Drop a Business Plan
Posted by: Monica Rollins for Canadian Parents
Recently, I attended a seminar on ingenuity. The topic focused on why the average company isn’t as ingenious as they would like to be, and what you can do to change that. The speaker, an owner of a wildly successful ad agency, gave advice on what companies should do to foster ingenuity. The advice he gave shocked me. He said companies should “Drop the Business Plan.”
This statement is the polar opposite of what the experts have been telling us for years. If you don’t have a business plan, how will you get money from the bank? How will you attract investors? But, he had a point. If you want to be creative, if you want to break boundaries and achieve success in a new way, you can’t follow the same old path. Business plans are designed to ensure your company follows a predictable path. They are great if you want to be predictable. But if you want to be different, if you want to be innovative, you have to take risks and think outside the box.
That’s exactly what Atar Morgenstern did. Her swim hats, called Nammu, are designed to protect children from the sun’s harmful rays, whether they are in or out of the water. Atar came up with the idea for the swim hats when she couldn’t find anything to protect her fair-haired boys from getting sunburned while swimming. She didn’t have a business plan, but she had an idea. She started small, making the hats for her own children and then for friends and family. As word spread, so did her business.
Today, Atar’s swim hats are sold in stores across North America and online. Her hats are not only practical but also stylish. Kids love wearing them because they come in bright, fun colors and patterns. Parents love them because they provide excellent sun protection and peace of mind.
Atar’s story is a great example of how ingenuity and a great idea can lead to success, even without a traditional business plan. If you have an idea that you believe in, don’t let the lack of a business plan hold you back. Take a risk, be creative, and you might just find success.
