I recently wrote about the importance of having a plan. Thank you Richard Simms for commenting on the great Mike Tyson quote: “everyone has a plan until they get punched in the mouth.” While you need a plan, the plan has to also adjust and evolve. Here are some areas where you might need to iterate your plan.

Problem you are solving

Early on you focus on a specific problem to solve. But maybe after customer discovery you learn the problem you were solving is just a “nice-to-have” versus a “must-have.” There could be another problem that is far more pressing for your target customer to solve. Or, you may need to pivot to a different customer segment or new market.

Go-To-Market process

Let’s say you find a good problem and market, now how do you execute the go-to-market process? While you may start with a plan, you will likely have to iterate through the sales process, marketing message and channels, value proposition, solution, etc. until you really find out what resonates with customers and can be repeated to help you achieve product-market fit.

Financial plan

Every forecast I have ever built or seen is wrong. But how do you adjust the plan if things are going well (i.e. bring forward some growth investments) or adjust if things are not going well (i.e. delay certain hires or reduce expenses)?

Successful startups almost always have multiple pivots from their original idea. Be prepared to listen to customers and iterate on your original plan!