I know a few very successful entrepreneurs who started businesses without even writing a business plan. They have an idea and went out and executed. Back then, I thought this was not wise. How could you start something without a blueprint?
As I get more experience in business, I realized that executing fast to test ideas is the way to go. Most businesses fail anyways so it’s smarter to take action and not wait for the perfect business plan or strategy.
Once there is a product-market fit and the business idea is validated, then it’s time to craft a detailed plan and strategy. But before that point, overplanning only breeds doubt and inaction.
The key is to go out there and take action. Waiting for perfect is overthinking. Overthinking leads to inaction. Execute. Make Mistakes. Iterate.