Milestones for Successful Venture Planning
ZENAS BLOCK AND IAN C. MACMILLAN
Executive Summary
ENTREPRENEURS DRAW UP BUSINESS PLANS for new ventures to make various marketing, pricing, financial, and other projections. More often than not, though, their estimates bear little relationship to reality. These authors argue that planning for new enterprises differs fundamentally from planning for existing companies, given the inherent instability of start-ups.
How can managers launching new ventures plan effectively for the many unknowns they will encounter? Identifying milestones over the project's life enables planners to both learn from experience about the enterprise's viability and make adjustments in strategy and goals as necessary.
The authors ...
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