I am loving this article from the HBR on Why The Lean Start Up Changes Everything . Proof enough for me that the five year plan and projections are pie in sky and only useful in the (former) Soviet Union and to Venture Capitalists.
The authors set out to demonstrate that you can plan start ups using the Business Model Canvas to sketch out your hypothesis, then listen to customers, and then follow up with quick, responsive development.
This approach isn’t just for new start ups, but also for innovation in existing companies, I am about to use the business model canvas this morning with a colleague to explore a new opportunity he has identified. We will use the process mapped out in the article, and see where it takes us!