what you've got planned, once you get into the real world, everything will change. It's better to understand this from the start. Enjoy the video!