Feb 20, 2018
Business schools teach that the most important prerequisite for
starting a business is a business plan. Nonsense, says Carl Schramm
in Burn the Business Plan, who for a decade headed the
most important foundation devoted to entrepreneurship in this
country. Microsoft, Apple, Facebook, and Google are just a few of
the companies that began without one.
Schramm explains that the importance of a business plan is only one
of the many misconceptions about starting a company. Another is the
myth of the kid genius—that all entrepreneurs are young software
prodigies. In fact, the average entrepreneur is thirty-nine years
old and has worked in corporate America for at least a decade.
Schramm discusses why people with work experience in corporate
America have an advantage as entrepreneurs. For one thing, they
often have important contacts in the business world who may be
customers for their new service or product. For another, they often
have the opportunity to strategize with knowledgeable people and
get valuable advice.
Burn the Business Plan tells stories of successful
entrepreneurs in a variety of fields. It shows how knowledge,
passion, determination, and a willingness to experiment and
innovate are vastly more important than financial skill. This is an
important, motivating look at true success that dispels the myths
and offers invaluable real-world advice on how to achieve your
dreams.