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Lessons shared to me by the ultra-wealthy

burtscap

New Contributor
Apr 29, 2020
3
3
Philippines
That's all and good but the millionaire fastlane teaches us that the best business plans are written in tissue papers. It's more about executing than having a perfect business plan. We learn more from doing and experiencing rather than creating a perfect plan, which actually sets some people back from executing. The best business plan is your track record. Execute first, and learn as you go along. All of these are from the writings of MJ Demarco.
Agree.
I worry inexperienced entrepreneurs may take this too far and become reckless.

The truth is (from this no-experience entrepreneur :p), entrepreneurship is more about careful preparation than actually performing some grand action.

Its about forming an idea, educating yourself about this subject, researching the market, analyze the angle of attack & your competition, testing the market, adjusting.. Etc etc before actually taking that 'action' and launching something.

I suppose you can call the aforementioned 'action', but its more quiet & stealthy, and not the 'IMMA PUT A MIL INTO THIS IDEA LOLZ' kinda way.
 
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amp0193

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May 27, 2013
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That's all and good but the millionaire fastlane teaches us that the best business plans are written in tissue papers. It's more about executing than having a perfect business plan. We learn more from doing and experiencing rather than creating a perfect plan, which actually sets some people back from executing. The best business plan is your track record. Execute first, and learn as you go along. All of these are from the writings of MJ Demarco.

I think you pasted your reply in the wrong thread
 

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