Variable | Step 1 | Step 2 |
---|---|---|
Constant | 4.43** | 4.18** |
Firm Age | 0.005 | −0.002 |
Ent XP | 0.52* | 0.59* |
Age | −0.02** | −0.02+ |
Education | 0.08 | 0.04 |
Case sample | −0.61* | −0.69* |
High Tech Firm | −0.10 | −0.16 |
0.09+ | ||
Write business plan | ||
Secondary data | −0.02 | |
Business plan feedback | −0.02 | |
Business plan funding | −0.05 | |
0.09+ | ||
Interview | ||
Prototype | −0.02 | |
Show prototype | 0.04 | |
Experiment | −0.02 | |
Preorders | 0.15* | |
Pivot | 0.06 | |
0.19 | 0.30 | |
Adjusted | 0.15 | 0.19 |
change | 0.19 | 0.10 |
Business planning | Lean startup | ||
---|---|---|---|
Supported? | Supported? | ||
: Write Business Plan | Yes | : Interviewed Customers | Yes |
: Secondary Data | No | : Created a Prototype | No |
: Feedback on Business Plan | No | : Showed a Prototype | No |
: Funding from Business Plan | No | : Experiment | No |
: Preorders | Yes | ||
: Pivoted | No |
Summary regression results for the growth DV
Variable | Business plan | Lean startup |
---|---|---|
Constant | 2.18 | 2.10 |
Firm Age | 0.03 | −0.01 |
Ent XP | 1.13 | 1.24 |
Age | −0.04** | −0.05* |
Education | 0.18 | 0.16 |
Case sample | 0.65 | 0.25 |
High Tech Firm | −0.61 | −0.48 |
0.30* | ||
Write business plan | ||
Secondary data | −0.17 | |
Business plan feedback | 0.01 | |
Business plan funding | 0.19 | 0.25 |
Interview | ||
Prototype | −0.11 | |
Show prototype | 0.14 | |
Experiment | −0.09 | |
Preorders | 0.89* | |
Pivot | 0.34* | |
0.39* | 0.51* |
Business planning | Lean startup | ||
---|---|---|---|
Hypothesis 1 | Supported? | Hypothesis 2 | Supported? |
: Write Business Plan | Yes | : Interviewed Customers | Yes |
: Secondary Data | No | : Created a Prototype | No |
: Feedback on Business Plan | No | : Showed a Prototype | No |
: Funding from Business Plan | No | : Experiment | No |
: Preorders | Yes | ||
: Pivoted | Yes |
We do not believe that business planning exists as a latent construct necessarily comprised of these activities, but rather each of these activities are potential components of the concept referred to as “business planning” in prior research.
Similar to business planning activities, we believe that lean startup is not a latent construct but rather these activities in some combination is what is meant when practitioners and scholars refer to lean startup. As such we test each of the activities individually rather than as a construct.
Following the extant guidelines on regression assumptions ( Osborne and Waters, 2002 ), we tested our model to ensure the regression assumptions were met. First, to check if our error terms ( Flatt and Jacobs, 2019 ) are normally distributed, the P - P plot suggests normality as the plot is largely linear. Second, to check for a linear relationship between the independent and dependent variable, our residual plot showed a linear relationship. Third, as our variables were not latent, there is no concern for measurement error for this approach. However, we did follow best practices suggested by Flatt and Jacobs (2019) and tested the Durbin–Watson statistic. Our value for this measure is 1.5 and their guidelines are that this statistic should be close to 2. Values between 1.2 and 1.6 represent only a minor violation of the statistical independence of error terms. Finally, to address the assumption of homoscedasticity, inspection of our standardized residuals showed our residuals scattered around the 0 (horizontal line). Therefore, for our dependent variable of success, we can feel comfortable our data meets the assumptions of linear regression.
