The document discusses how having a rigid business plan can actually cause a business to fail. While a business plan is important, it is also crucial that the plan is allowed to evolve as the entrepreneur learns. The author reflects on starting businesses in the past without clear exit strategies or the ability to strictly follow the initial plan. However, the constant evolution of the plans played a role in the author's successes. Ultimately, unexpected changes are inevitable, so a business plan needs flexibility rather than being treated as set in stone.

1. An Excellent Business Plan Does Not Guarantee
Success
Executive Coaching
Looking back, I am amazed at how many times I’ve jumped into a new business completely
clueless. For me, this ended up being a good thing. Did I have an exit strategy? No way! Was I
able to follow my business plan to a T? Definitely not. As I was learning, my business plan
kept evolving.
I didn’t know it at the time, but the fact that my business plan was constantly evolving played
a huge role in my successes. There were failures too, of course.
The fact is, in business and in life, you never know what is going to happen, especially in an
economy that is constantly in flux. In that sense, treating your business plan as though it is
set in stone is detrimental to your ability to succeed.
In the clip from my interview with Cornell University below, I talk about the four stages of
learning and how they apply to entrepreneurs, as well as how a set business plan can
actually cause your business to fail.
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Anne Loehr - Exit Strategy
Anne Loehr - Exit Strategy
I’d really enjoy hearing stories about jumping in blindly to a new business or opportunity.
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