Oh, I'm not saying that we're purposefully not going to have a business plan. A strategy that outlines our assumptions, how we're going to test them, with a growth plan and best guess revenue predictions that we can constantly test is an absolute requirement.
What I'm saying is that we couldn't produce a business plan that would satisfy a High St bank into lending capital. Their requirements are different, much lower acceptance of risk meaning that they really require business models that are already proven and well established.
Most of the form templates for business plans would be empty. A lot of the assumptions of the business model need testing, but to do that you need to start with the assumptions and then work on tests that prove the model. This is what I mean when I say that the business product in the early part of the company history isn't a product as such, it is comprised of tests that validate the assumptions to determine the size and growth potential of the market opportunity and then delivers an minimally viable product into that market.
I bet I'm not making sense yet. I need to have these conversations a few hundred times before I've spent enough time to learn how to say less.
Oh, I'm not saying that we're purposefully not going to have a business plan. A strategy that outlines our assumptions, how we're going to test them, with a growth plan and best guess revenue predictions that we can constantly test is an absolute requirement.
What I'm saying is that we couldn't produce a business plan that would satisfy a High St bank into lending capital. Their requirements are different, much lower acceptance of risk meaning that they really require business models that are already proven and well established.
Most of the form templates for business plans would be empty. A lot of the assumptions of the business model need testing, but to do that you need to start with the assumptions and then work on tests that prove the model. This is what I mean when I say that the business product in the early part of the company history isn't a product as such, it is comprised of tests that validate the assumptions to determine the size and growth potential of the market opportunity and then delivers an minimally viable product into that market.
I bet I'm not making sense yet. I need to have these conversations a few hundred times before I've spent enough time to learn how to say less.