As this dependent variable was analyzed using logistic regression, we analyzed our data following best practices from Garson (2012) . First, our dependent variable is dichotomous. Second our scatterplot showed no outliers in our data. Third, the correlation table showed no evidence for multicollinearity as no correlations were above 0.9 ( Tabachnick et al. , 2007 ). Hence, we feel our data meets the assumptions for logistic regression.
[Business Background]
Started (or am starting it) myself
When you first started pursuing the business, how many people were on the founding team (including yourself)?
High Tech Startup (External/Venture funded)
Steady Growth Business (Internally/Self-funded)
Lifestyle Business
Business Idea
Decision to Start a Business
Occurred Together
Month (1–12)
Year (YYYY)
[Lean Start Up, Business Planning Practices]
Interviewed potential customers
Created a prototype
Showed a prototype to potential customers for feedback
Conducted an experiment to better understand some portion of your business
Wrote a business plan
Accepted money for pre-orders
Used customer feedback to alter the direction of your business ("pivoted")
Gathered secondary data on industry statistics or trends
Shared your business plan with people outside the company for feedback
Shared your business plan with people outside the company for funding
[Demographics]
How old are you? 0.5
Prefer not to answer
Black or African American
American Indian or Alaska Native
Native Hawaiian or Pacific Islander
Living with a partner
Never married
Up to 8th grade
Some High School
High School Diploma
Some College
Associate's Degree
Bachelor's Degree
Some Graduate School
Master's Degree
More than 1
[Success Criteria]
My business is a success
Increased Annual Revenue
Increased Annual Customers
Increased Number of Employees
Thank you for completing the survey!
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Sample business plans, templates, listings, glossary and bibliography.
Comprising sample plans from entrepreneurs seeking funding for small businesses in North America, the collection includes diverse sectors such as manufacturing, retail, and services, with only company names and addresses altered.
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The sample academic plans of study below have been created by the Bachelor of Science in Business Administration (BSBA) program faculty and are constructed with prerequisites and co-requisites in mind. Note that these sample plans offer suggested sequences, depending on one’s desired pace, and are intended to assist students in developing their own academic plans. Students may use a suggested plan of study and adjust individual subscription periods.
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Note, some courses have a prerequisite. A prerequisite is a course that a student must master before enrolling in the more advanced course. Students may add an advanced course during the same subscription period for which the prerequisite is being satisfied; however, students will not be or granted permission to register for the advanced course until the prerequisite has been met.
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2008-2009: The Academic Business Plan Format. To facilitate the operation of a non academic unit as well as to determine its feasibility, benefit, cost, and ongoing viability, it is essential that a business plan be developed to support the goals of the University and Academic Agenda. While the general form of a business plan as used in the ...
Key Takeaways. A business plan is a document detailing a company's business activities and strategies for achieving its goals. Startup companies use business plans to launch their venture and to ...
The Sustainable Academic Business is the cornerstone of the UW's strategic framework to maintain excellence in teaching, scholarship and research in light of financial realities. It outlines the goals and related activities that will keep the UW strong and well-positioned for the future. For more information on the origin of the UW's SABP ...
5. Reaching the market. You have described the market, identified your target segment and analysed the competition; now you need to show how you will reach the market. Winning 1% of a large market sounds very little but without clear evidence of how exactly you will get 1%, the target is fanciful.
The business plan should clearly and concisely define the mission, val-ues, strategy, measurable objectives, and key results the owner expects. It is important to set aside enough time to formulate the plan. Experts recommend starting the planning pro-cess at least 6 months before initiating a new business.
While the general form of a business plan as used in the commercial world can serve as a guide for a plan in academia, there are some characteristics of the two sectors that are different. In general, an academic business plan should have the following components. An . Overview. that provides a brief description of the program or facility being ...
A Business Plan is invariably prepared to obtain financial support for a new venture, product, or initiative. The plan will describe the link between the 'product' and the marketplace. In a University a 'product' is invariably a service, or academic offering. However, a 'product' may refer to commercialisation of University owned ...
