GETTING TO PLAN B PDF
Getting to plan B: breaking through to a better business model /John Mullins, Assembling Analogs, Antilogs, and Leaps ofFaith to Get to Plan B http:// resourceone.info If the founders of Google, Starbucks, or PayPal had stuck to their original business plans, we'd likely never have heard of them. Instead, they. "Getting to Plan B contains the road map you need to achieve success". Global InterIm manaGement. GettinG to Plan B. By John Mullins and Randy KoMisaR.
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PDF | On Apr 1, , Arlen D. Meyers and others published Getting to Plan B: Breaking through to a better business model. Download Getting to Plan B in PDF Book Name: Getting to Plan B: Breaking Through to a Better Business Model Author: Randy Komisar Language: English . See discussions, stats, and author profiles for this publication at: https://www. resourceone.info Getting to Plan B: Breaking through to a.
One of the most interesting one is the use of analog and antilogs, that I had already mentioned when reviewing Ries' Lean Start-up.
Again For the iPod, the Sony Walkman was an Analog "people listen to music in a public place using earphones" and Napster was an Antilog "although people were willing to download music, they were not willing to pay for it". Analogs are successful predecessors worth mimicking in some way whereas antilogs are predecessors whether successful or not in light of which one explicitely decides to do things differently [Page 14].
But when they claim Apple's plan B was to transform itself from a struggling PC maker to a consumer electronics powerhouse [page 21] , I find the broadness of the plan B concept really too broad! Then their methodical dashboard is about validating leaps of faith by testing hypotheses.
And what is new compared to other important references such as Steve Blank's customer development is the focus on the business model through 5 elements: Why plan A won't work? The authors answer, page 3, by quoting Albert Page: And a few lines below, "figuring out what the customer wants is not easy.
Google's plan C works. Plan A had no revenue model, plan B was licensing, plan C was advertising. But remember Google was always a search engine. In terms of product, it was still plan A! Arguably, it's worse than missing the target completely because it will tie down your considerable talent in a venture with no real future. You and other entrepreneurs and innovators like you are the lifeblood of today's economy. And to waste your talent on something mediocre would be a real shame.
Many case studies illustrate how to optimize each of the 5 business models elements [chapters ], whereas chapter 8 shows that you will need to find a balanced solution trying to get the best of these 5 key financial objectives. I fully agree with their final chapter's early sentence: It's about, in a sense, business discovering.
Quoting Eisenhower, "plans are useless, but planning is indispensable" or McArthur: So again, the building blocks of the process are: The answer [page ] is nice: Don't do it. A contingency plan would probably be just as flawed. From Randy Komisar, through Eric Ries, to Steve Blank including my recent account of Cohen's Winning opportunities , the important element is the discovering process of your business, of your customers in an iterative and flexible manner.
This is clearly an important lesson to remember. I have been involved with entrepreneurship for more than two decades, mostly as part of a non-profit organization that helps entrepreneurs Ben Franklin Partnership. For most of that time I was convinced by the "experts" that the most important thing for starting a company is a detailed business plan.
We insisted that all our clients do this, and often provided business advisers to help them prepare a better plan. Over the years, however, I noticed that the vast majority of entrepreneurs we helped who succeeded did not follow their plan -- rather, they morphed to adapt to market conditions not fully predicted by their plans.
This has led me to promote a new, more adaptive way of starting a business.
As I have been doing that, I ran across first some blogs by Silicon Valley serial entrepreneur Steve Blank and then this book by Mullins and Komisar, Getting to Plan B, which reinforce my observations. The book not only makes the point but includes a number of excellent examples of how entrepreneurs' initial ideas failed and how they managed to adapt a new business model sometimes multiple iterations that finally led to success.
Further, the authors provide a nice framework that attempts to organize this new adaptive approach into a kind of process but without losing the value of the entrepreneur's intuition and adaptability.
I highly recommend the book. In fact, I am going to use it for a graduate course in entrepreneurship I am teaching this fall in place of the traditional and very expensive textbooks on entrepreneurship that all seem to present the same, business-plan-focused approach to starting a business.
[PDF] Getting to Plan B: Breaking Through to a Better Business Model Full Colection
In short, the book points out that any innovative business will always involve one or more "leaps of faith. You can never be sure how customers will react until you interact with them in a real situation.
