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Sunday, January 28, 2007

An Interesting comment on the no business plan post

From Rob Smorfitt

Check out Rob's webpage his company is based in South Africa and it assists early stage companies, interesting comments...

The research showing no business plans were needed for success is skewed in a generic context. The people who formed the universum for this research project were all graduates, therefore extrapolations regarding non graduates cannot be done. Would the same apply to someone who has very little if any formal education at even school level as is often the case in developing countries?

I also believe that all the graduates may not have had a written business plan document, but they had a mental one. There are key issues addressed by a business plan, which are critical to business success. I am sure that these people did not ignore their business educaiton, and that they used it in one way or another.

I also saw research where in the USA business graduates had a higher success rate than all other, eg arts, graduates. However, similar research in South Korea found that business graduates generally underperformed all other graduates.

However, I believe knowledge is important.



Rob Smorfitt
MainSpring - driving business development

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