An Entrepreneur’s Dilemma Series Part 2: Have a Formal Business Plan, or Not? Forum

Are you grappling with the pivotal decision of whether to craft a meticulous business plan or dive headfirst into entrepreneurship with a more fluid approach? The debate continues to cause confusion for startup founders. But fear not, for we're here to shed light on this crucial matter. Introducing "An Entrepreneur’s Dilemma: Have a Formal Business Plan or Not?" – the second of three forums is designed to highlight critical decisions founders need to make as part of their startup journey. In this forum, we’ll discuss why the need for a formal business has been challenged by founders and experts in the field of entrepreneurship. What was once taken for granted, has become a more nuanced dilemma. Join us as we hear from two experienced professionals of the pros and cons of both perspectives. The forums are hosted by Bradley University’s Turner School of Entrepreneurship and Innovation and the Turner Center for Entrepreneurship. Participants will include students studying entrepreneurship. The forums include a networking session to connect students with local entrepreneurs and resources. Topics of Discussion: • Why for some startups, a formal business plan may be critical. • The increasing focus on lean startup plans including the Business Model Canvas. • The benefits of both approaches. • When one approach versus the other would be the best choice. • How the best of both approaches could be combined. Who should attend: • Entrepreneurs • Founders • Students • Resource partners supporting business startup and growth Speakers: Don Schwegel, VP, Commercial Banker at Morton Community Bank, Peoria IL Chris Youngmark, Assistant Illinois SBDC Director, Bradley University Cosponsor: Distillery Labs