Mike Moussa, Founder: PartSnap – 3D Printing and Product Development

Did you have a business plan, or any type of plan written down, when you started your business?  

“I did not have a business plan.  I did work out some pricing and revenue schemes to know how busy the 3D printers needed to be in order to be profitable.”

Do you think that business plans are necessary for entrepreneurship? Why or why not?

“I do not think business plans are necessary for a lot of entrepreneurial ventures.  Tech ventures or new industries change so rapidly that a business plan would be of little value.  Business plans are very important for other types of established, lower-profit businesses like running a dry-cleaner or a franchising a fast-food restaurant.

What three pieces of advice can you offer developing creative entrepreneurs? 

“Don’t get over-committed to your business concept.  You need to be prepared to pivot and adjust your product/services.  I started in 3D printing knowing it would become rapidly commoditized.  The business is still involved in 3D printing, but the bulk of our revenue is now from other services like product development, design services and manufacturing fulfillment.   By contrast, I have a family member who started a computer hardware repair company a few years ago.  That was a tough market then and is nearly entirely obsolete now.  He has not adjusted the business appropriately to changing market conditions, so revenue has just continued to drop.

It is important to develop some sort of plan and then be willing to adjust it to maintain / improve profitability.”

Interview by Trent Mervine, student in Developing an Arts Venture Plan at Meadows School of the Arts, Arts Entrepreneurship