Almost every aspiring entrepreneur or innovator has a business plan, and almost all of these people believe that their business plan - what we call the plan - will work. They probably can not even imagine how they will look on the cover of Fortune or Inc. and they are usually not the case. But what separates the ultimate success of the others is that they do when they first murmurs plan. They lick their wounds, to stand up and turn their ideas into big business, or do they stick to their original plan? If the founders of Google, Starbucks or PayPal stuck to their original business plans, we would have probably never heard of them. Instead, they made radical changes to their initial models, became household names and delivered huge profits for themselves and their investors. How do they get their plans in a business model that works? Why do they succeed when most new ventures crash and burn? "Hide
by John Mullins, Randy Komisar Source: MIT Sloan Management Review 7 pages. Publication Date: April 1, 2010. Prod. #: SMR346-PDF-ENG
Related Case Solutions & Analyses:
GEs Imagination Breakthroughs: The Evo Project
Flipping Orthodoxies: Overcoming Insidious Obstacles to Innovation
Philip McCrea: Once an Entrepreneur … (B)
Work is Good: Branding the EmployAbility Mission
Mittal Steel: The Making of the Worlds Largest Steel Company (B)
Peter Isenberg at Fischer Stevens (B)
Cat Is Out of the Bag: KANand the Layoff Gone Awry (A)
Beyondsoft IPO A
CDI (A): Growth Challenges of a Social Entrepreneur
GLOBALISATION & EMERGING MARKETS
