Why it's important for entrepreneurs to think about their plan Z – Ventureburn

I recently came across an interesting article in the Financial Times (FT) which covers the question Reid Hoffman, the co-founder of LinkedIn, has been asking entrepreneurs: “What is your plan Z?”

We all have plan A’s in our business. Even those who purport not to plan have some idea of the overall vision, direction and immediate business model. We are all also prepared to make a significant change (“pivot” in lean startup jargon) to one or more elements of the business plan if new information guides us to do so. That is a plan B.