Overcoming Challenges and Pitfalls. Challenge of consensus over clarity. Challenge of who provides input versus who decides. Preparing a long, ambitious, 5 year plan that sits on a shelf. Finding a balance between process and a final product. Communicating and executing the plan. Lack of alignment between mission, action, and finances.
Pr. paring an Academic Pl. nA. Why an Academic Plan?An academic plan is a carefully crafted set of goals that comprises three key elements: the focus of your studies, your expectations or intentions with respect to workload, and y. ur strategies for success.Building an academic plan is an essential step in preparing for a successful return to ...
ADFL Bulletin Vol. 43, No. 2, 2015 45 Strategic Planning in Academic Departments Daren Snider he author is associate dean of the College of Fine Arts and Humanities and associate professor of German at the University of Nebraska, Kearney. COLLEGES and universities have for decades struggled with a constantly changing playing ield in terms of ...
The Academic Consultant: Planning Your Business. If you have decided that your scientific expertise may be of value to the wider world outside academia, it is not enough to simply hang out a shingle and expect it to come to you. Any first-year MBA knows that the success or failure of a business usually hinges on the amount and quality of the ...
A business plan is an executive document that acts as a blueprint or roadmap for a business. It is quite necessary for new ventures seeking capital, expansion activities, or projects requiring additional capital. It is also important to remind the management, employees, and partners of what they represent.
By: HBS Press, Harvard Business School Press. Every entrepreneur is encouraged to write a business plan; those who don't quickly learn that future operations can be derailed without a cohesive printed mission and that obtaining outside funding…. Length: 43 page (s) Publication Date: Oct 30, 2004. Discipline: Entrepreneurship.
Chapter 1 - Developing a Business Plan. Chapter 2 - Essential Initial Research. Chapter 3 - Business Models. Chapter 4 - Initial Business Plan Draft. Chapter 5 - Making the Business Plan Realistic. Chapter 6 - Making the Plan Appeal to Stakeholders and Desirable to the Entrepreneur. Chapter 7 - Finishing the Business Plan.
Abstract. In creating and building a business, the entrepreneur assumes all the responsibilities for development and management, as well as the risks and rewards. Many businesses do not survive because business owners fail to develop an effective plan. The business plan focuses on major areas of concern and their contribution to the success of ...
Research: Writing a Business Plan Makes Your Startup More Likely to Succeed. Summary. When asked about an opponent's plan for their impending fight, former world heavyweight champion Mike Tyson ...
Typically, business planning has been analyzed as the single act of writing a business plan (e.g. Honig and Karlsson, 2004).However, business planning is made up of a variety of activities (Gruber, 2007), which entrepreneurs may utilize as a whole, or simply choose parts of the business planning process.It is worth noting that these specific activities are not mutually exclusive with lean ...
Abstract and Figures. Planning and business plan, as a its product represent essential part of the overall business management. The business plan covers all important aspects of the business and ...
management and its main functions, with the aim of contextualizing the use of business plans. One of the most common definitions of management is the following: Management is the process of ...
Academic Writing "Writing" is usually understood as the expression of thought. This book redefines "writing" as the thought process itself. Writing is not what you do with thought. Writing is thinking. Better living through interpretation: that's the promise of academic writing, which is a foundational course in most schools because ...
Business Plans Handbook. Sample business plans, templates, listings, glossary and bibliography. Comprising sample plans from entrepreneurs seeking funding for small businesses in North America, the collection includes diverse sectors such as manufacturing, retail, and services, with only company names and addresses altered.
The sample academic plans of study below have been created by the Bachelor of Science in Business Administration (BSBA) program faculty and are constructed with prerequisites and co-requisites in mind. Note that these sample plans offer suggested sequences, depending on one's desired pace, and are intended to assist students in developing their own academic plans. Students […]
ABSTRACT. The business plan is the product of a strategic thinking or planning process. The strategic direction developed in that process can then be communicated in the form of a business plan to lenders, potential investors and associates within your company. The development of a strategic direction is a critical step for your company.