Do Entrepreneurs Need a Strategy?
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Publication Date:
May 01, 2018
Some start-up founders follow a business plan; others operate by the seat of their pants. This package looks at how entrepreneurs can carefully craft a strategy in advance–and whether that’s what they should do. In “Strategy for Start-Ups,” Joshua Gans, Erin L. Scott, and Scott Stern write that in their haste to get to market first, entrepreneurs often run with the first plausible strategy they identify. They can improve their chances of picking the right path by investigating four generic go-to-market strategies and choosing a version that aligns most closely with their founding values and motivations. The authors provide a framework, which they call the entrepreneurial strategy compass, for doing so. Also in this package, in “It’s Not About the Framework,” Syracuse University professor Carl Schramm argues that contrary to the teaching at many business schools, entrepreneurs really have no alternative to learning by doing. In “Create Something and Start Selling It,” Daniel McGinn and Walter Frick present a conversation with start-up veterans Niraj Shah, Bijan Sabet, and Jennifer Lum.
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Do Entrepreneurs Need a Strategy?
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