Four: From Plan to Model

What do we do when we want to launch something new? How do we turn a hunch, an idea, into a true, commercially successful innovation? The “normal” decades-old path looks something like this: develop a solid, detailed plan (five years seems to be the assumption behind most business plans); get financial backing (budget approvalin the existing corporation or investment/loan for a start-up); develop your product to perfection; and sell as much as you can. But for the world of overfished oceans, planning is overrated. In the face of extreme uncertainty, plans become obsolete in no time.

The only way to make the new reality work is to constantly adapt your business to the new reality—treating it as a strategic priority rather than a short-lived sidekick to the core business. For companies mastering the Overfished Ocean Strategy, business modeling, rather than strategic planning, is the name of the game. Unlike cumbersome, static, and rigid plans, models are agile, evolving, and open to change. Modeling, rather than planning, is the key to turning line to circle—and making money in the process.