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Wednesday, July 4, 2012

Did you write a business plan for your business Arch Bong?

Ateneo Professor on Entrepreneurship



Anton Pantoja asked our guest entrepreneur if he wrote a business plan?  Arch Bong curtly answered no.  He said it is common sense:  you know whether you will make money or not.

I hope Anton is not making reference to the course requirement of 30 points why you need to make a business plan.

That is why:

l.  I have been pounding on the business model (and we even had the BMI special report by Bel Tamayo)  It is a thumbnail of the business (that is why the financial:  revenue vs cost side) has to be SMART!.

2.  There is the effectutation entrepreneurship special report by no less than Anton.  These guys, the hundreds of thousands micro entrepreneurs there did not write a business plan.  Look.  They remain micro.

When you borrow money, when you want to expand, when you meet VC, you need a BP.

If you must graduate with an MBA, you must know how to make a business plan.  

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