Timing Is Everything
Is it ever too early to plan? Give your startup an edge by mapping the next 10 years now.
If you're in the startup phase of your business, it can be hard to see all the way to the end of this week, much less the end of a decade. But since we're all about business plans and making maps for success, we at Entrepreneur wondered if it was possible to make a 10-year plan for your startup business.
According to Thomas Kinnear, executive director of the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan, Ann Arbor, it is not only possible, but it's also a good idea. "I think it's a good discipline," he says. "But the further you get out, the less you should think of it as an operational plan and the more you should think of it as a process to drive thinking." Therefore, a 10-year plan is going to look more like a compass than a road map, in that its purpose is to point you in the right direction.
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