From creation to growth: examining agile and business planning for sustained ventures

Purpose – Agile start-up and business planning methodologies are often considered mutually exclusive, with the former traditionally applied during venture creation and the latter encouraged to raise venture capital. However, the methodologies employed by entrepreneurs beyond the venture creation stage remain unclear. This study aims to explore the methodologies used by entrepreneurs who have sustained their ventures for at least five years, identifying their implications for venture performance and sustainability.

Design/methodology/approach – This research employed a survey methodology, collecting data from entrepreneurs in Australia with at least five years of venture experience. The analysis identified three distinct groups: (1) “super agile,” relying exclusively on agile start-up methodology; (2) “hybridised,” combining agile
start-up and business planning, and (3) “average” entrepreneurs aspiring to use both methodologies but failing to
implement them effectively.

Findings – “Super agile” entrepreneurs reported the highest adaptability and innovation but faced challenges in scalability and investor relations. “Hybridised” entrepreneurs reported achieving the most balanced venture performance, leveraging the adaptability of agile start-ups with the structure of business planning. In contrast,
“average” entrepreneurs reported lower venture performance outcomes due to inconsistent implementation of both methodologies.

Practical implications – The findings offer insights into the advantages and disadvantages of these methodologies in sustaining ventures and improving performance. The study provides actionable recommendations for entrepreneurs, tertiary education providers and policymakers to support the development of entrepreneurial ecosystems that enhance post-creation venture success (e.g. educating current and aspiring entrepreneurs about agile start-up and business planning to assist in post-venture creation management, finding a balance between the two methodologies if ventures have been already operational; developing tertiary or government training programs to assist entrepreneurs and provide ongoing training).

Originality/value – This study uniquely examines the application of agile start-up and business planning methodologies beyond the venture creation stage, contributing to the limited research on sustaining ventures over time. It highlights practical approaches that entrepreneurs can adopt to optimise venture outcomes in
dynamic business environments.