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finding your company’s better plan b  |
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by John Mullins , January-February 2010 |
"If the founders of Google, PayPal or Pantaloon had stuck to their original business plans, we’d likely never have heard of them. Instead, they made radical changes to their initial models, became household names and delivered huge returns for their founders and investors. How did they get from their Plan A to a business model that worked? Why did they succeed when most new ventures, whether raw start-ups or new initiatives inside large companies, crash and burn?
Every aspiring entrepreneur, whether they desire to start a new company or create something new within an existing company, has a Plan A—and virtually all of these individuals believe that their Plan A will work. Unfortunately, they are usually wrong. But what separates the ultimate successes from the rest is what they do when their first plan fails to catch on. Do they lick their wounds, get back on their feet and morph their newly found insights into great businesses, or do they doggedly stick to their original plan?"
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