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“The Only Thing We Have To Fear…”
June 16, 2008 by mrbizplan.
I grow tired of hearing the opinion that business plans are not a necessary component of starting a business. In Mike Michalowicz’s blog post Business Plans are OUT! Here’s the New Way… he expounds on the virtues of the “Three Sheet Strategy” in lieu of a business plan.
In a nut shell the “Three Sheets” are:
- A Prosperity Pan - which is like a mission statement and vision statement wrapped into one.
- Quarterly Plan - A summary of what needs to be done in the next 90 days to work toward achieving your “prosperity plan”.
- Daily Goals - a typical dashboard approach to ongoing metrics.
While I agree that the “Three Sheet Strategy” can be a useful addition to a business plan for “strategic” purposes, it in no way can replace a business plan.
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