Sahil Lavingia:
David Heinemeier Hansson of 37Signals is known for lambasting businesses that seem oblivious to the concept of profitability. I don’t really agree with him. I think that you should spend time doing fun little projects. Many fun little projects. Recognize that most of them will die, but that one or two may do well.
I got a degree learning how to write business plans and marketing plans. I haven’t written either since leaving school. I have, however, turned a couple side projects into profitable businesses.
That said, I do believe there’s a need for creating a good foundation for a business at the onset of an endeavor. But I also believe in executing ideas regardless of whether or not they become a business.