In my time I’ve written many, many business cases, starting when I conceived my first business idea about six years ago (cooking and travel tours in India… I’ve never been to India, I really just wanted to travel there). While doing my MBA I was paid to write business and marketing plans for businesses who didn’t have the ability to write one themselves and I also won the Venture Fund award for a business idea I developed into a plan. In the past six months alone I have written about eight plans in total.
I’ve probably written in the range of 50 plans over the past six years, and of those I’ve written for myself, one has seen the light of day and made it into a business (in the early days, an amazing learning experience, but not a good business idea). Most others have had various stages of success, but for some reason the reality is that they aren’t feasible and they get shelved.
My point is that I use the process of writing a business case to objectively work through an idea that I am excited about before I tell others about it. More often than not, I am able to work out myself why the idea is flawed, and in the cases where I am unsure or still positive I will work through the business case with someone whose opinion I respect.
Lessons I have learned along the way: