When: Thu December 20, 2012 6:00 pm
Organization: Venture Cafe
Location: The Venture Cafe, One Broadway, 4th Floor, Cambridge, MA
Bob Caspe, co-founder of the International Entrepreneurship Center and former Adjunct Professor at Babson College’s MBA program and Executive Education program, will be speaking on the following concepts:
Why Business Plans Are Dead & Why Entrepreneurs Should Avoid Angel and Venture Investing
Most business schools teach entrepreneurs that the path to success involves:
Creating a great idea for a product or service in a huge market Writing a business plan that describes how the business will work Raising working capital through either the venture or angel community and finally, executing the plan and eventually retiring with fabulous wealth!
Unfortunately, the track records of startups just don’t support the effectiveness of this approach. A recent study at Babson College actually indicates a negative correlation between having a business plan and finding success. The question of why will be addressed in this presentation.
Venture and angel investments also have a poor track record of success. Again, a reason will be presented that will rationalize why these forms of investment actually lower the entrepreneur’s probability of success.
The key question left is then, “What should an entrepreneur do?” This seminar will end by presenting a rational framework that can replace the current methodology of business planning and venture investment with a detailed step by step process that can lead the entrepreneur to a strategy that affords a higher probability of finding the success that they desire.