This paper presents an entrepreneurial optimal business plan in which optimal consumption and portfolio rules, and optimal exit strategy for an entrepreneur are jointly determined in the presence of undiversifiable idiosyncratic risk. We find that the entrepreneur is more likely to exit from her...

Purpose The goal of this research is to investigate the relationship between two different sets of practices, lean startup and business planning, and their relation to entrepreneurial performance. Design/methodology/approach The authors collected data from 120 entrepreneurs across the US about a...