Why Elon Musk Doesn't Like to Follow Business Plans: ‘These Things Are Always Wrong'

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Elon Musk stopped making business plans after selling his web software company Zip2 to Compaq for $307 million in 1999. Here’s why.

— often conducting extensive research before launching or investing in a business. For him, the key is to leave it"open for change," so you can adapt when your original plan starts to go awry.

Richard Branson, another billionaire, is also known as a huge proponent of writing down his business plans."A business plan doesn't have to be a lengthy, well-thought-out proposal,"."it can be as simple as some notes in a notebook, or a scribble on the back of an envelope." Branson added that you shouldn't need to wait to have a formal, perfected plan to get started — an idea also championed by other billionaire entrepreneurs like Meta co-founder Mark Zuckerberg and LinkedIn co-founder Reid Hoffman,Instead of writing a business plan, Musk said, aspiring entrepreneurs should ask themselves some simple questions before getting started.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in BUSİNESS

Business Business Latest News, Business Business Headlines