Any self-respecting Web 2.0 subscriber will tell you that business plans are distracting. Attention should be spent creating value first, profit later. Much later. As Paul Kedrosky puts it, “business plans are overrated, and profits perhaps even more so.”
I’m all for the sentiment. Personally, I feel like I need to be wearing a tie just to be around business plans. But my involvement with startups typically comes in the form of paid development. Even when we do play in the web2o category directly, it’s with partial attention.
Paul’s advice isn’t really directed at me. It’s directed at young, funded, and/or independently wealthy web2o entrepreneurs who, given the choice, would take [ownership of] Twitter over Basecamp.
The way I see it, if you have no kids, have already secured funding or have existing revenue streams subsidizing your efforts, you shouldn’t be concerned with profit. You should be focused on creating something engaging with absolutely no business sense. That’s the space everyone is watching.
Is it wrong that I’d still choose Basecamp? (I have kids.)
Update: Nah, I’d take Twitter.