Should entrepreneurs start with a goal in mind or should they just go with the flow, responding to events that happen to them?

(This was my response to the above question on Quora)

SettingGoals

 

 

 

 

 

 

There has to be a goal around which the resources, strategies and plans should be aligned. Of course, because you have a goal and a plan does not mean that everything will go according to the plan. That’s where responding to in-market realities comes in. And that’s why you need a goal and a plan to achieve that goal. 

The plans and the milestones in that plan are your markers which allow you to assess your strategies as well as the goals and help you make adjustments in your plans as you go forward.

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Author: Prajakt Raut

Prajakt Raut is the founder of Applyifi.com, and author of the book for startups - ‘Starting Up & Fund Raising’ Prajakt personal goal in life is to encourage and assist a 100,000 people to become entrepreneurs. _____________ Prajakt is the founder of Applyifi - an online platform that provides startups a 36-point scorecard and assessment report on the venture's investment readiness [www.applyifi.com], and helps them improve their odds of getting funded. Prajakt is also the founding partner of The Growth Labs, a platform where growth-stage companies get sharp, incisive advice from senior professionals and experienced entrepreneurs. [www.thegrowthlabs.in] Before starting Applyifi, Prajakt was the head of operations at IAN, founding member of a leading incubator, and the Asia-Director for TiE (2004 - 2007). Previously Prajakt had co-founded Orange Cross, a healthcare services company, and was part of the founding team member of Idealake Technologies. While in college Prajakt had founded a printing business and has spent over 10 years working in leading advertising agencies. Prajakt’s book, ‘Starting Up & Fund Raising’, helps startups understand an investor’s perspective, and helps them improve their odds of getting funded. The book also helps entrepreneurs understand the building blocks of a business.

1 thought on “Should entrepreneurs start with a goal in mind or should they just go with the flow, responding to events that happen to them?”

  1. I guess your role as an entrepreneur is so much in tandem with Project Management, the only difference being that you get to don various hats as you constantly step in and out of each role (as is most times with true entrepreneurship….) and that’s probably also what precisely makes it all the more interesting & worth the journey!! So really in that sense, milestones are always planted all along the way, just that you get to do it yourself in order to gauge your own progress!?

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