Entrepreneur and professor Steve Blank
authored a blog this morning that expressed his opinion that business
plan competitions are useless to startup culture and should be
scrapped for business model competitions. Business plan
competitions are just what they sound like: students are encouraged to
submit a business plan and a winner is selected by a panel of judges,
often resulting in some monetary reward for the triumphant student.
Blank argues that models, not plans, are much more applicable to the
iterative startup atmosphere, but not everyone agrees that business
plans are entirely irrelevant.
Looking at the opposing viewpoints, it seems that those against business plans use an alternative approach to their argument than those in support of them. In his points against business plans, Blank takes aim at the plans themselves, dissecting them as unrepresentative of the startup ecosystem and its needs.
To read the full, original article click on this link: Business Plan Competitions: Valuable Tool or Waste of Time?
Author: Chris Cameron