Other aspects of the business can be modeled on what existing businesses do analogs or don't do antilogs in the same or another industry, and thus have a track record. The most important thing for the entrepreneur is to identify the leaps of faith in his or her plan, and to find a way to test them in the marketplace as early as possible and as inexpensively as possible.
He or she can then adapt those things that don't work as anticipated early in the process, and have a much better chance of achieving success. Doing detailed planning without testing the leaps of faith is a waste of time and resources because too often the leaps of faith don't translate in the way the entrepreneur believes they will. This book helps one understand how to develop a business model in the adaptive manner, and it is an easy read.
Randy Komisar is a serial entrepreneur and now venture capitalist in Silicon Valley. I find him to be very articulate about what really happens in an innovative business or project, probably because he has experienced both success and failure and has developed an appreciation for each.
Book Review: Getting to Plan B: Breaking through to a better business model
John Mullins is a London Business School professor who, I assume, provides much of the organization and structure for the ideas and process. The combination makes a very effective book. So many times I have had a great idea and jumped right into it only to find myself unsuccessful and at a loss financially, physically, and mentally. If only I had known to read this book back then.
This book gives good direction on how to shape and grow your business ideas. The book is easy to read and comprehend. I feel certain that I will look for more books by John Mullins that take this Plan B book a step further.
The tools and process outlined in the book Kindle Edition Verified Purchase. I mentor early stage companies located in underserved areas that are trying to do good. The tools and process outlined in the book has helped me develop a framework to increase their probabilities of success.
It has also helped me convince entrepreneurs to change their focus and efforts from raising capital to one on understanding their value proposition and generating revenue. I am a first hand witness of what the book says in clsoing, it is a "process for answering the single, simple, life-or-death question about your entrepreneurial dream: How can I break through to a better business model that will actually work?
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Amazon Drive Cloud storage from Amazon. After several quarters of anemic revenue, the CEO, Jonathan Thorne, did some experiments, changed course and went to Plan B by selling to neurosurgeons. This adjustment resulted in rapid profit growth and, eventually, acquisition by Stryker, a large medical device company.
Bioentrepreneurs, doctors and scientists will immediately recognize the model Mullins and Komisar propose, as it is remarkably similar to the scientific method. First, scan the environment and look for those who have done before what you are doing literature search and the present state of the art.
They suggest looking for analogs, companies that are doing things the way you intend to do them, and antilogs, those firms that are doing it differently.
Second, identify your leaps of faith-beliefs you hold about the answers to your questions despite having no real evidence that these beliefs are actually true. After all, most business plans are based on assumptions that are usually tested by secondary sources such as white papers, Internet websites or research reports on public sites. Even if the management team gets primary data from voice of the customer interviews, ethnographic studies, focus groups or other tactics, the data will be incomplete at best.
Third, develop hypotheses to test these leaps of faith. For example, in the case of a medical tourism company, the assumption is that people would be willing to use a medical tourism website to find overseas health-care providers that are less expensive.
Or, in the case of the iPod, the assumption was that customers would be willing to pay to download single songs online instead of buying the entire album. The next step is to design and implement experiments materials and methods for scientists to test your hypotheses. Identify the variables, design and perform the experiment, and then observe and measure the results using dashboards results.
What will happen if you change the price? How about a bricks-and-mortar strategy to supplement your online offerings? Finally, interpret the results and design further experiments to validate your assumptions conclusions and discussion. Each business experiment, pilot project or test will lead you closer to a model that works, or, will give you data that tell you what does not.
Every business plan describes what the founders propose to make, market and sell at a profit. However, according to Mullins and Komisar, the heart of any plan, and the thing that gets the attention of investors, is the business model, that is how you intend to make a profit doing what you propose to do and how quickly will you do it.Take, for example, the case of Silverglide, a Colorado company selling non-stick surgical instruments.
In this vein, it could have been steered in a more promising di- would be highly useful to have an overview of the rection. McGrath, R. Uncovering the value of planning in come in handy, as they can readily be applied in new venture creation: These cases have in may not be easily observable for founders, given common that the founders went through several that whole configurational solutions may be the plans before hitting on one that could generate cause of favorable performance outcomes at other the expected results.
These cases have in may not be easily observable for founders, given common that the founders went through several that whole configurational solutions may be the plans before hitting on one that could generate cause of favorable performance outcomes at other the expected results.