Regarding Ron Kornfeld

Ron's presentation on business plans was a refreshing perspective on entering into entrepreneurship. I was surprised however, at learning how venture capitolists handled the review of business plans. A single person might be given a stack of business plans to go through in a single day. A "good" business plan in this instance might be the most aesthetically pleasing, or the one that was able to catch the reader right out of the gate. Does that make it a better business plan then some of the ones refused? In one sense it does, for it was able to catch the attention of the reviewer when others could not. That does not mean however, that it is a superior business plan in the strategic business sense of the word. Some poorly presented business plans have probably represented some of the most solid ideas with much capability for success. This style of reviewing business plans is analogous of reviewing novel and screenplay submissions. However, when a novel or screenplay is rejected that does not necessarily mean that it is no good, nor does it mean that nobody wants it. It just means that that particular publishing firm was not interested. Authors are often encouraged to try their luck many places and submit their transcripts to every possible publishing firm they can find... at least until they get their foot in the door. It seems probable that this same philosophy could be applied to a business idea. Pitch it anywhere you think there could be a slim chance, and maybe someone will bite. Also, it's the same bit with getting your foot in the door; once you've been a successful entrepreneur you will probably have an easier time getting your ideas accepted. So, as they say to authors, hang in there.