Simple Rules for Developing Plans and Strategies

Dean A. Shepherd (), Holger Patzelt () and Nicola Breugst ()
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Dean A. Shepherd: University of Notre Dame
Holger Patzelt: Technical University of Munich
Nicola Breugst: Technical University of Munich

Chapter Chapter 5 in 66 Simple Rules for Entrepreneurs, 2024, pp 39-51 from Springer

Abstract: Abstract This chapter offers simple rule for developing plans and strategies. These simple rules are: reflect on your personal goals when setting an entrepreneurial strategy; think about your venture’s future and your future in it; when facing uncertainty, look for ways to capitalize on learning (stage gates won’t cut it); simplify your rules as the environment becomes more complex and dynamic; be aware of and minimize your venture’s vulnerabilities; anticipate and avoid (or prepare for) potential threats; meetings can help effective transitions from one project to the next; and avoid firefighting mode to improve long-run performance.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-62032-4_5

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DOI: 10.1007/978-3-031-62032-4_5

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