You have a new venture in mind. And you've crafted a business plan so detailed it's a work of art. Don't get too attached to it.
As John Mullins and Randy Komisar explain in Getting to Plan B, new businesses are fraught with uncertainty. To succeed, you must change the plan in real time as the inevitable challenges arise. In fact, studies show that entrepreneurs who stick slavishly to their Plan A stand a greater chance of failing-and that many successful businesses barely resemble their founders' original idea.
The authors provide a rigorous process for stress testing your Plan A and determining how to alter it so your business makes money, solves customers' needs, and endures. You'll discover strategies for:
-Identifying the leap-of-faith assumptions hidden in your plan
-Testing those assumptions and unearthing why the plan might not work
-Reconfiguring the five components of your business model-revenue model, gross margin model, operating model, working capital model, and investment model-to create a sounder Plan B.
Filled with success stories and cautionary tales, this book offers real cases illustrating the authors' unique process. Whether your idea is for a start-up or a new business unit within your organization, Getting to Plan B contains the road map you need to reach success.
|Publisher:||Harvard Business Review Press|
|Sold by:||Barnes & Noble|
|File size:||1 MB|
About the Author
John Mullins is Associate Professor of Management Practice at London Business School, and a veteran of three entrepreneurial companies. Randy Komisar is a Partner at venture-capital firm Kleiner Perkins Caufield and Byers and has served as a Consulting Professor of Entrepreneurship at Stanford University.
Most Helpful Customer Reviews
From a child's first lemonade stand to corporate giants like Apple, all businesses start out with a plan, but few of these initial road maps go the distance. Rather, one of a company's subsequent strategies - its Plan B or C or even D - usually points the way to success. London Business School professor John Mullins, author of The New Business Road Test, and venture capitalist Randy Komisar, author of The Monk and the Riddle, explain how to develop a strong business model using a healthy dose of data balanced by the occasional terrifying-yet-exciting "leap of faith" that differentiates one business from another. getAbstract recommends this book to new entrepreneurs and leaders who are responsible for building businesses. It contains basic financial information to get you going, ample examples, inspirational characters and plenty of encouragement to trust your instincts and build a Plan B that delivers.
In Getting to Plan B - Breaking Through to a Better Business Model, authors John Mullins and Randy Komisar combine their efforts in to a great read for anyone who thinks "How can we do business better around here?" Getting to Plan B takes a look at writing a business plan, but it goes further. It asks "How can we write a better business plan?" By following a definable path Mullins and Komisar spell out how many well known companies around the world have gotten great results by coming up with a better business model than they had first developed. The book lays out a plan that uses these steps to success: Use Analogs: Analogs are defined as businesses who set a good example to follow. Use Antilogs: Antilogs should be found that failed using ideas in you plan. Leaps of Faith: Creating a hypothesis that you will try to prove out in order to succeed. Dashboards: What gets measured gets done. Use dashboards to record the results of your business efforts as you make tweeks to your plan. The book does an excellent job proving out the authors ideas through stories of the successes and failures of many of today's leading companies and some old and new industries. Companies such as Amazon, Dell, The Gap, Napster as well as many others make an appearance. Getting to Plan B looks at the evolution of the auto, publishing, retail and computer industries to show how companies adapted to change and others changed the industry and made their competitors play catch up. Chapters 1. Don't Reinvent the Wheel, Make it Better - Assembling analogs, antilogs, and leaps of faith. 2. Guiding Your Flight Path - Using dashboards 3. Air, Food, and Water - Your revenue model 4. Avoiding Rocks and Hard Places - Your gross margin model 5. Trimming the Fat - Your Operating Model 6. Cash is King - Your working capital model 7. It Takes Money to Make Money - Your invesment model 8. Can You Balance a One-Legged Stool? - Multidimensial business models 9. Getting Started on Discovering Your Plan B For a few bucks read this book. It can make you think about problems from a new angle and hopefully get you to develop answers you never thought of. Good Reading