Why Transformation, Innovation and Entrepreneurship Are About Discovery, Not Just Execution"

When it comes to innovation and entrepreneurship, it's not about executing a perfect plan—it's about discovering what works. Traditional business plans, with their 20+ pages and complex spreadsheets, often assume a certainty that doesn't exist in the early stages of a venture. In reality, the journey is filled with unknowns, and the true challenge lies in searching for the right value proposition and business model that can scale. Have a look at the insight of Alex Osterwalder!

The problem with traditional business plans is that they make assumptions:

• They present an idea as if it's guaranteed to work.
• They project fantasy financial numbers for an unproven concept.
• They don't account for the inevitable pivots and changes that occur in the face of real-world challenges.

Successful companies like YouTube and Nespresso had to radically shift from their original plans to become the giants they are today. This is why it's crucial to approach innovation with flexibility and an open mind.

From Business Plan to Minimum Viable Business Plan (MVBP): Instead of committing to a static business plan, start with an MVBP—an agile, iterative approach that evolves with evidence. Here’s how:

1. Sketch an MVBP in a day: Use tools like the Business Model Canvas and Value Proposition Canvas. Admit that everything is subject to change.
2. Test and adapt your value proposition: Gather evidence to refine your MVBP based on what customers actually want.
3. Validate customer acquisition, retention, and pricing: Strengthen your MVBP with real data, moving from fantasy to evidence-backed projections.
4. Scale with an execution-oriented plan: Once you have sufficient evidence, transition your MVBP into a more traditional business plan for scaling.

The key takeaway? Start rough, stay flexible, and let real-world feedback guide your journey. The path to innovation success is about continuous learning and adaptation—not sticking to a rigid plan.