Burn the Business Plan: What Great Entrepreneurs Really Do

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“The evangelist of entrepreneurship” (The Economist) reveals the true stories about how a range of entrepreneurs created their successful start-ups: hint, many of them never began with a business plan.

Business schools teach that the most important prerequisite for starting a business is a business plan. Nonsense, says Carl Schramm in Burn the Business Plan, who for a decade headed the most important foundation devoted to entrepreneurship in this country. Microsoft, Apple, Facebook, and Google are just a few of the companies that began without one.

Schramm explains that the importance of a business plan is only one of the many misconceptions about starting a company. Another is the myth of the kid genius—that all entrepreneurs are young software prodigies. In fact, the average entrepreneur is thirty-nine years old and has worked in corporate America for at least a decade. Schramm discusses why people with work experience in corporate America have an advantage as entrepreneurs. For one thing, they often have important contacts in the business world who may be customers for their new service or product. For another, they often have the opportunity to strategize with knowledgeable people and get valuable advice.

Burn the Business Plan tells stories of successful entrepreneurs in a variety of fields. It shows how knowledge, passion, determination, and a willingness to experiment and innovate are vastly more important than financial skill. This is an important, motivating look at true success that dispels the myths and offers invaluable real-world advice on how to achieve your dreams.

3 comments on “Burn the Business Plan: What Great Entrepreneurs Really Do”

  1. There’s the mythology of entrepreneurship and then there’s reality. Schramm illuminates the reality. There’s the mythology of entrepreneurship and then there’s reality. The myth makes for sensational moments in the Social Network or Shark Tank. The reality is great businesses are not built in a 90 second montage with uplifting music. Schramm helps cut through the fictionalized version of going from idea to successful venture. Further, he provides a valuable service to the fossils who often teach in our business schools. Personally, I’ve been involved in several successful start-ups and...

  2. The real deal Nail meet hammer. This book hits the nail on the head. As an experienced entrepreneur, Carl not only knows the path to success, he knows the questions needed to illuminate the success of others.Through a wide spectrum of stories, Carl removes the rose colored glasses and shows how extraordinary people get s**t done. Bravo!

  3. A book for Entrepreneurs, not MBAs This book tells you what we know entrepreneurs actually do, and having run many startups, I know for a fact. Entrepreneurs learn through doing and then change their strategy to fit the current situation. If they are following any written plan, it's sadly out of date at the speed with which they are moving and creating. Right on!

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