Entrepreneurs plan, plan and plan

In the frenzy of valuations and technology change, business planning should not become the casualty

It is silly to think that past entrepreneurs did not have a solid business plan or that a Rambo business idea alone matters, that there is no need to have a detailed plan. The magnificent stories of the big four of Silicon Valley — Amazon, Apple, Facebook and Google — have provoked silly comments: For example, that the genius behaviour of great entrepreneurs is replicable through emulating their whimsical behaviour. The purchase of WhatsApp by Facebook for $19 billion in 2014 is quoted to suggest that founders should be allowed to act impulsively without the burden of consulting the directors;