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Finally, after yet another hand-wringing board meeting, at which one of the financier's henchmen screamed, threatened to cut off funding, and jumped management through innumerable hoops, I took the fellow aside. I explained that in a Brave New World startup, where there's no existing market, no incumbent competitors, and no economic model, you're literally inventing the business as you go along. It was absurd, I told him, to hold the team to the original plan. Look at the progress they had made on everything within their control, such as the quality of the organization and the status of the product. It was necessary to be vigilant and flexible in order to learn as the business progressed. These were the right indicia of success at this point, not the plan. The management team was obviously working hard to close a deal with distribution partners and was pursuing alternative strategies. By any measure, except the original plan, this team was doing a great job. The principal use of the plan comes at the beginning, I explained, to show that the founders are intelligent, capable of structuring the business concept and expressing a vision of the future. Later the plan can help track problems that may reflect on the startup strategy itself.
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Randy Komisar (The Monk and the Riddle: The Art of Creating a Life While Making a Living)